Global Synthetic Lubricants Market Size Study & Forecast, by Product, Application and Regional Forecasts 2025-2035

Description

The Global Synthetic Lubricants Market was valued at approximately USD 18.82 billion in 2024 and is poised to expand at a CAGR of 3.70% over the forecast period from 2025 to 2035. Synthetic lubricants-engineered fluids composed of chemically modified base oils-are increasingly reshaping the modern lubrication landscape. These high-performance fluids surpass traditional mineral oils in terms of thermal stability, oxidation resistance, and overall longevity. Their demand continues to gather momentum, fueled by the rising emphasis on improving fuel economy, reducing emissions, and extending the lifespan of equipment and engines across industries including automotive, aerospace, and industrial machinery. Furthermore, as environmental regulations tighten globally, synthetic lubricants are being embraced as sustainable solutions that offer enhanced protection with fewer replacements, thereby supporting circular economy goals.

The surging demand for synthetic lubricants can be directly traced to the exponential growth in automotive and industrial manufacturing. For instance, in the automotive sector, OEMs are increasingly opting for advanced lubricants that reduce engine friction, thus boosting performance and minimizing wear and tear. According to industry analyses, synthetic engine oils now account for over half of global lubricant consumption in passenger cars. In industrial sectors, synthetic transmission fluids and heat transfer fluids are being widely adopted in high-temperature applications, owing to their ability to operate efficiently under extreme stress. Moreover, the expanding scope of applications-ranging from metalworking to hydraulics and turbines-is pushing lubricant manufacturers to innovate with next-gen polyalphaolefins (PAOs), esters, and polyalkylene glycols (PAGs) that provide superior efficiency and reliability.

From a regional perspective, North America has historically held a significant share in the synthetic lubricants market, driven by its mature automotive industry, high awareness regarding product benefits, and stringent vehicle emission norms. The U.S., in particular, remains a hub for synthetic engine oils, given the high vehicle ownership rate and trend toward premium lubricants. Meanwhile, Asia Pacific is expected to witness the fastest growth throughout the forecast timeline, underpinned by escalating industrial activities, booming vehicle production, and growing investment in energy-efficient technologies across China, India, and Southeast Asia. Europe continues to lead the way in sustainable lubricant adoption, propelled by its firm stance on carbon neutrality, ongoing technological advancements, and proactive policy framework. Latin America and the Middle East & Africa are also displaying steady growth, supported by infrastructure expansion and increased equipment utilization in oil & gas and mining sectors.

Major market player included in this report are:

BASF SE
Shell plc
ExxonMobil Corporation
Chevron Corporation
TotalEnergies SE
Fuchs Petrolub SE
Idemitsu Kosan Co., Ltd.
Petroliam Nasional Berhad (PETRONAS)
Valvoline Inc.
The Lubrizol Corporation
AMSOIL Inc.
BP p.l.c.
Royal Dutch Shell
Phillips 66
ENEOS Corporation

Global Synthetic Lubricants Market Report Scope:

Historical Data - 2023, 2024
Base Year for Estimation - 2024
Forecast period - 2025-2035
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

By Product:

Esters
Polyalphaolefin (PAO)
Polyalkylene Glycol (PAG)

By Application:

Engine Oil
Heat Transfer Fluids (HTFs)
Transmission Fluids
Metalworking Fluids

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa

Key Takeaways:

Market Estimates & Forecast for 10 years from 2025 to 2035.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Synthetic Lubricants Market Report Scope & Methodology

1.1. Research Objective
1.2. Research Methodology
- 1.2.1. Forecast Model
- 1.2.2. Desk Research
- 1.2.3. Top-Down and Bottom-Up Approach
1.3. Research Attributes
1.4. Scope of the Study
- 1.4.1. Market Definition
- 1.4.2. Market Segmentation
1.5. Research Assumptions
- 1.5.1. Inclusion & Exclusion
- 1.5.2. Limitations
- 1.5.3. Years Considered for the Study

Chapter 2. Executive Summary

2.1. CEO/CXO Standpoint
2.2. Strategic Insights
2.3. ESG Analysis
2.4. Key Findings

Chapter 3. Global Synthetic Lubricants Market Forces Analysis

3.1. Market Forces Shaping the Global Synthetic Lubricants Market (2024-2035)
3.2. Drivers
- 3.2.1. Growing Automotive & Industrial Demand
- 3.2.2. Stricter Emission Norms & Sustainability Mandates
3.3. Restraints
- 3.3.1. High Raw-Material & Production Costs
- 3.3.2. Crude Oil Price Volatility
3.4. Opportunities
- 3.4.1. Innovation in Base-Oil Technologies
- 3.4.2. Rapid Industrialization in Emerging Economies

