Global Bio Lubricant Market is set to increase at a valuation of US$ 2,674.6 million at a CAGR of 4.7% by 2034 | Fact MR. Reports [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
Rockville, April 24, 2024 (GLOBE NEWSWIRE) -- The global bio lubricant market is projected to be valued at US$ 1,654.7 million in 2024. It is estimated to reach a valuation of US$ 2,674.6 million by 2034, at a CAGR of 4.7% from 2024 to 2034. The market is experiencing significant growth driven by a global shift towards sustainable and environmentally friendly alternatives. Bio lubricants, derived from renewable sources such as vegetable oils and animal fats, are gaining prominence as industries seek to reduce their environmental impact. Get Free Sample Copy of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=9696 Increasing awareness of the ecological consequences of traditional petroleum-based lubricants is encouraging a shift towards bio lubricants. Stringent environmental regulations are pushing industries to adopt bio-based solutions that offer biodegradability, lower toxicity, and reduced carbon footprint. The automotive sector is a major contributor to t
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