The “Bio-lubricants Market” report forecast 2019-2024 is a professional and detailed study on the present state also focuses on the major drivers, Bio-lubricants business strategists and effective growth for the key players. Global Bio-lubricants Industry also provides granular analysis of the Bio-lubricants market dynamics, share, segmentation, revenue forecasts and facilitate better decision-making.
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The market for bio-lubricants is anticipated to register a CAGR of 4.25%, during the forecast period (2019-2024). Bio-based lubricants are eco-friendly, and do not have any toxic effect on the ecosystem.
– Bio-based lubricants do not cause skin inflammation, which is generally caused by petroleum-based lubricants. Additionally, they have various advantages, such as reduction in energy usage, reduction in labor cost, increased employee safety, improved environmental conditions, increased machine life, and increased production, thereby augmenting the growth of the market.
– Bio-lubricants are produced by esterification of a fatty acid or trans-esterification of vegetable oil. This process is being held with a long-chain alcohol in the presence of a homogeneous acid/base catalyst 8 -10, or by using an ion-exchange resin. This process increases the cost of bio-based lubricants, which is likely to hinder the market growth.
Bio-lubricants Market by Top Manufacturers:
Analysis and Key Opportunities of Bio-lubricants Market Report: Extensive analysis of the Global market, by component, helps in understanding the components of the Market that are currently used along with the variants that would gain prominence in the future. Bio-lubricants market report analyses the market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, and market demand and supply scenarios.
Key Market Trends
Increasing Demand from Power Generation
– Power generation is one of the most important sectors for the global economy, without which, almost all manufacturing operations may come to an end. Advancements in manufacturing technologies are resulting in the commencement of various new plants, which, in turn, are increasing the demand for electricity in various end-user industries.
– Turbines play a key role in the energy sector for generating electricity. Irrespective of the source of electricity, i.e., wind, solar, hydro, thermal, etc., turbines are widely used for power generation. In general, other than turbines, the major components in the power generation sector include pumps, bearings, fans, compressors, gears, and hydraulic systems. Wind turbines are subjected to many factors, such as humidity, high pressure, high loads, vibrations, and temperature. Gear and turbine oils are widely used in this sector for lubrication purposes.
– Many companies are already well aware that reducing the total cost of ownership (TCO) over the lifetime of machinery is the key to extracting the best possible value from the investment. However, the impact of lubrication on TCO is too often underestimated. In general, the cost of lubricants accounts for less than 5% of a power generation company’s total operational expenditure.
– According to an international industry study, commissioned by Shell Lubricants, the savings opportunity is recognized, but undervalued. About 58% of the companies recognized that lubricant selection can help reduce costs by 5% or more. However, fewer than one in 10 (8%) realized that the impact of lubrication could be up to six times greater.
– All the aforementioned factors are expected to drive the global market, during the forecast period.
Asia-Pacific to Dominate the Market
In Asia-Pacific, China is third-largest bio-lubricant consumer in the APAC region, with an economic growth of 6.9%, in 2017. With growing middle class, along with urbanization of Western China, there has been an increase in the demand and production of vehicles in the country. Additionally, the country’s focus to gradually shift toward electric vehicles is expected to hinder the country’s demand for bio-lubricants, such as engine oil, gear oil, etc.
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Some Major Point cover in this Bio-lubricants report are: –
What will the market growth rate, Overview and Analysis by Type of Bio-lubricants Market in 2024?
What are the key factors driving, Analysis by Applications and Countries Global Bio-lubricants industry?
What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Manufacturers Profiles of Bio-lubricants?
Who are Opportunities, Risk and Driving Force of Bio-lubricants Market? Knows Upstream Raw Materials Sourcing and Downstream Buyers
Who are the opportunities and threats faced by the Manufacturers in Bio-lubricants space? Business Overview by Type, Applications, Gross Margin and Market Share
What are the market opportunities, market risk and market overview of the Bio-lubricants Market?
No. of Pages: – 155
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Table of Contents included in Bio-lubricants Market Report –
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by end-user industry
PART 07: Market segmentation by application
PART 08: Geographical Segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
List of abbreviations
List of Exhibits
And Many More….
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