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Press Release

Biolubricants Market - Analysis, Technologies & Forecasts to 2024 - Expected to Reach $2.92 Billion - Research and Markets

Research and Markets
Posted on: 21 Oct 16

Research and Markets has announced the addition of the "Biolubricants Market Analysis By Raw Material, By Application , By End-Use - Segment Forecasts To 2024" report to their offering.

The global biolubricants market is expected to reach USD 2.92 billion by 2024.

Increasing passenger car sales in emerging economies is one of the major drivers of industry expansion in recent years. The favorable regulatory framework is expected to encourage the production & consumption of bio-based lubricants over the forecast period. The U.S. EPA has implemented regulations that require all marine vessels to obtain the mandatory Vessel General Permit (VGP) for plying in the U.S. waters & also utilize environment-friendly, acceptable lubricants in all oil-to-sea interfaces.

Further key findings from the report suggest:

  • The global biolubricants market demand was estimated at over 630 kilo tons in 2015 and is expected to reach 1,115 kilo tons by 2024, growing at 6.9% CAGR from 2016 to 2024
  • Increasing cost competitiveness of advanced biolubricants, specifically on account of high crude oil prices in the future, is a significant factor driving their demand in automotive applications
  • North America was the largest consumer and generated revenue worth USD 742.5 million in 2015. The region is technologically mature compared to others such as Asia Pacific, Latin America, and the Middle East.
  • Regulations have played a huge role in shaping the consumer base for bio-based products in the U.S. Currently, the U.S. accounts for nearly 80% of the North American market in terms of volume.

Companies Mentioned:

  • Total S.A.
  • ExxonMobil
  • Royal Dutch shell
  • Binol Biolubricants
  • Castrol
  • Petronas Lubricant International
  • Kluber Lubrication
  • Emery Oleochemicals
  • Solution Biogen Sdn Bhd
  • Chevron Corp
  • Albemarle Corp

Key Topics Covered:

1 Methodology and Scope

2 Executive Summary

3 Market Variables, Trends & Scope

4 Market Categorization 1: Raw Material Estimates & Trend Analysis

5 Market Categorization 2: Application Estimates & Trend Analysis

6 Market Categorization 3: End-Use Estimates & Trend Analysis

7 Market Categorization 4: Regional Estimates & Trend Analysis

8 Company Profiles

For more information about this report visit http://www.researchandmarkets.com/research/254t7k/biolubricants

View source version on businesswire.com: http://www.businesswire.com/news/home/20161021005301/en/

Business Wire
www.businesswire.com

Last updated on: 21/10/2016

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