Europe to Dominate Bio-Lubricants Market until 2025
According
to TechSci Research report, “Global Bio-Lubricants
Market By Base Oil Type (Rapeseed, Canola, Sunflower, Soybean, Palm, and
Coconut oils, Animal Fat, Others), By Application (Hydraulic Fluids,
Metalworking Fluids, Chainsaw Oils, Mold Release Agents, Two-Cycle Engine Oils,
Greases, Others), By End Use (Industrial, Commercial Transport, Consumer
Automobile), By Region, Competition, Forecast & Opportunities, 2025”, global
bio-lubricants market is expected to grow at a substantial
CAGR during the forecast period. New products, antioxidants, additives are
being developed in order to enhance the market penetration in various end user
industries, which in turn is expected to drive the market growth over the
coming years. When compared
to traditional lubricants, these bio -lubricants offer various advantages such
as non-toxicity, carbon neutral, renewable, and environment-friendly, which is
resulting in increased demand for bio-lubricants across the globe. Additionally,
petroleum-based lubricants lead to skin inflammation, which is not the case
with bio-based lubricants, which is expected to bode well for the growth of global
bio-lubricants market through 2025. Moreover, reduction in labour cost along
with increased security of the employees are other factors creating new growth
opportunities for global bio-lubricants market in the years to come.
Furthermore, escalating research and development activities is further anticipated
in giving healthy push to the growth of global bio-lubricants market in the
coming years. However, limited range of well-developed applications is a major factor
that might restrain the growth of global bio-lubricants market through 2025.
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Global
bio-lubricants market can be segmented based on base oil type, application, end-use, composition, company and
region. Considering the base oil type, the market is fragmented into rapeseed,
canola, sunflower, soybean, palm, coconut oils, animal fat, others. The vegetable
oil-based bio lubricants that are rapeseed, canola, sunflower, soybean is
anticipated to register high growth until 2025, as they provide enhanced
oxidative stability along with technical performance on comparison with animal
fats. Moreover, owing to wildlife conservation concerns, vegetable oils-based bio
lubricants are preferred, which is anticipated to fuel the growth of global bio-lubricants
market in the coming years.
Albemarle
Corporation, Fuchs Petrolub AG, Panolin AG, Klüber Lubrication München SE &
Co. Kg, Emery Oleochemicals, Binol Lubricants, Panolin among others are the
leading players operating in global bio-lubricants market. The players are
adopting several growth strategies to enhance the market scenario of bio-lubricants.
Other competitive strategies include mergers & acquisitions to diverse
their product portfolio in order to strengthen their market position.
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“Europe dominated the market until 2019 with majority of the market shares
in the global market for bio-lubricants. Release of lubricants into the
environment which can be in any form such as chainsaw oils, two-stroke oils,
and mold release agents is a concern among growing economies. Therefore, these
developed countries have ecolabels which supports the use of bio lubricants
instead of conventional one, which is anticipated to positively influence
market growth in the region through 2025.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Bio-Lubricants Market By Base Oil Type
(Rapeseed, Canola, Sunflower, Soybean, Palm, and Coconut oils, Animal Fat,
Others), By Application (Hydraulic Fluids, Metalworking Fluids, Chainsaw Oils,
Mold Release Agents, Two-Cycle Engine Oils, Greases, Others), By End Use
(Industrial, Commercial Transport, Consumer Automobile), By Region,
Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global
bio-lubricants market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global bio-lubricants market.
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