Book Online or Call 1-855-SAUSALITO

Sign In  |  Register  |  About Sausalito  |  Contact Us

Sausalito, CA
September 01, 2020 1:41pm
7-Day Forecast | Traffic
  • Search Hotels in Sausalito

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Bio-lubricants Market Worth $4,514.5 Million by 2027; Increasing Environmental Awareness among Industries to Prove Beneficial for the Market, Says Fortune Business Insights™

Pune, India, Jan. 21, 2021 (GLOBE NEWSWIRE) -- The global bio-lubricants market size is projected to reach USD 4,514.5 million by 2027, exhibiting a CAGR of 4.8% during the forecast period. Soaring demand for electric vehicles (EVs) worldwide will create unique opportunities for players in this market, observes Fortune Business Insights™ in its report, titled Bio lubricants Market Size, Share & Covid-19 Impact Analysis, By Application (Hydraulic Fluids, Metalworking Fluids, Chainsaw Oils, Mold Release Agents, Two-Cycle Engine Oils, Gear Oils, Greases, and Others), By End-use Industry (Automotive and Other Transportation, Metalworking, Mining, Forestry, Marine, Engines, and Others), and Regional Forecast, 2020-2027”.

As per recent data and analysis released by the International Energy Agency (IEA), 2.1 million electric cars were sold across the globe in 2019, taking the global EV stock to 7.2 million. Electric car sales, the IEA highlights, accounted for 2.6% of the global car sales, and even amid the coronavirus pandemic, the IEA predicts that EVs will hold a 3% share in the overall car sales worldwide in 2020. Bio-lubricants are expected to play a critical role in augmenting the eco-friendly quotient of EVs. Bio-based compounds, such as polyalkylene glycols and saturated esters, have proven to be highly effective as lubricants, even more so than conventional mineral oil-based lubricants. The increasing intensity towards achieving sustainable mobility is, therefore, foreseen to drive the dynamics of this market over the next decade.


Get a Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/covid19-impact/bio-lubricants-market-104654


List of Top Companies Covered in the Bio-lubricants Market are:

  • Castrol (Pangbourne, UK)
  • Emery Oleochemicals  (Selangor, Malaysia)
  • Repsol (Madrid, Spain)
  • Klüber Lubrication (Munich, Germany)
  • Cortec Corporation (Minnesota, U.S.)
  • Axel Christiernsson (Gothenburg, Sweden)
  • Total (Paris, France)
  • Shell (The Hague, Netherlands)
  • PANOLIN AG (Madetswil, Switzerland)
  • IGOL (Geneva, Switzerland)
  • bp p.l.c. (London, UK)
  • Environmental Lubricants Manufacturing, Inc. (Iowa, U.S.)
  • BECHEM (Hagen, Germany)
  • Cargill (Minnesota, U.S.)
  • Exxon Mobil Corporation (Texas, U.S.)
  • FUCHS (Mannheim, Germany)


Restraining Factor

Stalled Automotive Production amid COVID-19 to Hamper Market Growth

The COVID-19 pandemic has led to a severe and unprecedented downturn in the automotive industry. Lockdowns, social distancing, and strict government regulations on the movement of people and materials have forced auto companies to shut down production and sales operations. For example, in March 2020, the French automotive giant, PSA Group, announced the closure of a dozen of its plants across Europe.

Similarly, Fiat Chrysler halted production at most of plants in Europe, with temporary shutdown of its facilities in Serbia, Italy, and Poland. The demand for vehicles has also had to deal with multiple shocks across regions as employees swiftly adopted work from home measures. For example, the Oxford Business Group found that light vehicle year-on-year sales in China contracted by a historic 79.1% in February, while in Europe the decline was by 44% in March. The pandemic is, thus, restraining the bio-lubricants market growth as these materials are extensively used in the automotive industry and contracting activities of this industry will inevitably affect markets associated with it.


