Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Bio lubricants is interpreted as a lubricant obtained from natural raw materials both vegetable and animal oils, renewable and which are non-toxic to humans. Vegetable oil used for the production of bio-lubricant may be obtained from plant seeds, such as vegetable oils which may be consumed or which cannot be consumed. Moreover increasing amount of environmental pollution can be solved by replacing petroleum lubricant with bio lubricant those have made from vegetable oils will propel the demand in the market. The use of bio lubricants is particularly relevant to certain environments in which environmental protection is a constant concern. This is particularly true of aquatic, mountain, agricultural and forest environments. Vegetable oil can affect the characteristics to be generated bio-lubricant due to its composition of fatty acids. Vegetable oils with more double chains will have a higher pouring point and a lower stability of oxidation. Bio lubricants are used in various applications such as agriculture, forestry, transportation, mining, automotive, fishing, chain saw oils, transmission oils, engine oils and hydraulic oils and are used to minimize friction between surfaces in mutual contact.
The key factor for the growth of global bio-lubricants market is growing demand for lubricants with superior product characteristics such as constant viscosity, high flash points, biodegradability, and lower emission levels. More importantly, these bio-lubricants are biodegradable, generally less toxic and renewable, reduce dependency on imported petroleum oils. Besides, regulatory norms driving the demand for bio-based lubricants is fueling the growth. The major bio-lubricants manufacturers are working more closely with the lubricant industry to design additives that are suitable for improving the performance and are more environmentally benign.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the bio-lubricants market. In addition, complete analysis of changes on the bio-lubricants market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. COVID-19 impact on the bio-lubricants market was negative due to pandemic the entire production was disrupted which also had an adverse effect on supply chain of bio-lubricants.
The bio-lubricants market is segmented based on by base oil, by application, by end-use industry and by geography.
The bio-lubricants are available in different base oil types including vegetable oils, animal fats. Vegetable oil is further bifurcated to canola, palm oil, rapeseed and sunflower. Vegetable base oil is expected to dominate in the bio-lubricants market by base oil type owing to high biodegradability, cost-effectiveness, renewability, and lower environmental effects, less toxic, and high lubricity. The growth can also be attributed to the abundant availability of vegetable oil seeds used as raw materials.
Bio-lubricants market has major application in chainsaw oil, gear oils, greases, hydraulic oil, metalworking fluids, mold release agents, two-cycle engine oils. Engine oils has a higher inherent biodegradation rate, low toxicity to aquatic organisms, and very low levels of bioaccumulation that are boosting their application in the sector. Replacing hydrocarbon-based oils with biodegradable products is one way to reduce the adverse effects on the ecosystem that fuel demand for engine oils on the global bio-lubricants market.
The Bio-lubricants market had its end use in industrial, commercial transport, consumer automobile. Industrial is further sub- segmented to energy & power, foods & pharmaceuticals, marine, mining & metallurgy. Industrial is projected to have the largest end user of bio-lubricants owing to demand from marine industry and agriculture & construction industry. Besides, Commercial transport is anticipated to grow at the highest pace owing to growing maintenance in heavy and light-duty trucks. Also, consumers are investing in advanced innovative products which will enhance performance with fuel efficiency regulations. In addition, private sector investments and various automotive companies working towards the development of ultra-low emission vehicles in order to comply with transitional regulatory requirements are also expected to fuel demand for biolubricants over the forecast period.
Geographically the global bio-lubricants market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). Europe is estimated to lead the global bio-lubricants market and has accounted significant share in the global bio-lubricants market owing to stringent regulations and the ongoing transition towards bio economy in regions and use of bio-based chemicals such as bio-lubricants and biofuels in the region is propelling the growth of market. Likewise, Asia Pacific is anticipated to be the fastest growing region in terms of consumers as the region is largest automobile manufacturing hubs. In addition, countries like China, India, Indonesia, and Thailand are increasingly manufacturing and exporting passenger cars and other vehicles to developed regions s fueling the growth of bio-lubricants market.
The key players in bio-lubricants market are Royal Dutch Shell Plc, Advonex International, Albemarle Corporation, Balmer Lawrie, Binol Lubricants, Biona Jersín S.R.O., BP Plc, Carl Bechem, Chevron Corporation, Emery Oleochemicals, Fuchs Petrolub AG, Green Earth Technologies Inc., Igol Lubricants, Kajo Chemie, Kluber Lubrication München Se & Co. Kg, Magna Group, Mint Biofuels Ltd, Panolin AG, Polnox Corporation, Renewable Lubricants, Rowe Mineralolwerk Gmbh, Rsc Bio Solutions, Total SA and Vickers Oil among others.
December 2019: AT-Tuote had launched world’s first industrial lubricant with nearly 100% bio-based content. The product is based on a new formulation 95% of its content is derived from renewable sources, Neste MY Renewable Isoalkane being the key component.
January 2019: CRC Industries had introduced a new NSF A1-rated CRC Food Grade Bio Degreaser which expands its leading CRC GREENLIGHT Food Safe Program range. It is a unique product which combines outstanding high-performance cleaning and degreasing qualities while being composed entirely of ingredients which meet NSF A1 requirements. The product will be present in Australian market.
The report analyses the global dental milling machine market based on by base oil, by application, by end-use industry and by geography. The bio-lubricants are available in different base oil types including vegetable oils, animal fats. Bio-lubricants market has major application in chainsaw oil, gear oils, greases, hydraulic oil, metalworking fluids, mold release agents, two-cycle engine oils. The Bio-lubricants market had its end use in industrial, commercial transport, consumer automobile. Geographically the global bio-lubricants market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW)
The key players in bio-lubricants market are Royal Dutch Shell Plc, Advonex International, Albemarle Corporation, Balmer Lawrie, Binol Lubricants, Biona Jersín S.R.O., BP Plc, Carl Bechem, Chevron Corporation, Emery Oleochemicals, Fuchs Petrolub AG, Green Earth Technologies Inc., Igol Lubricants, Kajo Chemie, Kluber Lubrication München Se & Co. Kg, Magna Group, Mint Biofuels Ltd, Panolin AG, Polnox Corporation, Renewable Lubricants, Rowe Mineralolwerk Gmbh, Rsc Bio Solutions, Total SA and Vickers Oil among others.
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