Bio-Based Lubricants Market Trends, Cost Structure Analysis, Growth Opportunities and Forecast To 2022
Environmental and Green LivingJanuary 4, 2019Written by Srushti helwande621 views
Bio-Based Lubricants Market Trends, Cost Structure Analysis, Growth Opportunities and Forecast To 2022
Bio-based lubricants market was $1,924 million in 2015 and is expected to reach $2,799 million by 2022, registering a CAGR of 5.3% during 2016 - 2022.rnThe key players of the bio-based lubricants are profiled in the report. These include Total S.A. (France), Exxon Mobil Corporation (U.S.), Royal Dutch Shell plc (Netherlands), Chevron Corporation (U.S.), BP p.l.c. (UK), Renewable Lubricants, Inc. (U.S.), Panolin AG (Switzerland), Environmental Lubricants Manufacturing, Inc. (U.S.), BioBlend Renewable Resources, LLC (U.S.), and Houghton International, Inc. (U.S.).
Other players in the value chain includes Ineos Bio, GreenHunter, Brasil Ecodiesel, Archer Daniel Midland Co., Infineum International Ltd., Tianhe Chemicals Group, Evonik Industries Ag, Croda International Plc, and The Lubrizol Corporation.
The report focuses on the global bio-based lubricants market as well as its applications such as hydraulic fluid, metal working fluids, greases, high performance oils, penetrating lubricants, food grade lubricants, and similar others. The report highlights numerous factors that influence the bio-based lubricants market, such as forecast, trends, drivers, restraints, opportunities, and the role of different key players. In addition, the report focuses on the sources of different bio-based lubricants such as vegetable oil and animal fat. It presents data in terms of both value and volume by putting efforts on.
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We refer a broad array of industry sources for our secondary research, which typically include (however, not limited to): Company SEC filings, annual reports, company websites, broker & financial reports, investor presentations for competitive scenario, and shape of the industry. In addition, we have reached various industry leaders across the globe to understand the market dynamics of bio-based lubricants.
Bio-based lubricants are used in heavy machineries where total loss of lubricants into environment is more. The major application of bio-based lubricant includes two-stroke engines, rail road flanges, chainsaw bars, and dust suppressants among others. In addition, bio-based lubricants outstrips petroleum lubricants, therefore, comparatively less amount is required as compared with traditional lubricants. Bio-based lubricants are renewable & biodegradable in nature and do not persist in the environment for a longer period of time.
The global bio-based lubricants is segmented on the basis of raw material, end-user industry, application, and geography. Based on the raw material, it is classified into lubricants produced from vegetable oils or animal sources. According to the end-user industry, the segmentation includes transportation and industrial. Bio-based lubricants have various applications such as hydraulic fluid, metal working fluids, greases, high performance oils, penetrating lubricants, food grade lubricants, and many others.
The major factors that drive the global market for bio-based lubricants are stringent government regulations on the use of petroleum based lubricants, volatile prices of crude oil, and tax incentives. However, the higher prices of bio-lubricants in comparison to other petroleum based oils will hamper the growth of the global bio-based lubricants market.
Geographically, the market is segmented across North America, Europe, Asia-Pacific, and LAMEA. Europe and Asia-Pacific are the largest bio-based lubricants consumers due to the ongoing R&D activities in this field and stringent government regulations against the use of conventional lubricants.
Germany Review:
Germany accounted for the highest market share of bio-based lubricants in the European market. Germany generated a revenue of $118 million in the year 2015, and is expected to reach $157 million by the end of 2022, growing at a CAGR of 4.0% throughout the forecast period.
About the Author
I am Srushti Helwande . My keen interest in reading and writing. I forayed into the field of writing due to my love for words and the urge to do something different. I have been a part of the content resource team here in Allied Market Research. We have a dedicated team for content development wherein, we coordinate with the Market Analysts and create a precise content. I am personally involved in writing content for user engagement. I owe a responsibility to make sure the content is rich and user-centric. Allied Market Research has given me the chance to gain knowledge about different subjects.
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