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Global $495 Mn Food Grade Lubricants Markets to 2027 - Increasing Demand for Bio-Based Food Grade Lubricants
Global Food Grade Lubricants Market
Dublin, June 10, 2022 (GLOBE NEWSWIRE) -- The "Food Grade Lubricants Market by base oil [Synthetic Oil, Mineral Oil, Bio-based], Application (Food, Beverages, Pharmaceuticals &Cosmetics), and Region (North America, Europe, Asia Pacific, MEA, South America) - Global Forecasts to 2027" report has been added to ResearchAndMarkets.com's offering.
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%
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.
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 fewer 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 are 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 forecast period.
Europe is estimated to be the 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.
Competitive landscape
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.
Market Dynamics
Drivers
Growing Applications in Food & Beverages Industry
Increasing Demand for Bio-Based Food Grade Lubricants
Stringent Food and Beverages Safety Regulations
Restraints
Lack of Proper Training and Product Awareness
Opportunities
Increasing Concerns Over Food Safety
Upcoming Regulations in Developing Countries
Challenges
Handling or Direct Contact of Lubricants with Food
Porter's Five Forces Analysis
Key Stakeholders & Buying Criteria
Key Stakeholders in Buying Process
Buying Criteria
Industry Trends
Supply Chain Analysis
Raw Materials
Food Grade Lubricants Blenders
Marketing & Distribution
End-Use Industries
Food Grade Lubricants Market: Realistic, Pessimistic, Optimistic, and Non-COVID-19 Scenarios
Non-COVID-19 Scenario
Optimistic Scenario
Pessimistic Scenario
Realistic Scenario
Pricing Analysis
Average Selling Prices by Key Players, by Application
Average Selling Price, by Region
Trends/Disruptions Impacting Customer's Business
Revenue Shifts & Revenue Pockets for Food Grade Lubricants Market
Connected Markets: Ecosystem
Technology Analysis
Automatic Lubrication Systems
Case Study Analysis
Case Study on Petro-Canada
Trade Data Statistics
Import Scenario of Food Grade Lubricants
Export Scenario of Food Grade Lubricants
Regulatory Landscape
Regulations for Food Grade Lubricants
Iso 21469 Certification
Iso 22000 Certification
Patent Analysis
Approach
Document Type
Jurisdiction Analysis
Top Applicants
Company Profiles
Major Players
ExxonMobil Corporation
Totalenergies Se
Fuchs Petrolub Ag
British Petroleum (Bp) plc
Chevron Corporation
The Dow Chemical
Illinois Tools Works Inc.
Svenska Kullagerfabriken (Skf)
Kluber Lubrication Munchen Se & Co. Kg
Jax Inc.
Petro-Canada Lubricants
Startup/SME Players
Matrix Specialty Lubricants Bv
Elba Lubrication Inc.
Huskey Specialty Lubricants
Clearco Products
Chemours Company
Ultrachem Premium Synthetic Lubricants Inc.
Royal Purple LLC
Calumet Specialty Products Partners, Lp
Haynes Manufacturing Co.
Southwestern Petroleum Lubricants LLC
D-A Lubricant Company
Clarion Lubricants
Engen Petroleum Limited
Brit-Lube Ltd.
Condat Group
For more information about this report visit https://www.researchandmarkets.com/r/gog1em
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