Bio-Lubricants Market

Global Bio-Lubricants Market is valued at USD 1,944.0 million in 2021 and it is expected to reach USD 2,573.13 million by 2028, with a CAGR of 4.1% during the forecast period.

Increasing demand of bio-lubricants, rising environmental awareness regarding the use of conventional lubricants and growing research & development for new applications of the bio-lubricants are some of the factors anticipated to the drive the growth of the global bio-lubricants market over the forecast period.

Scope of Global Bio-lubricants Market:

Bio lubricants, also referred to as bio-based lubricants made up biological products such as coconut oil, vegetable oils, canola, sunflower, palm, canola, sunflower, soybean, palm, and coconut oils. Lubricants are used to reduce fiction and to enhance efficiency of machines. Bio lubricants are made from bioproducts. Substance made from vegetable-based oils and additives are usually called as bio lubricants. The bio lubricants are biodegradable and non-hazardous for human beings and aquatic habitats. These bio lubricants are classified based on plant oils or synthetic esters manufactured from modified renewal oils. Bio-lubricants used in are construction sector, mining forestry, agriculture, medicine, food-processing industry, hydroelectric dams and various marine uses. Bio-based lubricants does have side effects such as cause skin inflammation, which is generally caused by petroleum-based lubricants. Bio lubricants used as they cause reduction in energy usage, with the help of bio lubricants labor cost is saved and because of ecofriendly nature of bio lubricants employee safety is achieved along with improved environmental conditions.

The Covid-19 pandemic has shown a negative impact on the growth of global bio-lubricants market as due to the lockdown, most of the industries were closed and people were facing financial crisis so there is less demand of cars, and vehicles in automotive sector. And the bio-lubricants are majorly used in auto vehicles which had a huge impact on the demand of bio lubricants. New developments and researches regarding the bio-lubricants were put on hold as laboratories and technological centres closed due to the lockdown.

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2022 - 2028
Market Size in 2020:	USD 1944.0 Million
Base year considered	2020
Forecast Period CAGR %:	4.1%
Market Size Expected in 2027:	USD 2573.13 Million
Tables, Charts & Figures:	175
Pages	200
Bio-lubricants Manufacturers	Binol Biolubricants, Total S.A., UBL, Shell, British Petroleum, ExxonMobil, Chevron & British Petroleum, Exxon Mobil, Shell, Chevron, Renewable Lubricants, Statoil Lubricants, Panolin
Segments Covered	By Disease Type, By Drug Type, By Gender, By Distribution Channels
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Global Bio-lubricants Market Segmentation:

The global bio-lubricants market is segmented on the basis of product type, end users and region & country level. On the basis of product type, the market is segmented into vegetable oil and animal oil. On the basis of application, the market is segmented into industrial use, commercial transport, consumer automobile, and other.

By Type:

• Vegetable oil
• Animal oil

By End-Users:

• Industrial Use
• Commercial Transport
• Consumer Automobile
• Other

Key Players of Global Bio-lubricants Market:

• Binol Biolubricants
• Total S.A.
• UBL
• Shell
• British Petroleum
• ExxonMobil
• Chevron & British Petroleum
• Exxon Mobil
• Shell
• Chevron
• Renewable Lubricants
• Statoil Lubricants
• Panolin

News: Total Lubmarine Announced the Introduction of New EAL Grease.

On March 9^th, 2018- The Total Lubmarine announced the introduction of a new grease product i.e. ""BIO OG PLUS"". This product is an innovative addition to company's already comprehensive environmentally acceptable lubricant (EAL) range and these environmentally acceptable lubricants (EALs) are known as bio-lubricants. It is specifically framed for sensitive applications such as chains under high load and open gears. This BIO OG PLUS diminishes the challenges of working in environments where water contamination is common. Also, its biodegradable qualities allow owners, managers and operators of vessels to take a more environmentally considerate approach to lubrication since it is on top of being an extreme pressure and adhesive grease. It is also a dynamic resource to those operating areas requiring the use of EAL Lubricants.

