Request Sample Inquiry
Bio Lubricants Market

Bio Lubricants Market

Bio Lubricants Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

141

Base Year:

2021

Date

Aug - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1807

Segments Covered
  • By Base Oil Vegetable Oil, Animal Fat, Other Oils
  • By Application Hydraulic Oil, Metalworking Fluids, Chainsaw Oil, Mold Release Agents, Two-Cycle Engine Oils, Gear Oils, Greases, Other Applications
  • By End-Use Industry Industrial (Marine, Mining & Metallurgy, Energy & Power, Food & Pharmaceutical), Commercial Transport, Consumer Automobile
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 1.9 Billion
Revenue 2028Revenue 2028: USD 2.3 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 3.9%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Europe
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Bio Lubricants Market Share

Market Synopsis:

The Global Bio Lubricants Market was valued at USD 1.9 Billion in the year 2021 and is expected to reach a value of USD 2.3 Billion by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 3.9% over the forecast period.

Bio Lubricants are primarily produced by performing chemical modifications to plant-based oils. Several mutations, including epoxidation, transesterification, and esterification processes, are used to create bio-lubricants. These lubricants are frequently employed to lessen friction on various surfaces. Heavy machinery like railroad flanges, chainsaw bars, and two-stroke engines use bio-lubricants because they are eco-friendly, biodegradable, non-toxic, and renewable. Additionally, they have several benefits over synthetic and mineral oil-based lubricants and need less application effort. Alternatives to traditional lubricating oils that harm the environment by releasing toxic vapors include bio-based lubricant alternatives. The industry rapidly expands among environmental activists due to its unique "environmental benignity."

Bio Lubricants Market Size, 2021 To 2028 (USD Billion)

The market is being restricted by the high cost of Bio Lubricants s and their lack of lubricating characteristics, which is the biggest issue facing makers of Bio Lubricants s. The cost of these lubricants is a substantial obstacle for the market to get beyond. A Bio Lubricants is more expensive than a standard lubricant. Most bio-based goods are priced similarly to mid to high-performance mineral oil goods. Over the coming ten years or so, it is anticipated that these factors will have a specific impact on market growth.

Market Segmentation:

The Bio Lubricants Market is segmented based on Base Oil, Application, End-Use Industry, and Region. Based on Base Oil, the market is further segmented into Vegetable Oil, Animal Fat, and Other Oils. Furthermore, based on the Application segment, the market is further segmented into Hydraulic Oil, Metalworking Fluids, Chainsaw Oils, Mold Release Agents, Gear Oils, Two-Cycle Engine Oils, Greases, and Other Applications. In addition, based on the End-Use Industry segment, the market is further segmented into Industrial (Marine, Mining & Metallurgy, Energy & Power, Food & Pharmaceutical), Commercial Transport, and Consumer Automobile.

Below tree is interactive. You can click the nodes to get more information.

Based on Base Oil:

Vegetable Oil was the market segment with the most significant market share, and this trend is anticipated to continue over the projection period. Due to its many uses, oxidative stability, and outstanding performance, Vegetable Oil holds a sizable market share. In addition, the abundance of Vegetable Oil seeds, which are used as raw materials, might also be acclaimed for the rise. The development of Vegetable Oil over the animal fat segment is also likely to be aided by growing conservation concerns for wildlife.

Based on End-Use Industry Type:

The Industrial sector has the most significant market share and is anticipated to hold its position throughout the projection period. Agriculture and the building industries are among the various industries included in the Industrial sector. These two are considered the biggest markets for bio-lubricants. Environmental laws regarding the disposal of lubricants, ecolabels, and tax incentives for using bio-lubricants are to blame for the industrial segment's domination. The use of bio-lubricants or ecologically acceptable lubricants (EAL) in maritime boats is now required by several regulations, including the vessel general permit (VGP) in the U.S. and EcoLabel in Europe, which is fueling the market.

Europe Had a Major Share and Is Projected To Continue Its Dominance over the Forecast Period

The largest market for bio-lubricants has proved to be in Europe. For developing nations, manufacturing lubricants such as chainsaw oils, mold release agents, and two-stroke oils in the environment has become a serious concern. Therefore, the developed countries in Europe boast of ecolabels that encourage the use of bio-lubricants rather than conventional ones. Furthermore, the region is seeing a rapid increase in bio-based chemicals such as biofuels and the bio-lubricants. This is seen in the purview of strict laws and the ongoing transition towards the bio economy in nations like Germany, Italy, the Nordic countries, Benelux, and France. Therefore, the European market is expected to benefit significantly in the years to come.

Over the years, the North American market has expanded quickly, in large part due to rising passenger automobile sales. In the upcoming years, the regulatory environment will support the demand for and production of bio-lubricants. For example, the U.S. EPA has developed laws and regulations that mandate marine boats operating in U.S. waters to get the obligatory Vessel General Permit (VGP) and use environmentally friendly lubricants at oil-to-sea interfaces.

Competitive Landscape:

The key players in the Global Bio Lubricants Market include- ExxonMobil (US), Royal Dutch Shell (Netherlands), Total S.A (France), Cargill (US), BP (UK), Emery Oleochemicals (Malaysia), FUCHS Group (Germany), Panolin (Switzerland), Kluber Lubrication (Germany), Binol Lubricants (Sweden), and others.

Segmentation of the Global Bio Lubricants Market:

Parameter Details
Segments Covered
  • Base Oil (Vegetable Oil, Animal Fat, Other Oils)
  • Application (Hydraulic Oil, Metalworking Fluids, Chainsaw Oil, Mold Release Agents, Two-Cycle Engine Oils, Gear Oils, Greases, Other Applications)
  • End-Use Industry (Industrial (Marine, Mining & Metallurgy, Energy & Power, Food & Pharmaceutical), Commercial Transport, Consumer Automobile)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • ExxonMobil (US)
  • Royal Dutch Shell (Netherlands)
  • Total S.A (France)
  • Cargill (US)
  • BP (UK)
  • Emery Oleochemicals (Malaysia)
  • FUCHS Group (Germany)
  • Panolin (Switzerland)
  • Kluber Lubrication (Germany)
  • Binol Lubricants (Sweden)
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Bio Lubricants Market to Reach Valuation of USD 2.3 Billion By 2028 – Widespread Acceptance of Bio Lubricants as Alternatives to Oils with Petroleum Base Drives the Market
In terms of revenue, the Global Bio Lubricants Market is expected to reach USD 2.3 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 3.9% from 2022 to 2028. Chemical modifications to plant-based oils, such as epoxidation, transesterification, and esterification processes, are use...
FAQ
Frequently Asked Question
  • The global Bio Lubricants valued at USD 1.9 Billion in 2020 and is expected to reach USD 2.3 Billion in 2028 growing at a CAGR of 3.9%.

  • The prominent players in the market are ExxonMobil (US), Royal Dutch Shell (Netherlands), Total S.A (France), Cargill (US), BP (UK), Emery Oleochemicals (Malaysia), FUCHS Group (Germany), Panolin (Switzerland), Kluber Lubrication (Germany), Binol Lubricants (Sweden).

  • The market is project to grow at a CAGR of 3.9% between 2021 and 2028.

  • The driving factors of the Bio Lubricants include

    • Regulatory Norms Driving the Demand for Bio-based Lubricants

  • Europe was the leading regional segment of the Bio Lubricants in 2020.