Agricultural Lubricants Market to Reach Value of USD 4.28 Billion by 2027 | Emergen Research

Agricultural Lubricants Market to Reach Value of USD 4

Vancouver, British Columbia, Jan. 07, 2021 (GLOBE NEWSWIRE) — The global Agricultural Lubricants market is projected to reach a value of USD 4.28 Billion by 2027, according to a current analysis by Emergen Research. This growth of the market can be attributed to increased research and development activities to produce enhanced and effective bio-based agricultural lubricants per the stringent environmental standards. The long fluid lifetime and biodegradability of bio-based agricultural lubricants are driving the demand for the products.Strict regulations regarding ecological degradation and a rising need to protect the environment from accidental oil spills have increased the utilization of bio-based agricultural lubricants. Superior lubricity, higher viscosity index, and higher flashpoint of bio-based agricultural lubricants compared to mineral oil have driven their demand in the agriculture sector. The vegetable oils used as bio-based agricultural lubricants have high pour points, and they lack oxidative stability, which is predicted to hinder the market during the projected period.Get your FREE Sample Copy with TOC of the Report to understand the structure of the complete report@ for improving production efficiency and increasing farm productivity are expected to offer lucrative opportunities for manufacturers of agricultural lubricants in the next few years. The declining agrarian workforce has resulted in rising labor wages, which has driven agricultural lubricants’ demand to protect the machines from harsh conditions. Extended durability and enhanced efficiency of agricultural lubricants have increased their adoption in the agriculture sector.Key Highlights of ReportExxonMobil Corporation, in August 2020, signed a contract with Global Clean Energy Holdings. It states that, for five years, ExxonMobil Corporation is expected to purchase renewable diesel in an annual quantity of 2.5 million barrels. The renewable diesel should be purchased from a converted refinery in California from 2022. The engines segment held the largest market share of 45.3% in 2019. Rising need to maintain the engine’s cleanliness to ensure freedom of movement of engine parts and attain protection from corrosion has increased the usage of lubricants in tractors and harvesters.The bio-based agricultural lubricants segment is anticipated to expand at a notable CAGR of 6.4% during the estimated period. Vegetable oils are less toxic to the environment and reduce the dependency on imported petroleum oils, which is contributing to their increased use as agricultural lubricants.The Asia Pacific market is estimated to expand at the most rapid rate during the projected timeframe. Governments of countries in the region are providing financial aid to farmers in order to increase their adoption of advanced agricultural machinery, which is expected to offer lucrative opportunities for manufacturers of agricultural lubricants in the region.Key market participants include Royal Dutch Shell, Total SE, ExxonMobil Corporation, Chevron Corporation, BP, Phillips 66, Fuchs Petrolub, Schaeffer Oil, Repsol, and Exol Lubricants Limited. ORDER NOW (Customized Report Delivered as per Your Specific Requirement)@ Research has segmented the global agricultural lubricants market on the basis of application, type, and region:  Application Outlook (Revenue, USD Billion; 2017–2027)GreasingEnginesHydraulicsImplementsGears & TransmissionType Outlook (Revenue, USD Billion; 2017–2027)Bio-basedMineral OilSynthetic        Click on the link to read key highlights of the report and look at projected trends for years to come: Outlook (Revenue, USD Billion; 2017–2027)North AmericaU.S.CanadaEuropeGermanyU.K.FranceBENELUXRest of EuropeAsia PacificChinaJapanSouth KoreaRest of APACLatin AmericaBrazilRest of LATAMMiddle East & AfricaSaudi ArabiaUAERest of MEATake a Look at our Related Reports:Spherical graphite market size was valued at USD 2,435.8 Million in 2019 and is forecasted to reach USD 9,598.8 Million by 2027 at a CAGR of 18.6%. The spherical graphite market is observing a double-digit growth attributed to its increasing usage in lithium-ion battery production.Sodium dichromate market size was valued at USD 759.2 Million in 2019 and is forecasted to reach USD 1,242.4 Million by 2027 at a CAGR of 6.3%. The sodium dichromate market is observing high demand attributed to its increasing application in pigment, metal finishing, chromium compounds preparation, leather tanning, and wood preservative.Acoustic insulation market size was valued at USD 12.94 Billion in 2019 and is forecasted to reach USD 19.64 Billion by 2027 at a CAGR of 5.3%. The acoustic insulation market is observing high demand attributed to its increasing application in building & construction, automotive, aerospace, and manufacturing.About Emergen ResearchEmergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.Contact Us:Eric LeeCorporate Sales SpecialistEmergen Research | Web: www.emergenresearch.comDirect Line: +1 (604) 757-9756E-mail: sales@emergenresearch.comFacebook | LinkedIn | Twitter | BlogsRead Full Press Release@

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