The ****** 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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****** Biolubricants Raw Material Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)
- Vegetable Oil
- Animal Oil
****** Biolubricants Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)
- Automotive Engine Oils
- Gear Oils
- Hydraulic Oils
- Transmission Fluids
- Chainsaw Oils
- Process Oils
- Demolding Oils
- Industrial Gear Oils
- Industrial Greases
- Metal Working Fluids
****** Biolubricants End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2024)
- Commercial Transportation
- Consumer Automotive
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.
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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.
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.
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