openPR Logo
Press release

Bio-based Lubricants Market - Opportunity Analysis and Industry Forecast by 2022

10-15-2018 05:48 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Allied Market Research

Bio-based Lubricants Market - Opportunity Analysis

Bio-based Lubricants Market Report, published by Allied Market Research, was valued at$1,924 million in 2015 and forecasts that the global market is expected to garner $2,799 million by 2022, registering a CAGR of 5.3% during the period 2016-2022. Asia-Pacific held one-third share in the global bio-based lubricants market in 2015, and is expected to maintain its lead during the forecast period.

Bio-based lubricants are used in industrial machinery and other automotive applications where environmental loss is more to prevent wear and tear and to increase the life of the machinery by reducing friction between metal parts. They offer several advantages over synthetic & mineral oil based lubricants due to their increased performance and environment friendly nature. Bio-based lubricants are renewable & biodegradable in nature and do not persist in the environment for a longer period of time.

Download Now! Sample PDF Brochure @ https://www.alliedmarketresearch.com/request-sample/730

The market for bio-based lubricants has grown considerably in the recent past, due to increase in adoption of bio-based materials owing to the stringent government regulation, especially in North America and Europe. For instance, Spill Prevention, Control and Counter (SPCC) measure rule was published by U.S. Environment Protection Agency in 1973 under Clean Water Act for the prevention of water bodies from leakage of oils in the environment. This rule describes the prevention of, preparedness for, and response to the oil spills at non-transportation-related facilities.

In 2015, the hydraulic fluid segment occupied around one-fourth of the overall bio-based lubricants market in terms of volume, and is expected to maintain its lead throughout the analysis period. This is due to their extensive use in low and high pressure hydraulic systems in the construction, automotive, and agricultural sector. Four types of hydraulic fluids are mainly used in the market, namely, HETG (Hydraulic Environmental Triglyceride), HEES (Hydraulic Environmental Ester Synthetic), HEPG (Hydraulic Environmental Poly Glycol), and HEPR (Hydraulic Environmental Polyalphaolefin and related).

Key Findings of the Bio-based Lubricants Market
• Food Grade Lubricants is anticipated to the fastest growing segment during the analysis period.
• Asia-Pacific is estimated to continue to lead the global bio-based lubricants market, growing at a CAGR of 6.5%, in terms of revenue.
• In 2015, the transportation end-user segment occupied more than half of the total market and is expected to retain its share during the forecast period.
• In 2015, vegetable oil raw material segment occupied 86.4% of the total bio-based lubricants market in terms of revenue.
• China is the fastest growing segment in the Asia-Pacific market, expected to grow at a CAGR of 7.7% in terms of revenue, throughout 20162022.

For instance, regulatory bodies in Malaysia have taken steps to provide incentives to encourage the companies for using vegetable oils as base oil in lubricants manufacturing. Under the Entry Point Project 6 or the EPP6, Malaysian government will provide incentive grants to the companies that invest in palm oil ventures. Rise in urbanization is the one of the foremost reason for the growth of bio-based lubricants market in Asia-Pacific.

Major companies profiled in the report 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.).

Check offers and discount on this report @ https://www.alliedmarketresearch.com/get-discount/730

About Us:
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1?855?550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Bio-based Lubricants Market - Opportunity Analysis and Industry Forecast by 2022 here

News-ID: 1304712 • Views:

