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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