HOME Top Market Reports Food Grade Lubricants Market by Base Oil (Mineral, Synthetic (PAO and PAG), and Bio-Based), Application (Food (Bakery, Sugar, Dairy, Meat Poultry, and Sea Food), Beverages, Pharmaceuticals & Cosmetics) - Global Forecast to 2021

Food Grade Lubricants Market by Base Oil (Mineral, Synthetic (PAO and PAG), and Bio-Based), Application (Food (Bakery, Sugar, Dairy, Meat Poultry, and Sea Food), Beverages, Pharmaceuticals & Cosmetics) - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: August 2016
Report Code: CH 3522

 

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The market size of food grade lubricants was 43.69 kilotons in 2015 and is projected to reach 64.45 kiloton by 2021, registering a CAGR of 6.7% between 2016 and 2021. In terms of value, the market for food grade lubricants is projected to grow at 7.0% from USD 182.8 Million in 2016 to USD 256.5 Million by 2021. In this report, 2015 is considered as the base year and the forecast period is between 2016 and 2021.

The Objectives of this study are:

  • To define, describe, and analyze the global food grade lubricants market by base oil, application, and region
  • To forecast and analyze the market size (in terms of value and volume) and different submarkets by five regions Asia-Pacific, Europe, North America, the Middle East & Africa, and South America
  • To forecast and analyze the market at the country level for each region
  • To strategically analyze each submarket with respect to individual growth trend and its contribution to the global food grade lubricants market
  • To analyze opportunities in the market for the stakeholders by identifying high-growth segments of the food grade lubricants market
  • To identify significant market trends and factors driving or inhibiting growth of the market and its submarkets
  • To analyze competitive developments, such as expansions, joint ventures, new products launches, and acquisitions, in the food grade lubricants market
  • To strategically profile the key market players and comprehensively analyze their growth strategies

This research study involves the extensive use of secondary sources, directories, and databases (such as Hoovers, Bloomberg BusinessWeek, and Factiva) to identify and collect information useful for this technical, market-oriented, and commercial study of the food grade lubricants market. The primary sources mainly include several industry experts from core and related industries and preferred suppliers, manufacturers, distributors, service providers, and organizations related to all segments of the industry’s supply chain. After arriving at the overall market size, the total market has been split into several segments and sub-segments. The figure below illustrates the breakdown of the primary interviews based on company type, designation, and region conducted during the research study:

Food Grade Lubricants Market

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The food grade lubricants value chain includes raw material manufacturers such as Exxon Mobil Corporation (U.S.), BP PLC (U.K.), Royal Dutch Shell Plc. (Netherlands), and Total S.A. (France) among others. These are the vertically integrated companies and produce raw materials along with the final products. Other manufacturers include Fuchs Petrolub SE (Germany), Kluber Lubrication Munchen SE & Co. KG (Germany), and Petro-Canada Lubricants Inc. (Canada). Further, the products manufactured by these companies are used by the food, beverages, pharmaceuticals, and cosmetics companies such as Pepsico Inc. (U.S.), Nestle (U.S.), Coca Cola Co. (U.S.), and JBS USA (U.S.) among others

The Target Audiences for the food grade lubricants market report are as follows:

  • Food grade lubricants manufacturers
  • Food grade lubricants suppliers
  • Raw material suppliers
  • Service providers
  • End users such as food, beverages, pharmaceuticals, cosmetics, and others
  • Government bodies

Scope of the Report

This report categorizes the global market of food grade lubricants on the basis of base oil, application, and region.

Food grade lubricants market, by Base Oil:

The food grade lubricants market has been segmented on the basis of base oil:

  • Mineral oil
  • Synthetic oil
    • PAO (Polyalphaolephins)
    • PAG (Polyalkylene Glycol)
    • Others (esters and silicones)

Food grade lubricants market, by Application:

The food grade lubricants market has been segmented on the basis of application:

  • Food
    • Bakery
    • Sugar
    • Dairy
    • Meat, poultry, and sea food
    • Others (animal feed, confectionery food, and breakfast food)
  • Beverages
  • Pharmaceuticals & cosmetics
  • Others (packaging, food grade lubricants blending, and food machinery manufacturing)

Food grade lubricants market, by Region:

The food grade lubricants market has been segmented on the basis of region:

  • Asia-Pacific
  • North America
  • Europe
  • Middle East & Africa
  • South America

