Lubricants are added to reduce friction between two moving objects and are majorly classified based on their raw materials - Bio-based, Mineral based, Synthetic and Semi-synthetic. Bio-based fuels are known to show an environment friendly nature owing to their bio-degradable characteristics. Mineral oil lubricants are one of dominant products and are estimated to increase at a fast pace to maintain its market share during the forecast period till 2025 owing to its lower price and easy availability in contrast to bio-based and synthetic lubricants. Bio-based lubricants are also estimated to increase their market share due to government regulations making its use mandatory in many applications. Automotive sector has high demand of synthetic lubricants in automotive crankshaft and gear oils. The ongoing demand for higher fuel economy also pushes the use of high-quality motor and gear oils. Other applications include transportation, power generation, heavy equipment, metallurgy and chemical manufacturing.