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Synthetic Lubricants Market Analysis, Size, Share, Growth,
Industry Trends and Forecast to 2024 - Hexa Research
The synthetic lubricants market is anticipated to register nearly 2 percent CAGR during 2016 to
2024 (forecast period). This signifies considerable market expansion in the same period.
Growing end-users, such as industrial and automotives across developing nations, like China
and India, should account for the same. These products are highly popular due to their
favorable properties as against conventional lubricants.
Some of these properties include wear & tear protection and outstanding thermal stability.
These coupled with heavy ‘load holding’ & low ‘friction’ features are also likely to drive market
growth in the near future. Innovative technologies, such as ester-based fire-resistant oils are
incorporated across different industries & sectors. Moreover, several major OEMs have
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