Skip to main content

Biolubricants Market Global Status and Current Scenario by 2024

Increasing passenger car sales in emerging economies is one of the major drivers of industry expansion in recent years. The favorable regulatory framework is expected to encourage the production & consumption of bio-based lubricants over the forecast period. The U.S. EPA has implemented regulations that require all marine vessels to obtain the mandatory Vessel General Permit (VGP) for plying in the U.S. waters & also utilize environment-friendly, acceptable lubricants in all oil-to-sea interfaces.

The Global Biolubricants Market is expected to reach USD 2.92 billion by 2024, according to a new report by Grand View Research, Inc.


Various environmental issues associated with conventional lubricants are driving the demand for vegetable & plant-based lubricants. The product segment is anticipated to benefit from the growing demand from industrial & transportation sectors in developed regions.

Vegetable oil was the leading raw material used for biolubricants with a commanding share of 88.1% in 2015. They are also expected to witness the highest growth of 7.6% over the forecast period.

To Know More About Biolubricants Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/biolubricants-industry 

Top Players of Biolubricants Market:

The industry is consolidated among major players such as Total S.A., Chevron, British Petroleum, ExxonMobil, and UBL. Other significant players such as Emery Oleochemicals, Castrol, Binol Bio Lubricants, Kluber International, Petronas Lubricant International, Solution Biogen Sdn Bhd., and Albermarle.

Market Segmentation of Biolubricants Market:

The Global Biolubricants Market segmented on the basis of Raw Material, Application and Region.

By Raw Material:

Vegetable Oil
Animal Oil

By Application:

Automotive
Automotive Engine Oils
Gear Oils
Hydraulic Oils
Transmission Fluids
Greases
Chainsaw Oils
Industrial
Process Oils
Demolding Oils
Industrial Gear Oils
Industrial Greases
Metal Working Fluids

By End-Use:

Industrial
Commercial Transportation
Consumer Automotive

By Region:

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa

Inquire about Biolubricants Market with Our Experts @ https://www.grandviewresearch.com/inquiry/21 
Labels:

Comments

Post a Comment

Popular posts from this blog

U.S. Liquid Waste Management Market Segments and Key Trend till 2025

Growing organic & non-hazardous liquid waste generation through residential and commercial sources is expected to drive demand over the forecast period. The U.S. Liquid Waste Management Market is expected to reach USD 22.5 Billion by 2025, according to a new report by Grand View Research, Inc. Industrial & residential liquid waste is often associated with water-borne diseases since improper disposal of the waste leads to water pollution, environmental degradation, and soil contamination. As a result, the demand for hygienic liquid waste management services is expected to grow significantly over the forecast period. A major trend arising from the need to improve liquid waste management is the outsourcing of the services to global & competitive players in order to improve the focus on sustainability and meet stringent guidelines. In addition, the government undertakes public-private partnership projects to enhance the efficiency of the waste management process, whi...
Post a Comment
Read more

Triethylene Glycol (TEG) Market with Current Trends Analysis -2022

Increasing natural gas output is expected to be one of the key factors driving TEG demand over the forecast period. Rise in gas production is expected to have a two-fold impact on the TEG market providing abundant feedstock for TEG manufacture on the supply side and utilizing TEG for gas de-hydration on the demand side. Aforementioned factor is anticipated to augment market growth over the forecast period. The Global Triethylene Glycol (TEG) Market is expected to reach USD 718.3 million by 2022, according to a new study by Grand View Research, Inc. Use of TEG in natural gas dehydration accounted for over 55% of global TEG volume in 2014. The segment is also expected to witness fastest growth at an estimated CAGR of over 3.5% from 2015 to 2022. High consumption of TEG in natural gas dehydration can be attributed to growing demand from developed nations including Japan, U.S., EU, Russia and Qatar. Moreover, improving infrastructure for gas import, transport and utilization in ...
Post a Comment
Read more

Specialty Ingredients Market Figures and Analytical Insights 2019 – 2022

Shift in consumer focus towards organic products coupled with growing demand for anti-ageing and environmental defense skin care products is expected to drive the global specialty ingredients market over the forecast period. The Global Specialty Ingredients Market is expected to reach USD 141.12 billion by 2022, according to a new report by Grand View Research, Inc. Increasing preference for healthy and nutritional diet and enhancing growth of high quality pharmaceutical drugs is also expected to have a positive influence on the market growth. Food and beverages dominated the global industry on account of high demand for various beverages, supplements and nutritional dietary products across the globe. Food & beverage industry is expected to experience advancement owing to increasing demand for organic items coupled with high-quality and customized requirements by population over the forecast period. Changing lifestyle has also enhanced preference for nutritional goods whic...
Post a Comment
Read more