Order a Complete Research Report:

https://www.fortunebusinessinsights.com/checkout-page/104654


In 2019, the report states that the global market value stood at USD 3,275.7 million. The report also shares the following:

  • Microscopic diagnosis of all the factors driving and restraining the market;
  • Comprehensive analysis of the various market segments;
  • Granular examination of the regional prospects for the market; and
  • Unparalleled research of the competitive landscape of the market.


Regional Insights

North America to Retain Leading Position with Growing Activities in the Region’s Auto Industry

North America is slated to dominate the bio-lubricants market share during the forecast period due to the rising intensity of technological advancements in the region’s automotive industry. Top carmakers are constantly experimenting with different ecofriendly materials to increase the sustainability of their products and manufacturing operations. In 2019, the North America market size stood at USD 1,410.3 million.

Asia Pacific, which is rapidly emerging as the auto manufacturing hub of the world, is generating wide growth opportunities for market players. Governments in the region are creating favorable investment conditions to attract global automakers and are also framing policies to promote the adoption of sustainable materials for domestic vehicle manufacturers. Active encouragement to adopt bio-based lubricants and other materials through policy nudges is fueling the market for bio-lubricants in Europe.


Competitive Landscape

Strategic Investments in New Ventures to be a Prominent Feature of Market Competition

The competitive dynamics of this market are currently being shaped by the well-calculated investments by key players in initiating novel production ventures in distinct geographies. These ventures are aimed at capitalizing on the speedily evolving trend of utilizing bio-lubricants and other bio-based materials for industrial operations.


Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/bio-lubricants-market-104654


Key Industry Development:

August 2020: Novvi LLC announced the successful commencement of its plant in Deer Park, Texas, where it will be producing and marketing all of its renewable base oils for the lubricant industry. The company aims to advance its sustainable lubricant offering range and engage with local vendors to reduce their carbon footprint.


Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Emerging Trends
  • Key Insights
    • Key Emerging Trends – For Major Countries
    • Industry SWOT Analysis
    • Regulatory Analysis
    • Recent Industry Developments - Policies, Partnerships, New Application  Launches, and Mergers & Acquisitions
  • Qualitative Insights – Impact of COVID-19 on Global Bio-lubricants Market
    • Supply Chain Challenges
    • Steps taken by Government/Companies to overcome this impact
    • Potential opportunities due to COVID-19 outbreak
  • Global Bio-lubricants Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Size Estimates and Forecast 
      • By Application (Volume/Value)
        • Hydraulic Fluids
        • Metalworking Fluids
        • Chainsaw Oils
        • Mold Release Agents
        • Two-Cycle Engine Oils
        • Gear Oils
        • Greases
        • Others
      • By End-use Industry (Volume/Value)
        • Automotive and Other Transportation
        • Metalworking
        • Mining
        • Forestry
        • Marine
        • Engines
        • Others
      • By Region (Volume/Value)
        • North America
        • Europe
        • Asia Pacific
        • Latin America
        • Middle East & Africa

TOC Continued…!


Get your Customized Research Report:

https://www.fortunebusinessinsights.com/enquiry/customization/bio-lubricants-market-104654


Have a Look at Related Research Insights:

Flexible Film Market Size, Share & COVID-19 Impact Analysis, By Raw Material (Polypropylene {BOPP and CPP}, Polyester / BOPET {Thin Film and Thick Film}, and Others), Application (Packaging, Industrial, and Others), and Regional Forecast, 2020-2027

Wood Coating Market Size, Share & Covid-19 Impact Analysis, By Resins (Polyurethane, Nitrocellulose, Acid-curing, Polyester, and Others), By Formulating Technology (Solvent-borne, Water-borne, UV-cured, and Others), By Application (Furniture, Cabinets, Siding, Flooring, and Others), and Regional Forecast, 2020-2027

  

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. 

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.


Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune - 411045, Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Emailsales@fortunebusinessinsights.com


Read Press Release:

https://www.fortunebusinessinsights.com/press-release/global-bio-lubricants-market-10448


Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Photos copyright by Jay Graham Photographer
Copyright © 2010-2020 Sausalito.com & California Media Partners, LLC. All rights reserved.