Synthetic Lubricants & Functional Fluids Market in the US by Product, Material and Market, 5th Edition

Synthetics Make Gains Despite Flatness in Overall Lubricants

Synthetics offer many benefits over conventional petroleum fluids, such as longer fluid lifetimes, better wear protection, and improved energy efficiency. Since lengthening drain intervals will cause the overall market for lubricants and functional fluids to be flat, demand for synthetics will grow at the expense of conventional petroleum products. Synthetics will penetrate new markets due to rising technical requirements and growing consumer awareness. As a result, lubricant and functional fluid producers will increasingly focus research and development efforts on high value synthetics.

Key Findings in the Synthetic Lubricants & Functional Fluids Study:

Engine Oils Evolve to Meet New Requirements

Engine oils will remain the largest product type in the synthetic lubricants and functional fluids market. Regulatory requirements, including Corporate Average Fuel Economy and EPA emissions standards, will drive rapid changes in the synthetic engine oil market. These changes will steer the market towards low viscosity synthetic engine oils. Smaller, more efficient, and turbocharged light vehicle engines will place greater demands on lubrication. Heavy duty truck operators will also begin to switch to lower viscosity engine oils, creating opportunities for synthetics. Improved fuel economy is a primary benefit of these products.

Demand for Group III Base Oils Continues to Climb

Compared to other synthetic base stocks, Group III base oils are significantly lower in price and still offer improved performance over conventional petroleum. As a result of their lower price and suitability for a wide range of applications, growth of Group III base oils will outpace that of competitive materials such as polyalphaolefins (PAOs). The highest gains will originate in the synthetic automotive engine oils market, where Group III base oils dominate.

Varying Results for Glycols

Engine coolant demand will continue to decline, although at a slower rate than what was observed between 2005 and 2015. Since engine coolants are the largest outlet for ethylene glycols used in synthetic lubricants and functional fluids, demand for ethylene glycols will stagnate. The outlook for propylene glycols is somewhat brighter because of their attractiveness as specialty nontoxic coolants. Polyalkylene glycols, on the other hand, will experience robust growth, as these materials are used in high value synthetic lubricants.

Study Coverage

This study presents historical demand data (2005, 2010, and 2015) and forecasts (2020 and 2025) by product (engine oil, engine coolant/antifreeze, transmission fluid, hydraulic fluid, heat transfer fluid, electrical oil, metalworking fluid), material (glycols, polyalphaolefin, Group III base oils, esters, aromatics-based chemicals, silicone fluids), and market (light vehicles, medium and heavy duty vehicles, off-highway equipment, industrial equipment, process industries, metal processing, aerospace, energy and power generation). The study also evaluates company market share and competitive analysis on industry competitors including AMSOIL, BP, Chevron, Dow Chemical, Eastman Chemical, Exxon Mobil, Old World Industries, Prestone Products, Shell, and Valvoline.

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Table of Contents

INTRODUCTION

EXECUTIVE SUMMARY

MARKET ENVIRONMENT

Factors Affecting the US Synthetic Lubricants & Functional Fluids Market

Macroeconomic Outlook

Manufacturing Outlook

Motor Vehicle Outlook

Competitive Products

Environmental & Regulatory Issues

Used Oil Disposal

Re-Refining

Motor Vehicle Lubricant Specifications

Pricing Trends

Foreign Trade & International Activity

PRODUCTS

Product Demand Overview

Engine Oils

Fully Synthetic Engine Oils

Gasoline Engine Oils

Heavy-Duty Diesel Engine Oils

Other Engine Oils

Semi-Synthetic Engine Oils

Engine Coolant (Antifreeze)

Transmission & Hydraulic Fluids

Producers

Hydraulic Fluids

Transmission Fluids

Heat Transfer Fluids

Producers

Low Temperature

High Temperature

Metalworking Fluids

Producers

Formulations

Metal Removal Fluids

Metal Forming Fluids

Other Metalworking Fluids

Electrical Oils

Other Products

Gear Oils

All Other Products

Compressor Oil

Turbine Oil

All Other

MATERIALS

Materials Demand Overview

Glycols

Polyalphaolefins (PAO)

Esters

Group III Base Oil

Aromatics

Silicone Fluids

Other Chemicals, Additives, & Blending Components

MARKETS

Markets Demand Overview

Automotive

Producers

Light Vehicles

Medium- & Heavy-Duty Vehicles

Off-Highway Equipment

Construction Equipment

Mining Equipment

Agricultural Equipment

Other Off-Highway Equipment

Metal Processing

Energy & Power Generation

Industrial Equipment

Process Industries

Aerospace

Other Markets

INDUSTRY STRUCTURE

Industry Structure Overview

Market Share

Competitive Strategies

Industry Restructuring

Manufacturing

Marketing

Synthetic Engine Oil

Brand Name Recognition

Sports Sponsorship

Engine Coolant

Other Synthetic Fluids

Distribution

List of Industry Participants

List of Tables

EXECUTIVE SUMMARY

Table 1-1 | Synthetic Lubricant & Functional Fluid Demand (million dollars)

