The global esters synthetic lubricants market is projected to grow at a CAGR of 3.1% during the forecast period, 2019-2028. The research report on the global esters synthetic lubricant market provides detailed information about the key trends and drivers that have an impact on this growth rate such as demand for efficient engine oils and metalworking fluids, increasing environmental regulations, technological advancements in synthetic lubricants, and others.
Esters synthetic lubricants are a type of chemical compound that has been derived from naturally occurring fatty acids and alcohols. They are chemical compounds consisting of glycol and an alkyl ester. Ester-based additives have been used in different types of industries including the oil industry, for over 100 years to reduce viscosity levels by adding hydrogen atoms into fuel molecules as well as enhance their stability against oxidation. These properties make them suitable for use as synthetic lubricants in different industrial applications.
Esters are typically used to make a wide variety of oils which is why they need to be carefully chosen based on the application requirements. The emergence of technological advancements such as increased fuel efficiency norms across various regions has led to the increased use of ester-based synthetic oils in order to meet these standards.
on the basis of type, the global esters synthetic lubricant market is segmented into hydraulic oils, diesel and petrol engine oils, compressor oils, metalworking fluids, and others.
Hydraulic oils are a type of lubricant used in the hydraulic system. It has to be compatible with other fluids such as coolants and water-based muds that are typically found in these systems, so it must have low or zero volatility and excellent thermal stability. The most common types of hydraulic oil include mineral oil, synthetic hydrocarbons, and silicone.
In general, hydraulic oils are used to keep the moving parts of a machine or vehicle from sticking together by reducing friction between them. It also helps in regulating pressure inside the system as well as enhancing efficiency because it reduces heat buildup and minimizes wear.
Petroleum-based esters synthetic lubricants are used in the manufacturing of various kinds of engine oils. They have a higher viscosity index and better stability at high temperatures than petroleum-based mineral oil base stocks, which is why they are often preferred over these types. These synthetics may be derived from natural or synthetic material while their characteristics depend on the type of material used. They are made up of a variety of esters such as dibasic acid, di-tertiary butyl peroxide and ethylene oxide.
Compressor oils are a type of hydraulic oil used for lubricating the pistons and other moving parts in an air compressor or gas compressor. Compressed gases create high pressure inside the chamber, which can cause metal-to-metal contact and rubbing between movable components like piston rings or bearings to form. This friction creates heat, leading to the degradation of the compressor oils.
Metalworking Fluids are esters synthetic lubricants that perform well in high-temperature and aggressive environments. They're typically used for cutting, forming, welding or other metalwork processes which create a lot of heat and friction.
Metalworking fluids include esters synthetic lubricants and are usually specifically designed for the purpose of machining metal. They typically contain additives that help prevent rusting, clean deposits from tools, and reduce wear on machine surfaces. Metalworking fluids also provide coolant to protect against heat damage when grinding metals but should not be used as a substitute for water.
On the basis of application, the global esters synthetic lubricant market is segmented into OEM and aftermarket.
OEMs use esters synthetic lubricants for manufacturing different types of machinery and equipment. This type of product is used in various industries such as automotive, heavy equipment, construction, and mining. The OEM application of esters synthetic lubricant includes hydraulic oils, diesel engine oils, compressor oils, metalworking fluids, and others. The OEMs are the largest consumers of esters synthetic lubricants.
The aftermarket also consumes huge volumes of esters synthetic lubricant for repairing machines and equipment in various industries. The product is available through dealerships, retailers, or manufacturers' representatives that provide repair services to consumer's machinery and equipment. This type of application includes hydraulic oils, diesel engine oils, compressor oils, metalworking fluids, and other aftermarket applications.
On the basis of region, the global esters synthetic lubricant market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America was the largest consumer of esters synthetic lubricants in 2017. The region accounted for more than 30% share due to high demand from OEMs such as hydraulic oils and diesel engine oils
In the Asia-Pacific region, China is the largest country, accounting for more than 25% of total consumption. This can be attributed to a large number of OEMs and aftermarket customers in the region.
In Latin America, Brazil was the leading market owing to increasing demand from the automotive industry due to economic stability.
The Middle East & Africa accounted for less than 20% share in 2017. However, this region is expected to grow at the highest CAGR from 2018 to 2028.
The global esters synthetic lubricants market is driven by the need to provide a cost-effective alternative for maintenance and automotive repair. Moreover, stringent government regulations mandating the use of low viscosity hydraulic oils in tractors have enabled this segment to grow at a significant rate. The rising demand from OEMs as well as aftermarket segments for esters synthetic lubricants has also led to the growth of this market. Increasing demand for synthetic lubricants in the automotive and industrial sectors. Growing adoption of greener engine oils.
Up Market Research published a new report titled “Esters Synthetic Lubricants Market research report which is segmented by Types (Hydraulic Oils, Diesel and Petrol Engine Oils, Compressor Oils, Metalworking Fluids, Others), By Applications (OEMs, Aftermarket), By Players/Companies Fuchs Lubricants, INEOS, ExxonMobil, Chevron Corporation, Royal Dutch Shell, Amsoil, British Petroleum, International Lubricants”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Esters Synthetic Lubricants Market Research Report|
|By Type||Hydraulic Oils, Diesel and Petrol Engine Oils, Compressor Oils, Metalworking Fluids, Others|
|By Application||OEMs, Aftermarket|
|By Companies||Fuchs Lubricants, INEOS, ExxonMobil, Chevron Corporation, Royal Dutch Shell, Amsoil, British Petroleum, International Lubricants|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||231|
|Number of Tables & Figures||162|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Hydraulic Oils, Diesel and Petrol Engine Oils, Compressor Oils, Metalworking Fluids, Others and By Application OEMs, Aftermarket.
Some of the companies that are profiled in this report are:
Esters Synthetic Lubricants Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Esters Synthetic Lubricants Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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