The report "Synthetic Lubricants Market by Type (PAO, PAG, Esters, Group III), Application (Engine Oil, Hydraulic Fluids, Metalworking Fluids, Compressor Oil, Gear Oil, Refrigeration Oil, Transmission Fluids, Turbine Oil), Region - Global Forecast to 2023" The synthetic lubricants market is projected to reach USD 37.3 billion by 2023, at a CAGR of 3.0%, from USD 32.2 billion in 2018. Synthetic lubricants are widely used in the manufacturing and transportation sectors, such as automotive, aviation, marine, transportation equipment manufacturing, metal production, commercial machinery manufacturing, food & beverage, and rubber & plastic industries. Hence, the rapid growth in these industries is expected to contribute to the growth of the synthetic lubricants market. Furthermore, the use of synthetic lubricants is very essential in the engine oil segment. The automotive industry is the largest consumer for engine oil and the rapid growth of the industry is expected to drive the demand for synthetic lubricants.