MARKET ENVIRONMENT

Table 2-1 | Macroeconomic Indicators (billion 2009 dollars)

Table 2-2 | Manufacturers' Shipments (billion 2009 dollars)

Table 2-3 | Motor Vehicle Indicators

Table 2-4 | Selected Synthetic Lubricant & Functional Fluid Pricing (dollars per gallon)

PRODUCTS

Table 3-1 | Synthetic Lubricant & Functional Fluid Demand by Produc (million dollars)

Table 3-2 | Fully Synthetic Engine Oil Demand by Type (million gallons)

Table 3-3 | Fully Synthetic Gasoline Engine Oil Demand (million gallons)

Table 3-4 | Fully Synthetic Heavy Duty Diesel Engine Oil Demand (million gallons)

Table 3-5 | Other Fully Synthetic Engine Oil Demand (million gallons)

Table 3-6 | Semi-Synthetic Engine Oil Demand (million gallons)

Table 3-7 | Synthetic Engine Coolant Demand (million gallons)

Table 3-8 | Synthetic Transmission & Hydraulic Fluid Demand (million gallons)

Table 3-9 | Synthetic Heat Transfer Fluid Demand (million gallons)

Table 3-10 | Synthetic Metalworking Fluid Demand (million gallons)

Table 3-11 | Synthetic Electrical Oil Demand (million gallons & million dollars)

Table 3-12 | Other Synthetic Fluid Demand (million gallons)

MATERIALS

Table 4-1 | Synthetic Lubricant & Functional Fluid Demand by Materia (million dollars)

Table 4-2 | Advantages & Disadvantages of Glycol Basestocks

Table 4-3 | Glycol Demand in Lubricants & Functional Fluids (million gallons)

Table 4-4 | Advantages & Disadvantages of Polyalphaolefin Basestocks

Table 4-5 | Polyalphaolefin Demand in Lubricants & Functional Fluids (million gallons)

Table 4-6 | Advantages & Disadvantages of Ester Basestocks

Table 4-7 | Esters Demand in Lubricants & Functional Fluids (million gallons)

Table 4-8 | Advantages & Disadvantages of Group III Base Oils

Table 4-9 | Group III Base Oil Demand in Lubricants & Functional Fluid (million gallons)

Table 4-10 | Comparison of Aromatic Basestocks

Table 4-11 | Aromatics-Based Chemical Demand in Lubricants & Functional Fluids (million gallons)

Table 4-12 | Advantages & Disadvantages of Silicone Fluid Basestocks

Table 4-13 | Silicone Fluid Demand in Lubricants & Functional Fluid (million gallons & million dollars)

Table 4-14 | Demand for Other Chemicals, Additives, & Blending Component in Synthetic Lubricants & Functional Fluids (million gallons)

MARKETS

Table 5-1 | Synthetic Lubricant & Functional Fluid Demand by Market (million dollars)

Table 5-2 | Automotive Market for Synthetic Lubricants & Functional Fluid (million dollars)

Table 5-3 | Light Vehicle Market for Synthetic Lubricants & Functional Fluid (million dollars)

Table 5-4 | Medium- & Heavy-Duty Vehicle Market for Synthetic Lubricant & Functional Fluids (million dollars)

Table 5-5 | Off-Highway Equipment Market for Synthetic Lubricants & Functional Fluids (million dollars)

Table 5-6 | Metal Processing Market for Synthetic Lubricants & Functional Fluids (million dollars)

Table 5-7 | Energy & Power Generation Market for Synthetic Lubricants & Functional Fluids (million dollars)

Table 5-8 | Industrial Equipment Market for Synthetic Lubricants & Functional Fluids (million dollars)

Table 5-9 | Process Industries Market for Synthetic Lubricants & Functional Fluids (million dollars)

Table 5-10 | Aerospace Market for Synthetic Lubricants & Functional Fluid (million dollars)

Table 5-11 | Other Markets for Synthetic Lubricants & Functional Fluid (million dollars)

INDUSTRY STRUCTURE

Table 6-1 | US Synthetic Lubricant & Functional Fluid Sales by Company, 2015 (million dollars)

Table 6-2 | Selected Acquisitions & Divestitures

List of Charts

PRODUCTS

Chart 3-1 | Synthetic Lubricant & Functional Fluid Demand by Product, 2015

Chart 3-2 | Synthetic Lubricant & Functional Fluid Demand, 2005-202 (billion dollars)

Chart 3-3 | Fully Synthetic Engine Oils by Type, 2005-2025 (million gallons)

Chart 3-4 | Gasoline Engine Oil Demand by Formulation, 2005-2025

Chart 3-5 | Engine Oil Demand by Formulation, 2005-2025 (million gallons)

