A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Bio
based lubricants market.
The study, titled “Bio
Based Lubricants Market - Global Industry Analysis, Size, Share,
Trends, Analysis, Growth and Forecast 2014 - 2020”,
is available for sale on the firm’s website.
Global
Bio Based Lubricants Market: Overview
The
increasing depletion of crude oil resources and the increasing
awareness about their environmental implications have led to the
development of environment-friendly lubricants. This is because crude
oil based lubricants have health implications and are also a cause of
pollution that environment-friendly products are free of. Lubricants
usually impact the environment at all stages from production to use
to disposal and thus need to be non-toxic to humans either through
inhalation or contact during production and use.
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Bio
based lubricants are mainly synthesized from vegetable oil and
oilseeds. Bio based lubricants are mostly made of esters, which are
either natural, oleo chemical, or complex. While natural esters are
triglycerides of vegetable oils, oleo chemical esters of fatty acids
are polyol esters and diesters and complex esters. These lubricating
substances are synthesized from numerous cultures, usually rapeseed
or sunflower, but can also be produced from exotic oils. Moreover,
depending on the usage, fatty acids can also be derived from palm oil
and coconut oil and these oils have distinguished properties in
comparison to the oils that are commonly use, predominantly in terms
of oxidation stability.
The
report is a complete study of current market trends, growth drivers,
and restraints that will impact the growth of the global bio based
lubricants market between 2014 and 2020. 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 2024.
Global
Bio Based Lubricants Market: 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. The increasing use of bio based lubricants derived from
renewable resources is also due to their low toxicity, high
biodegradability, and environment-friendly nature. Due to the natural
abundance and high lubricating properties of vegetable oils, they are
increasingly finding application in hydraulic fluids, petroleum fuel
additives, engine oils, and metalworking fluids. With increasing
demand for vegetable oils, their production is also on the rise. For
example, the annual production of vegetable oil increased from 55
million metric tons (MMT) in 1980 to 100 MMT by 2000 across the
globe. It is projected to reach 200 MMT by 2020.
However,
factors such as fluctuations in mineral oil prices and the high cost
of production of bio based lubricants are slowing the growth of this
market. Nevertheless, rapid industrialization predominantly in
emerging economies is expected to offer ample growth opportunities to
the growth of this market.
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. Thus,
increasing public response to prevent such situations the stipulation
of norms that encourages the use of environment friendly lubricants
are desirable. This has created an opportunity for the production of
environmental friendly lubricants that are synthesized from natural
esters such as vegetable oils.
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Market Research Report with ToC & Analysis :
Major
Companies Mentioned in Report
Some
of the leading players in the global bio based lubricants market are
United Bio Lube, Soyatech LLC, Renewable Lubricants Inc., and
Nio-based Lubricants LLC among others. Each of the companies is
profiled for their attributes of business position, recent
developments, product portfolio and specification, and SWOTs.
The
global bio based lubricants market is segmented as follows:
Global
Bio Based Lubricants Market, by Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
This
report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
About
Us
Transparency
Market Research (TMR) is a market intelligence company, providing
global business information reports and services. Our exclusive blend
of quantitative forecasting and trends analysis provides
forward-looking insight for thousands of decision makers. TMR's
experienced team of Analysts, Researchers, and Consultants, use
proprietary data sources and various tools and techniques to gather
and analyze information.
Our
data repository is continuously updated and revised by a team of
research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary
research techniques in developing distinctive data sets and research
material for business reports.
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