Rapid Industrialization in BRICS Economies Is Expected To Remain A Major Factor Driving For Heat Transfer Fluids Market

The Global Heat Transfer Fluids Market is expected to reach USD 3.68 billion by 2022, according to a new study by Grand View Research, Inc. Imminent need to manage excessive heat in several manufacturing industries including automotive, metal processing, pharmaceuticals, and food processing is a major factor driving heat transfer fluid demand across the globe. Surging requirement for application specific fluids with optimum thermal coefficient is also anticipated to fuel industry growth over the forecast period. Rapid industrialization in BRICS markets is expected to help in market development over the forecast period.

heat-transfer-fluids-market.png

Stringent environment regulations coupled with volatile raw material prices are expected to pose threat to industry profitability. Development of bio-based or water-based heat transfer fluids is anticipated to create lucrative opportunities for industry participants.

Silicone & aromatics formed the largest product segment with demand share exceeding 40% in 2014. The segment is expected to gain share over next seven years on account of increasing  requirement for synthetic thermal oils in these applications is expected to drive the product market over the forecast period. Glycols are expected to witness maximum gains in its market size over the forecast period on account of excellent antifreeze properties.

Browse Full Research Report on Heat Transfer Fluids Market: http://www.grandviewresearch.com/industry-analysis/heat-transfer-fluids-market

Further key findings from the study suggest:

  • Global heat transfer fluids market demand was 465.9 kilo tons in 2014 and is expected to reach 745.3 kilo tons by 2022, growing at a CAGR of 6.1% from 2015 to 2022
  • Oil & gas was the leading application segment and accounted for 23.8% of total market volume in 2014. HTF demand in this segment is expected to witness a modest growth over the forecast period. Increasing use of heating oil in offshore oil & gas thermal processes is anticipated to fuel market growth.
  • CSP is expected to witness significant gains in its size over the forecast period on account of growing energy demand and favorable government initiatives particularly in Spain, U.S. and Middle East.
  • Europe was the largest regional market and accounted for over 30% of global demand in 2014. Power and energy sector is highly active in these regions owing to high energy requirements from industrial sectors. Large scale urbanization coupled with increased usage of automobiles is expected to steer the demand for coolants and other heat transfer fluids.
  • Asia Pacific is expected to witness the highest growth of 7.0% from 2015 to 2022 on account of growing chemical and food & beverage industry in China, India and Indonesia.
  • Major companies operating in global heat transfer fluids market include Dow Chemicals, Shell, ExxonMobil, Eastman Company, BASF, Huntsman Corporation, Chevron Corporation.

Read Our Blog: http://www.grandviewresearch.com/blogs/bulk-chemicals

Grand View Research has segmented the heat transfer fluids market on the basis of product, application and region:

Global Heat Transfer Fluids Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)

  • Silicone & Aromatics
  • Mineral Oils
  • Glycol-Based Fluids
  • Others

Global Heat Transfer Fluids Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)

  • Oil & Gas
  • Chemical
  • Concentrated Solar Power (CSP)
  • Food & Beverages
  • Plastics
  • Pharmaceuticals
  • Heating, Ventilating & Air Conditioning (HVAC)
  • Others

Global Heat Transfer Fluids Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)

  • North America
    • US.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
  • Asia Pacific Middle East & Africa
    • China
    • India
    • Japan
  • Central & South America

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

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Compressor Oil Market Data Shows Promising Growth Owing To Developing End-Use Industries

The global Compressor Oil Market is expected to reach USD 97.15 billion by 2024, according to a new report by Grand View Research, Inc. increasing industrialization in Asia Pacific and the Middle East is expected to remain a key driving factor for global compressor oil market over the forecast period.

compressor-oil-market

Various attributes of compressor oil such as cooling, sealing and lubricating the internal components which ensure continuous operation and helps in reducing downtime and repair is also expected to drive its demand. Moreover, these lubricants maintain the equipment temperature and therefore keep them cool.

