What is Bio-Based Lubricants Market?
Bio-based lubricants are lubricants derived from bio-based raw materials such as animal fats, vegetable oils, or any other environmentally benign hydrocarbons and used as an alternative to mineral-based lubricants. These lubricants improve the lubricity, biodegradable and less toxic. Bio-based lubricants have many advantages over petroleum-based products such as naturally better lubrication, superior viscosity/pressure performance, better thin-film strength, lower volatility, higher flash point, less smoke and risk of fire. The factors such as High Demand for Bio-Based Lubricants from Power Generation and Stringent Government Rules and Regulations for User of Bio-Based Lubricants are driving the global bio-based lubricants market. The high Cost of Bio-Based Lubricants may affect the market growth. North America and Europe are the two regions accounting for the highest consumption of bio-lubricants due to high environmental awareness among end-users as well as the stringent environmental protection policies.
The market study is being classified by Type (Gear Oil, Engine Oil, Metalworking Fluid, Transmission and Hydraulic Fluid, General Industrial Oil, Process Oil and Grease) and major geographies with country level break-up.
BP plc (United Kingdom), Exxon Mobil Corporation (United States), Royal Dutch Shell (Netherlands), Total SE (France), Chevron Corporation (United States), Sinopec (China), DMS Systems Corp. (United States), Cargill, Inc. (United States), Renewable Lubricants Inc. (United States), PANOLIN Group (Switzerland), ConocoPhillips (United States) and Houghton International Inc. (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Environmental Lubricants Manufacturing, Inc. (United States) and BioBlend Renewable Resources, LLC (United States).
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Bio-Based Lubricants market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Bio-Based Lubricants market by Type, Application and Region.
On the basis of geography, the market of Bio-Based Lubricants has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- High Demand for Bio-Based Lubricants from Power Generation
- Stringent Government Rules and Regulations for User of Bio-Based Lubricants
- Increased Awareness about Environmental Effects of Petroleum Products
- High Cost of the Bio-Based Lubricants
- Growing Demand from Various Industries
- Robust Increase in the Distribution Channels
- Low Performance in Cold Temperatures and Viscocity Limitations
In May 2017, Cargill strengthens its bio-industrial offerings with the acquisition of Rogers Arkansas-based BioBased Technologies vegetable-based polyol product line, Agrol and other assets.
Key Target AudienceBio-Based Lubricants Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies, Research Professionals and End-users
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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