The global bio-lubricants market reached a value of US$ 2.14 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 2.73 Billion by 2027, exhibiting a CAGR of 4.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Bio-lubricants are prepared by chemical modification of plant-based oils, such as epoxidation, transesterification and esterification reactions. These lubricants are widely used to reduce friction between different surfaces. As they are non-toxic, eco-friendly, bio-degradable and renewable, bio-lubricants are utilized in heavy machineries, such as railroad flanges, chainsaw bars and two-stroke engines. Besides this, they are required in less quantity during application and offer several advantages over synthetic and mineral oil-based lubricants. At present, technological advancements, along with increasing research and development (R&D) activities by key participants, are creating new avenues for bio-lubricant applications.
Bio-based lubricants are progressively gaining prominence over conventional petroleum-based oils on account of stringent government regulations and the increasing applications in the power generation and manufacturing industries. Moreover, the escalating demand for lubricants with superior product characteristics, such as biodegradability, high flash points, constant viscosity and lower emission levels, is acting as another growth-inducing factor. Apart from this, the depletion of crude oil reserves across the globe, in confluence with the inflating crude oil prices, has considerably raised the demand for bio-based materials. Other factors such as the growing R&D initiatives, technological innovations, increasing environmental concerns and stringent government regulations on the usage of synthetic lubricants are expected to drive the market in the coming years.
Bio-lubricants are prepared by chemical modification of plant-based oils, such as epoxidation, transesterification and esterification reactions. These lubricants are widely used to reduce friction between different surfaces. As they are non-toxic, eco-friendly, bio-degradable and renewable, bio-lubricants are utilized in heavy machineries, such as railroad flanges, chainsaw bars and two-stroke engines. Besides this, they are required in less quantity during application and offer several advantages over synthetic and mineral oil-based lubricants. At present, technological advancements, along with increasing research and development (R&D) activities by key participants, are creating new avenues for bio-lubricant applications.
Bio-based lubricants are progressively gaining prominence over conventional petroleum-based oils on account of stringent government regulations and the increasing applications in the power generation and manufacturing industries. Moreover, the escalating demand for lubricants with superior product characteristics, such as biodegradability, high flash points, constant viscosity and lower emission levels, is acting as another growth-inducing factor. Apart from this, the depletion of crude oil reserves across the globe, in confluence with the inflating crude oil prices, has considerably raised the demand for bio-based materials. Other factors such as the growing R&D initiatives, technological innovations, increasing environmental concerns and stringent government regulations on the usage of synthetic lubricants are expected to drive the market in the coming years.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global bio-lubricants market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on base oil type, application and end use industry.Breakup by Base Oil Type:
- Vegetable Oils
- Animal Fats
Breakup by Application:
- Hydraulic Fluids
- Metalworking Fluids
- Chainsaw Oils
- Mold Release Agents
- Two-Cycle Engine Oils
- Gear Oils and Greases
- Others
Breakup by End Use Industry:
- Power Generation
- Automotive
- Heavy Equipment
- Food & Beverage
- Metallurgy & Metalworking
- Chemical Manufacturing
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Albemarle Corporation, BP Plc, Chevron Corporation, Emery Oleochemicals, Exxon Mobil Corporation, Fuchs Petrolub SE, Klüber Lubrication München SE & Co. KG (Freudenberg Chemical Specialities SE & Co. KG), Panolin AG, Polnox Corporation, Quaker Chemical Corporation, Royal Dutch Shell PLC and Total SE.Key Questions Answered in this Report:
- How has the global bio-lubricants market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global bio-lubricants market?
- What are the key regional markets?
- What is the breakup of the market based on the base oil type?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global bio-lubricants market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Bio-lubricants Market
What is the estimated value of the Global Bio-lubricants Market?
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Who are the key companies in the Global Bio-lubricants Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | February 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 2.14 Billion |
| Forecasted Market Value ( USD | $ 2.73 Billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Bio-lubricants Market
6 Market Breakup by Base Oil Type
7 Market Breakup by Application
8 Market Breakup by End Use Industry
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Albemarle Corporation
- BP Plc
- Chevron Corporation
- Emery Oleochemicals
- Exxon Mobil Corporation
- Fuchs Petrolub SE
- Klüber Lubrication München SE & Co. KG (Freudenberg Chemical Specialities SE & Co. KG)
- Panolin AG
- Polnox Corporation
- Quaker Chemical Corporation
- Royal Dutch Shell PLC
- Total SE.
Methodology
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