The equipment heating results in higher power consumption and wear & tear of the machine. Cost optimization practices adopted by various manufacturing companies are also expected to drive demand for compressor oil. It is observed that organizations have been implementing continuous improvement projects to reduce power consumption & maintain continuous operational flow undertake good lubrication practices.

Positive displacement based products are widely used in industries owing to their high performance and low maintenance cost. Therefore, the segment accounted for the majority of compressor oil consumed globally. Demand for positive displacement type is expected to develop at an approximate CAGR of 5.0% from 2016 to 2024.

Browse Full Research Report on Compressor Oil Market: http://www.grandviewresearch.com/industry-analysis/compressor-oil-market

Further key findings from the report suggest:

  • Global compressor oil market demand was 6.80 million tons in 2015 and is expected to reach 10.44 million tons by 2024, growing at a CAGR of 4.9% from 2016 to 2024
  • Synthetic was the leading base oil used in compressor oil and accounted for 43.2% of global volume in 2015. High performance associated with synthetic oils are expected to drive their demand over the forecast period.
  • Increasing global awareness with respect to environmental issues is anticipated to drive the bio-based oil demand. The segment is anticipated to grow at an estimated CAGR of 5.1% from 2016 to 2024.
  • Manufacturing and automotive sector together accounted for over half of the global demand in 2015. Energy industry is expected to capture around one-fifth of revenue share in 2024 with an approximate growth rate of 6% from 2016 to 2024.
  • Asia Pacific is expected to observe the highest regional growth at an approximate CAGR of 5.6% owing to the rapid industrialization in emerging economies including China, India, and South Korea.
  • Key players operating in the global industry are ExxonMobil, Royal Dutch Shell, Total S.A, Lukoil, British Petroleum, Chevron Corporation, BASF, The Dow Chemical, Sasol Limited, Sinopec Limited, Croda International and Fuchs Petrolub.

Read Our Blog: http://www.grandviewresearch.com/blogs/bulk-chemicals

Grand View Research has segmented the compressor oil market on the basis of compressor type, base oil, end-use and region:

Global Compressor Oil Compressor Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 – 2024)

  • Positive Displacement Compressor
  • Dynamic Compressor

Global Compressor Oil Base Oil Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 – 2024)

  • Synthetic
  • Semi-Synthetic
  • Mineral
  • Bio-Based

Global Compressor Oil End Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 – 2024)

  • Manufacturing
  • Oil & Gas
  • Power
  • Automotive
  • Others

Global Compressor Oil Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 – 2024)

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • Middle East and Africa
    • Saudi Arabia
    • South Africa
    • Kuwait
    • Iraq
  • Central & South America
    • Brazil
    • Argentina
    • Venezuela

Browse Press Release of this Report: http://www.grandviewresearch.com/press-release/global-compressor-oil-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Increasing Demand from Cosmetic and Biodiesel Industries is expected to drive growth to the Iran Palm Oil Market

The Iran Palm Oil Market is expected to reach USD 648.40 million by 2025, according to a new report by Grand View Research, Inc. Increasing usage in cosmetics and biodiesel industries has contributed to a significant portion of market revenue in recent years. The termination of Western sanctions followed by the agreement regarding nuclear issues has had a beneficial impact on Iran’s economy, attracting higher foreign investments in the country. Malaysia is negotiating a reduction of tariffs under a free trade agreement, which is expected to boost trade relations with Iran once again. The removal of the import quota has had an immense impact on the Iranian industry as well, further stimulating growth in recent years.

palm-oil-market.png

Lower palm product prices as compared to other vegetable products such as soybean, sunflower & groundnut has also led to higher substitution in the food & beverage, cosmetics, and biodiesel industries.

Crude palm oil (CPO) is expected to remain the dominant segment occupying over 88% volume share in 2015. Despite a decline in consumption levels in 2014, the product has witnessed steady recovery, gaining an edge over kernel products in the following years. CPO is widely used to derive other products such as RBD, which are then utilized in bakery, cooking and other non-food applications.

