Global soybean oil based lubricants market has witnessed significant growth over the last few years, on account of its economic performance, coupled with rising global environmental concerns. Soybean oil based lubricants have emerged as substitutes for petroleum based and mineral based lubricants, which are still predominantly used across the globe, owing to easy availability and production. However, as of 2013, various governmental bodies globally have introduced numerous regulations supporting unconventional lubricant sources such as soybean oil based lubricants, in order to curtail carbon emissions. Furthermore, these regulations also aim to reduce dependence on depleting resources, considering future rise in lubricants demand. Both these factors have significantly been driving the market for soybean oil based lubricants and the trend is expected to continue over the forecast, on account of increasing government and agency regulations.
http://www.grandviewresearch.com/industry-analysis/soybean-oil-based-lubricants-market
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