Published Date : May 15, 2017
Albany, New York, May 15, 2017: MarketResearchReports.biz has announced the addition of a report, titled “EMEA (Europe, Middle East, and Africa) Bio-Based Lubricants Market Report 2017,” to its depository. The report provides a detailed reports of all the important aspects and serves as a reliable source of information regarding the bio-based lubricants market in EMEA. The data has been provided for the period between 2017 and 2022, keeping 2016 as the base year.
The demand for bio-based lubricants in EMEA is following a notable growth trajectory, thanks to stringent government regulations. The rising awareness regarding the benefits of bio-based lubricants is augmenting the market. These lubricants offer advantages over synthetic and mineral oil based lubricants in terms of performance. These lubricants are less toxic, environment-friendly, and highly biodegradable in nature and therefore, they do not give a way to environmental concerns. However, the high cost of production of bio-based lubricants is restricting the EMEA market from realizing its utmost potential. On the other hand, the increasing industrialization and urbanization, especially in emerging countries, is opening new avenues for market players.
Based on product, the EMEA bio-based lubricants market is bifurcated into vegetable oils and animal oils. Each segment is analyzed on the basis of revenue, sales volume, market shares, product price, and growth rates. The demand for vegetable oils is likely to remain strong throughout the forecast period. The growth of the segment can be attributed to the favorable government policies, which includes providing incentives to encourage companies for using vegetable oils as base oils for manufacturing lubricants. Due to the natural abundance and excellent lubricating properties of vegetable oils, they are being increasingly used in engine oils, petroleum fuel additives, hydraulic fluids, and metalworking fluids.
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On the basis of end-user industries, the market is divided into automotive, aviation, industrial, and marine. Each segment is reviewed based on market share, growth rate, and sales volume. The constant need to prevent wearing and tearing of metal parts and subsequently boost the life of machinery is promoting the uptake of bio-based lubricants across these industries. However, the market is likely to witness higher demands from the industrial and automotive sectors.
In terms of geography, the market is broadly classified into Europe, Africa, and the Middle East. Europe is expected to account for a large chunk in the revenue pie of the market in EMEA. Stringent government regulations pertaining to the use of traditional lubricants and continuous research and development activities are translating into the greater uptake of bio-based lubricants in the region. Germany is anticipated to be at the forefront of growth.
Some of the prominent players operating in the EMEA bio-based lubricants market are ConocoPhilips, Fuchs Lubricants, DMS, SINOPEC, BP, BioBlend Renewable Resources, Royal Dutch Shell, Environmental Lubricants Manufacturing Inc., Total, Panolin, Houghton International, Exxon Mobil, Cargill, Chevron, and Renewable Lubricants. Each of these players is profiled in the report along with their price and revenue structure, market share, and sales volume.
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