openPR Logo
Press release

Bio Lubricants Market Demand, Growth Factors, Supply, Latest Rising Trend

Bio Lubricants Market Demand, Growth Factors, Supply, Latest

Biolubricants Market: Introduction

Lubricants are substances used for the lubrication of mechanical components. Conventional lubricants are generally produced using petroleum based feedstock. However, due to growing concern over the use of petroleum based lubricants which have hazardous impact on ecological system and in order to reduce dependency on petroleum feedstock, strong emphasis has been laid on development of sustainable alternatives to petroleum based lubricants. Biolubricants also known as bio-lubes are the biodegradable and nontoxic lubricants. Biolubricants are generally produced by using raw material like rapeseed oil, sunflower oil, palm oil, coconut oil and animal fats. Biolubricants offer several advantages over conventionally used petroleum based product offerings in that these are non-toxicity, renewable, carbon neutral and environment friendly.Owing to high flash point and high stability, biolubricants are relatively safer to use over conventional lubricants. Biolubricants are used for a variety of applications across diverse set of industries including automotive, marine and construction, among others.

Global Biolubricants Market: Market Dynamics

The Main drivers for global Biolubricants market are rising environmental concern and stringent regulation over the use of conventional lubricants, especially in the developed countries. Eco-friendly nature and rapid degradability of Biolubricants render them significantly better alternatives to the conventional petroleum based lubricants. Consumption of lubricants in regions such as North America and Europe is governed by stringent regulations especially for applications such as those in marine, forestry, agriculture, among others. Such regulations that render use of biolubricants mandatory, are expected to help propel the consumption of biolubricants in these regions during forecast period.

For detailed insights on enhancing your product footprint, request for a Sample here @ https://www.persistencemarketresearch.com/samples/12157

bio-lubricants-market
However, limited range of well-developed applications is likely to restrict the growth of Biolubricants market during the forecast period. Also, another noteworthy factor is that global biolubricant consumption is heavily tilted towards the developed regions of the globe and that some of the other regions such as Asia Pacific which are characterized by strong presence of end use industries, account for considerably low share in global biolubricants consumption. As such, increasing consumption in these regions is likely to propel the growth of global biolubricants market during forecast period. However, on the flip-side, relatively higher prices of these biolubricants are likely to impede the growth of global biolubricants market during forecast period. With growing demand for Biolubricants,many companies are focusing on the development of alternative, cost effective and efficient methods for Biolubricants production.

Global Biolubricants Market: Segmentation

On the basis of source, the global Biolubricants market is segmented into:

Edible and Non-edible oils
Animal Fats
Others
Based on applications, the global Biolubricants market is segmented as:

Automotive
Greases
Industrial Lubricant
Metal Working
Oilfield
Others
On the basis of end use industry, the global Biolubricants market is segmented as:

Automotive Industry
Marine Industry
Construction
Oil & Gas
Others
Global Biolubricants Market: Region-wise Outlook

Global Biolubricants market can be divided into seven major regional segments namely North America, Eastern Europe, Asia Pacific, Japan, Middle East & Africa, Latin America, and Western Europe. Global Biolubricants consumption largely dominated by North America and Europe. In North America, US is the major consumer of the biolubricants, especially for hydraulic fluids application. Biolubricant consumption in the country is expected to register steady growth over the forecast period. Western Europe is the second largest consumer market of Biolubricants. European Commission's European Ecolabels lays down standard specifications for Biolubricants and the stringent regulations emphasizing use of biolubricants in Europe is expected to drive the steady growth in demand for Biolubricants over the forecast period. In Western Europe, Germany followed by NORDIC countries, are the major consumers of Biolubricants. Besides, Biolubricants market in Asia Pacific is expected to witness steady growth however, consumption of conventional lubricants is expected to continue its dominance owing primarily to absence of stringent regulation and price difference between petroleum based and bio-based lubricants.

To receive extensive list of important regions, ask for TOC here @ https://www.persistencemarketresearch.com/toc/12157

Global Biolubricants Market: Market Players

Some of the players operating in global biolubricants market include

Total S.A
Royal Dutch Shell PLC
Exxon Mobil Corp.
Chevron Corporation
BP PLC
Albemarle Corporation
Klüber Lubrication Munich Se & Co. Kg
Polnox Corporation
Renewable Lubricants
Altranex Corporation
Emery Oleochemicals
Fuchs Petrolub SE
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and Industry.

Pre-Book Right Now for Exclusive Analyst Support @ https://www.persistencemarketresearch.com/checkout/12157
https://www.globenewswire.com/news-release/2022/03/10/2400460/0/en/Bio-Lubricants-Market-sales-are-projected-to-increase-at-a-healthy-CAGR-of-5-2-by-2031.html

Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com

About us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers' experience by acting as the "missing" link between "customer relationships" and "business outcomes'. The best possible returns are assured therein.

