Bio-Based Lubricants Industry is Expected to Reach $ 3.6 Billion by 2031 - Albemarle Corporation, Chevron Corporation, Cortec Corporation, Emery Oleochemicals

Global Bio-Based Lubricants Market reached US$ 2.4 billion in 2023 and is expected to reach US$ 3.6 billion by 2031, growing with a CAGR of 5.1% during the forecast period 2024-2031.

As emerging economies industrialize, the demand for lubricants has surged, particularly in the manufacturing, construction, and transportation sectors. Increasing R&D in biolubricants, utilizing animal oils and fats, is expected to drive market growth. Automotive manufacturers are focusing on energy-efficient, high-performance lubricants to enhance fuel efficiency, with Germany producing 4.1 million cars in 2023, an 18% increase from 2022. The rise in vehicle sales boosts demand for bio-based lubricants. North America, with over 20% of the global market, is set to benefit from a revived auto industry and regulatory support for renewable products.

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Market Trends:

New product launches with advanced features and broad applications are key drivers in the lubricants market. Leading companies are expanding their offerings to capture a larger customer base and boost revenue. For instance, in October 2021, Neste partnered with Hesburger to collect waste cooking oil from 300 restaurants for producing bio-lubricants and renewable diesel. Additionally, Royal Dutch Shell announced in March 2020 the expansion of its lubricant production facility in Marunda Center, Indonesia, increasing its capacity to 300 million liters.

Segment Covered in the Bio-Based Lubricants Market:
By Base Oil: Vegetable Oils, Animal Fats, Others
By Application: Greases, Hydraulic Oils, Gear Oils, Metalworking Fluids, Chainsaw Oils, Mold Release Agents, Two-Cycle Engine Oils
By End-User: Industrial, Automotive and Transportation, Mining, Building and Construction

Regional Analysis:
The global bio-based lubricants market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.

The global bio-based lubricants market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The bio-based lubricants market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

Major Key Players
• Albemarle Corporation
• Chevron Corporation
• Cortec Corporation
• Emery Oleochemicals
• Exxon Mobil Corporation
• Fuchs Petrolub SE
• Panolin AG
• Quaker Chemical Corporation
• Royal Dutch Shell PLC
• Total SE

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Gear Oil Market: https://www.datamintelligence.com/research-report/gear-oil-market

Lubricant Anti-wear Agents Market: https://www.datamintelligence.com/research-report/lubricant-anti-wear-agents-market

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