Bio lubricants are the substances which are used for lubrication, these substances are originated from Vegetable oils such as sunflower, coconut and soybean etc. Bio lubricants are generally used for lubrication of machines which loses oils directly into environment. Bio lubricants produce a cleaner and less toxic environment for the people who interact with that machinery. These lubricants cost less than other lubricants thus helping in cost optimization.
Bio lubricants Market is experiencing a high demand for biodegradable and less toxic lubricants which helps in cost optimization and maintaining a clean environment for the user. Cost optimization, longer machine life and clean user environment are the major factors driving this market whereas lack of adoption is the major restraining factor.
Also, key Bio lubricants market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products, and services offered, financial information for the last 3 years, key development in the past five years. Some of the key players influencing the market are
Fuchs, Royal Dutch Shell PLC, Panolin AG, Exxonmobil Corporation, Renewable Lubricants, Quaker Chemical Corporation, Advonex International Corporation, Kluber Lubrication, Emery Oleochemicals, and Total among others.