Press release
Bio-lubricants Market Analysis, Size, Share, Growth by Top Companies - Total S.A, Exxon Mobil, Royal Dutch Shell PLC, Chevron, Kluber Lubrication München Se & Co, Albemarle Corporation, Emery Oleochemicals, Panolin AG, Binol Bio Lubricants, Castrol
Bio-Lubricants Market is expected to reach USD 3.50 billion by 2022 with 7.2% CAGR from 2018 to 2022
The Global Bio Lubricant Market has been divided into the following categories for the purposes of the report:
By Types: Animal Oil, Edible and Non-Edible Oil
By Application: Automotive, Engine Oils, Greases, Process Oils, Chainsaw Oils, Metal Working and Fluids
By Region: North America, Europe, Asia Pacific and ROW
By End Users: Automotive Industry, Construction, Commercial Transport and Others.
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Global Bio-Lubricants Market - Regional Analysis
Geographically, North America dominates the market due to stringent regulation of government for the use of conventional lubricants especially in marine, agriculture and others. These regulations of government will push the use of Bio-Lubricants in agriculture, marine and other industries. Emerging economies like India, China and South Korea contribute the most in the Bio-Lubricant Market due to growing automotive and construction sector. Developed regions contribute maximum as compared to regions which are still developing. Therefore, APAC regions share less in the growth of the Global Bio-Lubricant Market. At the same time, manufacturers are looking for cost effective, low production method for Bio-Lubricants. Therefore, investors have a good opportunity for a profitable business in the forecasted period.
Market Synopsis of Global Bio-lubricants Market
The Global Bio-Lubricants Market is expected to reach USD 3.50 billion by 2022 with 7.2% CAGR from 2016 to 2022.
Bio-Lubricants also known as bio-lubes are produce from rapeseed oil, sunflower oil, animal fats and others. They are highly demanded as they are biodegradable, non-toxic, renewable and environmental friendly products. Conventional petroleum based lubricant is hazardous to the ecological system, so more emphasis is on the development of bio-lubricants products. The Global Bio-Lubricants Market is segmented into type, application and end user. Bio-Lubricants have various application like greases, automotive engine oil, chainsaw oil and others. Increase in sales of vehicles has boosted the Global Bio-Lubricants Market due to more use of Bio-Lubricants than conventional petroleum based lubricants. . Due to the development in automobile sector, demand of engine oil, grease, chainsaw oil is expected to grow in the forecasted period. Plant based oils are substitute of minerals oils further use of vegetable oils in foods & beverage and healthcare will also boost the market in coming years. Increase in R&D and stringent regulation of government regarding environment safety will further increase this market. However, increase in price of petroleum the market growth of Bio-Lubricant will be hampered further in future.
Geographically, North America dominates the market due to stringent regulation of government for the use of conventional lubricants especially in marine, agriculture and others. These regulations of government will push the use of Bio-Lubricants in agriculture, marine and other industries. Emerging economies like India, China, and South Korea contribute the most in the Bio-Lubricant Market due to growing automotive and construction sector. Developed regions contribute maximum as compared to regions which are still developing. Therefore, APAC regions share less in the growth of the Global Bio-Lubricant Market. In this segment. At the same time manufactures are looking for cost effective, low production method for bio-lubricants. Therefore, investors have a good opportunity for a profitable business in the forecasted period.
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