Global Pyridine Type 2020: Global Opportunities, Regional Overview, Top Leaders, Size, Revenue and Forecast up to 2020

Exxon Mobil Corporation, The DOW Chemical Company, Fuchs Petrolub SE, Total Lubricants, Demitsu Kosan Co. Ltd, BP PLC, Chevron Corporation, Lubrizol Corporation, Pennzoil, Petroliam Nasional Berhad among others are some of the prominent players at the forefront of competition in the Global Synthetic Lubricant Market and are profiled in MRFR Analysis.

Synthetic Lubricant Market – Ova

Pyridine is a clear liquid with an unpleasant odor. It is simple heterocyclic aromatic compound with structure related to benzene and possess a CH group in the benzene ring replaced by a nitrogen atom. Moreover, the pyridine ring is generally found in many different compounds such as azines, niacin, vitamins, and pyridoxine. Initially, pyridine was derived from coal tar and obtained as a byproduct of coal gasification, but the process was very expensive and inefficient. Currently, pyridine and its derivatives are manufactured synthetically. It is miscible with water and other organic solvents which find extensive use in numerous end use industries such as agrochemical, food & beverage, pharmaceuticals, chemicals, and others.

Some of the prominent factors that positively influence the growth of the pyridine market are growing disposable income, rapid urbanization, and improved living standards. Additionally, increasing use of pharmaceuticals has led to an increase in the demand for pyridine globally. Moreover, continuous growth of electronics industry along with wide utilization of pyridine in development of mobile and other electronic product is expected to fuel the growth of the market over the forecast period. Growing demand for pesticide and insecticide combined with the rising need of high quality crop production is estimated to propel the market growth. However, increasing concern regarding the harmful effect of pyridine is expected to hinder the market growth.

Regional Analysis

Asia Pacific is expected to be the largest market for pyridine followed by Europe and North America owing to rising demand from numerous end use industries such as building & construction, agriculture, and chemical among others. Various countries of Asia Pacific such as South Korea, Japan, China, India, Vietnam, Thailand, and Malaysia are the fastest growing market for pyridine, and is predicted to grow with the same pace in the near future. In Asia Pacific, some of the driving factors for market growth are increasing economic growth rate, competitive manufacturing costs, and ease in availability of raw material. Europe pyridine market is estimated to witness a significant growth on account of the continuous growth of food & beverage industry. North America is estimated to witness a substantial growth over the forecast period on account of increasing demand for adhesives in the construction sector. The Middle East & African countries is estimated to witness strong market growth due to rising construction activities. In Latin America market growth is majorly due to expansion of chemical and pharmaceutical sector.

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Competitive Analysis

The major players operating in the pyridine market are Jubilant Life Sciences Ltd. (India), KOEI CHEMICAL CO., LTD. (Japan), Lasons (India), Vertellus Holdings LLC (U.S.), The Dow Chemical Company (U.S.), Merck KGaA (Germany), LOBA Feinchemie AG (Austria), RASCHIG GmbH. (Germany), Bayer AG. (Germany), Resonance Specialties Limited (India) among others

Market Segmentation:-

The global pyridine market is segmented on the basis of types, end use industry, and region. Based on types, the market is categorized into alpha picoline, beta picoline, gamma picoline, 2-Methyl-5-Ethylpyridine (MEP), and others. On the basis of end use industry, the market is classified into pharmaceutical, agrochemical, food & beverage, chemicals, and others. Other end use industries comprises of electronics & semiconductor, rubber, paints and coatings, dyes, and building & construction. Among these, agrochemical segment accounted for the largest market share of global pyridine market in 2016 and is predicted to expand with a healthy CAGR over the forecast period. Pharmaceutical segment holds the second largest segment and is predicted to grow with the moderate CAGR during the assessment period. New product launches in agrochemicals and pharmaceutical segments as well as strong utilization of pyridine derivatives are among the key factors predicted to give new momentum to the growth of the market. The chemical segment provides maximum market potential on account of raise in demand for pyridine and its derivatives for numerous chemical synthesis reactions and as a catalyst.

