Bio-Lubricants Global Market Report 2024

Bio-lubricants serve as an alternative lubricant for industrial and maintenance applications due to their superior inherent qualities. These functional fluids are derived from vegetable oils and downstream esters, using raw materials such as rapeseed oil, sunflower oil, palm oil, coconut oil, and animal fats. Bio-lubricants offer several advantages over conventional petroleum-based products, including being non-toxic, renewable, carbon-neutral, and environmentally friendly. They are also commonly referred to as bio-lubes.

The primary types of base oils in bio-lubricants include vegetable oil, animal fat, and others. Vegetable oil, with lubricating properties similar to mineral oil-based lubricants, finds applications in various areas such as hydraulic oil, metalworking fluids, chainsaw oil, mold release agents, two-cycle engine oils, gear oils, greases, and more. These bio-lubricants are utilized across industrial, commercial transport, consumer automobiles, and other end-user sectors.

The bio-lubricants market research report is one of a series of new reports that provides bio-lubricant market statistics, including bio-lubricant industry global market size, regional shares, competitors with a bio-lubricant market share, detailed bio-lubricant market segments, market trends and opportunities, and any further data you may need to thrive in the bio-lubricants industry. This bio-lubricants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The bio-lubricants market size has grown strongly in recent years. It will grow from $2.89 billion in 2023 to $3.06 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. During the historic period, the growth of bio-lubricants can be attributed to various factors, including the influence of environmental regulations and policies, heightened concerns about climate change and pollution, increased awareness of health hazards associated with conventional lubricants, a growing demand for sustainable and renewable products, and the expansion of industries subject to stringent environmental standards, such as marine and agriculture.

The bio-lubricants market size is expected to see strong growth in the next few years. It will grow to $3.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. In the forecast period, the growth of bio-lubricants can be attributed to several factors, including an increasing focus on the circular economy and recycling, government incentives and subsidies for green technologies, a rising adoption of bio-lubricants in automotive and transportation industries, growing consumer awareness and demand for eco-friendly products, and the market penetration of bio-lubricants in emerging economies. Major trends in this period include advancements in bio-based feedstock and technology, the development of high-performance bio-lubricants, the use of bio-lubricants for electric vehicles, and the application of bio-hydraulic fluids and bio-based metalworking fluids.

The bio-lubricants market is anticipated to experience significant growth, driven by increasing environmental awareness. Environmental awareness involves a heightened understanding of the natural environment and the impact of individual choices on its well-being. This awareness is proving instrumental in the expansion of the bio-lubricant market due to the favorable properties of bio-lubricants, such as high viscosity indexes, elevated flashpoints, good shear resistance, and high biodegradability. A survey conducted by Mastercard across 24 countries found that 58% of adults were conscious of their environmental impact in 2021. Furthermore, 85% of respondents expressed a willingness to take personal action to address environmental and sustainability issues. This growing environmental awareness is a driving force behind the increasing adoption of bio-lubricants.

The lubricants market is expected to witness growth propelled by the expanding automotive industry. The automotive sector encompasses a wide range of activities related to the design, development, manufacturing, marketing, sale, and maintenance of motor vehicles. Bio-lubricants play a crucial role in this industry, requiring careful consideration of specific requirements and compatibility with vehicle components. According to a report by the European Automobile Manufacturers' Association (ACEA), 85.4 million motor vehicles were produced worldwide in 2022, marking a 5.7% increase over the previous year. The International Organization of Motor Vehicle Manufacturers reported that the total production of cars and commercial vehicles rose from 80,145,988 in 2021 to 85,016,728 in 2022. This growth in the automotive industry is contributing to the demand for lubricants.

In the bio-lubricants market, a key trend gaining prominence is product development. Major companies operating in this market are actively engaged in creating new and advanced products to solidify their positions. For example, in January 2023, Kluber Lubrication, a U.S.-based chemical manufacturing company, introduced specialty lubes tailored for the oil and gas industry. These lubricants are designed to withstand the harshest environmental conditions, including exposure to saltwater, rain, wind, and extreme temperatures. The unique formulation of these lubricants, developed after extensive research and development in India, offers advantages such as low lubricant consumption, reduced downtime due to maintenance and repair, and prolonged component life. This emphasis on product development reflects a broader trend within the bio-lubricants market.

Prominent companies in the bio-lubricants market are actively involved in the development of innovative products, exemplified by offerings like Clarity Synthetic EA Grease 0, to drive market revenues. Chevron, a USA-based petroleum refinery company, introduced Clarity Synthetic EA Grease 0 in July 2022. This anhydrous calcium thickened lubricating grease is based on biodegradable synthetic esters, making it a high-performance solution suitable for various marine applications. The product is formulated with antioxidants, corrosion inhibitors, and Extreme Pressure and Anti-Wear (EP/AW) additives. Its calcium thickener, combined with biodegradable esters, enhances its suitability for lubricating heavily loaded bearings. The grease exhibits excellent adhesion and water resistance, designed for extreme applications in wet and corrosive environments, even at low temperatures.

In August 2021, Mega First Corporation Berhad, a Malaysia-based company, made a significant acquisition by purchasing Emery Oleochemicals and Emery Specialty Chemicals for $8.99 million. This strategic move expands Mega First Corporation Berhad's presence into coconut and other agricultural produce processing portfolios. Emery Oleochemicals, the acquired company, is a US-based biolubricant firm that specializes in offering fatty acids, glycerin and triacetin, ozone acids, plastic additives, and ester-based oilfield chemicals.

Major companies operating in the bio-lubricants market include Binol Biolubricants Ltd., British Petroleum PLC, Cargill Corporation, Chevron Corporation, Royal Dutch Shell PLC., ExxonMobil PLC, Klüber Lubrication München Se & Co. Kg, Statoil Lubricants ASA, TotalEnergies SE, Castrol India Ltd., HollyFrontier Corporation Millers Oils Ltd., Petronas Lubricant International, Renewable Lubricants Inc., Solution Biogen Sdn Bhd, BP PLC, Albemarle Corporation, Fuchs Petrolub AG, Panolin AG, Emery Oleochemicals, Biosynthetic Technologies LLC, RSC Bio Solutions, Green Earth Technologies LLC, BioBlend Renewable Resources LLC, Bio-Lub Canada Inc., Bio-Lubricants Inc., Biofriendly Corporation, BioPure Technology Ltd., Biosynthetic Technologies LLC, Carl Bechem GmbH, Croda International plc

North America was the largest region in the bio-lubricants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bio-lubricants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the bio-lubricants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The biolubricant market consists of sales of vegetable oils, animal products, esters. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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