Rice Bran Wax Lubricant Market Key Players Analysis - oster Keunen, King Rice Oil Group, Strahl&Pitsch, Modi Naturals, Frank B. Ross.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Rice Bran Wax Lubricant Market - (By Grade (Food Grade, Industrial Grade, Pharmaceutical Grade), End-use (Automotive, Food and Beverage, Cosmetics and Personal Care, Pharmaceuticals, Chemicals, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Rice Bran Wax Lubricant Market is valued at US$ 394.6 million in 2023, and it is expected to reach US$ 585.3 million by 2031, with a CAGR of 5.2% during the forecast period of 2024-2031.

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Wax lubricants made from rice bran are perfect as a basis stock for many kinds of industrial lubricants. When compared to similar Montan wax alternatives, they are renowned for having a lower product carbon footprint. Lubricants made from rice bran wax can help to reduce production costs and increase productivity. The growth of the rice bran wax lubricant market is being driven by an increase in demand for environmentally friendly lubricants. The use of environmentally friendly lubricants is increasing as worries about the environmental effects of conventional mineral oil-based products grow. The growing use of natural tablet lubricants is also increasing the market value of rice bran wax lubricants. When it comes to tablet and capsule formulation, rice bran wax is a sustainable, gluten-free, and vegan option. Since plastics are replacing conventional materials in high-temperature polymer packaging applications, high-temperature additives are in high demand.

Conventional wax additives are known to contribute to pollution even if they increase scratch and abrasion resistance. Thus, many end-use industries are in great demand for sustainable and natural alternatives to traditional waxes. Rice bran waxes are a non-PFAS and microplastic-containing wax substitute for montan and synthetic waxes. These waxes have a renewable carbon index of over 98% and provide novel bio-based lubricating solutions. They give outstanding formulation stability and strong scratch resistance. Therefore, the dynamics of the rice bran wax lubricant market are being augmented by the rise in demand for sustainable lubricants.

List of Prominent Players in the Rice Bran Wax Lubricant Market:
• JRS Pharma
• Poth Hille
• Ricela Health Foods Ltd.
• HUZHOU SHENGTAO BIOTECH LLC
• The British Wax Refining Company Ltd.
• Koster Keunen
• King Rice Oil Group
• Strahl&Pitsch
• Modi Naturals
• Frank B. Ross
• Starlight Products
• Deqing Weikang

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Market Dynamics:
Drivers-
The market for rice bran wax lubricant is anticipated to rise further due to its advantages in sustainability and adaptability to a wide range of applications. Rice bran wax is probably going to be quite important in the lubricant market in the future, especially as more people become aware of the advantages of natural lubricants. The market for natural lubricants like rice bran wax is being driven by consumers' and businesses' growing desire for eco-friendly alternatives. Research and development initiatives are looking at novel uses for rice bran wax, like lubricants for cars and personal hygiene items.

Challenges:
The market demand for rice bran wax lubricant is somewhat constrained by the main obstacles, which include limited supply, consistency and standardization, competition from synthetic lubricants, and regulatory compliance. Since rice bran wax is a byproduct of the rice oil business, finding it in commercial amounts might be difficult. The production process and restricted availability of rice bran wax may result in an initial cost that is higher than that of typical petroleum-based lubricants. Further, it can be difficult to guarantee constant performance and quality in rice bran wax lubricants since these factors can change based on the source and processing techniques, which limit the sales of rice bran wax lubricants. Rice bran wax lubricants could not have uniform requirements or testing procedures, which would make it challenging to compare goods and guarantee quality. Compared to typical lubricants, rice bran wax lubricants have a smaller market penetration because consumers must be informed about and persuaded of their advantages. The established market for synthetic lubricants, with their proven performance and extensive distribution networks, poses a significant challenge to rice bran wax.

Regional Trends:
The Asia Pacific rice bran wax lubricant market is expected to note a major market revenue share and is projected to grow at a high CAGR in the near future. Asia Pacific is becoming very large market for rice bran wax lubricants due to its vast population and expanding industrial sector. The need for lubricants is rising across a number of industries, including the automotive, manufacturing, and construction sectors, as a result of Asia Pacific's fast industrialization, especially in nations like China, India, and South Korea. The rise of rice barn production is enhancing the region's market statistics. India produces 80 million tons of paddy annually. Up to 0.8 million tons of rice bran oil and 5 million tons of rice bran are anticipated from this. Based on projections from the Indian government, 5.5 million tons of de-oiled rice bran were produced in India in 2022-2023.

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Segmentation of Rice Bran Wax Lubricant Market-
By Grade-
• Food Grade
• Industrial Grade
• Pharmaceutical Grade
End-use-
• Automotive
• Food and Beverage
• Cosmetics and Personal Care
• Pharmaceuticals
• Chemicals
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.