Kline Research: Meet the New Normal - Bio-based Lubricants to Become More Prevalent in the Coming Years
Historically, bio-lubricants have constituted a small percentage of the finished lubricants market globally. The leading markets for bio-lubricants are primarily in North America and Europe, including the United States, Germany, and the Nordic countries.
In 2014, the market seemed to have tremendous potential. Now, in the early days of 2017, we are slowly witnessing the fruits of that potential. Government regulations and procurement seem to have created a demand for bio-based lubricants. However, it seems government initiatives alongside regulations and emergence of high performance basestocks are pushing the once niche segment to the forefront, albeit moderately.
In 2016, several...