Top Companies in Synthetic Lubricants Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research
Synthetic Lubricants Market is projected to reach a value of USD 21.88 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 3.5% over the forecast period.
Vantage Market Research has recently published a new report on the "Synthetic Lubricants Market” Global Industry Assessment & Forecast to identify key trends and challenges. The report offers insights into the competitive landscape, prospects, and key investment considerations for businesses operating in Synthetic Lubricants Market. Rising demand from the automotive sector and vehicle parc, the implementation of environmental standards in the automotive sector to reduce emissions, and increasing industrialization in emerging economies are supposed to drive the Synthetic Lubricants Market over the forecasted period.
The Global Synthetic Lubricants Market was valued at USD 17.2 Billion in 2022 and is projected to reach a value of USD 21.88 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 3.5% over the forecast period.
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The Global metal coatings market is dominated by well-known players like British Petroleum (BP) PLC, Chevron Corporation, EXXON MOBIL CORPORATION, Idemitsu Kosan Co. Ltd., Indian Oil Corporation Ltd., Lukoil, Petroliam Nasional Berhad (PETRONAS), Royal Dutch Shell PLC, Sinopec Corp., TOTAL S.E., these market participants are also pursuing strategies like investments, partnerships, acquisitions, and mergers to increase their market dominance. Furthermore, businesses are investing in the creation of better services. They are also concentrating on keeping their prices reasonable.
Let’s Take a Look at the Top Market Players that are Captivating the Synthetic Lubricants Market
- British Petroleum (BP) PLC
BP PLC (BP) is an integrated oil and gas company. Its upstream operations include exploration, development, and production of oil and natural gas, field development and production; and midstream operations include transportation, marketing, and trading of natural gas, including liquefied natural gas (LNG), and natural gas liquids (NGLs). BP is headquartered in London, Greater London, and the UK.
- Chevron Corporation
Chevron Corporation operates as a renewable fuel company. The Company produces and transports crude oil and natural gas, as well as refines, markets, and distributes fuels. Chevron serves clients worldwide.
- EXXON MOBIL CORPORATION
Exxon Mobil Corporation operates petroleum and petrochemical businesses. The Company provides exploration and production of oil and gas, electric power generation, coal, and minerals operations. Exxon Mobil also manufactures and markets fuels, lubricants, and chemicals. Exxon Mobil serves customers worldwide.
- IDEMITSU KOSAN CO. LTD
Idemitsu Kosan Co. Ltd. explores, imports, refines and distributes petroleum and its related products. The Company also manufactures and sells petrochemical products.
- INDIAN OIL CORPORATION LTD
Indian Oil Corporation Limited explores for and refines crude oil, in addition to manufacturing petroleum & petroleum products. The Company's products include lubricating oils, liquid petroleum gas, aviation turbine fuels, greases, wax, bitumen, and asphalt. Indian Oil Corporation has retail outlets throughout India. The greatest majority shareholding in the Company is held by Indian Government.
LUKOIL PJSC explores for, produces, refines, transports, and markets oil and gas mainly from Western Siberia. The Company also manufactures petrochemicals, fuels, and other petroleum products. LUKOIL operates refineries and gasoline filling stations in Russia and the United States. The Company transports oil through pipelines and petroleum products with its fleet of ships.
- Petroliam Nasional Berhad (PETRONAS)
Petroliam Nasional Berhad (Petronas) operates as an oil and gas company. The Company focuses on the exploration, development, and production of crude oil and natural gas. Petroliam Nasional serves clients worldwide.
- Royal Dutch Shell PLC
Royal Dutch Shell PLC explores and refines petroleum products. The Company produces and imports fuels, chemicals, and lubricants, as well as operates service station networks. Shell serves its clients across the globe.
- Sinopec Corp
Sinopec International Petroleum Exploration & Production Corporation operates as a petroleum-integrated company. The Company provides oil and gas exploration, production, transportation, warehousing, and investment services. Sinopec International Petroleum Exploration & Production conducts businesses across worldwide.
- TOTAL S.E.
Total Energies SE operates as an energy company. The Company produces, transports, and supplies crude oil, natural gas, and low-carbon electricity, as well as refines petrochemical products. TotalEnergies owns and manages gasoline filling stations worldwide.
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