North America Synthetic Lubricants Market (2024-2030) | Size, Companies, Outlook, Trends, Value, Share, Revenue, Analysis, Industry, Forecast & Growth

North America Synthetic Lubricants Market Highlights

Report Name	North America Synthetic Lubricants Market
Forecast period	2024-2030
CAGR	5%
Growing Sector	Automotive

Topics Covered in the North America Synthetic Lubricants Market Report

The North America Synthetic Lubricants Market report thoroughly covers the market by Countries, Type, End Use Industry and Product Type. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

North America Synthetic Lubricants Market Synopsis

The North America synthetic lubricants market is expected to grow slowly in the coming years, driven by the increasing demand for high-performance lubricants in various industries. Synthetic lubricants have superior properties compared to conventional oils, resulting in extended equipment life and improved performance. This growth can also be attributed to their use in the automotive, aerospace, and industrial machinery sectors.

According to 6Wresearch, the North America Synthetic Lubricants Market size is expected to grow at a significant CAGR of 5% during 2024-2030. One of the major driving factors for this growth is the increasing demand from various industries such as automotive, manufacturing, and construction. The superior properties of synthetic lubricants over conventional mineral oils, such as higher resistance to oxidation and better viscosity-temperature performance, have contributed to their widespread adoption. Another important factor driving the market growth is the growing emphasis on energy efficiency and sustainability. Synthetic lubricants are known to reduce friction and wear, resulting in improved energy efficiency and extended equipment life. This has led to an increased use of synthetic lubricants in industrial equipment and automotive engines, further boosting the market growth.

However, there are also some challenges that the North America synthetic lubricants market faces. One of the major challenges is the fluctuating prices of raw materials used to manufacture synthetic lubricants. This can have a significant impact on the overall cost of production and may hinder market growth. Moreover, there is still a lack of awareness among consumers about the benefits of using synthetic lubricants. In addition, stringent environmental regulations and increasing concerns about the disposal of used lubricants also pose a challenge for the market.

North America Synthetic Lubricants Industry: Leading Players

One of the key players in the North America synthetic lubricants market is Royal Dutch Shell, a multinational company that offers a wide range of automotive and industrial lubricants. Another major player is ExxonMobil Corporation, which produces high-performance synthetic lubricants under its Mobil brand. Other significant players include Chevron Corporation, BP Plc, and Total S.A., all offering various types of synthetic lubricants for different industries.

North America Synthetic Lubricants Market: Government Regulations

The North America synthetic lubricants industry is subject to various government initiatives and regulations aimed at promoting sustainability and reducing environmental impact. The Environmental Protection Agency (EPA) of the United States has introduced regulations for the management and disposal of used oil, which includes synthetic lubricants. This encourages proper recycling and reuse of synthetic lubricants to reduce waste. In addition, many states in North America have implemented their own regulations, such as California's Low Carbon Fuel Standard (LCFS), which promotes the use of low-carbon fuels including bio-based synthetic lubricants.

Future Insights of the Market

The North America synthetic lubricants market is expected to continue its growth trajectory in the coming years due to factors such as increasing demand for high-performance lubricants, rising awareness about environmental sustainability, and advancements in synthetic lubricant technology. Additionally, the growing automotive industry in the region and increasing industrialization are also expected to drive the market.

Market Segmentation by Type

According to Ravi Bhandari, Research Head, 6Wresearch, PAO is expected to dominate the market due to their superior properties such as high viscosity index, thermal stability, and resistance to oxidation.

Market Segmentation by Product Type

Engine oil is the largest product type segment in the North America Synthetic Lubricants Market. The growing demand for fuel-efficient vehicles and stringent environmental regulations are driving the growth of this segment.

Market Segmentation by End-Use Industry

The power generation industry is driving the growth of the synthetic lubricants market in North America. The increasing use of renewable energy sources and the rising demand for high-performance lubricants for power generation equipment are fueling this growth.

