Polyolesters for Bio-based Lubricants and Lubricant Additives Market Segmentation and Strategies of Key Players For 2023

Polyolesters are manufactured by the reaction of polyhydric alcohol with acid under elevated temperature and pressure to form an ester. Polyolester lubricants (POE) are synthetic oils. These have wide operating temperature range (-75 to 600 F). Additionally, these esters offer various other properties such as low volatility, good oxidative stability, high solvency and dispersibility, and greater seal swell characteristics than diesters. These esters are used in applications that require wide temperature stability such as automotive lubricants, aviation oil, biodegradable and fire-resistant hydraulic fluids, and refrigerant oil. Furthermore, these esters are employed in other applications such as metalworking oil, compressor oil, and transformer oil. Increasing demand for bio-based lubricants in various downstream industries in developed regions is expected to boost the demand for polyolesters bio-based lubricants during the forecast period.

Trimethylolpropane-based polyolesters dominated the market, followed by neopentyl glycol-based polyolesters in 2014. The dominance of trimethylolpropane polyolesters is anticipated to continue over the next few years, considering the commercial aspect of production and wide application range of trimethylolpropane bio-based lubricants. This is also anticipated to be the fastest-growing product segment during the forecast period, primarily due to its increasing usage as bio-based lubricants in biodegradable and fire-resistant hydraulic fluids, refrigerant oil, and metalworking applications. Additionally, significant growth potential of neopentyl glycol polyolesters as bio-based lubricants and lubricant additives in automotive and aviation oils is estimated to drive the market for polyolesters market for bio-based lubricants and lubricant additives during the next few years. Pentaerythritols is also likely to be a lucrative product segment during the forecast period; however, high cost is likely to be a major restraint for the growth of the segment.

Request Sample Copy of the Report @ https://goo.gl/6e4sNt

Aviation oil was the largest application segment of the polyolesters market for bio-based lubricants and lubricant additives, accounting for more than 30% share in terms of demand in 2014. It is also estimated to be the fastest-growing application segment of the polyolesters market for bio-based lubricants between 2015 and 2023. Rising demand for environmentally-safe lubricants and additives in downstream industries such as automotive, metalworking, and refrigeration is projected to propel the demand for bio-based lubricants during the forecast period. The refrigerant oil segment is also anticipated to be a major consumer of polyolester bio-based lubricants in the next few years. Furthermore, polyolester bio-based lubricants can be used with chlorine-free HFC systems. This makes these lubricants suitable for usage in most refrigeration systems.

In terms of volume, Europe held the largest share (more than 40%) of the global polyolesters market for bio-based lubricants in 2014. Increasing demand for eco-friendly bio-based products and technological expertise for the production of bio-based lubricants have boosted the polyolesters market in the region. North America is anticipated to be the fastest-growing regional market for polyolester bio-based lubricants during the forecast period. Rising demand for bio-based lubricants and lubricant additives in automotive lubricants, aviation oil, biodegradable and fire-resistant hydraulic fluids, and refrigerant oil in the U.S. is expected to drive the demand for polyolesters in the region in the next few years. The polyolesters market for bio-based lubricants and lubricant additives is estimated to witness similar growth trend in Asia Pacific, primarily due to the large demand in China and Japan. Latin America and Middle East & Africa are projected to exhibit moderate growth during the forecast period owing to the low demand for these high cost lubricants. Overall, the global polyolesters market for bio-based lubricants and lubricant additives is estimated to expand significantly during the forecast period.

Read Complete Report @ http://www.mrrse.com/polyolesters-biobased-lubricants-lubricant-additives-market

The global polyolesters market for bio-based lubricants & lubricant additives is primarily driven by the rising demand for bio-based lubricants in various end-user industries. However, the extensive usage of commercialized synthetic substitutes in end-user industries coupled with manufacturing complexities in bio-based lubricants is estimated to hamper market growth. Increase in production of polyolester bio-based lubricants and their growing popularity as substitutes for existing synthetic counterparts are likely to act as key opportunities for the polyolesters market for bio-based lubricants & lubricant additives in the near future. Key players in the polyolesters market for bio-based lubricants & lubricant additives are Croda International Plc, NOF CORPORATION, Oleon NV, Emery Oleochemicals, Peter Greven GmbH & Co. KG, Kuala Lumpur Kepong Berhad, A&A Fratelli Parodi Spa, Ecogreen Oleochemicals, Dowpol Corporation, Custom Synthesis, LLC, and Lumar Quimica.

About MRRSE

MRRSE stands for Market Research Reports Search Engine, the largest online catalog of latest market research reports based on industries, companies, and countries. MRRSE sources thousands of industry reports, market statistics, and company profiles from trusted entities and makes them available at a click. Besides well-known private publishers, the reports featured on MRRSE typically come from national statistics agencies, investment agencies, leading media houses, trade unions, governments, and embassies.

Corporate Office State Tower 90 State Street, Suite 700 Albany, NY 12207,United States

This release was published on openPR.