LONDON--(EON: Enhanced Online News)--Technavio’s latest report on the global industrial lubricants market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
“Vendors are manufacturing biodegradable lubricants using biodegradable sources such as vegetable oil, that are close to 100% biodegradable. Vendors are focusing on bioaccumulation and eco-toxicity to reduce adverse impacts on the environment”
Thanikachalam Chandrasekaran, a lead analyst from Technavio, specializing in research on oil and gas sector, says, “A wide variety of grease and oil lubricants that are available in the market are being tailor-made to suit the exact requirements of each component that needs maintenance depending on specifications such as intervals and amount of lubrication.”
International legislations such as the US Food Safety Modernization Act (FSMA) and ISO 21469 focus on minimizing the presence of harmful substances in lubricants and increased inspection on hygiene factors associated with lubricants production for use in the food and beverage manufacturing process. This will have a global impact as it is also applicable to food producers that intend to ship their products to the US market. In addition, it will likely increase the demand for food-grade lubricants.
Request a sample report: http://www.technavio.com/request-a-sample?report=54872
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
The top three emerging trends driving the global industrial lubricants market according to Technavio energy research analysts are:
- Bio-based lubricants: eco-friendly source of fuel
- Emergence of food-grade lubricants
- Development of low viscosity lubricants for wind turbines
Bio-based lubricants: eco-friendly source of fuel
The development of environment-friendly lubricants due to the negative impact of petroleum-based lubricants on the environment is a significant trend in the global industrial lubricants market. Several tons of lubricants are washed off into the water streams due to leakages and careless disposal, thus leading to health related issues.
“Vendors are manufacturing biodegradable lubricants using biodegradable sources such as vegetable oil, that are close to 100% biodegradable. Vendors are focusing on bioaccumulation and eco-toxicity to reduce adverse impacts on the environment,” says Thanikachalam.
Emergence of food-grade lubricants
There have been dramatic improvements in lubricants and this has enabled them to last longer and improve machine efficiency; however, fundamentally, the physical characteristics haven’t changed and this is a cause of concern if it gets mixed in food products. The food industry uses an array of equipment such as conveyor systems, pumps, mixers, compressors, and oven chain drives and they need proper lubrication to ensure good performance.
Such instances have led to stringent regulation and safety standards like the voluntary standard ISO 21469 to be applied in the food industry. The ISO 21469 is mainly concerned with the protection of consumers from being affected by contaminations of lubricants. The standard covers the entire process of lubricant production from packaging and transportation; the entire facility is audited prior to certification.
Development of low viscosity lubricants for wind turbines
Wind turbine gear oil is the lubricant placed in the gearbox of a wind turbine to reduce friction between the moving components in the box. To convert the rotational speeds of 30-60 rpm to 1,500-1,800 rpm, massive gears are required. The bearings in the gearbox are expected to take extremely high loads. The operating requirements of a gearbox vary widely.
Governments worldwide are realizing the potential and long-term benefits of utilizing wind energy. Within renewable energy, hydropower has been the most utilized. However, the past few years have been marked by drastic weather changes in different parts of the world. Many countries have been struggling with ongoing droughts. This has made the governments to diversify their energy mix further. To help the wind energy industry grow, governments are setting up favorable policies to help establish and sustain wind power against cheaper alternatives.
The key vendors are as follows:
- Total Lubricants
Browse Related Reports:
- Global Automatic Lubrication System Market 2016-2020
- Global Marine Lubricants Market 2016-2020
- Global Lubricants Market 2015-2019
Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact email@example.com with your requirements and our analysts will be happy to create a customized report just for you.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.