April 17, 2018 - 8:51 AM EDT
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Global Bio-Lubricant (Vegetable Oil, Animal Fat) Market 2018-2022 - ResearchAndMarkets.com

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The "Bio-Lubricant 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" report has been added to ResearchAndMarkets.com's offering.

The bio-lubricants market size in 2017 is estimated at USD 2.47 billion and is projected to reach USD 3.36 billion by 2022 at a CAGR of 6.4% between 2017 and 2022.

Environmental regulations, increasing production of vegetable oils, and emerging applications of bio-lubricants are some of the drivers of the market. Bio-lubricants are used across various end-use industries, and the long-term benefits of each application surpass their respective disadvantages. However, factors such as high prices and decline in crude oil prices are hindering the growth of the bio-lubricants market.

The hydraulic fluids application accounted for the largest share in terms of value, in 2016. The segment is also projected to grow at the highest CAGR during the forecast period. Hydraulic fluids are used in moving mechanical parts, cylinders in bridges and locks, elevators, and other fluids.

In the US and Canada, more than 75% of the elevators work on the principle of hydraulic fluids, which has a substantial market potential for bio-lubricants. Modified variants of bio-lubricants are being developed which remain in liquid form even at low temperatures with high oxidative stability. These lubricants have a long life span and are, therefore, expected to have increasing use in low-temperature applications. This is driving the market for the hydraulic fluids application segment.

Market Dynamics

Drivers

  • Stringent Regulations and Government Initiatives
  • Vessel General Permit
  • Biopreferred Program
  • European Ecolabel
  • Government Funding

Restraints

  • Costlier Than Petroleum-Based Counterparts
  • High Viscosity at Low Temperature

Opportunities

  • Introduction of Legislations
  • Emerging Applications

Challenges

  • Uncertain Crude Oil Prices
  • Production and Commercialization

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Bio-Lubricants Market, By Base Oil Type

8 Bio-Lubricants Market, By Application

9 Bio-Lubricants Market, By End-Use Industry

10 Bio-Lubricants Market, By Region

11 Competitive Landscape

12 Company Profiles

  • Advonex International
  • Albemarle Corporation
  • Balmer Lawrie
  • Binol Lubricants
  • Biona Jersn S.R.O.
  • BP Plc
  • Carl Bechem
  • Chevron Corporation
  • Emery Oleochemicals
  • Exxonmobil Corporation
  • Fuchs Petrolub AG
  • Green Earth Technologies Inc.
  • Igol Lubricants
  • Kajo Chemie
  • Klber Lubrication Mnchen Se & Co. Kg
  • Magna Group
  • Mint Biofuels Ltd
  • Panolin AG
  • Polnox Corporation
  • Renewable Lubricants
  • Rowe Mineralolwerk Gmbh
  • Royal Dutch Shell Plc
  • Rsc Bio Solutions
  • Total SA
  • Vickers Oil

For more information about this report visit https://www.researchandmarkets.com/research/3cfmhg/global?w=4

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Related Topics: Lubricants and Greases


Source: Business Wire (April 17, 2018 - 8:51 AM EDT)

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