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Synthetic Lubricant are predominantly utilized in numerous end use industries such as construction, power & energy, mining, oil & gas, food processing, automobile, and others. Synthetic Lubricant market is expected to witness healthy growth due to increasing construction activities and oil & gas activity across the globe. Among end user segment, automobile is predicted to register healthy growth in the near future due to increasing automotive sales along with increasing consumption of synthetic lubricants. Moreover, increasing construction activities in developed and developing countries is estimated to drive the market growth.

Geographically, Asia Pacific emerged as the largest market for synthetic lubricant in 2016 and is predicted to retain its dominance over the forecast years due to growing demand from automotive, construction, and oil & gas sector specifically in China, India, Japan, Vietnam, Thailand, Taiwan, and South Korea. In addition, economic growth in this region along with rapid industrialization has resulted in the increased production and sales of automobile which in turn is estimated to drive the demand for synthetic lubricant in the upcoming years. Furthermore, huge investment by major operating players in their Research & Development activities and shifting of synthetic lubricant manufacturing facilities as well as significantly increasing end use industries in this region is estimated to propel the synthetic lubricant regional market growth. North American market is estimated to witness steady growth due to rising demand from power & energy and oil & gas sector. In North America, U.S. and Canada are among the major contributor in the regional market growth on account of strong growth of food processing and oil & gas sector. Europe is estimated to witness significant growth owing to growing passenger car and heavy vehicle production and sales in various countries such as Germany, Spain, Italy, and UK. The Middle Eastern & African market is expected to register above healthy growth on account of increasing commercial and residential construction activities specifically in Qatar, Turkey, the United Arab Emirates, Oman, and Saudi Arabia. Latin American countries such as Brazil, Argentina, and Mexico is estimated to register moderate growth due to rising per capita disposable income along with strong consumer base for automotive industry.

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Industry/ Innovation/ Related News:

March 2017- Petronas Lubricants announced that the company has launched motorcycle lubricant named as Petronas Sprinta with Ultraflex. With this product launch the company will be able to meet the increasing demand for synthetic lubricant.

June 2017- KLONDIKE Lubricants Corporation launched Synthetic Nano Grease in Canada. This product launch will strengthen company’s position among the lubricant manufacturers.

June 2017- ExxonMobil, one of the leading manufacturer of lubricants announced that the company completed its expansion project in Jurong to raise the manufacturing of grease and synthetic lubricants. With this expansion, the company strengthen its manufacturing capabilities and will be able to meet the increasing demand for grease and synthetic lubricants products in Asia Pacific region.

September 2017- GP Petroleums, a subsidiary of Petrochem Group launched Repsol’s synthetic motorcycle oils in India. With this product launch the company is planning to expand its footprint in the Asia Pacific region.

May 2016- PetroChoice, one of the leading provider of lubrication solution acquired Universal Lubricants’ new oil business. With this acquisition the company added 15 distribution locations, this helps the company to expand their geographic reach and solidifies its position as the largest bulk lubricant distributor in the United States.

May 2016- JX Nippon Oil & Energy announced two distribution partnership to expand its reach in the different location of U.S. The company main focus is to meet the increasing demand for synthetic lubricant.

Competitive Landscape:

The Synthetic Lubricant report has analysed the level of competition among the key operating players as well as sector growth and market scenario. The global synthetic lubricant market comprises of various manufacturers operating in the market which comprised of large scale and medium size manufacturers. Some of the prominent market players operating in the global synthetic lubricant industry has shifted their focus towards growth association specifically by Asia Pacific as medium scale and small scale manufacturers are from this region specifically from China, South Korea, India, Indonesia, Thailand, Taiwan, Malaysia, and Japan. Moreover, the major operating players are focusing on extending their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Some of the companies are expanding their manufacturing capacity of synthetic lubricant to meet the growing demand for synthetic lubricant. Furthermore, some of the manufacturers has launched a series of product to strengthen their position in the market.

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