Bio-lubricants Market End-use Industry, By Others
| Label | Asia Pacific | China | India | Japan | South Korea | Rest of Asia Pacific |
|---|---|---|---|---|---|---|
| 2015 | 404.03 USD Mn | 178.60 USD Mn | 100.93 USD Mn | 40.97 USD Mn | 60.96 USD Mn | 22.57 USD Mn |
| 2016 | 423.15 USD Mn | 188.30 USD Mn | 105.79 USD Mn | 42.32 USD Mn | 63.47 USD Mn | 23.27 USD Mn |
| 2017 | 443.38 USD Mn | 198.60 USD Mn | 110.93 USD Mn | 43.72 USD Mn | 66.12 USD Mn | 24.01 USD Mn |
| 2018 | 465.57 USD Mn | 209.87 USD Mn | 116.57 USD Mn | 45.27 USD Mn | 69.03 USD Mn | 24.82 USD Mn |
| 2019 | 489.81 USD Mn | 222.19 USD Mn | 122.73 USD Mn | 46.97 USD Mn | 72.21 USD Mn | 25.71 USD Mn |
| 2020 | 515.77 USD Mn | 235.41 USD Mn | 129.33 USD Mn | 48.77 USD Mn | 75.60 USD Mn | 26.66 USD Mn |
| 2021 | 545.49 USD Mn | 250.49 USD Mn | 136.89 USD Mn | 50.86 USD Mn | 79.49 USD Mn | 27.76 USD Mn |
| 2022 | 577.02 USD Mn | 266.54 USD Mn | 144.91 USD Mn | 53.06 USD Mn | 83.60 USD Mn | 28.91 USD Mn |
| 2023 | 610.47 USD Mn | 283.64 USD Mn | 153.43 USD Mn | 55.35 USD Mn | 87.94 USD Mn | 30.12 USD Mn |
| 2024 | 645.95 USD Mn | 301.84 USD Mn | 162.47 USD Mn | 57.75 USD Mn | 92.51 USD Mn | 31.38 USD Mn |
| 2025 | 683.61 USD Mn | 321.23 USD Mn | 172.07 USD Mn | 60.27 USD Mn | 97.34 USD Mn | 32.69 USD Mn |
Data Source: Wantstats Repository
Market Dynamics
China accounted for the largest market share in 2018 in the Asia Pacific sodium bicarbonate market, and is expected to reach USD 321.23 Million in 2025 from USD 209.87 Million in 2018.This market is projected to grow at a CAGR of 6.34% during the forecast period from 2019 - 2025. feed segment accounted for the largest market share in 2018, this market is expected to reach USD 307.04 Million in 2025 from USD 204.99 Million in 2018. This market is projected to grow at a CAGR of 6.01% during the forecast period from 2019 - 2025. However, food segment is the fastest growing market, which is expected to grow at a CAGR of 6.17% during the forecast period 2019 - 2025. animal feed segment accounted for the largest market share in 2018, this market is expected to reach USD 186.18 Million in 2025 from USD 116.24 Million in 2018. This market is projected to grow at a CAGR of 7.00% during the forecast period from 2019 - 2025. However, food and beverages segment is the fastest growing market, which is expected to grow at a CAGR of 7.13% during the forecast period 2019 - 2025.
Research Methodology
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2023.
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