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options (not limited to) are available for the report:

Regional Analysis       

  • Further breakdown of a region with respect to a particular country, additional application, and/or type

Country Information

  • Additional country information (up to 3)

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Food Grade Lubricants: Market Segmentation
           1.3.2 Years Considered for the Report
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 28)
    4.1 Significant Opportunities in the Food Grade Lubricants Market
    4.2 Food Grade Lubricants Market, By Region, 2016–2021
    4.3 Food Grade Lubricants Market in Europe, By Base Oil and Country
    4.4 Food Grade Lubricants Market Attractiveness
    4.5 Food Grade Lubricants Market Share, By Application and Region, 2015

5 Market Overview (Page No. - 33)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Base Oil
           5.2.2 By Application
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Stringent Food Safety Regulations
                    5.3.1.2 Growth of Processed Food Market
           5.3.2 Restraints
                    5.3.2.1 Lack of Proper Training and Awareness
           5.3.3 Opportunities
                    5.3.3.1 Increasing Concern Over Food Safety
                    5.3.3.2 Upcoming Regulations in Developing Countries

6 Industry Trends (Page No. - 39)
    6.1 Introduction
    6.2 Value Chain Analysis
           6.2.1 Raw Materials
           6.2.2 Food Grade Lubricant Blenders
           6.2.3 Marketing & Distribution
           6.2.4 End-Use Industries
    6.3 List of Some Major Customers
    6.4 Porter’s Five Forces Analysis
           6.4.1 Threat of New Entrants
           6.4.2 Threat of Substitutes
           6.4.3 Bargaining Power of Suppliers
           6.4.4 Bargaining Power of Buyers
           6.4.5 Intensity of Competitive Rivalry

7 Food Grade Lubricants Market, By Base Oil (Page No. - 44)
    7.1 Introduction
    7.2 Market Size Estimation
    7.3 Revenue Pocket Matrix
           7.3.1 Base Oil Matrix
    7.4 Mineral Oil
           7.4.1 Easy Availability and Low Cost Drives the Demand for Mineral Food Grade Lubricants
    7.5 Synthetic Oil
           7.5.1 Increased Industrial Production to Drive the Demand
           7.5.2 Polyalphaolefins (PAO)
           7.5.3 Polyalkylene Glycol (PAG)
           7.5.4 Others
    7.6 Bio-Based Oil
           7.6.1 Adoption of Eco-Friendly Chemicals in Food & Beverages Industry to Drive the Demand for Bio-Based Food Grade Lubricants

8 Food Grade Lubricants Market, By Application (Page No. - 56)
    8.1 Introduction
    8.2 Application Revenue Pocket Matrix
           8.2.1 Application Matrix
    8.3 Food
           8.3.1 Stringent Regulations Driving the Food Grade Lubricants Market in Europe
           8.3.2 Bakery
           8.3.3 Sugar
           8.3.4 Dairy
           8.3.5 Meat, Poultry & Seafood
           8.3.6 Others
    8.4 Beverages
           8.4.1 Rising Demand for Beverages Leading to Increased Consumption of Food Grade Lubricants
    8.5 Pharmaceuticals & Cosmetics
           8.5.1 Growing Pharmaceuticals & Cosmetics Industry Fueling the Growth of the Market
    8.6 Others
           8.6.1 Growth of Packaging Industry to Drive the Food Grade Lubricants Market

9 Food Grade Lubricants Market, By Region (Page No. - 70)
    9.1 Introduction
    9.2 Europe
           9.2.1 Germany
           9.2.2 France
           9.2.3 Spain
           9.2.4 U.K.
           9.2.5 Italy
           9.2.6 Netherlands
           9.2.7 Scandinavia
    9.3 North America
           9.3.1 U.S.
           9.3.2 Canada
           9.3.3 Mexico
    9.4 Asia-Pacific
           9.4.1 Australia & New Zealand
           9.4.2 Japan
           9.4.3 China
           9.4.4 South Korea
           9.4.5 India
    9.5 Middle East & Africa
           9.5.1 Saudi Arabia
           9.5.2 UAE
           9.5.3 Israel
           9.5.4 South Africa
    9.6 South America
           9.6.1 Brazil
           9.6.2 Argentina
           9.6.3 Chile