Chapter 4. Global Synthetic Lubricants Industry Analysis

4.1. Porter's Five Forces Model
- 4.1.1. Bargaining Power of Buyers
- 4.1.2. Bargaining Power of Suppliers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's Five-Forces Forecast Model (2024-2035)
4.3. PESTEL Analysis
- 4.3.1. Political
- 4.3.2. Economic
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top Investment Opportunities
4.5. Top Winning Strategies (2025)
4.6. Market Share Analysis (2024-2025)
4.7. Global Pricing Analysis and Trends 2025
4.8. Analyst Recommendations & Conclusion

Chapter 5. Global Synthetic Lubricants Market Size & Forecasts by Product 2025-2035

5.1. Market Overview
5.2. Esters
- 5.2.1. Top Countries: Estimates & Forecasts, 2024-2035
- 5.2.2. Regional Size Analysis, 2025-2035
5.3. Polyalphaolefin (PAO)
- 5.3.1. Top Countries: Estimates & Forecasts, 2024-2035
- 5.3.2. Regional Size Analysis, 2025-2035
5.4. Polyalkylene Glycol (PAG)
- 5.4.1. Top Countries: Estimates & Forecasts, 2024-2035
- 5.4.2. Regional Size Analysis, 2025-2035

Chapter 6. Global Synthetic Lubricants Market Size & Forecasts by Application 2025-2035

6.1. Market Overview
6.2. Engine Oil
- 6.2.1. Top Countries: Estimates & Forecasts, 2024-2035
- 6.2.2. Regional Size Analysis, 2025-2035
6.3. Heat Transfer Fluids (HTFs)
- 6.3.1. Top Countries: Estimates & Forecasts, 2024-2035
- 6.3.2. Regional Size Analysis, 2025-2035
6.4. Transmission Fluids
- 6.4.1. Top Countries: Estimates & Forecasts, 2024-2035
- 6.4.2. Regional Size Analysis, 2025-2035
6.5. Metalworking Fluids
- 6.5.1. Top Countries: Estimates & Forecasts, 2024-2035
- 6.5.2. Regional Size Analysis, 2025-2035

Chapter 7. Global Synthetic Lubricants Market Size & Forecasts by Region 2025-2035

7.1. Regional Market Snapshot
7.2. Top Leading & Emerging Countries
7.3. North America
- 7.3.1. U.S.
  - 7.3.1.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.3.1.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.3.2. Canada
  - 7.3.2.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.3.2.2. Application Breakdown Size & Forecasts, 2025-2035
7.4. Europe
- 7.4.1. UK
  - 7.4.1.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.4.1.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.4.2. Germany
  - 7.4.2.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.4.2.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.4.3. France
  - 7.4.3.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.4.3.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.4.4. Spain
  - 7.4.4.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.4.4.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.4.5. Italy
  - 7.4.5.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.4.5.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.4.6. Rest of Europe
  - 7.4.6.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.4.6.2. Application Breakdown Size & Forecasts, 2025-2035
7.5. Asia Pacific
- 7.5.1. China
  - 7.5.1.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.5.1.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.5.2. India
  - 7.5.2.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.5.2.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.5.3. Japan
  - 7.5.3.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.5.3.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.5.4. Australia
  - 7.5.4.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.5.4.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.5.5. South Korea
  - 7.5.5.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.5.5.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.5.6. Rest of Asia Pacific
  - 7.5.6.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.5.6.2. Application Breakdown Size & Forecasts, 2025-2035
7.6. Latin America
- 7.6.1. Brazil
  - 7.6.1.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.6.1.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.6.2. Mexico
  - 7.6.2.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.6.2.2. Application Breakdown Size & Forecasts, 2025-2035
7.7. Middle East & Africa
- 7.7.1. UAE
  - 7.7.1.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.7.1.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.7.2. Saudi Arabia
  - 7.7.2.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.7.2.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.7.3. South Africa
  - 7.7.3.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.7.3.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.7.4. Rest of Middle East & Africa
  - 7.7.4.1. Product Breakdown Size & Forecasts, 2025-2035
  - 7.7.4.2. Application Breakdown Size & Forecasts, 2025-2035

Chapter 8. Competitive Intelligence

8.1. Top Market Strategies
8.2. BASF SE
- 8.2.1. Company Overview
- 8.2.2. Key Executives
- 8.2.3. Company Snapshot
- 8.2.4. Financial Performance (Subject to Data Availability)
- 8.2.5. Product/Services Portfolio
- 8.2.6. Recent Developments
- 8.2.7. Market Strategies
- 8.2.8. SWOT Analysis
8.3. Shell plc
8.4. ExxonMobil Corporation
8.5. Chevron Corporation
8.6. TotalEnergies SE
8.7. Fuchs Petrolub SE
8.8. Idemitsu Kosan Co., Ltd.
8.9. Petroliam Nasional Berhad (PETRONAS)
8.10. Valvoline Inc.
8.11. The Lubrizol Corporation
8.12. AMSOIL Inc.
8.13. BP p.l.c.
8.14. Phillips 66
8.15. ENEOS Corporation