Chart 3-6 | Engine Coolant Demand by Market, 2005-2025 (million gallons)

Chart 3-7 | Transmission & Hydraulic Fluid Demand by Formulations, 2005-2025 (million gallons)

Chart 3-8 | Synthetic Transmission & Hydraulic Fluids by Product, 2005-202 (million gallons)

Chart 3-9 | Synthetic Heat Transfer Fluid Demand by Product, 2005-202 (million gallons)

Chart 3-10 | Heat Transfer Fluid Demand by Formulation, 2005-2025 (million gallons)

Chart 3-11 | Metalworking Fluid Demand by Formulation, 2005-2025

Chart 3-12 | Synthetic Metalworking Fluid Demand by Product, 2015

Chart 3-13 | Synthetics Penetration of Electrical Oil Market, 2005-202 (million gallons)

Chart 3-14 | Demand for Other Synthetic Lubricants & Functional Fluids, 2005-2025 (million gallons)

MATERIALS

Chart 4-1 | Synthetic Lubricant & Functional Fluid Demand by Material, 2005-2025 (billion dollars)

Chart 4-2 | Glycol Demand in Lubricants & Functional Fluids by Material, 2015

Chart 4-3 | Glycol Demand in Lubricants & Functional Fluids by Product, 2005-2025 (million gallons)

Chart 4-4 | Polyalphaolefin Demand in Lubricants & Functional Fluids by Product, 2015

Chart 4-5 | Demand for PAOs & Group III Base Oil in Lubricants & Functional Fluids, 2005-2025 (million gallons)

Chart 4-6 | Esters Demand in Lubricants & Functional Fluids by Material, 2015

Chart 4-7 | Esters Demand in Lubricants & Functional Fluids by Product, 2005-2025 (million gallons)

Chart 4-8 | Group III Base Oil Demand in Lubricants & Functional Fluids by Product, 2005-2025 (million gallons)

Chart 4-9 | Aromatics-Based Chemical Demand in Lubricants & Functional Fluid by Product, 2005-2025 (million gallons)

Chart 4-10 | Aromatics-Based Chemical Demand in Lubricants & Functional Fluid by Material, 2015

Chart 4-11 | Silicone Fluid Demand in Lubricants & Functional Fluids, 2005-2025 (million gallons)

Chart 4-12 | Demand for Other Chemicals, Additives, & Blending Component in Synthetic Lubricants & Functional Fluids by Product, 2005-2025

MARKETS

Chart 5-1 | Synthetic Lubricant & Functional Fluid Demand by Market, 2015

Chart 5-2 | Synthetic Lubricant & Functional Fluid Demand, 2005-202 (billion dollars)

Chart 5-3 | Automotive Market Segments for Synthetic Lubricants & Functional Fluids, 2005-2025 (billion dollars)

Chart 5-4 | Automotive Market for Lubricants & Functional Fluids by Formulation, 2005-2025

Chart 5-5 | Light Vehicle Market for Synthetic Lubricants & Functional Fluid by Product, 2005-2025 (million dollars)

Chart 5-6 | Light Vehicle Market for Lubricants & Functional Fluids, 2005-2025

Chart 5-7 | Medium- & Heavy-Duty Vehicle Market for Synthetic Lubricant & Functional Fluids by Product, 2015

Chart 5-8 | Medium- & Heavy-Duty Vehicle Market for Lubricants & Functional Fluids by Formulation, 2005-2025

Chart 5-9 | Off-Highway Equipment Market for Synthetic Lubricants & Functional Fluids by Product, 2015

Chart 5-10 | Metal Processing Market for Synthetic Lubricants & Functional Fluid by Product, 2015

Chart 5-11 | Metal Processing Market for Lubricants & Functional Fluid by Formulation, 2005-2025

Chart 5-12 | Energy & Power Generation Market for Lubricants & Functional Fluids by Formulation, 2005-2025

Chart 5-13 | Energy & Power Generation Market for Synthetic Lubricant & Functional Fluids by Product, 2005-2025 (million dollars)

Chart 5-14 | Industrial Equipment Market for Lubricants & Functional Fluid by Formulation, 2005-2025

Chart 5-15 | Industrial Equipment Market for Synthetic Lubricants & Functional Fluids by Product, 2015

Chart 5-16 | Process Industries Market for Synthetic Lubricants & Functional Fluids by Product, 2015

Chart 5-17 | Process Industries Market for Lubricants & Functional Fluid by Formulation, 2005-2025

Chart 5-18 | Other Markets for Synthetic Lubricants & Functional Fluids by Product, 2015

INDUSTRY STRUCTURE

Chart 6-1 | Synthetic Lubricants & Functional Fluids Market Share, 2015

Synthetic Lubricants & Functional Fluids Market in the US by Product, Material and Market, 5th Edition

Key Findings in the Synthetic Lubricants & Functional Fluids Study:

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