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 growth is primarily triggered by the stringent food safety regulations and rapid growth of the processed food market.
Complete report on Food Grade Lubricants Market spread across 176 pages, profiling 10 companies and supported with 83 tables and 60 figures is now available at http://www.rnrmarketresearch.com/food-grade-lubricants-market-by-base-oil-mineral-oil-synthetic-oil-polyalphaolefins-polyalkylene-gylcols-others-and-bio-based-oil-and-by-application-food-beverages-pharmaceuticals-cosmetics-and-others-global-market-trends-for-market-report.html
Synthetic oil-based food grade lubricants are projected to grow at the highest CAGR between 2016 and 2021. Higher demand for synthetic oil-based food grade lubricants is due to its better performance in extreme temperature conditions, oxidation stability, and durability compared to conventional mineral oil lubricants. Also, high awareness among lubrication engineers about food grade lubricants and high performance characteristics of synthetic oil based food grade lubricants, coupled with stringent food safety laws, is expected to fuel the growth of the market during the forecast period.
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Asia-Pacific is projected to be the fastest-growing market for food grade lubricants, globally. This high growth is primarily attributed to the high growth in the food and beverage industry, along with auxiliary industries. Also, the rising awareness among the end users is forcing them to voluntarily use food grade lubricants in order to follow best practices which are expected to drive the demand for food grade lubricants in the region.
This study has been validated through primary interviews with various industry experts globally. The break-up profile of primary discussion participants is given here Tier 1 (30%); Tier 2 (43%) and other (27%) companies were contacted for interviews. The interviews were conducted with various key people such as C Level (43%), Directors Level (30%) and other (27%) from various key organizations. The primary interviews were conducted worldwide covering regions such as North America (37%), Europe (23%), Asia-Pacific (26%) and Row (14%).
Some of the key companies profiled in this report 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.
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The report offers market estimations and projections till 2021 and offers a complete study of the market dynamics. In addition, the report provides the competitive landscape with major growth strategies adopted by the key players.
On a related note, another research titled with Polymer Foam Market by Type (PU, PS, PVC, Phenolic, Polyolefin, Melamine, and Other), by Application (Packaging, Building & Construction, Furniture & Bedding, Automotive, and Others), by Region (North America, Europe, Asia-Pacific, and Row) — Global Forecasts to 2021. Now available at http://www.rnrmarketresearch.com/polymer-foam-market-by-types-polyurethane-polystyrene-polyvinyl-chloride-polyolefin-phenolic-melamine-and-others-applications-packaging-building-construction-furniture-bedding-automoti-market-report.html
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