Food Grade Lubricants Market worth $495 million by 2027 | Key players ExxonMobil Corporation, TotalEnergies SE, FUCHS Petrolub AG, BP plc., Chevron Corporation.

According to recent market research the "Food Grade Lubricants Market by base oil [Synthetic Oil, Mineral Oil, Bio-based], Application (Food, Beverages, Pharmaceuticals &Cosmetics), and Region (North America, Europe, Asia Pacific, MEA, South America) - Global Forecasts to 2027" The market is projected to reach USD 495 million by 2027, at a CAGR of 7.0% from USD 352 million in 2022. This growth is primarily triggered by the increasing demand for processed food products such as meat, bakery, dairy and sugar. Asia Pacific is the largest food grade lubricants market due to the demand from the food & beverages industry and stringent government regulations regarding food safety. The need to reduce the contamination of food is the primary reason for the adoption of food grade lubricants.

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Synthetic food grade lubricants are formulated from artificially synthesized chemicals such as poly-alpha-olefins, polyalkylene glycols, silicones, and esters. It is projected to account for the largest share of the global food grade lubricants market, in terms of both value and volume, during the forecast period. Synthetic lubricants are relatively costlier than mineral oil-based lubricants. The demand for synthetic lubricants is increasing in the food and beverages industry, owing to their high performance.

The food application includes all food processing industries such as dairy, confectionery, meat, animal feed, and breakfast foods, among others. It is the largest application for food grade lubricants. Food processing is one of the largest industries in the world and is growing at a rapid pace. Major food manufacturers have increased their production output to meet the high demand for processed food products. This requires the proper functioning of machinery in food processing industries. All these factors drive the demand for food grade lubricants in food application.

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Asia Pacific is the largest market for food grade lubricants, followed by Europe and North America. It is expected to grow faster than other regions primarily due to the rapid growth of end-use industries. The region is witnessing high growth in the food & beverages industry, along with associated auxiliary industries. The rising income of middle-class families has increased the purchasing power of consumers; the rising working women population has boosted the consumption of convenience foods; this is propelling the region's food sector, and in turn, driving the food grade lubricants market growth.

The key market players profiled in the report include ExxonMobil Corporation (US), TotalEnergies SE (France), FUCHS Petrolub AG (Germany), BP plc. (UK), Petro-Canada Lubricants Inc. (Canada), Chevron Corporation (US), The DOW Chemical Company (US), Kluber Lubrication Munchen SE & Co. KG (Germany), SKF (Sweden) and Illinois Tools Works Inc. (US) among others.

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The FUCHS Petrolub AG is the largest independent manufacturer of lubricants and related specialties. FUCHS portfolio consists of a wide range of products, including automotive lubricants (engine motor oils and transmission, for motor cars, motorcycles, agricultural, plant and stationary engines), metalworking lubricants, industrial lubricants, and so on. The company operated their business through three reportable segments, namely, industrial lubricants & specialties, automotive lubricants, and others. The food grade lubricants are offered through industrial lubricants & specialties segment with the brand name Cassida.
• In October 2020, FUCHS Lubritech GmbH strengthens the specialty business of lubricants by signing an agreement of acquiring Welponer SRL, Italy and integrate it into its subsidiary names FUCHS Lubrificanti S.P.A.
• In March 2019, FUCHS expanded the production capacity of its lubricant plant in Kaiserslautern, Germany. This expansion is a part of the FUCHS global expansion strategy and will serve as an important production and warehousing location for companies growing market share in the lubricants industry.

The Petro-Canada Lubricants Inc. (PCLI) is the subsidiary of HollyFrontier Corporation. Before HollyFrontier Corporation, PCLI was a subsidiary of Suncor Energy Inc. (Canada). The company is an integrated oil & gas company. The company offers a wide range of specialty lubricants for automotive and industrial application. Petro-Canada's premium lubricants keep businesses moving in more than 80 countries worldwide and has its presence in North America, Asia, Europe, and Latin America.
• In September 2018, Petro-Canada Lubricants expanded its food grade and non-food grade lubricants CALFLO, PETRO-THERM and PURITY FG HTF heat transfer fluids which are now featured in aspenONE Engineering Software, specifically Aspen HYSYS and Aspen Plus modelling software, providing engineers with a broader range of solutions when designing a heat transfer system.

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