Product ID: SQMIG15E2160
Global Synthetic Lubricants Market Size, Share, Growth Analysis, By Type(PAO, Esters), By Product Type(Engine Oil, Transmission Fluids and Hydraulic Fluids), By End-user(Power Generation, Automotive and Other Transportation) - Industry Forecast 2024-2031
Report ID:
SQMIG15E2160 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|
Tables:
98 |
Figures:
76
Global Synthetic Lubricants Market Regional Insights
The Asia Pacific region is anticipated to dominate the global Synthetic Lubricants market. The region's expanding automotive and petrochemical sectors are to blame for this rise. Many large oil firms that produce synthetic lubricants and have substantial distribution networks control the majority of the market. The Asia Pacific refinery industry, particularly in nations like China, India, and Singapore, has benefited from the low price of crude oil, which has led to a growth in the region's petrochemical production.
Europe, on the other hand, is another region where the market is expanding quickly. This growth is linked to elements including the region's manufacturing sector's recovery, increased emphasis on lowering vehicle CO2 emissions, improvements in product quality, and the availability of base oil. Demand for the product in the region is also being fueled by rising investment in synthetic lubricant mixing facilities in Russia and the Netherlands. The European Union's rules and regulations for environmental and public health safety, however, could be a threat to the market.
Global Synthetic Lubricants Market Report Snapshots
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