Synthetic & Functional Fluid Market - Global Forecast to 2025
The synthetic & functional fluid market is expected to grow at a significant CAGR owing to benefits offered by synthetics over conventional petroleum fluids, such as better wear protection, longer fluid lifetimes, and improved energy efficiency. Hence, improved and more sustainable properties of synthetic & functional fluids over conventional minerals is the key factor that drives the market growth. Additionaly, increase in demand for better fuel economy fuels the use of high-quality gear and motor oils. Thus, requirement of high-performance products, minimal disposal problems, reduced maintenance, and strict environmental regulations for CO2 emissions further accelerates the market growth.
Years considered for this report:
- 2016 – Base Year
- 2017 – Estimated Year
- 2019, 2022 & 2025 – Projected Years
Objectives of the Study:
- To define and segment the Synthetic & Functional Fluid Market, in terms of volume (Million Gallons) and value (USD million), by product at regional level.
- To define and segment the Synthetic & Functional Fluid Market, in terms of volume (Million Gallons) and value (USD million), by material at regional level.
- To define and segment the Synthetic & Functional Fluid Market, in terms of volume (Million Gallons) and value (USD million), by vehicle type at regional level.
- To define and segment the Synthetic & Functional Fluid Market, in terms of volume (Million Gallons) and value (USD million) at regional level.
The research methodology used in the report involves primary and secondary sources. Secondary sources include associations such as International Organization of Motor Vehicle Manufacturers (OICA), Emission Controls Manufacturers Association (ECMA), European Automobile Manufacturers Association (EAMA), Environmental Protection Agency (EPA), and International Council on Clean Transportation (ICCT) and paid databases and directories such as Factiva and Bloomberg. The primary sources include experts from the core and related industries, suppliers, manufacturers, distributors, service providers, technology developers, and organizations related to various segments of this industry’s value chain. Detailed interviews have been conducted with various primary respondents that include key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants. The bottom-up approach has been used to estimate and validate the size of the Synthetic & Functional Fluid market. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. To arrive at the market size for Synthetic & Functional Fluid market, by product and material, the top-down approach has been followed. In this approach global market of Synthetic & Functional Fluid is calculated and then it has been divided into regional level and further into country level. The market numbers has been validated by industry experts.
The Synthetic & Functional Fluid ecosystem consists of manufacturers such as BASF SE (Germany), Chevron Corporation (US), Dow Chemical Company (US), RSC Bio Solutions (US), Valvoline Llc (US), FUCHS (Germany), DuPont (US), Royal Dutch Shell plc (Netherlands), BP Plc (UK), among others.
Target Audience
- Aftermarket Suppliers of Automotive Engine Coolant
- Automotive Original Equipment Manufacturers (OEM)
- Experts from the automotive industry
- Raw Material Suppliers for Automotive Lubricants
- The automobile industry as an end-use industry and regional automobile associations
- Traders, distributors, and suppliers of minerals (petroleum and bio-based)
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Request Sample Scope of the Report
- By Product
- Engine Oil
- Antifreeze
- Transmission Fluid
- Hydraulic Fluid
- Heat transfer fluid
- By Material
- Glycols
- Polyalphaolefin
- Group III base oils
- Esters
- Aromatics-based chemicals
- Silicone fluids
- By Vehicle type
- Passenger Cars
- LCV
- HCV
- By Region
- North America
- Asia Oceania
- Europe
- RoW
Table of Contents
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered in the Report
1.4 Currency
1.5 Package Size
1.6 Limitations
1.7 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Secondary Data
2.2.1 Key Secondary Sources
2.2.2 Data From Secondary Sources
2.3 Primary Data
2.3.1 Sampling Techniques & Data Collection Methods
2.3.2 Primary Participants
2.4 Factor Analysis
2.5 Market Size Estimation
2.6 Market Crackdown and Data Triangulation
2.7 Assumptions
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenge
5.3 Macro Economic Indicators
6 Technological Overview
7 Synthetic & Functional Fluid Market, By Product
7.1 Introduction
7.2 Synthetic & Functional Fluid Market, By Product
7.2.1 Engine Oil
7.2.2 Antifreeze
7.2.3 Transmission Fluid
7.2.4 Hydraulic Fluid
7.2.5 Heat Transfer Fluid
8 Synthetic & Functional Fluid Market, By Material
8.1 Introduction
8.2 Synthetic & Functional Fluid Market, By Material
8.2.1 Glycols
8.2.2 Polyalphaolefin
8.2.3 Group Iii Base Oils
8.2.4 Esters
8.2.5 Aromatics-Based Chemicals
8.2.6 Silicone Fluids
9 Synthetic & Functional Fluid Market, By Vehicle Type
9.1 Introduction
9.2 Synthetic & Functional Fluid Market, By Vehicle Type
9.2.1 Passenger Cars
9.2.2 LCV
9.2.3 HCV
10 Synthetic & Functional Fluid Market, By Country
10.1 Introduction
10.2 Synthetic & Functional Fluid Market, By Country
10.2.1 Asia Oceania
10.2.1.1 China
10.2.1.2 Japan
10.2.1.3 India
10.2.1.4 South Korea
10.2.2 Europe
10.2.2.1 Germany
10.2.2.2 UK
10.2.2.3 France
10.2.2.4 Spain
10.2.2.5 Italy
10.2.3 North America
10.2.3.1 US
10.2.3.2 Canada
10.2.3.3 Mexico
10.2.4 RoW
10.2.4.1 Brazil
10.2.4.2 Russia
11 Competitive Landscape
11.1 Overview
11.2 Market Ranking Analysis
11.3 Competitive Situation & Trends
11.3.1 Supply Contracts/Partnerships/Joint Ventures
11.3.2 New Product Developments
11.3.3 Expansions
11.3.4 Mergers & Acquisitions
12 Company Profiles
(Business Overview, Product Portfolio, SWOT Analysis, Recent Developments, MnM View)*
12.1 BASF SE
12.2 Chevron Corporation
12.3 DOW Chemical Company
12.4 Radiator Specialty
12.5 Valvoline LLC
12.6 Fuchs
12.7 Dupont (EI) De Nemours
12.8 Royal Dutch Shell
12.9 Autoparts Holdings Limited
12.10 BP PLC
13 Appendix
Growth opportunities and latent adjacency in Synthetic & Functional Fluid Market