The healthcare and food-processing industries demand a need for food-grade lubricants. The food-grade lubricants market is estimated to grow from $352 to $ 495 million by 2027 at the highest CAGR of 7.0%. Research aimed at enhancing the performance of recent bio-based lubricants will be key to meeting this need because of its numerous advantages over synthetic and mineral oil like high biodegradability, fewer emissions, high lubricity, high tool life, high viscosity index, lower volatility, and better skin compatibility. All these factors are responsible for driving the demand for bio-based food-grade lubricants globally.
The Food Grade Lubricant Market is divided into mineral oil, synthetic oil, and bio-based. Also, bio-based lubricants are formulated utilizing animal fat or vegetable oils with the addition of approved activities. Also, vegetable oils are attractive base oils for bio-based food-grade lubricants because they are mostly biodegradable and are made from edible feedstocks. Therefore, these factors lead to an increase in demand for bio-based food-grade lubricant during the predicated period.
The food-grade lubricant market also encompasses key players so as to clearly understand the competitive edge of the food-grade lubricant market. Some of the top players are TotalEnergies SE (France), ExxonMobil Corporation (US), FUCHS Petrolub AG (Germany), BP plc. (UK), The DOW Chemical Company (US), Petro-Canada Lubricants Inc. (Canada), Chevron Corporation (US), Kluber Lubrication Munchen SE & Co. KG (Germany), SKF (Sweden), and Illinois Tools Works Inc. (US) among others.
The Food grade lubricant market provides exclusive market aspects which is beneficial for businesses, new entrants, and key players. Also, the report includes market segmentation that provides a clear picture of the product consumption depending on the several factors that include but are not limited to application, types, deployment model, end-user, and geographic region. Moreover, the food-grade lubricant market report provides clients with the supreme level of market data and information which is specific to their niche and their business requirements.