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The synthetic lubricants market is anticipated to register nearly 2 percent CAGR during 2016 to 2024 (forecast period).
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Your Catalyst to a Lucrative Business Synthetic Lubricants Market Share, Size, Key Players, Research and Forecasts to 2024 | Hexa Research “The worldwide automotive sunroof market was valued at around USD 4.70 billion in 2014. The industry is expected to grow at nearly 10% CAGR and surpass USD 9 billion from 2016 to 2024.” The synthetic lubricants market is anticipated to register nearly 2 percent CAGR during 2016 to 2024 (forecast period). This signifies considerable market expansion in the same period. Growing end-users, such as industrial and automotives across developing nations, like China and India, should account for the same. These products are highly popular due to their favorable properties as against conventional lubricants. Some of these properties include wear & tear protection and outstanding thermal stability. These coupled with heavy ‘load holding’ & low ‘friction’ features are also likely to drive market growth in the near future. Innovative technologies, such as ester-based fire-resistant oils are incorporated across different industries & sectors. Moreover, several major OEMs have imposed food lubrication NSF standards to adopt PAO products in beverages, nutrition, & food sectors. Browse Details of Report @ https://www.hexaresearch.com/research-report/synthetic-lubricants-industry All these factors can open novel market prospects. However, a primary market restraint involves high prices of these products in comparison to their mineral counterparts. Additionally, rising consumption of mineral oils, particularly in India & China, will have a negative market impact over the forecast period. Also, inaptness of PAOs with PAG & other conventional mineral oils may hinder the market in the eight years ahead. Follow Us:
Your Catalyst to a Lucrative Business Expanding automotives & urbanization could also propel market sales. Favorable properties of these lubricants augur well for the synthetic lubricants market. The market is fragmented by products, applications, and geographies. Products consist of esters, PAG (polyalkylene glycol), group 3 (hydrocracking), and polyalphaolefin (PAO). PAO reigned recently and is expected to continue likewise till 2024. PAO based lubricants are compatible with other mineral & synthetic oils. Their compatibility would propel the market in the eight years ahead. Esters are projected to observe considerable profits (regarding volumes) from 2016 to 2024. Wider adoption of esters across jet engines due to their high thermal stability can positively impact this segment. In terms of applications, engine oils led the market in the recent past. Sales of automotives in India and China are likely to increase segment demand till 2024. With regards to geographies, Asia Pacific was the biggest market in 2015. Asia Pacific is predicted to experience the highest CAGR over the forecast period. Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/petrochemicals- market About Us: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives. Contact Us: Ryan Shaw Hexa Research Felton Office Plaza 6265 Highway 9 Felton, California 95018 United States Phone: +1-800-489-3075 Email: sales@hexaresearch.com Website - https://www.hexaresearch.com Follow Us:
