Global Bio Lubricant Market to Grow at a CAGR of 3.45% by 2030 | ChemAnalyst

According to ChemAnalyst report, “Global Bio Lubricant Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global bio lubricant market has shown promising growth in the past five years and is anticipated to achieve a CAGR of 3.45% during the forecast period. Growing awareness about environment friendly materials coupled with increasing environmental regulations is expected to drive the demand of bio lubricant for the forecast period.  Additionally, the increasing demand from automotive industry is also going to fuel the demand of bio lubricants during the forecast period.

Ger more info: https://www.chemanalyst.com/industry-report/bio-lubricant-market-560

Bio lubricant is a bio based lubricant which is used to enhance machine performance by reducing friction between different mechanical layers. Bio lubricant is based on vegetable oil and animal fat instead of petroleum. It is biodegradable and environment friendly in nature. It has many application areas including engine oil, metalworking fluid, transmission and hydraulic fluid, general industrial oil, gear oil, grease, process oil, and others. Due to its lubricating properties, bio lubricant finds application in various end use industries including power generation, automotive and transportation, heavy equipment, metallurgy and metal working, chemical manufacturing etc.

Request Sample: https://www.chemanalyst.com/ChemAnalyst/RequestForm

Bio lubricant is basically processed vegetable oil and animal fat. It is different from conventional lubricants as it is bio based and biodegradable in nature. increasing awareness about environment friendly materials and stronger government support for bio based materials are the major drivers of growth in the demand of bio lubricant. It finds application in various industries such as automotive, power generation, heavy equipment, metallurgy and metal working, chemical manufacturing etc. automotive segment of the end use industries holds the major share of global demand of bio lubricant. Out of the application areas including engine oil, metalworking fluid, transmission and hydraulic fluid, general industrial oil, gear oil, grease, process oil etc., engine oil segment holds the major share of global market for bio lubricant.

Bio lubricant is related to vegetable oil and animal fat hence the price is directly linked to the fluctuations in the price of vegetable oil and animal fat. In the first half of FY20 sudden outbreak of novel coronavirus followed by fall in in the demand of automotive rendered a major downfall in the global bio lubricant, hence the prices remained low for bio lubricant during the coronavirus pandemic. Demand has picked up in the recent quarters and is projected to grow due to increasing demand from Asia Pacific and North America.

Regionally, Asia Pacific dominates the Global bio lubricant market and holds the largest market share in 2020. Asia’s bio lubricant market is anticipated to grow in the economies like China due to increasing demand of automotive and power generation. Moreover, increasing government support for environment friendly materials is also an influencing factor supporting demand rise in Asia Pacific.  

According to ChemAnalyst report, Global Bio Lubricant Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating global bio lubricant market are Axel Christiernsson, BP PLC, Chevron Corporation, Cortec Corporation, ExxonMobil Corporation, Kluber Lubrication, Novvi LLC, Panolin Ag, Royal Dutch Shell PLC, Repsol, Bechem, Cargill, Total, FUCHS, Emery Oleochemicals.

“Being linked to the automotive and mechanical industry, the global bio lubricant industry has shown a robust growth alongside growing population and changing consumer preference which is moving towards more environment friendly materials like bio lubricants. China serves as the key growth region with sufficiently installed capacities for bio lubricant.  With new competitors emerging across the Asia Pacific bio lubricant market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.

Browse Related Reports

APAC Biodegradable Polymers Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030

https://www.chemanalyst.com/industry-report/apac-biodegradable-polymers-market-465

India Biodiesel Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, End Use, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030

https://www.chemanalyst.com/industry-report/india-biodiesel-market-9

About Us       

ChemAnalyst is a leading provider of chemical commodity prices in more than 12 countries since from last 4 Years. The company has emerged as a preferred pricing supplier amongst Procurement Managers and Strategy Professionals globally who wants to track near real time prices of chemicals on its interactive dashboard. Unlike most of its competitors such as ICIS, IHS & S&P Platts the company doesn’t believe in delivering prices in PDF reports. The company has developed proprietary algorithm based online subscription platform in which users can track years of historical prices of more than 250 chemical commodities. In addition, since it’s all online, the users cannot just compare prices across multiple countries but also with other commodities and play with the data by generating multiple graphs to find out amazing insights. The users get access to grade wise CIF, CFR & Ex Works prices at multiple ports in each country.

ChemAnalyst also provides market analysis for more than 1000+ chemical commodities such as Production, Demand, Supply, Plant Operating Rate, Imports, Exports, Suppliers, Customers and much more. The company has created online interactive dashboard in which customers can access all this data instantly with a click of a button. The users will not only be able to analyse historical data for past years but will also get to analyse short term and long-term forecasts for coming years. With the access to local field teams, the company can provide high quality reliable market analysis data for more than 20 countries.

ChemAnalyst is a one stop solution for all the data related needs. We at ChemAnalyst are committed to assist customers worldwide with their data and insights needs using our comprehensive online platform.

For more information, please visit us at www.chemanalyst.com

Contact Us:

Nilesh Vishwakarma

B-44 Sector-57 Noida,

National Capital Region

Tel: 0120-4523948

Mob: +91-8882336899

Email: [email protected]