Portland, OR -- (SBWIRE) -- 09/04/2017 -- Synthetic lubricants & functional fluids are manufactured using chemically modified petroleum components such as glycols, polyalphaolefins, esters, group III & IV base oils, aromatics, silicone fluids, and others. They possess high viscosity indexes, high temperature stability, low pouring points, and low traction coefficients, which make them superior to the conventional mineral oils. Superior performance is attainable using synthetic lubricants and functional fluids over conventional mineral oil in terms of low friction, high temperature performance, and higher load carrying capacity.

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Superior properties of synthetic lubricants & functional fluids over conventional minerals is the key factor that drives the market growth. Increase in demand for higher fuel economy fuels the use of high-quality motor and gear oils. Thus, requirement of high-performance products, reduced maintenance, minimal disposal problems, and stringent environmental regulations for CO2 emissions further accelerates the market growth. Increase in pace of industrialization is expected to provide new opportunities for the market players. However, high cost of synthetic lubricants & functional fluids hampers the market growth.

The major players profiled in this study include:
- Exxon Mobil
- Prestone Products
- Royal Dutch Shell
- AMSOIL Incorporated
- Ashland Incorporated
- Autoparts Holdings Limited
- BASF SE
- Chevron Corporation
- CLC Lubricants Company
- Warren Oil Company Incorporated

Synthetic Lubricants & Functional Fluids Market Key Segmentation:
By Product
- Engine Oils
- Transmission & Hydraulic Fluids
- Antifreeze & Deicing Fluids
- Metalworking Fluids
- Heat Transfer Fluids
- Dielectric Fluids

By Synthetic Base Stock
- Glycols
- Polyalphaolefins
- Esters
- Group III & IV Base Oils
- Aromatics
- Silicone Fluids
- Others

By End-use Industry
- Automotive
- Aerospace
- Metals
- Industrial Machinery
- Power Generation
- Construction
- Process Industry
- Others

By Geography
- North America
o U.S.
o Canada
o Mexico

- Europe
o UK
o Germany
o France
o Italy
o Spain
o Rest of Europe

- Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific

- LAMEA
o Brazil
o Argentina
o Africa
o Saudi Arabia
o UAE
o Rest of LAMEA

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