Key Attractiveness of the Report

• 10 Years of Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• North America Synthetic Lubricants Market Outlook
• Market Size of North America Synthetic Lubricants Market, 2023
• Forecast of North America Synthetic Lubricants Market, 2030
• Historical Data and Forecast of North America Synthetic Lubricants Revenues & Volume for the Period 2020 - 2030
• North America Synthetic Lubricants Market Trend Evolution
• North America Synthetic Lubricants Market Drivers and Challenges
• North America Synthetic Lubricants Price Trends
• North America Synthetic Lubricants Porter's Five Forces
• North America Synthetic Lubricants Industry Life Cycle
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Type for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By PAO for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By PAG for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Esters for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Group III for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Type for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By PAO for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By PAG for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Esters for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Group III for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Type for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By PAO for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By PAG for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Esters for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Group III for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Product Type for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Engine oil for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Hydraulic fluids for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Metalworking fluids for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Compressor oil for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Gear oil for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Refrigeration oil for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Transmission fluids for the Period 2020 - 2030
• Historical Data and Forecast of North America Engine oil Synthetic Lubricants Market Revenues & Volume By Turbine oil for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Product Type for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Engine oil for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Hydraulic fluids for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Metalworking fluids for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Compressor oil for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Gear oil for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Refrigeration oil for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Transmission fluids for the Period 2020 - 2030
• Historical Data and Forecast of United States Engine oil Synthetic Lubricants Market Revenues & Volume By Turbine oil for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Product Type for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Engine oil for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Hydraulic fluids for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Metalworking fluids for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Compressor oil for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Gear oil for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Refrigeration oil for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Transmission fluids for the Period 2020 - 2030
• Historical Data and Forecast of Canada Engine oil Synthetic Lubricants Market Revenues & Volume By Turbine oil for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By End-Use Industry for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Construction for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Mining for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Metal Production for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Cement Production for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Power Generation for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Automotive Manufacturing for the Period 2020 - 2030
• Historical Data and Forecast of North America Synthetic Lubricants Market Revenues & Volume By Chemical for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By End-Use Industry for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Construction for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Mining for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Metal Production for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Cement Production for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Power Generation for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Automotive Manufacturing for the Period 2020 - 2030
• Historical Data and Forecast of United States Synthetic Lubricants Market Revenues & Volume By Chemical for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By End-Use Industry for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Construction for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Mining for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Metal Production for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Cement Production for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Power Generation for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Automotive Manufacturing for the Period 2020 - 2030
• Historical Data and Forecast of Canada Synthetic Lubricants Market Revenues & Volume By Chemical for the Period 2020 - 2030
• North America Synthetic Lubricants Market - Key Performance Indicators
• North America Synthetic Lubricants Market - Import Export Trade Statistics
• North America Synthetic Lubricants Market - Opportunity Assessment By Countries
• North America Synthetic Lubricants Market - Opportunity Assessment By Type
• North America Synthetic Lubricants Market - Opportunity Assessment By Product Type
• North America Synthetic Lubricants Market - Opportunity Assessment By End-Use Industry
• North America Synthetic Lubricants Market - Top Companies Market Share
• North America Synthetic Lubricants Market - Top Companies Profiles
• North America Synthetic Lubricants Market - Comparison of Players in Technical and Operating Parameters
• North America Synthetic Lubricants Market - Strategic Recommendations

Markets Covered

The report provides a detailed analysis of the following market segments:

By Countries

• United States
• Canada

By Type

• PAO
• PAG
• Esters
• Group III

By Product Type

• Engine Oil
• Hydraulic Fluids
• Metalworking Fluids
• Compressor Oil
• Gear Oil
• Refrigeration Oil
• Transmission Fluids
• Turbine Oil

By End-Use Industry

• Construction
• Mining
• Metal Production
• Cement Production
• Power Generation
• Automotive Manufacturing
• Chemical