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The food grade lubricants market is estimated to grow to USD 495 million by 2027 from USD 352 million in 2022, at a CAGR of 7.0%

·3-min read
ReportLinker
ReportLinker

There are many environmental issues related to synthetic and mineral oil-based food grade lubricants. The healthcare and food-processing industries demand a need for food grade lubricants that are less toxic and biodegradable.

New York, May 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Food Grade Lubricants Market by base oil, Application And Region - Global Forecasts to 2027" - https://www.reportlinker.com/p04120477/?utm_source=GNW
Research aimed at enhancing the performance of current bio-based lubricants will be key to meeting this need because of its numerous advantages over synthetic and mineral oils such as high boiling point means less emissions, high biodegradability, high lubricity, high shear stability, high tool life, high viscosity index, lower volatility, and better skin compatibility. All these factors drive the demand for bio-based food grade lubricants globally.

Bio-based food grade lubricants is expected to be the second-fastest growing base oil , in terms of value, between 2022 and 2027, in the global food grade lubricants market
By base oil, the food grade lubricants market is segmented into synthetic oil, mineral oil and bio-based.Bio-based lubricants are formulated using vegetable oils or animal fat with the addition of approved additives.

There has recently been a shift in research toward improving bio-based food grade lubricants that use base oils made from biodegradable feedstocks.Vegetable oils are attractive base oils for bio-based food grade lubricants because they are mostly biodegradable and are made from edible feedstocks.

These factors lead to a higher demand for bio-based food grade lubricants, during the fiorecast period.

Europe is estimated to be second-largest food grade lubricants market, in terms of value, in 2021
Europe was the second-largest market for food grade lubricants in terms of value in 2021.This is mainly attributed to the increasing concern over food safety and the rapid growth of the food processing industry in the region.

The need to reduce the contamination of food is the primary reason for the adoption of food grade lubricants.
• By Company Type: Tier 1 - 46%, Tier 2 - 31%, and Tier 3 - 23%
• By Designation: C-Level - 46%, Director Level - 27%, and Others - 27%
• By Region: North America - 33%, Europe - 27%, APAC - 27%, South America - 7%, Middle East & Africa - 6%,

The key players profiled in the report include ExxonMobil Corporation (US), TotalEnergies SE (France), FUCHS Petrolub AG (Germany), BP plc. (UK), Petro-Canada Lubricants Inc. (Canada), Chevron Corporation (US), The DOW Chemical Company (US), Kluber Lubrication Munchen SE & Co. KG (Germany), SKF (Sweden) and Illinois Tools Works Inc. (US) among others.

Research Coverage
This report segments the market for food grade lubricants is based on base oil, application, and region, and provides estimations for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, associated with the market for food grade lubricants.

Reasons to Buy this Report
This research report is focused on various levels of analysis — industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the construction lubricants market; high-growth regions; and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on food grade lubricants offered by top players in the global market
• Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for food grade lubricants across regions
• Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global food grade lubricants market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the food grade lubricants market
Read the full report: https://www.reportlinker.com/p04120477/?utm_source=GNW

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