The global market for bio-lubricants is expected to reach USD 2,601.9 million by 2020, according to a new study by Grand View Research, Inc. Bio-lubricants are increasingly being preferred to their mineral counterparts due to desirable properties of biodegradability, constant viscosity, high flash point and lower emissions. In addition, increasing regulatory support towards the use of sustainable products is further expected to augment the demand for bio-lubricants over the forecast period. However, high cost of bio-lubricants in comparison to synthetic lubricants coupled with limited application scope is expected to be a major challenge for the market over the next six years.
http://www.grandviewresearch.com/industry-analysis/biolubricants-industry
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