Global Biolubricants Market is Expected to Reach USD 2,377.5 Million in 2018: Transparency Market Research

Global Biolubricants Market is Expected to Reach USD 2,377.5 Million in 2018: Transparency Market Research PR Newswire NEW YORK, December 12, 2012 NEW YORK, December 12, 2012 /PRNewswire/ -- According to a new market report published by Transparency Market Research (http://www.transparencymarketresearch.com) "Biolubricants Market - Global Scenario, Trends, Industry Analysis, Size, Share & Forecast 2010 - 2018," the global bio-based lubricants market was worth USD 1,713.2 million in 2011 and is expected to reach USD 2,377.5 million in 2017, growing at a CAGR of 4.9% from 2011 to 2017. In the overall global market, North America is expected to maintain its lead position in terms of revenue till 2018. North America is expected to enjoy 38.1% of the global bio-based lubricants market revenue share in 2018 followed by Europe. Browse the full report at h t t p : / / w w w . t r a n s p a r e n c y m a r k e t r e s e a r c h . c o m / b i o l u b r i c a n t s - m a r k e t . h t m l The global biolubricants market is driven by strict legislations and regulations followed by different government bodies in different developed and developing countries. Higher pricing is one of the main restraints in the growth of the bio- based lubricants market. A bio-based lubricant is around 1.5 to 2 times costlier than mineral oil lubricant, which makes market penetration a critical issue for the industry.