Browse Full Research Report on Iran Palm Oil Market: http://www.grandviewresearch.com/industry-analysis/iran-palm-oil-market

Further key findings from the report suggest:

  • The Iran palm oil market was USD 232.25 million in 2015 and is anticipated to reach USD 648.40 million by 2025
  • Refined, bleached and deodorized (RBD) oil is anticipated to emerge as the fastest growing segment, derived from CPO, with a projected CAGR of 10.2% in terms revenue from 2016 to 2025
  • RBD has multiple uses in the food and industrial sectors, serving as an ideal substitute to other expensive vegetable-based products
  • Palm kernel oil (PKO) is expected to remain a dominant sub-segment of the kernel products market, occupying over 92% of the volume share in 2015
  • The hydrogenated form of PKO is high in saturates and provides a good flavor release in ice cream & confectionery, leading to its demand in these food processing applications
  • Cosmetics is anticipated to grow at a CAGR of 7.6% in terms of revenue. Growing awareness regarding personal grooming & beauty, along with the proliferation of advertising campaigns has impacted Iran’s cosmetics sector and introduced new avenues for growth.
  • Key importers in the industry include Middle East Gold Star Co., Kala Gostaran Sabz Andish Co Ltd, Pars Vegetable Oil Co., Cargill, Golbarg Baharan, Savola Behshar Company, Jahan Vegetable Oil Company, Eghtsad-Andish Inc., Margarine Manufacturing Co. Ltd.
  • Other companies such as Farayardehaye Roghanie Iran Co., KVSGS Co., AAK-AB, AL-Khaleej Industries Sdn Bhd, Golestan Dezful Cultivation & Industry Co., Narges Shiraz Vegetable Oil Co. also have considerable presence in the region

Read Our Blog: http://www.grandviewresearch.com/blog/iran-palm-oil-market-size-share

Grand View Research has segmented the Iran palm oil market on the basis of product & application:

Iran Palm Oil Product Outlook (Volume, Tons; Revenue, USD Million; 2014 – 2025)

  • Crude Palm Oil
    • Refined, Bleached & Deodorized (RBD) Oil
    • Palm Stearin
    • Palm Olein
  • Palm Kernel
    • Palm Kernel Oil
    • Palm Kernel Cake

Iran Palm Oil Application Outlook (Volume, Tons; Revenue, USD Million; 2014-2025)

  • Edible Oil
  • Cosmetics
  • Bio-Diesel
  • Lubricants
  • Surfactants
  • Others

Access Press Release of this Report: http://www.grandviewresearch.com/press-release/iran-palm-oil-market-analysis

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Liquid Nitrogen Market is anticipated to witness to grow at a CAGR of 4.4% from 2017 to 2025

The global liquid nitrogen market is expected to reach USD 21.3 Billion by 2025, according to a new report by Grand View Research, Inc. Globally, increasing consumption of electronic goods has been a major factor driving the market growth. In addition, growing healthcare industry has led to increase in demand for liquid nitrogen.

Due to its low temperature property it is used as a cryogen in cryotherapies, cryosurgeries, and cryopreservation to remove skin tags, warts, verrucae, skin cancers, and moles in addition to demolishing the decayed tissues. Liquid nitrogen shrink fitting solutions are one of the best fitted solutions for joining of two metals which cannot be welded, cemented or soldered.

Liquid Nitrogen Market.png

Rising demand in various application sectors including automotive, metals & fabrication, rubber & plastic, healthcare, electronics, construction, and food & beverages is projected to propel the market over the coming years. Rapid industrialization, infrastructural, and medical activities is anticipated to augment the market growth from 2017 to 2025.

Coolant function was projected to be the largest segment over the forecast period with a market share of 61.1% in terms of revenue in 2016. It is used in large number of applications to maintain low temperature such as food & beverages, electronics, chemicals, storage medium, healthcare, and metal fabrication to maintain low temperatures.

North America is expected to observe the biggest regional segment over the next eight years with an estimated CAGR of around 5.4% from 2017 to 2025.Increasing number of manufacturers and suppliers in this region is anticipated to spur the market growth. Asia Pacific is the fastest growing segment with potential growth opportunites. This region is expecting the rise in demand from industries such as metal manufacturing & fabrication, construction, food & beverage, and chemicals & pharmaceutical.

