Global Bio-lubricants Market: Overview:
Bio-lubricants are biodegradable products substantially composed of certain biological products, agricultural materials or forestry materials. They are non-toxic to humans and aquatic environments. Bio-lubricants are mainly prepared from mono-unsaturated fatty acids. They are successfully used as concrete release agents across the globe.
However, high dependency on vegetable and animal oils for production of bio-lubricants is a major factor restraining growth of the global bio-lubricants market. Additionally, high costs associated with procurement and use of machinery for bio-lubricants production is another major factor expected to hamper growth of the global market over the forecast period.
Global Bio-lubricants Market: Growth Factors:
Rising demand for advanced bio-lubricants that can maintain constant viscosity even at high temperatures from various end use industries coupled with stringent government and environmental regulations are major factors driving growth of the global bio-lubricants market. In addition, increasing application of bio-lubricants and increasing investment by private players into development of advanced bio-lubricants are other major factors anticipated to boost growth of the global bio-lubricants market over the forecast period.
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Global Bio-lubricants Market: Segmentation:
Mold Release Agents
Two-cycle Engine Oils
By End User:
Global Bio-lubricants Market: Regional Analysis:
The market in North America dominates the global bio-lubricants market in revenue terms owing to stringent government regulations limiting use of certain lubricants coupled with rising demand for use of renewable lubricants in defense equipment in the region. The market in Europe accounted for second-highest revenue share in the global bio-lubricants market, due to growing demand for bio-lubricants from the automotive industry in the region, followed by markets in Asia Pacific, Latin America, and Middle East & Africa respectively. The market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to increasing presence of automotive manufacturers and increasing use of bio-lubricants in various automobiles in countries in the region.
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Global Bio-lubricants Market: Regional Segment Analysis:
Middle East & Africa
What Report Provides:
Full in-depth analysis of the parent market
Important changes in market dynamics
Segmentation details of the market
Assessment of niche business developments
Market share analysis
Key ways of major players
Emerging segments and regional markets