According to IMARC Group’s latest report, titled “Bio-Lubricants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global bio-lubricants market reached a value of US$ 2.14 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.73 Billion by 2027, exhibiting at a CAGR of 4.1% during 2022-2027. Bio-lubricants are produced from plant-based oils or animal fats by using several chemical modification processes, including transesterification, epoxidation, and esterification reactions. They are eco-friendly, non-toxic, bio-degradable, and renewable. Bio-lubricants aid in lowering friction between various surfaces. They are extensively utilized in heavy machinery, such as chainsaw bars, railroad flanges, two-stroke engines, etc. Consequently, bio-lubricants find widespread applications across numerous sectors, including power generation, automotive, heavy equipment, food and beverage, metallurgy and metalworking, chemical, manufacturing, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends:
The expanding power generation and manufacturing industries across countries and the rising demand for effective alternatives to petroleum-based oils are among the key factors driving the bio-lubricants market. Besides this, the elevating need for lubricants that have superior product characteristics, such as biodegradability, constant viscosity, high flash points, and lower emission levels, is acting as another significant growth-inducing factor. In addition to this, the rapid depletion of crude oil reserves and the inflating crude oil prices are also positively influencing the market growth. Apart from this, the implementation of stringent regulations by government bodies aimed at restricting the usage of synthetic lubricants and the growing research and development (R&D) initiatives to aid technological advancements are expected to propel the bio-lubricants market in the coming years.
Bio-lubricants Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the bio-lubricants market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Albemarle Corporation
- BP Plc
- Chevron Corporation
- Emery Oleochemicals
- Exxon Mobil Corporation
- Total SE
- Fuchs Petrolub SE
- Kluber Lubrication Munchen SE & Co. KG (Freudenberg Chemical Specialities SE & Co. KG)
- Panolin AG
- Polnox Corporation
- Quaker Chemical Corporation
- Royal Dutch Shell PLC
Key Market Segmentation:
The report has segmented the global bio-lubricants market on the basis of base oil type, application, end use industry and region.
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
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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