Report ID: 10324863 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Bio-Lubricants Market is valued approximately USD 1.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.1% over the forecast period 2020-2027. Bio-lubricants, also known as bio-lubes, are made up of a range of vegetable oils, such as sunflower, rapeseed, canola, palm, coconut oils, and soybean. The safest application for bio-lubricants in machinery that loses oil during use into the environment. These lubricants are usually environment-friendly and don’t have any toxic impact on the ecosystem. These lubricants often prevent skin inflammation, which is usually caused by petroleum-based lubricants. Besides these benefits, they possess several other inherent benefits, including reduction in energy usage, reduced labor cost, improved environmental conditions, enhanced machine lifespan, and improved employee safety. Therefore, these benefits may act as a major driving force to the growth of the market. Moreover, increasing acceptance of bio-lubricants in several industry verticals, growing environmental awareness, and significant initiatives by market players to promote the demand of bio-lubricant are the few other factors responsible for high CAGR of the market during the forecast period. For instance, in March 2020, Royal Dutch Shell announced the business expansion of their lubricant production facility sited at Marunda Centre in Indonesia. Through this expansion, the company can produce 300-million-liter lubricant production. Similarly, in January 2018, ExxonMobil unveiled Mobil SHC Aware Hydraulic System (HS) Series oils that offers protection in challenging marine operating environments. This, in turns, is expected to boost the demand for bio-lubricants around the world. However, the widespread of COVID-19 pandemic and consequent halt in manufacturing activities have a negative impact on the supply accessibility of raw material of bio-based lubricants and puts restriction on trade that may hamper the market growth in the recent year. Though, the high price of bio-lubricants is one of the major factors limiting the market growth over the forecast period of 2020-2027.
The regional analysis of global Bio-Lubricants market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the presence of significant number of market players, and the ongoing transition towards bioeconomy in countries, such as Germany, Italy, and France. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as presence of large number of automobile manufacturing hubs, coupled with the availability cheap labor and favorable government regulation, which would create lucrative growth prospects for the Bio-Lubricants market across Asia-Pacific region.
Major market player included in this report are:
Royal Dutch Shell PLC
Chevron Corporation
Albemarle Corporation
Fuchs Petrolub SE
Panolin AG
Klüber Lubrication München SE & Co. KG
Emery Oleochemicals Sdn Bhd
RSC Bio Solutions, LLC
Carl Bechem Lubricants India Private Limited
Green Earth Technologies, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Base Oil Type:
Vegetable Oils
Animal Fats
Others
By Application:
Hydraulic Fluids
Metalworking Fluids
Chainsaw Oils
Mold Release Agents
Two-Cycle Engine Oils
Others
By End-Use:
Industrial
Commercial Transport
Consumer Automobile
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Bio-Lubricants Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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Report ID: 10324863 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
