Synthetic Lubricants Market Expected To Trigger A Revenue Increase To 23.45 Billion By 2024:Key Participant British Petroleum, Valvoline

San Francisco, 28 November 2018,  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 Research Report On  Synthetic Lubricants Market Analysis:
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.

Browse More Reports Of This Category By Grand View Research At:   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

o    U.S.

·         Europe

o    Germany

o    UK

·         Asia Pacific

o    China

o    India

·         Latin America

o    Brazil

·         MEA

o    U.A.E

Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-synthetic-lubricants-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/

Heat Transfer Fluids Market Likely To Reach A Valuation Of Around USD 3.68 Billion By 2022 | Key Industry participants Dow Chemicals, Shell, ExxonMobil

U.S. heat transfer fluids market volume by product, 2012-2022 (Kilo Tons)

San Francisco, 25 September 2018, Global HeatTransfer 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. 

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. 

Full Research Report On Heat Transfer Fluids Market Analysis:
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.

Browse More Reports Of This Category By Grand View Research At: www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives

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

o    U.S.

o    Canada

o    Mexico

·         Europe

o    Germany

o    UK

·         Asia Pacific Middle East & Africa

o    China

o    India

o    Japan

·         Central & South America

Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-heat-transfer-fluids-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