Biolubricants Market is anticipated to rise at a staggering CAGR during the forecast period. Lubricant serves the purpose of lubrication for various mechanical and power-driven components. The conventional lubricant is a form of petroleum-based feedstock that leads in serious environmental impact and disturbs the ecological system. In order, to reduce the dependency, development of sustainable alternatives such as biolubricants serve as a major source of power. Therefore, biolubricants are prepared using sunflower oil, palm oil and coconut oil and animal fats.
Bio-lubricants
industry is highly segmented into application and end-use. Application category
comprises metalworking fluids, mold release agents, chainsaw oils and hydraulic
fluids. End-use category comprises commercial transport, industrial and
consumer automobile. Industrial is the largest end use segment due to the
massive demand followed by significant R&D activities. However,
international political scenarios and fluctuation in ban policies creates
sustainable challenges.
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Segmentation
by source for biolubricant market entails animal fats, edible & non-edible
oils. By application, the bio-lubricant industry comprises greases, automobile,
metalworking, grease and lubricant. End-user segmentation for bio-lubricants
market comprises marine industry, automotive industry, oil & gas and
construction.
Geographical
segmentation for biolubricants industry comprises North America, Latin America,
Europe, Asia-Pacific, Middle East and Africa. North America and Europe markets
are likely to gain a significant market share owing to stringent regulations.
High investments and product launches are likely to contribute to the
bio-lubricant market developments. In addition, rising use of biolubricants for
industries adds more to the contribution.
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Asia-Pacific
and MEA regions are most likely to deal in a high supply-high demand scenario.
Consumer preference for biodegradable oil for industrial end-use is one of the
major factor for regional growth.
The
key players profiled in the biolubricant industry are Total, Shell, Binol
Lubricants, ExxonMobil, Kluber Lubrication, Chevron Corporation, BP Plc, Fuchs
Petrolub SE, Balmer Lubricants, Altranex Corporation, Balmer Lawrie, Emery
Oleochemicals, Panolin and Kluber Lubrication.
Market
Segment:
Global
Biolubricants Raw Material Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2024)
• Vegetable Oil
• Animal Oil
Global
Biolubricants Application Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2024)
• Automotive
• Automotive Engine Oils
• Gear Oils
• Hydraulic Oils
• Transmission Fluids
• Greases
• Chainsaw Oils
• Others
• Industrial
• Process Oils
• Demolding Oils
• Industrial Gear Oils
• Industrial Greases
• Metal Working Fluids
• Others
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