Bio-Lubricants Market: Global Industry Outlook, Size (US$ 2.73 Billion), Share, Growth (CAGR of 4.1%), Top Companies Analysis and Research Report 2022-2027

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 size reached US$ 2.14 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.73 Billion by 2027, exhibiting a growth rate (CAGR) of 4.1% during 2022-2027.

Bio-Lubricants Market Trends:

The growing consumer awareness towards increasing environmental pollution levels and depleting crude oil reserves is primarily driving the bio-lubricants market. Additionally, the escalating demand for lubricants with superior characteristics, such as biodegradability, high flash points, constant viscosity, low emissions, etc., is further catalyzing the market growth. Besides this, the implementation of stringent regulations by government bodies on the usage of synthetic lubricants is acting as another significant growth-inducing factor. Moreover, unlike petroleum-based oils, bio-based products are free from toxic ingredients as well as aid in reducing the dependence on petroleum, which is positively influencing the global market. Apart from this, continuous technological advancements and extensive investments in R&D activities for creating new avenues for bio-lubricant applications are also propelling the market growth. Furthermore, the introduction of enhanced and advanced extraction processes by key market players is anticipated to fuel the bio-lubricants market over the forecasted period.

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Year Considered to Estimate the Market Size:

Base Year of the Analysis: 2021

Historical Period: 2016-2021

Forecast Period: 2022-2027

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

Industry Definition and Application:

Bio-lubricants refer to triglyceride esters that are prepared by chemical modification of plant-based oils, such as epoxidation, transesterification, and esterification reactions. These lubricants are extensively utilized to reduce friction between various surfaces. In line with this, they are non-toxic, eco-friendly, bio-degradable, renewable, etc., and generally obtained from high oleic canola oil, palm oil, sunflower seed oil, castor oil, rapeseed oil, and tall oil. Consequently, bio-lubricants are widely used in heavy types of machinery, such as railroad flanges, chainsaw bars, two-stroke engines, etc. They are usually required in less quantity during their applications and offer numerous benefits over synthetic and mineral oil-based lubricants.

Key Market Segmentation:

The report has segmented the global bio-lubricants market based on 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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Note: We are updating our reports, if you want the report with the latest primary and secondary data (2023-2028) including industry trends, market size and competitive landscape, etc. click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

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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