Product Code: ETC4488505 | Publication Date: Jul 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
The India synthetic lubricants market import shipment demonstrated robust growth with a notable CAGR from 2020 to 2024. Although the growth rate between 2023 and 2024 slightly moderated, indicating a stabilization phase, the market overall exhibited strong momentum and expansion during the period.
Synthetic lubricants are gaining popularity in India due to their superior performance and environmental benefits. The market is driven by automotive, industrial, and manufacturing sectors looking for high-performance lubricants that offer extended equipment life and reduced maintenance. The adoption of synthetic lubricants aligns with sustainability and energy-efficiency goals.
The India Synthetic Lubricants market is driven by the need for high-performance lubricants in various industries. Synthetic lubricants offer improved thermal stability, wear resistance, and extended equipment life. They find applications in the automotive, aerospace, and industrial sectors where extreme conditions and efficiency are critical. As industries seek to enhance their operational efficiency and reduce maintenance costs, the demand for synthetic lubricants continues to grow.
The synthetic lubricants market in India contends with challenges related to competition from conventional lubricants and the relatively higher cost of synthetic alternatives. Market players need to educate consumers about the benefits of synthetic lubricants, such as improved performance and longevity, while addressing price sensitivity. Additionally, ensuring the availability of high-quality base oils for synthetic lubricant production can be a challenge.
The COVID-19 pandemic had a notable impact on the India synthetic lubricants market. Synthetic lubricants are used in various applications, including automotive and industrial machinery. The lockdowns and restrictions imposed to curb the spread of the virus led to reduced manufacturing activities and a decline in the automotive industry, which in turn affected the demand for synthetic lubricants. Supply chain disruptions and workforce challenges further added to the market`s woes. Manufacturers in the synthetic lubricants market had to adapt to the changing landscape by reevaluating production capacities and supply chain strategies. As lockdowns eased and manufacturing activities picked up, the market began to recover, although uncertainties in the automotive sector remained.
Leading players in the India synthetic lubricants market include Gulf Oil Lubricants India Ltd, Castrol India, and ExxonMobil. These companies offer a wide range of synthetic lubricants for automotive and industrial applications.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Synthetic Lubricants Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Synthetic Lubricants Market Revenues & Volume, 2021 & 2031F |
3.3 India Synthetic Lubricants Market - Industry Life Cycle |
3.4 India Synthetic Lubricants Market - Porter's Five Forces |
3.5 India Synthetic Lubricants Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 India Synthetic Lubricants Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
3.7 India Synthetic Lubricants Market Revenues & Volume Share, By End-Use Industry, 2021 & 2031F |
4 India Synthetic Lubricants Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for high-performance lubricants in industrial applications |
4.2.2 Growing automotive industry in India leading to higher demand for synthetic lubricants |
4.2.3 Government initiatives promoting the use of synthetic lubricants for environmental sustainability |
4.3 Market Restraints |
4.3.1 High cost of synthetic lubricants compared to conventional lubricants |
4.3.2 Lack of awareness among end-users about the benefits of synthetic lubricants |
4.3.3 Availability of counterfeit synthetic lubricants in the market affecting the credibility of genuine products |
5 India Synthetic Lubricants Market Trends |
6 India Synthetic Lubricants Market, By Types |
6.1 India Synthetic Lubricants Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 India Synthetic Lubricants Market Revenues & Volume, By Type, 2021-2031F |
6.1.3 India Synthetic Lubricants Market Revenues & Volume, By PAO, 2021-2031F |
6.1.4 India Synthetic Lubricants Market Revenues & Volume, By PAG, 2021-2031F |
6.1.5 India Synthetic Lubricants Market Revenues & Volume, By Esters, 2021-2031F |
6.1.6 India Synthetic Lubricants Market Revenues & Volume, By Group III, 2021-2031F |
6.2 India Synthetic Lubricants Market, By Product Type |
6.2.1 Overview and Analysis |
6.2.2 India Synthetic Lubricants Market Revenues & Volume, By Engine oil, 2021-2031F |
6.2.3 India Synthetic Lubricants Market Revenues & Volume, By Hydraulic fluids, 2021-2031F |
6.2.4 India Synthetic Lubricants Market Revenues & Volume, By Metalworking fluids, 2021-2031F |
6.2.5 India Synthetic Lubricants Market Revenues & Volume, By Compressor oil, 2021-2031F |
6.2.6 India Synthetic Lubricants Market Revenues & Volume, By Gear oil, 2021-2031F |
6.2.7 India Synthetic Lubricants Market Revenues & Volume, By Refrigeration oil, 2021-2031F |
6.2.8 India Synthetic Lubricants Market Revenues & Volume, By Turbine oil, 2021-2031F |
6.2.9 India Synthetic Lubricants Market Revenues & Volume, By Turbine oil, 2021-2031F |
6.3 India Synthetic Lubricants Market, By End-Use Industry |
6.3.1 Overview and Analysis |
6.3.2 India Synthetic Lubricants Market Revenues & Volume, By Construction, 2021-2031F |
6.3.3 India Synthetic Lubricants Market Revenues & Volume, By Mining, 2021-2031F |
6.3.4 India Synthetic Lubricants Market Revenues & Volume, By Metal Production, 2021-2031F |
6.3.5 India Synthetic Lubricants Market Revenues & Volume, By Cement Production, 2021-2031F |
6.3.6 India Synthetic Lubricants Market Revenues & Volume, By Power Generation, 2021-2031F |
6.3.7 India Synthetic Lubricants Market Revenues & Volume, By Automotive Manufacturing, 2021-2031F |
7 India Synthetic Lubricants Market Import-Export Trade Statistics |
7.1 India Synthetic Lubricants Market Export to Major Countries |
7.2 India Synthetic Lubricants Market Imports from Major Countries |
8 India Synthetic Lubricants Market Key Performance Indicators |
8.1 Adoption rate of synthetic lubricants in key industries |
8.2 Investment in research and development for innovative synthetic lubricant formulations |
8.3 Environmental certifications obtained by synthetic lubricant manufacturers |
8.4 Number of collaborations between synthetic lubricant companies and automotive manufacturers |
8.5 Percentage increase in synthetic lubricant usage in the aftermarket segment |
9 India Synthetic Lubricants Market - Opportunity Assessment |
9.1 India Synthetic Lubricants Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 India Synthetic Lubricants Market Opportunity Assessment, By Product Type, 2021 & 2031F |
9.3 India Synthetic Lubricants Market Opportunity Assessment, By End-Use Industry, 2021 & 2031F |
10 India Synthetic Lubricants Market - Competitive Landscape |
10.1 India Synthetic Lubricants Market Revenue Share, By Companies, 2024 |
10.2 India Synthetic Lubricants Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |