The Growing Automotive Industry and Market Player Contribution is Driving the Synthetic Ester Lubricants Market

Global synthetic ester lubricants market is anticipated to grow at a considerable CAGR of 4.1% during the forecast period (2024-2031). The market growth is attributed to the increasing demand for synthetic lubricants in various end-use industries (such as automotive, aviation, and more), and the growing demand for high-performance ester lubricants. However, the rising cost of raw materials can present a significant challenge for the growth of the synthetic ester lubricants market.  

The global synthetic ester lubricants market is segmented by type (monoester, diester, polyol ester, and aromatic carboxylic ester), by application (compressor oils, hydraulic oils, metalworking fluids, diesel and petrol engine oils, and others), and by end-use industry (construction, mining, metal production, power generation, automotive manufacturing, marine, oil and gas, textile, food processing, and others), and by geographies (North America, Europe, Asia-Pacific, and Rest of the World).

Get Free Sample link @ https://www.omrglobal.com/request-sample/synthetic-ester-lubricants-market

Market Dynamics

• The automotive manufacturing segment is anticipated to register significant growth for the forecast period, attributing to its benefits including improved wettability, lubrication, rust inhibiting, and detergency properties. Additionally, ester-based oils are natural, non-toxic, biodegradable, non-polluting, and inexpensive. Further,  ester-based metal working facilitates enhanced performance, better surface finish, and improved durability of automotive components.
• Europe is anticipated to hold the major market share in the global synthetic ester lubricants market. This is attributed to the increasing demand for synthetic lubricants in various end-use industries, particularly the automotive industry. The region is home to some of the largest automotive manufacturers, such as Volkswagen Group, BMW Group, Daimler AG, PSA Group, Renault Group, Fiat Chrysler Automobiles, Volvo Cars, Jaguar Land Rover, and others. 
• The polyol segment is estimated to grow at a considerable during the forecast period. The segmental growth is driven by the increasing product applications requiring high thermal stability, high viscosity index, and lubricity. Polyol esters find major applications as jet engine lubricants and lubricating oil.
• Additionally, the hydraulic oil segment is anticipated to be the highest growing segment attributed to the rising demand for environmentally friendly solutions. As, hydraulic oils based on synthetic ester are biodegradable and offer optimal performance, wider effective temperature range, better hydraulic efficiency, and enhanced lubricant compatibility, they are preferred over other esters.

Full report of Synthetic Ester Lubricants Market available @ https://www.omrglobal.com/industry-reports/synthetic-ester-lubricants-market

The major players in the global synthetic ester lubricants market include BP Plc, Chevron Corp., Exxon Mobil Corp., Royal Dutch Shell Plc, and Total SA, among others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.

Recent Developments

• In April 2024, Savita Oil Technologies Ltd. launched the Ester 5 brand of lubricants. The ester is being tested for two-wheeler and three-wheeler startups for use as battery coolants. The results demonstrated 28% less engine deposits and 33% lower friction compared to regular Group-III base oil lubricants. It became the first Indian lubricant company to manufacture the Ester molecule.
• In October 2023, Savita Oil Technologies Ltd. commenced its new synthetic ester plant in Mahad, Maharashtra, India. 

Reasons to Buying From us -

1. We cover more than 15 major industries, further segmented into more than 90 sectors.
2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
4. Our expert research analysts answer all your questions before and after purchasing your report.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/synthetic-ester-lubricants-market

Media Contact:

Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
Contact no: +91 780-304-0404
Company Name: Orion Market Research

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.