Global Bio-based Lubricants Market is Projected to Register a Healthy CAGR of 5.

Posted by nileshdbmr on October 10th, 2019

Global bio-based lubricants market is projected to register a healthy CAGR of 5.9% in the forecast period of 2019 to 2026.

Competitive Analysis: Global Bio-based Lubricants Market

Some of the major players operating in this market are Royal Dutch Shell, Green Earth Technologies, Inc., Magna International Pte Ltd., Polnox Corp., Klüber Lubrication, Castrol Limited, Exxon Mobil Corporation., MMXIX DSI Ventures, Inc., Chevron Corporation, BIOSYNTHETIC TECHNOLOGIES, BECHEM, CITGO Petroleum Corporation, ROCOL, RSC Bio Solutions and others.

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Bio-based Lubricants are very much essential in today’s world. Over the years, the science of lubricants and lubrication has advanced considerably. One of the technology named Eni Divisional R & D formulation was introduced for providing world’s leading lubricants for transport, protective and industrial purposes also supplying the needs for many customer segments including shipping, motorists and industrial users.

In past 2-3 years, the most advanced way of making the bio-based lubricants behave like petroleum based lubricants is to strip double bonds from molecules and add new elements or two molecules together to mimic the properties of petroleum lubricants.

Segmentation: Global Bio-based Lubricants Market

Global bio-based lubricants market is segmented into three notable segments which are raw material, application and end-user.

•          On the basis of raw material, the market is segmented into plant oil and animal oil. In 2019, plant oil segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.
•          On the basis of application, the market is segmented into hydraulic oil, metal working fluids, penetrating oils, grease, transformer oil and others.
•          On the basis of end-user, the market is segmented into consumer automotive, commercial automotive, industrial and others.

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Key insights in the report:

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