Bio-Lubricant Market Size, Share, Segments, Growth 2022 - Total S.A, Exxon Mobil, Royal Dutch Shell PLC, Chevron Corporation, Kluber Lubrication München Se & Co, Albemarle Corporation, Emery Oleochemicals, Panolin AG, Binol Bio Lubricants, Castrol

Market Scenario

The Global Bio-Lubricants Market is presumed to garner USD 3.50 billion during the forecast period (2016-2022). The market is anticipated to expand at 7.2 % CAGR owing to the development in the automobile sector, asserts Market Research Future (MRFR). Also known as bio-lubes, bio-lubricants are produced from rapeseed oil, animal fats, sunflower oil, and others. Bio-lubricants are high in demand as they are non-toxic, biodegradable, environmentally friendly, and renewable in nature. They have several applications such as automotive engine oil, greases, chainsaw oil, and others.

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Industry Updates

October 29, 2018: Evofuel Ltd., a wholly owned subsidiary of Evogene Ltd. has focused on securing the demand for stable castor oil supply globally. A leading distributor and manufacturer of agricultural equipment, Fantini s.r.l., has recently announced the successful development of a mechanical harvesting solution for castor bean plants.

Competitive Dashboard

The noteworthy players operating the global market are Binol Bio Lubricants, Kluber Lubrication München Se & Co, Emery Oleochemicals, Exxon Mobil, Royal Dutch Shell PLC, Total S.A, Castrol, Chevron Corporation, Panolin AG, Albemarle Corporation, and others.

Drivers and Constraints Impacting the Market

Bio-Lubricants are popular and are easily manufactured by using vegetable oil such as coconut, soya bean, rapeseed, canola, etc. The market is developing consistently with the increasing sales of vehicles. With the growing sales in passenger cars in emerging economies, the market is likely to expand at a rapid pace. The development in the automobile sector has resulted in the increasing demand for grease, engine oil, and chainsaw oil. Additionally, growing research and development activities coupled with strict government mandates associated with environment safety is considered to boost the market globally during the assessment period.

On the flip side, with the increasing price of petroleum, the global market for Bio-Lubricant is presumed to retard during the estimated period. Moreover, fluctuating prices in crude oil are likely to hinder the market growth.

Global Bio-Lubricants Market: Segmental Analysis

The Bio-Lubricants Market has been segmented on the basis of Type, Application, End-User and Region.

By mode of Type, the Global Bio-Lubricants Market has been segmented into edible and non-edible oil, and animal oil. The market for edible and non-edible oil holds the largest share owing to its wide adoption in both industrial as well as household applications.

By mode of Application, the Global Bio-Lubricants Market has been segmented into engine oil, automotive, hydraulic fluids, process oil, grease, metalworking fluids, and chainsaw oil. Among these, the segment for hydraulic fluids is presumed to hold the largest market share as they are extensively used as a medium for transferring energy and power in the hydraulic systems.

By mode of End-User, the Global Bio-Lubricants Market has been segmented into construction, automotive industry, commercial transportation, and others. Among these, commercial transportation is considered to be the fastest-growing market during the assessment period owing to the concern raised due to the disposal of mineral-based lubricants into the environment.

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Regional Insights

Geographically, the Bio-Lubricants Market span across regions namely Europe, North America, Asia Pacific, and Rest-of-the-World.

Among all the regions, North America is presumed to dominate the global market owing to the strict government mandates for using conventional lubricants in agriculture, marine, and others. Such regulations from the government are expected to push the use of bio-lubricants in marine, agriculture, and other industries. The United States is the largest consumer of bio-lubricants for hydraulic fluids application.

Asia Pacific is considered to expand at a significant rate during the assessment period. On the other hand, consumption of conventional lubricants is likely to maintain its dominance in this region due to the absence of strict regulations from the government and price difference between bio-based and petroleum-based lubricants.

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