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Publication: IIP Proceedings Year: 2022, Month: November Page No: 102-109, ISSN/ISBN: 978-93-95632-95-9, DOI/Link: https://www.rsquarel.org/assets/docupload/rsl2023C793DEDE08A253D.pdf
A STUDY ON THE GROWTH IN SYNTHETIC LUBRICANTS MARKET IN INDIA
Area/Stream: Management, Authors: Rachit Parashar, Dr. Pooja Chaturvedi Keywords: Synthetic Lubricants, India and Demand. Book Name /series: Futuristic Trends in Management, Volume 2, Book 7, Part 1, Chapter 10Publication: IIP Proceedings Year: 2022, Month: November Page No: 102-109, ISSN/ISBN: 978-93-95632-95-9, DOI/Link: https://www.rsquarel.org/assets/docupload/rsl2023C793DEDE08A253D.pdf
Abstract:
In engines and machinery, friction is controlled or reduced by lubricants. There are several types of Synthetic lubricants, including esters, Poly Alpha Olefin (PAO) and others. Synthetic lubricants are derived from Synthetic base oils, which can replace and differentiate mineral oil from crude oil. Lubricants derived from oily liquids are not directly derived from petroleum, but show similar characteristics to petroleum-based lubricants. By absorbing the heat generated by moving components of the vehicle and transferring it to the sump or cooler, these lubricants help control the temperature of the vehicle. Collectively, these factors lead to an enhanced overall vehicle life cycle. The aim of this study is to determine the market demand of Synthetic lubricants and to look at the promotion strategies of Synthetic lubricants in order to determine how the market will grow for Synthetic lubricants. The study has been conducted on the basis of secondary data which has been gathered from various books, journals, magazines, newspapers and different reports; out of which, the report on which the study is majorly focused on is: “Synthetic Lubricants Market– Forecast (2020-2025)”, by Industry ARC; which analyzes the Synthetic Lubricants Market according to its type, product type and geographical segments. The automotive industry has seen substantially increased production and sales of vehicles in recent years, and that has been a key market driver for Synthetic lubricants. The OICA estimated that the global vehicle production reached 97 million units in 2017. Among other regions, including APAC and North America, there is a great deal of progress being made in the automotive industry.
Cite this: Rachit Parashar, Dr. Pooja Chaturvedi,"A STUDY ON THE GROWTH IN SYNTHETIC LUBRICANTS MARKET IN INDIA", Futuristic Trends in Management, Volume 2, Book 7, Part 1, Chapter 10, November, 2022, 102-109, 978-93-95632-95-9, https://www.rsquarel.org/assets/docupload/rsl2023C793DEDE08A253D.pdf
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