Global Biolubricants Consumption to Reach 1.9 billion lbs of worth $3 billion by 2020
Friday 25 Apr 2014
Industry Experts has today released the new market research report on biolubricants. The new report ‘Biolubricants – A Global Market Overview’ reveals that the global market for biolubricants will touch 1.3 billion lbs in 2014 valued at US$2.1 billion.
Global plant-based lubricants industry, in particular, is as yet in a nascent stage, though emergent regulatory impacts on lubricants offer the potential for increasing the consumption of biolubricants over the coming decade. Regulatory actions from the United States government have already specified a minimum renewable content for a range of product categories, with the US Air Force also coming forward in supporting the use of plant-derived bio-based products as a fundamental and strategic approach to national security.
Chemical registration policies in the European Union, the United States and China would also play a crucial role in incentivizing greater adoption of biolubricants. Legislations related to emissions and the constantly increasing oil change intervals that reduce unit volumes could be viewed as challenges and restraints for the biolubricants market. While the historic price levels of refined vegetable oils have been considerably higher compared to traditional petroleum base stocks, the recent years have witnessed a narrowing down of this price differential. This trend augurs well for the future, when price increases in petroleum base oils would become a significant driver that would increase the cost competitiveness of vegetable-based base oils in the formulation of lubricants.
This report reviews, analyses and projects the biolubricants market for global and the regional markets including North America, Europe, Asia-Pacific and Rest of World. The regional markets further analyzed for 12 independent countries across North America – The United States and Canada; Europe – Germany, Scandinavia, Italy, Benelux, Switzerland and Austria; Asia-Pacific – China, Japan, India and South Korea.
Worldwide market for Biolubricant product categories explored in this study includes Hydraulic Fluids, Metalworking Fluids, Chainsaw Lubricants, Mold Release Agents, Gear Oils, Two-Stroke Engine Oils and Greases. The report also focuses on end-use markets for biolubricants comprising Automotive & Transportation, Commercial/Industrial and Others. The global markets for the above mentioned product categories and end-use applications are analyzed in both value in USD and the volumes in pounds (lbs). Global volume consumption of Biolubricants, estimated at 1.3 billion pounds in 2013, valued at about US$2 billion, and forecast at 1.4 billion pounds (US$2.1 billion) in 2014, is further expected to maintain a CAGR of 5.5% between 2010 and 2020 to reach a projected 1.9 billion pounds, of value US$3 billion, by 2020.
Containing 451 pages, this global report on biolubricants market includes 347 charts (includes a data table and graphical representation for each chart), supported with meaningful and easy to understand graphical presentation, of market numbers. This report profiles 32 key global players and 46 major players across North America – 23; Europe – 20; and Asia-Pacific – 3. The research also provides the listing of the companies engaged in manufacturing and supply of biolubricants. The global list of companies covers addresses, contact numbers and the website addresses of 65 companies.
Hyderabad, India based Industry Experts is a multi industry focused business information provider.
For more details, please visit https://industry-experts.com/verticals/biotechnology/biolubricants-a-global-market-overview.html