Bio-Lubricant Market Industry Analysis, Size, Share, Trends, Revenue

The global bio-lubricants market size is projected to grow from an estimated USD 2.47 billion in 2017 to reach USD 3.36 billion by 2022 at a CAGR of 6.4% during the period. Increasing stringent regulations such as EPA’s Vessel General Permit and USDA’s BioPreferred Program are creating opportunities for bio-lubricant market players in the US. In addition, emerging applications of bio-lubricants, such as transformer oil and two- and four-cycle engine oils are expected to present significant opportunities going forward.

Download FREE PDF Sample Report at https://www.marketsandmarkets.com/pdfdownload.asp?id=17431466

New product developments and agreements & collaborations were the most preferred strategies adopted by major players in the bio-lubricants market between January 2012 and February 2018. Kluber Lubrication (Germany) has launched most of its new products during this period. Companies adopted this strategy to develop new and advanced products to strengthen their product portfolios and cater to the growing needs of consumers in the US and European countries. The bio-lubricants market is currently in the nascent phase in regions, such as APAC, South America, and the Middle East & Africa. Various R&D activities are being carried out in the market to develop products with better technical specifications and priced competitively against mineral oil-based lubricants. Chevron (US), BP (UK), Emery Oleochemicals (Malaysia), and Clarion Lubricants (US) are some of the manufacturers actively involved in R&D.

Expansions was the second most adopted strategy between January 2012 and February 2018. Companies adopted this strategy to strengthen their geographical reach and cater to increasing demand. Emery Oleochemicals was the most active company in adopting expansions as its key strategy.

Kluber Lubrication is a subsidiary of Freudenberg Chemical Specialties. The company develops and manufactures specialty lubricants. Its products include release agents, special pastes, bonded coatings, corrosion inhibitors, lubricating oils and greases, lubricant dispensers, lubricating waxes, and lubricant sprays. Its bio-lubricants are used in various end-use applications. The company offers its bio-lubricants under the brand, Kluberbio. The company has a wide network of sales and production sites in a number of countries, such as Australia, Brazil, Chile, Belgium, China, Argentina, Denmark, France, the UK Germany, Italy, Japan, India, Malaysia, Mexico, Poland, Singapore, the Russian Federation, Austria, the US, Korea, Switzerland, Turkey, Spain, Thailand, South Africa, and the Czech Republic.

ExxonMobil launched the Mobil SHC Aware HS (Hydraulic System) Series hydraulic oils, which provide protection in challenging marine operating environments and meet VGP requirements for EAL, in 2018. This is expected to provide the company a competitive advantage over others in the bio-lubricants market for marine applications.

Emery Oleochemicals develops and markets high-quality natural-based chemicals. Emery has manufacturing units and sales & marketing offices in APAC, Europe, and North America. The company has an extensive distribution network in more than 50 countries and focuses on organic growth strategies to increase its existing market share.

Emery Oleochemicals launched DEHYLUB 4105 in 2017 and DEHYLUB 4100, and DEHYLUB 4071 in 2014. These bio-lubricants offer high viscosity and lubrication and low pour point in extreme temperature and pressure conditions. These natural-based chemicals are designed for metalworking fluids, chain lubricants, hydraulic fluids, and grease applications and were launched to cover a wide range of applications. Along with new product developments, the company has strengthened its position in the US and Germany through expansions.

The global bio-lubricants market size is projected to reach USD 3.36 billion by 2022, growing from an estimated USD 2.47 billion in 2017 at a CAGR of 6.4% during the forecast period. Stringent environmental regulations in countries, especially the US, Germany, France, Switzerland, and Austria are expected to drive the bio-lubricants market. This market intelligence report on the Global Bio-lubricants Market: 2017–2022 makes an effort to estimate the market for bio-lubricants by base oil type, application, end use, and region in terms of both, value and volume. Bio-lubricants find applications in hydraulic fluids, metalworking fluids, chainsaw oils, mold release agents, two-cycle engine oils, gear oils, greases, and other applications.

Environmental concerns regarding the detrimental effects of mineral-based lubricants are high in developed markets such as North America and Europe. Over 80% of the demand for bio-lubricants is derived from these regions. Specific regulations, such as EPA’s Vessel General Permit and Ecolabels in Europe are driving the market. In addition, The Senate Bill 916 introduced by the California State Senator has mandated end users to consume engine oils for passenger cars, light-duty vehicles with 25% biodegradable content from January 2017 onwards. This is projected to drive the demand for bio-lubricants in the consumer automobiles sector.

In terms of type, the market for bio-based esters, such as trimethylolpropane, pentaerythritol, and neopentylpolyol are projected to be the fastest-growing, by volume. Bio-based ester oils are suitable for the production of high-performance lubricants. Bio-lubricants derived from bio-based synthetic ester oils deliver equal or superior performance to that provided by mineral oil-based lubricants. Bio-based synthetic esters can also be mixed with mineral oils to achieve much better CO2 balance than that provided by pure mineral oil-based lubricants.

Hydraulic fluids are projected to be the fastest-growing application in terms of volume, during the forecast period. Hydraulic fluids are used in moving mechanical parts, cylinders in bridges and locks, elevators, and other fluids. In the US and Canada, more than 75% of the elevators work on the principle of hydraulic fluids, which has a substantial market potential for bio-lubricants. A modified variant of bio-lubricants is being developed which is expected to remain in the liquid form even at low temperatures with high oxidative stability. These lubricants have a long lifespan, and therefore are expected to witness increasing use in low-temperature applications. This is driving the hydraulic fluids application segment of the bio-lubricants market.

North America is the fastest-growing region in the bio-lubricants market. Vessel General Permit imposed by the US EPA and new product launches for various applications by leading manufacturers are expected to influence the demand for bio-lubricants in North America during the forecast period. The major oil refining companies, which are in the conventional lubricants business, are supplying biodegradable lubricants for marine applications. Besides these companies, most of the suppliers are small companies focused only on R&D in bio-lubricants. North America is expected to benefit from the abundance of raw material feedstock, such as soybean in the US and rapeseed in Canada.

Read more context at https://www.marketsandmarkets.com/Market-Reports/biolubricants-market-17431466.html

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

630 Dundee Road
Suite 430
Northbrook, IL 60062

This release was published on openPR.