Pre & Post COVID-19 Market Estimates-Farnesene Market 2020-2024| Increased Adoption of Bio-based Lubricants to Boost Market Growth | Technavio

Technavio has announced its latest market research report titled Global Farnesene Market 2020-2024 (Graphic: Business Wire)

LONDON--()--The farnesene market is expected to grow by 45.23 thousand MT during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio.

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Growing awareness about the use of eco-friendly lubricants has increased the use of bio-based lubricants as an alternative to petroleum-based lubricants. These lubricants are made from renewable feedstock, such as plant-based oil and sugar, produced through fermentation, ultrafiltration, and crystallization techniques. The demand for such environmentally friendly lubricants is gaining traction in developed economies such as Canada, the US, and Germany. Similarly, developing countries such as China, Japan, and India are also witnessing a surge in the demand for green and sustainable lubricants and other energy-saving resin systems. These factors are significantly influencing the growth of the global farnesene market.

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As per Technavio, the increasing use of farnesene in multifunctional cosmetics, surfactants, and emulsifiers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Farnesene Market: Increasing Use of Farnesene in Multifunctional Cosmetics, Surfactants, and Emulsifiers

The growing consumer demand for multifunctional products has encouraged many market players to incorporate multiple functions in a single offering. For instance, cosmetics manufacturers are introducing products containing both hydrating and antioxidant functionalities to attract consumer interest as well as to drive sales. Similarly, manufacturers of surfactants and emulsifiers are increasing the use of farnesene to offer multifunctional products. The increasing use of farnesene in such end-user applications is expected to have a positive impact on the growth of the global farnesene market.

“Stringent regulations and policies for sustainable products in the marine industry and the increasing use of farnesene in the aviation industry will further boost market growth during the forecast period”, says a senior analyst at Technavio.

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Farnesene Market: Segmentation Analysis

This market research report segments the farnesene market by application (cosmetics, flavor and fragrances, lubricants, and performance materials) and geographic landscape (APAC, Europe, MEA, North America, and South America).

The European region led the farnesene market in 2019, followed by APAC, North America, MEA, and South America respectively. During the forecast period, Europe is expected to register the highest incremental growth due to the increasing consumption of beauty and personal care products in the region.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The farnesene market size has the potential to grow by 45.23 K MT during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/