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Bio-Lubricants Market and its key opportunities and challenges

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Bio-Lubricants Market and its key opportunities and challenges

October 20
18:36 2019
Bio-Lubricants Market and its key opportunities and challenges

Browse 212 market data Tables and 60 Figures spread through 207 Pages and in-depth TOC on “Bio-Lubricant Market”
Bio-Lubricants Market by Base Oil Type (Vegetable Oil, Animal Fat), Application (Hydraulic Fluids, Metalworking Fluids, Chainsaw Oils, Mold Release Agents), End Use (Industrial, Commercial Transport, Consumer Automobile)

The global Bio-Lubricants Market size was valued at USD 2.33 Billion in 2016 and is projected to reach USD 3.36 Billion by 2022, at a CAGR of 6.4% during the forecast period, as per a report by MarketsandMarkets. 

Downloads PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=17431466

Browse 212 market data Tables and 60 Figures spread through 207 Pages and in-depth TOC on “Bio-Lubricant Market”

How emerging applications of bio-lubricants presents more opportunities?

Emerging applications such as transformer oil and two- and four-cycle engine oils are expected to provide enormous opportunities in the future. This will be made possible with the development of antioxidants and additives to improve performance.

The transformer dielectric fluid is eco-friendly and enhances the performance and life of transformer parts. It increases the life of paper insulation by five-to-eight times, which minimizes the life cycle cost. The fluid also provides high resistance to fire due to a high ignition fire point. Building new power stations or upgrading existing ones due to the increasing demand for electricity will create more opportunities for bio-lubricants in transformer oil. Currently, the application of bio-lubricants as engine oil is very low. The efforts to find alternative vegetable oils and antioxidants to decrease the prices of bio-lubricants for engine oils and reduce the performance issues such as poor oxidative stability and pour point are expected to boost the demand for bio-lubricants in the automotive & transportation industry.

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Why uncertain crude oil prices remain a challenge?

The price of bio-lubricants is already much higher than that of mineral-oil-based products. The declining prices of crude oil can restrict the market growth. Crude oil prices are expected to remain below USD 100 per barrel until 2020. Therefore, decreasing crude oil prices will act as a challenge to the bio-lubricants market growth in the future. The countries with weak environmental regulations will continue to use mineral oil-based lubricants due to their lower costs. If the crude oil prices increase, the bio-lubricants manufacturers have to strategize themselves to deal with it.

Related Reports:

Specialties of Lube Oil Refinery Market by Type (Fully Refined Wax, Semi Refined wax, Rubber Process Oil, White Oil, Petrolatum , and Others), and Region (APAC, Europe, North America, South America, Middle East & Africa) Global Forecast to 2023

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Website: https://www.marketsandmarkets.com/Market-Reports/biolubricants-market-17431466.html

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