Press release
Global Demand for Bio-based Lubricants to Touch 785 Kilo Tons by 2018 Driven by Strong Regulatory Support
The global synthetic lubricants market has been segmented based on product type into commercial automotive, industrial, and consumer automotive. Industrial lubricants held the largest share in the overall market with a 38.60% share in 2011. The demand for synthetic lubricants from consumer automotive applications is anticipated to reach 11.86 mn tons by 2018, expanding at a 2.58% CAGR from 2013 to 2018.
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Bio-based lubricants, though more expensive than synthetic lubricants, have been gaining prominence in recent years owing to their increased lubricity, the monetary savings they enable, and their requirement for decreased energy input. Bio-based lubricants are preferred over conventional synthetic lubricants because of their physical properties of biodegradability, renewability, and high flash points.
By raw material, the bio-based lubricants market is bifurcated into animal oils and vegetable oils. The demand for vegetable oil-based lubricants is much greater and held a share of 87.50% in the overall bio-based lubricants market in 2011.
On the basis of application, the bio-based lubricants market is categorized into hydraulic oils, automotive oils, demolding oils, process oils, chainsaw oils, lubricating grease, turbine oils, compressor oils, metal working oils, and industrial gear oils. The automotive sector forms the largest application segment and in 2011 accounted for a share of 25.70% in the overall bio-based lubricants market. Hydraulic oils form the most rapidly developing application segment and are anticipated to expand at a 6.80% CAGR from 2013 to 2018.
Based on end use, the bio-based lubricants market is divided into commercial transportation lubricants, industrial lubricants, and consumer automotive lubricants. In 2011, automotive end uses, both consumer and commercial together held a 61.40% share in the bio-based lubricants market.
By geography, the synthetic and bio-based lubricants market is segmented into Europe, North America, Asia Pacific, and Rest of the World. Asia Pacific and Latin America are major markets for synthetic lubricants given the rapid growth of the automotive and industrial sectors in these regions. Europe is a strong contender in the bio-based lubricants market owing to the support from the government and agencies such as REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals).
Browse the full Synthetic & Bio-Based Lubricants Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth And Forecast, 2012 - 2018 report at http://www.transparencymarketresearch.com/global-synthetic-and-bio-based-lubricants-market.html
British Petroleum plc, Exxon Mobil Corp., Fuchs Lubricants (India) Pvt. Ltd., Sinopec Corp., Total S.A., Binol Biolubricants, PANOLIN International Inc., PETRONAS Lubricants International, Royal Dutch Shell Plc, Statoil Lubricants, Indian Oil Corporation Limited, Petrobras, Cargill, Inc., ConocoPhillips Co., Renewable Lubricants, Inc., PetroChina Company Limited, Chevron Corporation, Valvoline International, Inc., and Millers Oils Ltd. are the players featured in the synthetic and bio-based lubricants market report.
Global Synthetic Lubricants Market, by Product Type
Industrial
Process Oils
General Industrial Oils
Metal Working Fluids
Industrial Engine Oils
Commercial Automotive
Heavy-Duty Engine Oil
Hydraulic and Transmission Fluid
Gear Oil
Grease
Consumer Automotive
Passenger Vehicle Engine & Motor Oil
Automatic Transmission Fluid
Gear Oil
Grease
Global Bio-based Lubricants Market, by Raw Material
Vegetable Oils
Animal Oils
Global Bio-based Lubricants Market, by Application
Automotive Oils
Hydraulic Oils
Process Oils
Demolding Oils
Lubricating Grease
Chainsaw Oils
Compressor Oils
Turbine Oils
Industrial Gear Oils
Metal Working Oils
Global Bio-based Lubricants Market, by End Use
Industrial Lubricants
Commercial Transportation Lubricants
Consumer Automotive Lubricants
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