Synthetic Lubricant Market is Expected to Reach USD 62,805.6 Million in 2018 while Bio-Based Lubricants Market is Expected to

 Synthetic Lubricant Market is Expected to Reach USD 62,805.6 Million in 2018
while Bio-Based Lubricants Market is Expected to reach USD 2,377.5 Million in
                      2018: Transparency Market Research

  PR Newswire

  ALBANY, New York, January 23, 2013

ALBANY, New York, January 23, 2013 /PRNewswire/ --

According to a new market report published by Transparency Market Research ( ) titled " Synthetic and Bio-Based
Lubricants - Global Industry Size, Market Share, Trends, Analysis and
Forecast, 2012  -  2018 ," synthetic lubricants demand was 35.10 million
tons in 2011 and is expected to reach 41.52 million tons in 2018, growing at a
CAGR of 2.48% from 2013 to 2018. Bio- based lubricant demand was 505.6 kilo
tons in 2011 and is expected to reach 785.0 kilo tons in 2018, growing at a
CAGR of 6.6% from 2013 to 2018.

Browse the full report at

The reference to synthetic lubricants in the report includes mineral oil based
and chemical based lubricants. Mineral oil based lubricants are petrochemical
products which are manufactured from crude oil whereas chemical based
lubricants are externally synthesized by using chemicals such as polyolefin,
polyesters, polyglycols, non-PAO synthetics, esters, alkylated naphthalene and
alkylated benzene.

Bio-based lubricants are biodegradable in nature and are derived from
vegetables oils such as palm or castor oils and animal oils. The biodegradable
nature of the lubricant makes it eco-friendly which is a key attribute in the
industry facing a growing shift towards sustainability. In addition, there has
been significant regulatory support for the development of bio-based
lubricants from various agencies, particularly the EPA in the U.S. and REACH
in the European Union.

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The primary driver for the synthetic lubricants market is the growth in the
industrial and automotive sectors, especially in Asia Pacific and Latin
America. Automotive applications (consumer and commercial) together accounted
for 61.4% of the market share in 2011 and the growth in automotive industry
majorly influences the demand for synthetic lubricants. Synthetic lubricant
demand for consumer automotive applications is expected to reach 11.86 million
tons in 2018, growing at a CAGR of 2.58% from 2013 to 2018. The development of
bio-based lubricants has reduced the dependency on mineral oil based
lubricants. However, the high cost associated with processing and
commercialization of bio-based lubricants is a major inhibitor for product
acceptance and penetration across a host of applications.

Synthetic lubricants are segmented, based on product type into industrial
lubricants, commercial automotive lubricants and consumer automotive
lubricants. Industrial lubricants are the single largest application for
synthetic lubricants and accounted for 38.6% of the market in 2011. The report
includes a detailed study of various synthetic lubricant products such as
process oils, engine/motor oils and so on along with analysis and trends of
their further sub-segments. Sub-segments include lubricants like process oils,
general industrial oils, heavy-duty engine oils, passenger vehicle engine and
motor oils among others.

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Bio-based lubricants are primarily categorized based on the raw material, into
plant oil derived or animal oil derived. The demand for vegetable oil based
lubricants is higher and accounted for 87.5% of the total bio-based lubricant
demand in 2011. The hydraulic oil segment is expected to grow at a CAGR of
6.8% from 2013 to 2018, which is the highest amongst all applications. The
automotive sector is the largest application segment for bio based lubricants
and accounted for 25.7% of the global demand in 2011. The other major
applications of bio-based lubricants include process oils and hydraulic oils.

The report consists of a geographically analysis, wherein the demand for
various applications has been forecasted for North America, Europe, Asia
Pacific and Rest of World. In addition, there is also a detailed analysis of
the cause and effect of these applications on a regional level.

Some of the key players that deal in synthetic and bio-based lubricants
include Royal Dutch Shell, Exxon Mobil, British Petroleum, Chevron, Castrol,
Fuchs, Total and so on.

This research analyzes and estimates the performance and demand of synthetic
and bio-based lubricants in the global scenario. The research provides
detailed trend analysis of the synthetic and bio-based lubricantsmarket,
demand by geography and detailed analysis of companies that are dealing in
synthetic and bio-based lubricants. The report covers all the major segment
types of the market and provides statistically refined forecast and historical
data for the segments covered. The report presents a comprehensive assessment
of the strategies followed by different stakeholders by segmenting the
synthetic and bio-based lubricantsmarket as below:

  *Global Synthetic Lubricants market, by product type


  *Process Oils
  *General Industrial Oils
  *Metal Working Fluids
  *Industrial Engine Oils

       *Commercial Automotive

  *Heavy-Duty Engine Oil
  *Hydraulic and Transmission Fluid
  *Gear Oil

       *Consumer Automotive

  *Passenger Vehicle Engine & Motor Oil
  *Automatic Transmission Fluid
  *Gear Oil

  *Global Bio-based Lubricants market, by product type

       *Vegetable Oils
       *Animal Oils

  *Global Bio-Based Lubricants market, by application

       *Automotive Oils
       *Hydraulic Oils
       *Process Oils
       *Demolding Oils
       *Lubricating Grease
       *Chainsaw Oils
       *Compressor Oils
       *Turbine Oils
       *Industrial Gear Oils
       *Metal Working Oils

  *Global Bio-Based Lubricants market, by end-user

       *Industrial Lubricants
       *Commercial Transportation Lubricants
       *Consumer Automotive Lubricants

  *Global Synthetic & Bio-Based Lubricants market, by geography

       *North America
       *Rest of the World (RoW)

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