Stringent government regulations on the use of petroleum-based lubricants are driving the growth of the market.
Market Size – USD 2.74 billion in 2018, Market Growth - CAGR of 5.9%, Market Trends – Volatile prices of crude oil
The global Bio Lubricants Market is expected to reach USD 4.41 Billion by 2026, according to a new report by Reports and Data. Bio lubricant is also known as bio-lubes is produced from sunflower oil, rapeseed oil, animal fats, and others. They are increasingly demanded as they are non-toxic, environmentally friendly, biodegradable and renewable.
The rise in the sale of vehicles has driven the market for bio-lubricants. As demand for automobile sector has increased over the years, demand for grease chain saw oil and engine oil had encouraged the growth of the market. Plant-based oil is also a substitute in food and healthcare sector. Bio-Lubricants are renewable unlike fossil fuels and is environment-friendly. Not only do they reduce labor cost and energy usage, but it also increases production and machine life as well. In addition, there are strict government regulations regarding fossil fuels that is encouraging manufacturers to switch to alternatives hence fueling the market.
Europe dominates the market owing to the presence of rigid environmental laws where companies go through various emission standards and application of biodegradable products in countries like Germany, Finland, Norway Italy, and France. North America is expected to grow with the highest CAGR. Companies are switching more and more to renewable options and making use of bio-lubricants in various other sectors as well.
The report also provides insights into the top companies operating in the market and ExxonMobil Corporation, Royal Dutch Shell Plc, Total SA, Chevron Corporation, BP Plc, Albemarte Corporation, Panolin AG, Binol Lubricants, Enemy Oleochemicals, and Fuchs Petrolub AG. are extensively profiled in the report.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1193
Report Objective:
The report aims to provide a complete analysis of the global Bio Lubricants market with important details about the key market players such as their financial standing, global position, revenue contribution, production and manufacturing capacity, business expansion plans, mergers and acquisitions, and overall company profiles. It also studies MA activities, joint ventures, partnerships and collaborations, licensing agreements and product launches and brand promotions. It also offers SWOT analysis and Porter’s Five Forces analysis for each player.
The report also aims to benefit the user by providing constructive data to gain insight into the market growth, size, share and lucrative investment approaches. It covers study of crucial aspects such as factors influencing the growth and restraint of the market, buyers and vendors, production and consumption, and value chain analysis. It further provides detailed overview of the key segments of the Bio Lubricants market and revenue share and growth rate of each segment.
Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/1193
Bio Lubricants Market segmentation by Raw Material:
- Vegetable Oil
- Animal Fats
- Others
Bio Lubricants Market segmentation by Application:
- Hydraulic fluids and tractor transmission oils
- Greases and stern tube greases
- Stern tube oils
- Chainsaw Oils
- Concrete release agents
- Wire rope oils
- Two-stroke oils
- Industrial and marine gear oil
The regional analysis covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
To know more about the report @ https://www.reportsanddata.com/report-detail/bio-lubricants-market
Further key findings from the report suggest
- The industrial segment accounts for a substantial portion of the market due to the large scale application of lubricants in the machine and for production
- Vegetable oil has the largest market share as they are used in multiple applications and are produced in large quantities.
- Vegetable oil provide has oxidative property than animal fats and thus have higher technical performance.
- Hydraulic fuel generates the largest revenue owing to its application in both stationary and mobile equipment. It is used as a medium to transfer energy and power to hydraulic systems.
- Commercial based transport dominates the market in the end-use The number of commercial transport on roads switch to bio lubricants will push the growth of the market exponentially.
Read More Report as:-
Healthcare Personal Protective Equipment (PPE) Market
About Us:
We are a boutique market intelligence and strategic consulting firm dedicated to make an meaningful impact on businesses across the globe. Our stellar estimation and forecasting models have earned recognition across majority of the business forum across the globe. Our services are arrayed over diverse sectors and industries looking to expand in alternative regions and products.
Contact Us:
John W
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs | Facebook