Increasing Demand of Bio-Lubricants, Rising Environmental Awareness Regarding the Use Conventional Lubricants and Growing Research & Development for New Applications of the Bio-Lubricants are Major Factors Driving the Market Growth

One of the major factors driving the growth global bio-lubricants market is increasing demand of bio-lubricants. This due to the increasing crude oil prices, and issues related to conservation which has brought or transformed the consumer interest towards the use of bio-based bio-lubricants. As bio-lubricants are renewable, non-toxic, biodegradable, and environmentally friendly industrial fluids which has resulted in the widespread use of natural oils and fats for non-edible purposes over conventionally used petroleum-based product. Also consumers are aware about the use of bio-lubricants as a safer solution to use than traditional lubricants due to its high flash point & high stability. Thus, the automotive sector, construction industries use bio lubricants for a variety of applications and also these bio-lubricants are cheaper than conventional lubricants.

In addition to that, the extensive use of mineral based lubricants has caused serious environmental problems due to the fact that these oils are poorly biodegradable. Thus, tumbles from working machines or accidents cause serious damage to ecosystems. Therefore increasing concern for environmental protection and in addition to the continuous increase in the price of crude oil has encouraged the development of newer bio-based lubricants. For instance; according to West Texas Intermediate (WTI), crude oil futures climbed above $81 per barrel. So there is increasing consumer understanding about bio-lubricants that these are much less contaminant & involve the use of carbon chains from locally produced renewable sources.

Furthermore, the latest advances in oil seed breeding and biotechnology provide new oil bases that overcome the problem of the low stability of vegetable oils & growing sales of motorcycles, high demand for taxis, bikes, heavy-duty trucks and lightweight passenger cars. It has increased production in the automotive sector globally. For example; according to in 2019 US publisher Ward's stated that, there were 1.4 billion motor vehicles in use in the world. Thus, application of bio-lubricants in automotive sector will boost the market growth in the forecast period. However, high cost of these bio-lubricants may hamper the market growth. In spite of that, increasing advancements in the field of bio lubricants may create more opportunities for the further growth of the market.

North America is Expected to Dominate the Global Bio-lubricants Market.

Geographically, North America is expected to dominate the global bio-lubricants market due to the growing awareness regarding the use of plant-based biodegradable products, presence of key players and research & developments for innovative use of bio-lubricants in this region. Also the consumers in this region is highly aware about the benefits provided by bio-lubricants, so the government of many countries such as U.S. are supporting for the use of bio-lubricant products. For instance; the U.S. Air Force is encouraging plant-derived biodegradable products as a strategic & fundamental approach to national security. In addition, North America is also likely to benefit from an abundance of soybean & rapeseed feedstock as a result of high biodiesel production in the region. For example; The United States Department of Agriculture (USDA) estimates that the production of vegetable oils in 2016/17 will be at 185.72 million metric tons, its highest quantity ever. This increasing production of vegetable oil in turn drive the market of bio lubricants.

Asia-Pacific is expected to emerge as a fastest growing region in the global bio-lubricants market due to favorable government regulations and affordable labor cost and trend of sustainable vehicles with greater efficiency. Emerging economies like India and China is expected to further increase automotive spending and industrialization as there is an increasing trend of vehicles with high efficiency and it is anticipated to boost the production & demand for bio-lubricants into the region. Moreover, research and development to indorse lubricant applications and awareness, as well as investments in the automotive sector, is driving the demand of bio-lubricants into the region. For example, according to IBEF (Indian Brand Equity Foundation) in August 2021, Hindustan Zinc Ltd. announced about one billion USD investment across its eight mines to replace diesel-powered trucks and equipment with battery EVs. These investments in the automotive sector further augment the growth of the global bio-lubricants market in the Asia-Pacific region.

On Special Requirement Bio-lubricants Market Report is also available for below Regions and Country:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Key Benefits of the Global Bio-lubricants Industry:-

• Global Bio-lubricants Industry report covers in-depth historical and forecast analysis.
• Global Bio-lubricants Industry research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
• Global Bio-lubricants Industry report helps to identify opportunities in the marketplace.
• Global Bio-lubricants Industry report covers an extensive analysis of emerging trends and the competitive landscape.