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 Lubricants Market Demand, Growth Factors, Supply, Latest Rising Trend here

News-ID: 2640040 • Views: 338

More Releases from Persistence Market Research

Medical Tapes And Bandages Market To Witness A Customized Procurement Strategy A …
According to the latest report by Persistence Market Research (PMR), the global medical tapes and bandages market is expected to witness sluggish growth. The market is estimated to increase to 3.6% CAGR during the forecast period 2017-2022. It is also expected to reach US$ 7,403.0 million revenue by the end of 2022. In order to fasten the process of healing the wound, and provide protection from bacteria and environmental factors such
Cardiac Arrhythmia Monitoring Devices Market To Expand Based On Agile Supply Cha …
Persistence Market Research has recently published a new report titled "Cardiac Arrhythmia Monitoring Devices Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)" which is an extensive market study covering various aspects of cardiac arrhythmia monitoring devices that include analysis on various product types, end users and applications. The segmental analysis is done on a global scale as well as across the key regions of North America, Latin America, Europe, Asia
Remote Care Systems Through Digitization To Drive The Arthroscopic Shaver Market …
The Arthroscopic Shaver Market is destined to grow on an impertinent note, i.e. reaching US$ 600 Mn at a CAGR of 5.5% between 2017-2026. Personalization has taken over almost every sphere of the industry verticals, and healthcare is no exception. People have started looking at their healthcare picture such that they could actively take part in improving their physical and mental health on the daily basis. This personalization will be
Immutable, Open Ledgers To Be A Welcome Change To The Oral Macromolecular Formul …
The global oral macromolecular formulation market was valued at around US$ 15.7 Mn in 2020, and is expected to exhibit a steady CAGR of around 5.1% over the forecast period (2022-2031). There are various problems associated with injections, such as pain and needle stick injuries. These issues can be overcome by various ways, and oral route of drug administration is one of them. For instance, according to CDC, in the U.S., the

All 5 Releases


More Releases for Biolubricant

Emerging Trends: Biolubricant Market By Key Players: BP, Cargill, Exxon Mobil, S …
Qyresearchreports include new market research report Biolubricant to its huge collection of research reports. Lubricants are liquid agents that smoothen the movement of various moving parts of a vehicle. They are made up of base oils and performance-enhancing additives that help reduce friction in automotive components such as gear boxes and engines. Environmental and toxicity issues of conventional lubricants coupled with rising cost due to shortage and poor biodegradability have led to
Global Biolubricant Market 2018 : Industry Driving Force and Growth Analysis : B …
Qyresearchreports include new market research report "Global Biolubricant Market Professional Survey Report 2018" to its huge collection of research reports. This report studies the global Biolubricant market status and forecast, categorizes the global Biolubricant market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China, India, Southeast Asia and other regions (Central & South America, and Middle East
Increasing Demand for Greener Alternatives to Drive the Global Biolubricant Mark …
According to “Biolubricants Market – Global Scenario, Trends, Industry Analysis, Size, Share & Forecast 2010 – 2018”, a new study, the global market for biolubricants,which was worth US$1,713.2 million in 2011, is predicted to reach a value of US$2,377.5 million in 2017, registering growth at a CAGR of 4.9%during that period. In terms of revenue, North America is predicted to remain at the helm of the overall market till 2018.
Global Biolubricant Market to Witness Huge Growth by 2025 Players Involved: BP C …
Qyresearchreports include new market research report “Global Biolubricant Market Research Report 2018” to its huge collection of research reports. Lubricants are liquid agents that smoothen the movement of various moving parts of a vehicle. They are made up of base oils and performance-enhancing additives that help reduce friction in automotive components such as gear boxes and engines. Environmental and toxicity issues of conventional lubricants coupled with rising cost due to shortage and
Biolubricant Market 2018 Global Key Players – BP, Cargill, Exxon Mobil, Shell …
Biolubricant Market 2018 This report studies the global Biolubricant market status and forecast, categorizes the global Biolubricant market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China and other regions (India, Southeast Asia, Central & South America, and Middle East & Africa). Lubricants are liquid agents that smoothen the movement of various moving parts of a vehicle. They
Biolubricants Market is Poised to Exhibit A Moderate 6.7%CAGR through 2010 - 201 …
According to “Biolubricants Market - Global Scenario, Trends, Industry Analysis, Size, Share & Forecast 2010 - 2018”, a new study, the global market for biolubricants,which was worth US$1,713.2 million in 2011, is predicted to reach a value of US$2,377.5 million in 2017, registering growth at a CAGR of 4.9%during that period. In terms of revenue, North America is predicted to remain at the helm of the overall market till 2018.