The north American market is segmented into the U. Most of the customers have understood the importance of using special lubricants and they are also ready to pay a premium for extra benefits they receive by using it.
Based on end use, the bio-based lubricants market is divided into commercial transportation lubricants, industrial lubricants, and consumer automotive lubricants. Bio-based lubricants can also be segmented on the basis of end user. The demand for synthetic lubricants from consumer automotive applications is anticipated to reach Moreover, increased research and development activities to mitigate the harmful effect of synthetic lubricants on the environment results in the development of bio-based lubricants, which is further predicted to drive the growth of the market over the estimated period.
These lubricating substances are synthesized from numerous cultures, usually rapeseed or sunflower, but can also be produced from exotic oils. Conventional petroleum based lubricant is hazardous to the ecological system, so more emphasis is on the development of bio-lubricants products.
Global lubricants market research report- information by type mineral oil, bio-based, and synthetic lubricantsapplication industrial, automotive, marine, construction, and others region — Forecast till Synopsis of Lubricants Market: Providing insights about market drivers, obstructions and opportunities.
Lubricants are used to reduce heat and wear between contacting surfaces in relative motion. Furthermore, rising mining and construction activities in the developing and developed countries are expected to give a new momentum to the market growth.
Bio-based lubricants are derived from vegetable oils, are biodegradable and are not toxic when disposed in the environment. Commercial and consumer automotive applications combined formed Asia Pacific and Latin America are major markets for synthetic lubricants given the rapid growth of the automotive and industrial sectors in these regions.
On the basis of products, the bio-based lubricants market is segmented into vegetable and animal oils. Using validated research tools and assumptions, the report presents market size estimates and competitive structure of the market until the end of the forecast period in Traders and Distributors of lubricants Production Process Industries.
The market value for the same is estimated to reach USD 62, The increased car ownerships and rapid development of industrialization in BRIC countries are the major factors driving the growth of the market in these countries.
In the same year, however, vegetable oil accounted for This comprises automatic transmission fluid, gear oil, grease and passenger vehicle engine and motor oil.
Oil spills and fires that happen due to crude oil based lubricants can impact environmentally sensitive areas such as waterways, harbors, forests, construction sites, agriculture, and mining. Drivers and Restraints The implementation of mandates for the usage of bio based lubricants and growth in end-user industries such as transportation, shipping are some of the major factors driving the global bio based lubricants market.
Lubricants are available in liquid, semi-fluid, or solid state, and possess various characteristics, such as, high viscosity index, high level of thermal stability, low freezing point, and high boiling point, all of which help to reduce friction between surfaces of machine parts and the rate of wear, without compromising operational efficiency.
The increasing use of bio based lubricants derived from renewable resources is also due to their low toxicity, high biodegradability, and environment-friendly nature.
This robust growth in the manufacturing activities in the region is expected to create a surge in the demand for lubricants, during the forecast period.
Industrial segment is further classified into metalworking fluids, general industrial oils, process oils, and industrial engine oils.Global Demand for Bio-based Lubricants to Touch Kilo Tons by Driven by Strong Regulatory Support.
Published: Mar, Transparency Market Research, in a report, Browse the full Synthetic & Bio-Based Lubricants Market - Global Industry Analysis, Market Size, Share, Trends. Global lubricants market research report- information by type (mineral oil, bio-based, and synthetic lubricants), application (industrial, automotive, marine, construction, and others) region –.
We will write a custom essay sample on Current Market Research Report on Synthetic & Bio-Based Lubricants Market specifically for you for only $ $ /page Order now.
The report for global bio-lubricants market by Market Research Future comprises of extensive primary research along with detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain deeper insight of the market and industry performance.
The report gives a clear picture of current. This study estimates and forecasts the demand for synthetic (mineral oils and chemical oils) and bio-based lubricants in the global market. Synthetic lubricants market has been segmented on the basis of various products including industrial, consumer automotive and commercial automotive lubricants.
Based on type of product, the market has been generating highest revenue from mineral lubricant, while synthetic and bio-based are the other major lubricants.
GLOBAL LUBRICANTS MARKET SHARE BY PRODUCT, BASES ON VALUE ( AND ).Download