Bio-Based Lubricants Market

SKU: DMCH458 | Last Updated On: Nov 10 2022 | Available Formats

> Global Bio-based lubricants Market Expected to reach a high CAGR of 4.5% By 2029: DataM Intelligence

Bio-Based Lubricants Market is segmented By Type (Vegetable Oils, Animal Fats, Others), By Application (Chainsaw Oils, Gear Oils, Greases, Hydraulic Fluids, Metalworking fluids, Mold Release Agents), By End-User Industry (Industrial, Consumer Transport, Consumer Automobile), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share Outlook, and Opportunity Analysis, 2022-2029.

 

Market Overview

[150 Pages Report] The Global Bio-based Lubricants Market is expected to grow at a high CAGR of 4.5% during the forecasting period (2022-2029).

Bio-based Lubricants Market - Strategic Insights

Metrics

Details

Market CAGR

4.5%

Segments Covered

By Type, By Application, By End-User Industry, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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  • Bio-based lubricants are used in heavy machinery and transportation.

  • The principal application includes chainsaw bars, two-stroke engines, railroad flanges, and dust suppressants among others. Bio-based lubricants are renewable & biodegradable and do not persist in the environment for a more extended period.

Industry Trends

  • The increasing oil prices, the depletion of the crude oil reserves in the world, and the demand to protect the environment against pollution caused by conventional lubricating oils and their uncontrolled spillage are some of the significant factors which are expected to boost the Bio-based lubricants market size during the forecast period.

  • Also, the increasing regulations across the globe regarding the use of conventional oils and lubricants and supporting the use of bio-based lubricants are expected to propel the market further.

  • In regions such as North America and Europe, the use of lubricants is governed by stringent regulations for various applications.

  • These regulations which make the use of bio-based lubricants makes mandatory are expected to increase the demand for bio-based lubricants during the forecast period.

  • Bio-based lubricants are expensive compared to conventional oils. Thus, the relatively high cost of bio-based lubricants can impede the growth of Global Bio-based lubricants during the forecast period.

Market Segmentation

  • Bio-based lubricants Market Size is segmented based on the type such as Vegetable Oils, Animal Fats, and Others. Vegetable Oil is the dominant raw material type for Bio-based lubricants.

  • Vegetable Oils have a high potential to substitute mineral oils as they are structurally similar to mineral oils.

  • They are renewable, non-toxic, economical & environment-friendly, because of these characteristics vegetable oils are increasingly being used for bio-based lubricants.

  • Further, the market is segmented based on applications such as Chainsaw Oils, Gear Oils, Greases, Hydraulic Fluids, Metalworking Fluids, Mold Release Agents, Two-Cycle Engine Oils, and other forms. In applications, Hydraulic fluids are expected to dominate the market during the forecast period.

  • Hydraulic fluids are the medium through which power is transferred in hydraulic systems. They are also used for heat transfer, contaminant removal, and lubrication.

  • Also, the market is classified based on end-use such as Industrial, Consumer Transport, and Consumer Automobile. Consumer Transport is the primary segment in the end-user section.

Regional Share

  • The report segments the market by geography as North America, South America, Europe, Asia-Pacific, and the Rest of the World. North America and Europe mostly dominate the market for Bio-based lubricants.

  • It is because of the existing stringent regulations in these regions which renders the use of bio-based lubricants is mandatory.

  • European Commission’s European Ecolabels has laid down the standard specifications for bio-based lubricants and rigorous rules which emphasize the use of bio-based lubricants.

  • Western Europe contributes majorly to European bio-based lubricants, with Germany being the largest market for bio-based lubricants. This is primarily due to the growth in end-user industries in this region.

Key Companies

  • The Global Bio-based lubricants market report profiles the following companies-

  • Albemarle Corporation, BP PLC, Chevron Corporation, Emery Oleochemicals, ExxonMobil Corporation, Fuchs Petrolub AG, Klüber Lubrication München SE & Co. Kg, Panolin AG, Royal Dutch Shell PLC, and Total SA.

FAQ

What is the Bio-based Lubricants Market growth?

The market is growing at a CAGR of 4.5%.

What is the Bio-based Lubricants Market size in 2021?

The Market size was valued at USD YY million in 2021.

Who are the key players in the Bio-based Lubricants Market?

Albemarle Corporation, BP PLC, Chevron Corporation, Emery Oleochemicals, ExxonMobil Corporation, Fuchs Petrolub AG, Klüber Lubrication München SE & Co. Kg, Panolin AG, Royal Dutch Shell PLC, and Total SA.

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