Bio-lubricants Market Global Outlook 2021-2026: Axel Christiernsson, Bechem, BP PLC, Cargill, Chevron Corporation, Cortec Corporation

The market for Bio-Lubricants is anticipated to register a CAGR of over 3% during the forecast period. The Global Bio-lubricants Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope, and application of this report.

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Key Market Players:

Axel Christiernsson, Bechem, BP PLC, Cargill, Chevron Corporation, Cortec Corporation, ELM, ExxonMobil Corporation, Fuchs, Kluber Lubrication, Lubitec, Novvi LLC, Panolin Ag, Royal Dutch Shell PLC, Total, Repsol and Other

Key Market Trends

Increasing Demand from Power Generation

- Power generation is one of the most important sectors for the global economy, without which, almost all manufacturing operations may come to an end. Advancements in manufacturing technologies are resulting in the commencement of various new plants, which in turn, are increasing the demand for electricity in various end-user industries.
- Turbines play a key role in the energy sector for generating electricity. Irrespective of the source of electricity, i.e., wind, solar, hydro, thermal, etc., turbines are widely used for power generation. In general, other than turbines, the major components in the power generation sector, include pumps, bearings, fans, compressors, gears, and hydraulic systems. Wind turbines are subjected to many factors, such as humidity, high pressure, high loads, vibrations, and temperature. Gear and turbine oils are widely used in this sector for lubrication purposes.
- Many companies are already well-aware that reducing the total cost of ownership (TCO) over the lifetime of machinery is the key to extracting the best possible value from the investment. However, the impact of lubrication on TCO is too often underestimated. In general, the cost of lubricants accounts for less than 5% of a power generation companys total operational expenditure. According to an international industry study, commissioned by Shell Lubricants, the savings opportunity is recognized, but undervalued. About 58% of the companies recognized that lubricant selection can help reduce costs by 5% or more, but fewer than one in 10 (8%) realized that the impact of lubrication could be up to six times greater.
- All the aforementioned factors, is expected to drive the global market during the forecast period.

Asia-Pacific to Dominate the Market

- In Asia-Pacific, China is third largest bio-lubricant consumer in the APAC region with the economic growth of around 7%.
- China and United States, the worlds two largest power markets, accounts for almost 70% of the global demand growth. In China, electricity demand increased by almost 8.5%, led by industrial sector, including iron, steel and other metals, cement and construction as well as higher demand for cooling.
- Indias power demand increased by around 5.4%. This increase was driven by higher demand in buildings, especially coming from air conditioning, as well as higher access to electricity.
- Moreover, the Japanese government has also been planning to build 45 new coal-fired power plants in the country, by using high-energy low-emission (HELE) technology, which uses high-quality black coal. With the increasing number of power plants in the country, accelerated demand for bio-lubricants, for use in power plants, is expected during the forecast period.
- This increase in power industry is expected to drive the bio-lubricants market in the Asia-Pacific region.

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What are the market factors that are explained in the report?

Executive Summary: It includes key trends of the global Bio-lubricants market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global Bio-lubricants market based on production and revenue.

Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Bio-lubricants market.

Market Segments: This part of the report discusses product type and application segments of the global Bio-lubricants market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses the research methodology and approaches Bio-lubricants used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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- The market estimate (ME) sheet in Excel format

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How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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