Auto Industry News
Auto Bailout News
Auto Show News
Car Dealers News
| Automotive News
| Submit Press Release
(I-AutoNewsWire.com, March 20, 2020 ) The report "Bio-Lubricants Market By Base Oil Type (Vegetable Oil, Animal Fat), Application (Hydraulic Fluids, Metalworking Fluids, Chainsaw Oils, Mold Release Agents), End Use (Industrial, Commercial Transport, Consumer Automobile) - Global Forecast To 2022" The bio-lubricants market is expected to grow from an estimated USD 2.47 Billion in 2017 to reach USD 3.36 Billion by 2022, at a CAGR of 6.4% between 2017 and 2022. Increasing environmental regulations, such as the Vessel General Permit (VGP) and Ecolabels in developed markets, such as the US and European countries, and new and upcoming firms involved in the R&D of bio-lubricants are projected to drive the bio-lubricants market during the forecast period.
Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=17431466
Hydraulic fluids - major application of bio-lubricants
The hydraulic fluids application accounted for the largest share of the market, in terms of value, in 2016. These are used in both, stationary and mobile equipment, such as hydraulic elevators, sweepers, garage trucks, forklifts, motor graders, and front-end loaders. High degree of biodegradability and low toxicity is essential for hydraulic fluids to be environmentally safe. Bio-lubricants as hydraulic fluids are preferred in areas where contamination can harm the environment. The demand for environment-friendly hydraulic fluids is driven by several stringent regulations in sensitive areas, such as marine and forests.
Industrial segment – largest end-use segment of bio-lubricants
The industrial segment accounted for the largest share in terms of value, of the overall bio-lubricants market in 2016. A number of environmental legislations have been implemented in developed European countries, such as Germany, Italy, and Scandinavian countries, where awareness regarding environmental hazards of mineral oils is high. Increasing environmental awareness is causing a shift in consumption patterns to the use of bio-lubricants for industrial applications.
Commercial transport is projected to be the fastest-growing end-use segment of bio-lubricants during the forecast period. Concerns raised due to the disposal of mineral-based lubricants into the environment are leading to the higher demand in this sector. Approximately 20%–30% hydraulic fluids used in the commercial transport sector are released into the environment through leakages or hose ruptures.
Don't miss out on business opportunities in Bio-Lubricant Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=17431466
Browse in-depth TOC on "Bio-Lubricant Market”
212 - Market Data Tables
60 - Figures
210 - Pages
North America and Europe accounted for approximately an 84% share of the bio-lubricants market in 2016
Europe is the prime consumer of bio-lubricants, globally, and accounted for the largest share of the bio-lubricants market in 2016. The bio-lubricants market in North America is projected to grow at the highest CAGR between 2017 and 2022, backed by stringent regulations, such as Vessel General Permit and BioPreferred Program. North America is expected to lead the bio-lubricants market by 2022, due to high investments by manufacturers for new product launches and the expansion of production capacities to increase market leadership.
The major players covered in the report are Fuchs (Germany), Panolin (Switzerland), Cargill (US), Total (France), BP (UK), ExxonMobil (US), Binol Lubricants (Sweden), Kluber Lubrication (Germany), Emery Oleochemicals (Malaysia), and Albemarle (US).
Get This Report @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=17431466
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Sanjay Gupta