NEW YORK, July 7, 2015 /PRNewswire/ -- The market for food grade lubricants is estimated at 43.7 KT in 2015 and is projected to grow at a CAGR of 6.7% between 2015 and 2020. Food grade lubricants are used for machinery and equipment in the food processing industry to lessen the threat of contamination caused through leaks and drips. This report on food grade lubricants market covers all major regions such as Asia-Pacific, Europe, North America, and the Rest of the World. The report analyzes market trends and forecasts from 2013 to 2020. Market estimations have been provided in terms of consumption volume (tons) and market revenue (USD). The global as well as regional markets have been segmented on the basis of base oil and application. The base oil types are mineral oil, synthetic oil, and bio-based oil. The applications of food grade lubricants are food, beverages, pharmaceuticals & cosmetics, and others.
The report analyzes the market dynamics such as drivers, restraints, opportunities, and winning imperatives. The leading companies, such as Chemtura Corporation (U.S.), Klüber Lubrication München SE & Co. KG (Germany), and Fuchs Petrolub SE (Germany), have been profiled in this report. The report also provides the analysis of competitive landscape based on the recent developments in the market.
For this report, various secondary sources such as chemical magazines, encyclopedia, directories, technical handbooks, company annual reports, industry association publications, articles, trade websites, and databases have been referred to identify and collect information useful for this extensive commercial study of global food grade lubricants market. The primary sources—experts from related industries and suppliers—have been interviewed to obtain and verify critical information as well as to assess the future prospects and market estimations.
The food grade lubricants market is highly fragmented with the presence of large number of global and regional manufacturers. These manufacturers are focused on catering their customers with advanced products and have launched a number of new products in the recent past.
Food grade lubricants can be classified into three categories based on the base oil type, namely; mineral oil, synthetic oil (PAO, PAG, and others), and bio-based oil. Mineral oil is the largest type based on raw material. The need for increase in the efficiency of the grinding process due to the high costs associated with it has led to increased consumption of grinding aids. The market for mineral oil in 2014 was approximately 77.7% of the total market, in terms of volume. Europe is the largest consumer of mineral oil-based food grade lubricants.
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