10 Competitive Landscape (Page No. - 114)
     10.1 Overview
     10.2 Market Share of Key Players
             10.2.1 Fuchs Petrolub SE
             10.2.2 BP PLC
             10.2.3 Total S.A.
     10.3 Competitive Situations and Trends
             10.3.1 New Product Launches
             10.3.2 Contracts & Agreements
             10.3.3 Expansions
             10.3.4 Mergers & Acquisitions
             10.3.5 Partnerships

11 Company Profiles (Page No. - 121)
(Overview, Financial*, Products & Services, Strategy, and Developments)
     11.1 Fuchs Petrolub SE
     11.2 Illinois Tool Works Inc.
     11.3 Kluber Lubrication Munchen SE & Co. Kg
     11.4 Petro-Canada Lubricants Inc.
     11.5 Total S.A.
     11.6 AB SKF
     11.7 BP PLC
     11.8 Chemtura Corporation
     11.9 Exxon Mobil Corporation
     11.10 Jax Inc.
*Details Might Not Be Captured in Case of Unlisted Companies
     11.11 List of Additional Companies and Their Products
             11.11.1 Matrix Specialty Lubricants (Netherlands)
             11.11.2 Elba Lubrication Inc. (U.S.)
             11.11.3 Huskey Specialty Lubricants (U.S.)
             11.11.4 Clearco Products Co, Inc. (U.S.)
             11.11.5 The Chemrous Company (U.S.)
             11.11.6 Ultrachem Inc. (U.S.)
             11.11.7 Royal Purple LLC (U.S.)
             11.11.8 Lubricating Specialties Company (U.S.)
             11.11.9 Bel-Ray Company LLC (U.S.)
             11.11.10 Haynes Manufacturing Company (U.S.)
             11.11.11 Southwestern Petroleum Corporation (Swepco) (U.S.)
             11.11.12 The Dow Chemical Company (U.S.)
             11.11.13 D-A Lubricant Company, Inc. (U.S.)
             11.11.14 The Clarion Lubricants (U.S.)
             11.11.15 The Lubrizol Corporation (U.S.)

12 Appendix (Page No. - 162)
     12.1 Insights From Industry Experts
     12.2 Discussion Guide
     12.3 Introducing RT: Real Time Market Intelligence
     12.4 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.5 Available Customizations
     12.6 Related Reports


List of Tables (83 Tables)

Table 1 Food Grade Lubricants Market, By Base Oil
Table 2 Food Grade Lubricants Market, By Application
Table 3 Lubricant Certification Categories
Table 4 Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 5 Mineral Oil Based Food Grade Lubricants Market Size, By Region, 2014–2021 (Ton)
Table 6 Synthetic Food Grade Lubricants Market Size, By Region, 2014–2021 (Ton)
Table 7 Bio-Based Food Grade Lubricants Market Size, By Region, 2014–2021 (Ton)
Table 8 Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 9 Food Grade Lubricants Market Size in Food Application, By Region, 2014–2021 (USD Million)
Table 10 Food Grade Lubricants Market Size in Beverages Application, By Region, 2014–2021 (Ton)
Table 11 Food Grade Lubricants Market Size in Pharmaceuticals & Cosmetics Application, By Region, 2014–2021 (USD Million)
Table 12 Food Grade Lubricants Market Size in Others Application, By Region, 2014–2021 (USD Million)
Table 13 Food Grade Lubricants Market Size, By Region, 2014–2021 (USD Million)
Table 14 Food Grade Lubricants Market Size, By Region, 2014–2021 (Ton)
Table 15 Europe: Food Grade Lubricants Market Size, By Country, 2014–2021 (USD Million)
Table 16 Europe: Food Grade Lubricants Market Size, By Country, 2014–2021 (Ton)
Table 17 Europe: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 18 Europe: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 19 Germany: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 20 Germany: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 21 France: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 22 France: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 23 Spain: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 24 Spain: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 25 U.K.: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 26 U.K.: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 27 Italy: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 28 Italy: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 29 Netherlands: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 30 Netherlands: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 31 Scandinavia: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 32 Scandinavia: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 33 North America: Food Grade Lubricants Market Size, By Country, 2014–2021 (USD Million)
Table 34 North America: Food Grade Lubricants Market Size, By Country, 2014–2021 (Ton)
Table 35 North America: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 36 North America: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 37 U.S.: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 38 U.S.: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 39 Canada: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 40 Canada: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 41 Mexico: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 42 Mexico: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 43 Asia-Pacific: Food Grade Lubricants Market Size, By Country, 2014–2021 (USD Million)
Table 44 Asia-Pacific: Food Grade Lubricants Market Size, By Country, 2014–2021 (Ton)
Table 45 Asia-Pacific: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 46 Asia-Pacific: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 47 Australia & New Zealand: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 48 Australia & New Zealand: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 49 Japan: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 50 Japan: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 51 China: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 52 China: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 53 South Korea: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 54 South Korea: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 55 India: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 56 India: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 57 Middle East & Africa: Food Grade Lubricants Market Size, By Country, 2014–2021 (USD Million)
Table 58 Middle East & Africa: Food Grade Lubricants Market Size, By Country, 2014–2021 (Ton)
Table 59 Middle East & Africa: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 60 Middle East & Africa: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 61 Saudi Arabia: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 62 Saudi Arabia: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 63 UAE: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 64 UAE: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 65 Israel: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 66 Israel: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 67 South Africa: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 68 South Africa: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 69 South America: Food Grade Lubricants Market Size, By Country, 2014–2021 (USD Million)
Table 70 South America: Food Grade Lubricants Market Size, By Country, 2014–2021 (Ton)
Table 71 South America: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 72 South America: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 73 Brazil: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 74 Brazil: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 75 Argentina: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 76 Argentina: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 77 Chile: Food Grade Lubricants Market Size, By Base Oil, 2014–2021 (Ton)
Table 78 Chile: Food Grade Lubricants Market Size, By Application, 2014–2021 (Ton)
Table 79 New Product Launches, 2011–2016
Table 80 Contracts & Agreements, 2012–2016
Table 81 Expansions, 2011–2016
Table 82 Mergers & Acquisitions, 2011–2016
Table 83 Partnerships, 2011–2016