For Further Information: http://www.grandviewresearch.com/industry-analysis/liquid-nitrogen-market

Further key findings from the report suggest:

  • The global liquid nitrogen demand exceeded 7.85 million tons in 2016 and is expected to grow at a CAGR of 4.4% from 2017 to 2025
  • Cryogenic distillation emerged as the largest technology segment in 2016 and is estimated to generate revenue over USD 10.7 billion by 2025
  • Coolant segment was projected to be the largest function segment and is anticipated to witness moderate growth over the next eight years
  • Merchant liquid and bulk storage segment was 3.12 million tons in 2016 and is expected to grow at a CAGR of 4.4% over the forecast period
  • Chemicals and pharmaceuticals segment is anticipated to be the fastest growing end-user of liquid nitrogen as it is used from packaging to fire suppression in pharmaceutical sector
  • The industry in Asia Pacific is projected to witness significant growth over the next eight years owing to various developments across major economies, especially in the medical and food products industry. The regional market in terms of revenue is expected to grow at a CAGR of 6.3% from 2017 to 2025
  • Key players including, The Linde Group, Praxair Inc., Air Liquide S.A. and Air Products & Chemicals dominated the global liquid nitrogen market while accounting for major share of the total volume in 2016

Read our Blog: http://www.grandviewresearch.com/blogs/bulk-chemicals

Grand View Research has segmented the global liquid nitrogen market on the basis of technology, function, storage, end-use, and region:

Liquid Nitrogen Technology Outlook (Volume, Million Tons; Revenue, USD Million, 2014 – 2025)

  • Cryogenic distillation
  • Pressure swing adsorption
  • Others

Liquid Nitrogen Function Outlook (Volume, Million Tons; Revenue, USD Million, 2014 – 2025)

  • Coolant
  • Refrigerant

Liquid Nitrogen Storage Outlook (Volume, Million Tons; Revenue, USD Million, 2014 – 2025)

  • Cylinders & packaged gas
  • Merchant liquid/ Bulk
  • Tonnage
  • Others

Liquid Nitrogen End-use Outlook (Volume, Million Tons; Revenue, USD Million, 2014 – 2025)

  • Chemicals &pharmaceuticals
  • Healthcare
  • Food &beverages
  • Metal manufacturing &construction
  • Rubber &plastic
  • Others

Liquid Nitrogen Regional Outlook (Volume, Million Tons; Revenue, USD Million, 2014 – 2025)

  • North America
    • US.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Belgium
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Central & South America
  • Middle East & Africa

Browse Press Release of this Report: http://www.grandviewresearch.com/press-release/global-liquid-nitrogen-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Growing demand for Polyethylene Terephthalate for Packaging Applications is contributing major role in growth of Ethylene Glycols Market

The global ethylene glycol Market is expected to reach USD 33.36 billion by 2020, according to a new study by Grand View Research, Inc. Growing demand for polyethylene terephthalate (PET) for packaging applications, primarily in Asia Pacific and Latin America is expected to remain a key driving factor for the market. In addition, growth from global textiles industry is also expected to support the ethylene glycol market development over the forecast period. Volatile prices and tight supply of raw materials, on account of frequent fluctuations in crude oil prices is expected to inhibit the market growth over the next six years.

Monoethylene glycol (MEG) emerged as the leading product segment and accounted for 89.9% of total market volume in 2013. MEG in addition to being the largest product segment is also expected to be the fastest growing ethylene glycol at an estimated CAGR of 4.8% from 2014 to 2020. MEG is mainly used for manufacturing PET and growth of global beverages market is expected to drive the demand for MEG over the forecast period. Global market for di-ethylene glycol (DEG) is expected to reach USD 337.1 million by 2020.

