Asia-Pacific Bio-Based Lubricants Market – Industry Trends and Forecast to 2026
Asia-Pacific Bio-Based Lubricants Market By Raw Material (Plant Oil, Animal Oil and Others), Application (Hydraulic Oil, Metal Working Fluids, Penetrating Oils, Grease, Transformer Oil, Crankcase Oils, Engine Oils, Elevator Hydraulic Fluid, Bar and Chain Oil, Firearm Lubricants, Others), End-User (Consumer Automotive, Commercial Automotive, Industrial, Others), Country (Japan, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines and Rest of Asia-Pacific) – Industry Trends and Forecast to 2026
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.
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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.
One of the environmental advantages for such lubricants is the biodegradability of the exhaust and leakage and not their recyclability. Renewable bio-based lubricants are also known to decrease the friction coefficient between two surfaces.
Asia-Pacific Bio-based Lubricants market is projected to register a healthy CAGR of 6.5% in the forecast period of 2019 to 2026.
Segmentation: Asia-Pacific Bio-Based Lubricants Market
Asia-Pacific bio-based lubricants market is segmented into three notable segments which are raw material, application and end-user.
- plant oil, animal oil and others. In 2019, plant oil segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.
- In September 2017, Klüber Lubrication 2019 launched an innovative product NSF H1 lubricant for bearings operating under permanent high temperature. After this they have now succeeded in developing a new high-temperature grease for a wide range of applications in the food industry.
- On the basis of application, the market is segmented into hydraulic oil, metal working fluids, penetrating oils, grease, transformer oil and others. In 2019, hydraulic oil segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.
- In November 2018, Quaker Chemical Corporation 2019 attended an event which takes place at The Georgia World Congress Centre in Atlanta and offers comprehensive fluid products ranges for tube & pipe and metal working processes.
- On the basis of end-user, the market is segmented into consumer automotive, commercial automotive, industrial and others. In 2019, commercial automotive segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.
- In May2018, Polnox develop a new product named as Mcln Dual Function corrosion and Rust Inhibitors for the Lubricants which are acceptable to the environment.
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Competitive Analysis: Asia-Pacific 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.
Product Launch:
- In February 2019, Exxon Mobil announces two new discoveries offshore in Guyana at the Tilapia-1 and Haimara-1 wells in order to grow their market better.
- In January 2019, Exxon Mobil announced some plans for growth of some of its plants by streamlining upstream organization. The company focuses on end to end management.
- In September 2017, Klüber Lubrication 2019 launched an innovative product NSF H1 lubricant for bearings operating under permanent high temperature. After this they have now succeeded in developing a new high-temperature grease for a wide range of applications in the food industry.
- In November 2018, Quaker Chemical Corporation 2019 attended an event which takes place at The Georgia World Congress Centre in Atlanta and offers comprehensive fluid products ranges for tube & pipe and metal working processes.
Research Methodology: Asia-Pacific Bio-Based Lubricants Market
Primary Respondents: key industry participants, subject-matter experts (SMEs), C-level executives of key market players, Market Intelligence Managers, National Sales Managers and industry consultants.
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