List of Figures (53 Figures)

Figure 1 Food Grade Lubricants Market: Research Design
Figure 2 Breakdown of Primary Interviews
Figure 3 Market Size Estimation: Bottom-Up Approach
Figure 4 Market Size Estimation: Top-Down Approach
Figure 5 Food Grade Lubricant Market: Data Triangulation
Figure 6 Mineral Oil Based Food Grade Lubricants to Continue Dominating the Food Grade Lubricants Market, 2016–2021
Figure 7 Food to Be the Largest Application Segment Between 2016 and 2021
Figure 8 Asia-Pacific to Be the Fastest-Growing Market of Food Grade Lubricants, 2016–2021
Figure 9 High Growth in the Food Grade Lubricants Market Between 2016 and 2021
Figure 10 Europe Projected to Be the Largest Market for Food Grade Lubricants Between 2016 and 2021
Figure 11 Germany Accounted for the Largest Market Share in Europe in 2015
Figure 12 Rapid Growth of Food Processing Industry in Emerging Regions Driving the Demand of Food Grade Lubricants
Figure 13 Food is the Biggest Application Segment for Food Grade Lubricants in 2015
Figure 14 Overview of Factors Governing the Food Grade Lubricants Market
Figure 15 Value Chain of Food Grade Lubricants Market
Figure 16 Porter’s Five Forces Analysis
Figure 17 Mineral Oil Based Food Grade Lubricants Dominates the Global Food Grade Lubricants Market
Figure 18 Revenue Pocket Matrix, By Base Oil
Figure 19 Europe Projected to Be the Largest Market for Mineral Oil Based Food Grade Lubricants Between 2016 and 2021
Figure 20 Europe to Be the Largest Market for Synthetic Food Grade Lubricants Between 2016 and 2021
Figure 21 Synthetic Food Grade Lubricants Market Size for PAO, 2014–2021
Figure 22 Synthetic Food Grade Lubricants Market Size for PAG, 2014–2021
Figure 23 Synthetic Food Grade Lubricants Market Size for Others, 2014–2021
Figure 24 Europe is the Largest Market for Bio-Based Food Grade Lubricants Between 2016 and 2021
Figure 25 Food Application Dominates Food Grade Lubricants Market
Figure 26 Revenue Pocket Matrix: Application
Figure 27 Europe is the Largest Market for Food Grade Lubricants in Food Application
Figure 28 Food Grade Lubricants Market Size in Bakery, 2014–2021
Figure 29 Food Grade Lubricants Market Size in Sugar, 2014–2021
Figure 30 Food Grade Lubricants Market Size in Dairy, 2014–2021
Figure 31 Food Grade Lubricants Market Size in Meat, Poultry and Seafood, 2014–2021
Figure 32 Food Grade Lubricants Market Size in Other Applications, 2014–2021
Figure 33 Europe is the Largest Market for Food Grade Lubricants in Beverages Application
Figure 34 Europe Dominated the Food Grade Lubricants Market in Pharmaceuticals & Cosmetics
Figure 35 North America Market to Surpass Europe in Others Application Segment By 2021
Figure 36 China and India: Emerging Hotspots for the Food Grade Lubricants Market
Figure 37 Germany to Witness Highest CAGR in the European Food Grade Lubricants Market
Figure 38 The U.S. Dominates the Food Grade Lubricants Market in North America
Figure 39 Asia-Pacific Market Snapshot: Australia & New Zealand Dominates the Food Grade Lubricants Market in Asia-Pacific
Figure 40 New Product Launch: the Most Preferred Growth Strategy Adopted By Key Players
Figure 41 New Product Launches: the Most Preferred Growth Strategy in the Food Grade Lubricants Market
Figure 42 Fuchs Petrolub SE: the Largest Company in Food Grade Lubricants Market
Figure 43 Fuchs Petrolub SE: Business Overview
Figure 44 Fuchs Petrolub SE: SWOT Analysis
Figure 45 Illinois Tool Works Inc.: Business Overview
Figure 46 Illinois Tool Works Inc.: SWOT Analysis
Figure 47 Petro-Canada Lubricants Inc.: SWOT Analysis
Figure 48 Total S.A.: Business Overview
Figure 49 Total S.A.: SWOT Analysis
Figure 50 AB SKF: Business Overview
Figure 51 BP PLC: Business Overview
Figure 52 Chemtura Corporation: Business Overview
Figure 53 Exxon Mobil Corporation: Business Overview