To Request for Sample Copy of this report: http://www.grandviewresearch.com/industry-analysis/ethylene-glycols-industry

Further key findings from the study suggest:

  • The global market volume for ethylene glycols was 16,511 kilo tons in 2013 and is expected to reach 22,815.4 kilo tons by 2020, growing at a CAGR of 4.7% from 2014 to 2020.
  • PET emerged as the leading application market for ethylene glycols and accounted for 44.2% of total market volume in 2013. Growth of beverages industry mainly in Asia Pacific and Latin America is expected to drive this market over the next six years. Polyester fibers are expected to be the fastest growing market for ethylene glycols at an estimated CAGR of 5.1% from 2014 to 2020.
  • Asia Pacific dominated the global ethylene glycols market and accounted for 66.5% of total market volume in 2013. Asia Pacific along with being the largest market is also expected to be the fastest growing market for ethylene glycols at an estimated CAGR of 4.9% from 2014 to 2020. This can be attributed to the growth of textile and automotive industries in the region. North America and European markets for ethylene glycols have reached their saturation point and are expected to grow at a relatively lower growth rates over the forecast period.
  • The global market for ethylene glycol is fairly concentrated with top four companies operating in the market including SABIC, Dow Chemical Company, Sinopec and Shell Chemical accounted for over 50% of total market in 2013. Other companies operating in the market include Formosa Plastics Group, Honam Petrochemicals and Ineos.

Read Our Blog: http://www.grandviewresearch.com/blogs/bulk-chemicals

For the purpose of this study, Grand View Research has segmented the ethylene glycol market on the basis of product, application and region:

Global Ethylene Glycol Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
            • Monoethylene Glycol (MEG)
• Diethylene Glycol (DEG)
• Triethylene Glycol (TEG)
Global Ethylene Glycol Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
            • PET
• Polyester Fibers
• Antifreeze
• Films
• Others
Ethylene Glycol Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 – 2020)
• North America
• Europe
• Asia Pacific
• RoW

Browse Press Release of this Report: http://www.grandviewresearch.com/press-release/global-ethylene-glycols-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Rising HVAC demand for Advanced & High Quality Heating And Cooling Systems is expected to be a key factor steering the growth in the coming years

The global glycols market value is anticipated to exceed USD 47.2 billion by 2025, according to a new report by Grand View Research, Inc. The rising HVAC demand for advanced and high quality heating and cooling systems is expected to be a key factor steering the growth in the coming years.

Glycols include ethylene, propylene and its derivatives are predominately used in the automotive sector as engine antifreeze and coolant products with lower freezing points. The growing product demand in key end-use industries including food & beverage, textiles, medical, and aerospace are expected to increase the consumption globally.Heavy industrialization in countries such as Japan, China, and India have contributed significantly to the glycols demand over the recent past.
us-glycols-market.png

Heating, ventilating, and air conditioning (HVAC) sector dominated the global consumption with demand exceeding 4,100 kilo tons in 2015. Textiles accounted for over 12% of global revenue in 2015. Stringent chemical disposal regulations in the North American and European region have contributed to this demand in the recent past and are expected to continue the trend over the forecast period.

Growing R&D initiatives by key participants coupled with technological advancements to discover novel diol products with higher efficiency level and durability are expected to create new opportunities for the industrial applications.

Access research report onglycols market analysis: http://www.grandviewresearch.com/industry-analysis/glycols-market

Further key findings from the report suggest:

  • The global glycols demand was exceeded 19,300 kilo tons in 2015 and is estimated to grow at a CAGR of 4.6% from 2016 to 2025
  • Ethylene glycols dominated the global product consumption while accounting for over 83% of the total market value in 2015
  • Asia Pacific is expected to witness the largest growth in next nine years and is expected to grow at an estimated CAGR of 5.0% from 2016 to 2025. Key participants and regional local players are adopting expansion and merger strategies to increase its manufacturing capacity and gain higher profits.
  • The U.S. propylene glycol demand is estimated to reach a net worth of USD 653.6 million by 2025 at a CAGR of 5.9% from 2016 to 2025
  • Monoethylene glycol (MEG) demand in Europe was over 3,950 kilo tons in 2015 and is estimated to grow at a CAGR of 4.2% over the forecast period to reach a total volume exceeding 5,680 kilo tons by 2025
  • Major multinational companies including BASF, Dow Chemical Company, Royal Dutch Shell, Huntsman International LLC, SABIC, AkzoNobel, DuPont, and Reliance Industries dominated the global glycol market.

