Algae-based lubricants are derived from aquatic organisms, which include divert algae diatom, Wakame, wrack, Marimo, Golden algae, Irish moss, and others. Algae-based lubricants have a diverse role in food as well as pharmaceutical industries. Also, algae-based lubricants help to reduce heat and friction, and protect food from contamination, which propels the demand for algae-based lubricants in the global market. Algae-based lubricants made from algae oil are health-friendly, which is also a primary reason boosting the market growth of algae-based lubricants. Moreover, algae-based lubricants are used in pharmaceuticals as they have many benefits resulting in massive demand in the market. Listed are the factors responsible for the algae-based lubricants market growth and expected to remain significant over the forecast period.
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Applications in Pharmaceutical Industry to Boost the Demand for Algae-based Lubricants
Algae-based lubricants have the power of transmission as well as corrosion protection of machines to process or manufactures foodstuff, and other related commodities such as pharmaceuticals product, cosmetic products as well as animal feed, which is likely to drive the market of algae-based industry globally. Moreover, food-grade lubricants good adsorption as well as adhesion on plastic and metals, and excellent steam resistance which is use, while filling wine beer or other soft drinks, due to demand of algae-based lubricants, application in food industry, also, it has properties of oxidation resistance and water resistance, which in turn, to drive the market of algae-based lubricants. Moreover, rising consumption of tobacco nowadays; increase the production of tobacco product, which in turn, the lubricants oil in food processing industry; drives from algae. Additionally, algae-based lubricants food and other related merchandise from contamination or any chemical residues caused by the refining process, which in turn, is expected, to drive the demand for Algae-based lubricants in coming years. Further, increasing demand of cosmetic product by the consumer, as they are more aware of their skin and hair, drives the market of the cosmetic industry, which are likely to propel the demand of Algae-based lubricants market globally. These are the factors which are expected to drive the growth of Algae-based lubricants market.
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Algae-based Lubricants Market Segmentation
On the basis of end use, the algae-based lubricants market has been segmented as-
- Tobacco Products
- Animal Feed
On the basis of type, the algae-based lubricants market has been segmented as-
- Bladder Wrack
- Golden Algae
- Irish Moss (Others)
On the basis of end use, the algae-based lubricants market has been segmented as-
- Food Processing Industry
- Pharmaceutical Industry
Algae-based Lubricants Market: Key Players
Some of the major key players operating in the global algae-based lubricants market are Synthetic Genomics, Inc., Sapphire Energy, Inc., Algenol, Blue Marble Biomaterials, Solazyme Inc., Origin Oils Inc. Culture Biosystems, and Taronis Technologies, Inc. (TRNX), among others. Apart from the above mentioned companies, many other manufacturers are showing a keen interest in the algae-based lubricants market, owing to its wide applications in the food and other industries, resulting in high demand for algae-based lubricants over the forecast period.
Algae-based Lubricants Market Opportunities
The food industry is rising around the globe due to various innovations, which in turn drive the demand for algae-based products, simultaneously driving the market of algae-based lubricants. Rising of the food process industry as well as the pharmaceuticals industry globally will increase the demand for algae-based lubricants, which creates opportunities for manufacturers engaged in algae-based lubricants market, to expand their products. Moreover, availability of different types of algae such as Diatom, Wakame, Bladder wrack, Marimo, Golden algae, and Irish moss (others), creates opportunities for manufacturers to expand their market by offering varieties of algae products. These listed factors are likely to drive the demand for algae-based lubricants in the forecast period.
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