The global market size of food grade lubricants is projected to reach 64.45 kilotons by 2021, registering a CAGR of 6.7% between 2016 and 2021. In terms of value, the market size for food grade lubricants was USD 182.8 Million in 2016, and is projected to reach USD 256.5 Million by 2021, registering a CAGR of 7.0% during the same period. The growing processed food industry i is expected to generate demand and drive the food grade lubricants market during the forecast period. The food application accounted for major share of the food grade lubricants market in 2015.

The food grade lubricants market is classified on the basis of base oil, namely, mineral oil, synthetic oil (PAO, PAG, and others), and bio-based. Mineral oil dominated the food grade lubricants market during the forecast period, followed by synthetic oil, in 2015. The dominance of mineral oil-based food grade lubricants is owed to its low cost and easy availability.
Synthetic oil based food grade lubricants are expected to witness the highest CAGR between 2016 and 2021. The growth is mainly due to the advanced properties such as better performance in extreme temperature conditions, oxidation stability, and durability compared to conventional mineral oil lubricants

The food grade lubricants market is classified on the basis of application, namely, food, beverages, pharmaceuticals & cosmetics, and others. It is dominated by the food application. The dominance of food segment is mainly attributed to the increasing concern over food safety and rapid growth of the food processing industry. The application of food is projected to register the highest CAGR between 2016 and 2021, in terms of volume.

Currently, Europe is the largest market for food grade lubricants. The stringent food safety regulations in the region are expected to drive the increasing demand for food grade lubricants. Asia-Pacific is projected to be the fastest-growing market between 2016 and 2021. This growth is attributed to the rising awareness and growing processed food industry in the region.

Food Grade Lubricants Market

The major factor restraining the growth of the food grade lubricants market is the lack of proper training and awareness. Use of wrong lubricating oil or grease may result in huge losses. This issue restrains the growth of the market.

Some of the key players of the food grade lubricants market are Fuchs Petrolub SE (Germany), BP PLC (U.K.), Total S.A. (France), Petro-Canada Lubricants Inc. (Canada), Exxon Mobil Corporation (U.S.), Kluber Lubrication Munchen SE & CO. KG (Germany), AB SKF (Sweden), Chemtura Corporation (U.S.), Illinois Tool Works Inc. (U.S.), and Jax Inc. (U.S.) among others. These players compete with each other with respect to prices, and offer wide range of products to meet the market requirements.

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