More Releases from Allied Market Research

Global Urinary Drainage Bags Market: Trends, Growth, and Insights to 2031
Global Urinary Drainage Bags Market: Trends, Growth, and Insights to 2031
The global urinary drainage bags market is experiencing robust growth, with its market size valued at $1.4billion in 2021 and projected to reach $2billion by 2031. This expansion represents a compound annual growth rate (CAGR) of 3.8% from 2021 to 2031, highlighting the increasing demand for these essential medical devices. Get a Sample Copy of this Report: https://www.alliedmarketresearch.com/request-sample/A17529 What Are Urinary Drainage Bags? Urinary drainage bags are specialized medical devices designed to collect
Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR
Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR
The global cream powder industry was estimated at $4.8 billion in 2021 and is expected to hit $8.9 billion by 2031, registering a CAGR of 6.4% from 2022 to 2031. The cream powder market is experiencing growth due to various factors, including the increasing popularity of bakeries and HoReCa (hotels, restaurants, and cafes) and rising consumer demand for natural products. The dairy-based segment is a significant contributor to the market's growth
Micro Drone Market Valued at $6.71 Billion in 2020, Expected to Reach $28.91 Billion by 2030; Growing at a CAGR of 17.2%
Micro Drone Market Valued at $6.71 Billion in 2020, Expected to Reach $28.91 Bil …
The global micro drone industry generated $6.71 billion in 2020, and is expected to reach $28.91 billion in 2030, witnessing a CAGR of 17.2% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario. Increased operational efficiency and rise in demand for improved surveillance drive the growth of the global micro drone market. However, strict
Microwavable Foods Market to reach $230.93 billion by 2031, growing at a CAGR of 5.6%
Microwavable Foods Market to reach $230.93 billion by 2031, growing at a CAGR of …
The global microwaveable foods industry was accounted for $120.45 billion in 2020, and is expected to reach $230.93 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031. Rise in popularity of fast-food restaurants and large population base coupled with increase in number of quick-service restaurants drive the global microwaveable foods market. However, lack of awareness about microwavable foods hinders the market growth. On the contrary, rise in

All 5 Releases


More Releases for Lubricants

India Industrial Lubricants Market Drivers: Apar Industries, Valvoline Cummins, …
The India industrial lubricants market is poised for significant expansion, with its valuation anticipated to climb from an estimated USD 59.4 billion in 2025 to a remarkable USD 86.8 billion by 2035, exhibiting a Compound Annual Growth Rate (CAGR) of 3.8%. This impressive trajectory is fundamentally driven by increased domestic manufacturing, substantial infrastructure investment, and rising awareness of predictive maintenance practices across key industries such as steel, cement, textiles, and
Biodegradable Lubricants Will Support Demand for Agricultural Lubricants
The material known as a lubricant is used to lessen friction or abrasion between two surfaces that are in touch with one another. It is accessible in solid, liquid, and gaseous states and aids in the removal of heat and the transition of power. Semisolid versions of them can also be discovered. Grease is one of the most typical types of lubricants in a semisolid form. To boost productivity, lubricants are
Commercial Vehicle Lubricant Market Top Key Players – Repsol, Castrol, ELF Ind …
Lubricants are essential for modern life. Thanks to the sophisticated oil and grease integration, car engines and transmissions run smoothly. Lubricants are great fluids. Irrespective of weather conditions, engine oil must operate reliably in the temperature range of 40°C to 250°C or higher (piston ring upper temperature). It must also withstand pressures of 105 to 109 Pascals and contaminants such as metal particles and soot. Lubricants perform the main functions of
Commercial Vehicle Lubricant Market Top Key Players – Repsol, Castrol, ELF Ind …
Lubricants are essential in modern life. Car machines and gearboxes run smoothly through the integration of advanced oils and fats. Lubricants are remarkable liquids. Regardless of the weather conditions, the engine oil must operate reliably at temperatures of 40 ° C to above 250 ° C - the temperature near the upper piston ring. It also has to deal with presses between 105 and 109 Pascacakes as well as contaminants,
Commercial Vehicle Lubricant Market Top Key Players – Repsol, Castrol, ELF Ind …
Lubricating oils are essential to modern life. Automotive engines and gearboxes run smoothly due to the sophisticated oil and grease integration. Lubricating oil is an amazing fluid. Regardless of weather conditions, engine oil should operate stably at temperatures in the range of 250 ° C and above (the temperature near the upper piston ring) at 40 ° C. It also deals with pressures between 105 and 109 Pascals, as well
Commercial Vehicle Lubricants Market Top Key Players – Repsol, Castrol, ELF In …
Lubricants are essential in modern life. Car engines and gearboxes run smoothly through integration of sophisticated oils and greases. Lubricants are remarkable fluids. Irrespective of weather conditions, the engine oil has to operate reliably over temperatures ranging from -40 °C to above 250 °C – the temperature near the top piston ring. It also has to cope with pressures between 105 and 109 pascals, as well as contaminants including metal