Read Our Blog: http://www.grandviewresearch.com/blog/glycols-market-size-share

Grand View Research has segmented the glycols market on the basis of product, application and region:

Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

  • Ethylene Glycol
    • Mono-ethylene glycol
    • Di-ethylene glycol
    • Tri-ethylene glycol
  • Propylene Glycol

Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

  • Automotive
  • HVAC
  • Textiles
  • Airline
  • Medical
  • Pipeline Maintenance
  • Polyester Fibers & resin
  • Food & Beverage Processing
  • Others

Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

  • North America
    • US.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK.
    • France
  • Asia Pacific
    • China
    • Japan
    • India
  • Central & South America
    • Brazil
  • Middle East & Africa

 About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Synthetic Lubricants Market is Predicted to gain popularity due to excellent Thermal Stability, Wear & Tear Protection Till 2024: Grand View Research

The global synthetic lubricants market is expected to reach USD 23.45 billion by 2024, according to a new report by Grand View Research, Inc. The rapidly expanding automotive industry, coupled with rising popularity of synthetic lubricants for automobile applications is projected to propel the market especially in countries such as South Korea, Brazil, and China.

Synthetic lubricants provide numerous benefits when used for automotive applications such as excellent thermal stability and low friction. Rising awareness regarding the advantages of the product, as opposed to its mineral counterparts, will augment industry growth over the forecast period. A major application of synthetic lubricants is their use as heat transfer fluids in heavy machinery and heat exchangers. Rising industrial sector in Asia Pacific countries will propel product demand over the forecast period.

Increasing R&D investment by companies for the introduction and development of improved grades is expected to fuel demand over the next eight years. However, low cost of mineral oils may reduce synthetic oil demand thus hampering industry development over the forecast period. Technological innovations related to anti-slip and flow properties of these products is expected to have a positive impact on the market over the forecast period.

Access Full Report on Synthetic Lubricants Market:
http://www.grandviewresearch.com/industry-analysis/synthetic-lubricants-market

Further key findings from the report suggest:

  • The global synthetic lubricants market demand was around 3,821.8 kilo tons in 2015 and is projected to reach 4,900.1 kilo tons by 2024 growing at a CAGR of 2.8% from 2016 to 2024.
  • PAO (Group IV) based synthetic lubricants was estimated at over 2,000.0 kilo tons. The compatibility of other mineral oils with synthetic oils is anticipated to be a major driver propelling the market. Although ester and PAG-based oils offer significantly better properties in comparison to PAO based oils, they are relatively more expensive which has thus resulted in lower market demand.
  • Engine oil was the largest application segment valued over USD 6,000.0 million in 2015. Rising need for high fuel economy coupled with growing demand for high-quality gear and motor oils is expected to have a positive impact on the market over the forecast period.
  • Asia Pacific is expected grow at a CAGR of over 3.0% from 2016 to 2024 on account of the growing industrial and automobile markets in the region. Furthermore, the European region witnessed the highest growth over the past few years on account of its large automotive manufacturing base in Germany.
  • The synthetic lubricants market is fragmented with few manufacturers investing heavily in R&D to gain a greater share of the market. Rising expenditure on the development and introduction of fire-resistant type hydraulic fluids and food grade oils is expected to be one of the critical success factors over the forecast period. Prominent market players include British Petroleum, Valvoline, Chevron, Shell, Exxon Mobil and Total.

Read Our Blog: http://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives

Grand View Research has segmented the global synthetic lubricants market on the basis of product, application and region:

Synthetic Lubricants Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)

  • PAO
  • Esters
  • PAG

Synthetic Lubricants Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)

  • Engine Oil
  • Heat Transfer Fluids (HTF)
  • Transmission Fluids
  • Metalworking Fluids
  • Others

Synthetic Lubricants Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)

  • North America
    • US.
  • Europe
    • Germany
    • UK
  • Asia Pacific
    • China
    • India
  • Latin America
    • Brazil
  • MEA
    • U.A.E

 About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com