Global Soybean Oil-Based Lubricant Market, By Product (Type I, Type II), Type (Epoxidation Method, Hydrogenated Method, Transesterification Method), Applications (Engine Oils, Metalworking Fluids, Process Oils, Hydraulic Fluids, Food Grade Lubricants, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Soybean Oil-Based Lubricant Market
The soybean oil-based lubricant market is expected to witness market growth at a rate of approximately 6.60% in the forecast period of 2021 to 2028 and is expected to reach USD 2.65 million by 2028. Data Bridge Market Research report on soybean oil-based lubricant market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rising environmental concerns towards reducing greenhouse emissions are escalating the growth of soybean oil-based lubricant market.
Soybean oil is utilized by manufacturers to produce various different products such as lubricants, plastic molded parts, foams, films, lubricants, composites and packaging among others that traditionally use a petroleum base. Soybean oil is still emerging in after several technological advancements and possesses definite potential to replace petroleum-based ingredients with those from soy. Soybean oil such as bio-based lubricants and industrial fluids are gaining popularity as they include motor and penetrating oils, hydraulic and transmission fluids to greases and fuel additives.
The increasing inclination towards crude oil as a raw material in the chemical industry and the high adoption of soybean oil-based lubricant as these lubricants are biodegradable with low toxicity and offer various properties including improved lubrication characteristics, high viscosity and low evaporation loss are the major factors driving the soybean oil-based lubricant market. The increasing application of these products in diesel and petrol engines on account of offering the aforementioned properties, the implementation of stringent environmental regulations in attempt to reduce greenhouse gas emissions and the rise in demand for nature-derived products including environmentally friendly hydraulic fluids from farms, forests and waterways accelerate the soybean oil-based lubricant market growth. The extensive use of soybean oil-based lubricants in lubrication of excavators, ground diggers and cranes for construction applications and utilization of soybean oil and methyl soyate as metalworking fluids such as cleaners, grinding fluids, cutting fluids and rust preventatives for offering properties including wear and tear protection, corrosion and excellent cooling influence the soybean oil-based lubricant market. Additionally, usage of process oils as raw materials or processing aids in chemical industries to manufacture numerous products including rubbers and plastics, increasing application of environment-friendly hydraulic fluids in agriculture, transportation, construction and manufacturing industries and development of new high oleic soybean varieties for providing properties such as superior heat and oxidation stability in high-speed engines and hydraulic fluids positively affect the soybean oil-based lubricant market. Furthermore, the rise in research and development activities to enhance their application, rising demand for bio-based process oils and increasing importance of safety standards such as HACCP and NSF in the food and beverage industry extend profitable opportunities to the soybean oil-based lubricant market players in the forecast period of 2021 to 2028.
On the other hand, high cost associated with the bio-based lubricants compared to chemical-based counterparts and availability of oilseeds and biomass as raw materials for the production of bio-based lubricants are factors expected to obstruct the soybean oil-based lubricant market growth. The rise in concerns regarding the predominant consumption of soy and its derivatives in the food and beverage industry is projected to challenge the soybean oil-based lubricant market in the forecast period of 2021 to 2028.
This soybean oil-based lubricant market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on soybean oil-based lubricant market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Soybean Oil-Based Lubricant Market Scope and Market Size
The soybean oil-based lubricant market is segmented on the basis of product, type and applications. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product, the soybean oil-based lubricant market is segmented into type I and type II.
- On the basis of type, the soybean oil-based lubricant market is segmented into epoxidation method, hydrogenated method, and transesterification method.
- On the basis of applications, the soybean oil-based lubricant market is segmented into engine oils, metalworking fluids, process oils, hydraulic fluids, food grade lubricants and others.
Global Soybean Oil-Based Lubricant Market Country Level Analysis
The soybean oil-based lubricant market is analyzed and market size, volume information is provided by country, product, type and applications as referenced above.
The countries covered in the globally soybean oil-based lubricant market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the soybean oil-based lubricant market due to the implementation of stringent regulations related to the use of plant-based oil lubricants and favorable policies for encouraging plant-based oil lubricants in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Soybean Oil-Based Lubricant Market Share Analysis
The soybean oil-based lubricant market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to soybean oil-based lubricant market.
The major players covered in the soybean oil-based lubricant market report are ADM, Cargill, Incorporated, Gemtek Technology Co., Ltd., BioBlend Renewable Resources, LLC, CHS INC, Cortec Corporation, Renewable Lubricants, Elevance Renewable Sciences, Plews, Inc., Environmental Lubricants Manufacturing, Inc., Biosynthetic Technologies, ChemPoint, Linnaeus Plant Sciences, Bayer AG, Pioneer, Arkema, Dow, ADEKA CORPORATION among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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