Bio-Lubricant Market Size is projected to reach USD 2.80 Billion by 2030, growing at a CAGR of 3.8%: Straits Research

The global bio-lubricants market size was valued at USD 2 billion in 2022 and is projected to reach a value of USD 2.80 billion by 2031, registering a CAGR of 3.8% during the forecast period 2023-2031, North America held the largest bio-lubricants market share.

New York, United States, Jan. 25, 2023 (GLOBE NEWSWIRE) — Bio-lubricants are lubricants with an oil base that are either manufactured from vegetable oil or animal fat. Bio-lubricants are made from vegetable oils such linseed, soybean, rapeseed, canola, palm, and coconut. Vegetable oil is used to make lubricants that are mostly used in environmentally delicate places including woods, rivers, and mountains. The oil gathered as a byproduct of the meat packaging business is utilized as a lubricant in the case of animal fats. Sheep, cow, and hog fats are used to obtain animal fat. Lubricants made of animal fat are used in the chemical and pharmaceutical industries in addition to the processing of petroleum and metals. Lubricants frequently have additives added to them to improve certain properties.

The majority of two-stroke engines, railroad flanges, cables, marine lubricants, chainsaw bars, and chains employ bio-lubricants, which are natural compounds used to lubricate engines. These lubricants are employed in situations where entire lubricant loss occurs (i.e., where the lubricant is either burned or ejected). Additionally, sensitive areas like streams and national parks use bio-lubricants. Bio-lubricants are inexpensive, environmentally benign, renewable, biodegradable, and reduce pollution.

Bio-lubricants can be employed across a broad temperature range because of their high viscosity. They emit less emissions than mineral oils and esters with a wetting propensity, which reduces friction and extends tool life by the same amount or more. Additionally, bio-lubricants offer safety, improved skin compatibility, less oil mist and reduced oil vapor, all of which reduce lung irritation. Because of their high flash point, bio-lubricants don’t easily catch fire.


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Government Regulation and The Growing Acceptance of the Consumers Are Driving the Growth of the Market.

Governments are requiring the use of environmentally friendly lubricants in regions including forests, water bodies, mountains, agricultural grounds, and locations where workers could be harmed by mineral-based oil. For instance, the OECD’s biodegradable standards must be followed when introducing bio-lubricants to the market (Organization for Economic Co-operation and Development). Sustainability is becoming increasingly important to businesses. According to an estimate by the E.U., 3 million tonnes of oil, including lubricating oil, are wasted annually, prompting businesses to switch to bio-lubricants in order to meet sustainability objectives. In addition, the market is being significantly driven by the end-use industries’ increased acceptance of bio-lubricants. Superior bio-lubricants offer greater effectiveness and durability. The development of the market for bio-hydraulic fluids has also been aided by green public policies in the building industry. The increased use of bio-lubricants in the metalworking industry, the automotive industry, and general manufacturing has also become significantly influenced by worker health.

Vegetable oil-based organic lubricants are largely biodegradable and present a potential alternative to conventional lubricants. However, their direct usage as base oils is constrained by their poor low-temperature qualities, low oxidative properties, thermal and hydrolytic stability, and large range of accessible viscosities. Through suitable chemical adjustments, antioxidant-infused formulations, and mineral oil mixtures, these drawbacks can be minimised. They contribute to increased costs, pollution, and decreased biodegradability, though. It is difficult to create bio-based lubricants that are both highly lubricating and biodegradable at a reasonable price.


Report Scope

Report Metric Details
Market Size USD 2.80 Billion by 2031
CAGR 3.8% (2023-2031)
Historical Data 2020-2021
Base Year 2022
Forecast Period 2023-2031
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Base Oil Type, Application, End-User, Region
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Shell International B.V., Exxon Mobil Corporation, B.P., Klüber Lubrication München SE and Co. KG, Pangolin AG, Fuchs Petrolub SE, Biol Bio-lubricants, Total S.A., Emery Oleochemicals Group and RSC Biosolutions, Houghton and Quaker Chemical Co
Key Market Opportunities Green Planet Trends
Key Market Drivers Government Regulations

Growing Acceptance

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Regional Insights

North America is the dominant region and is expected to remain in that position for the duration of the forecast. A revitalized vehicle sector in the United States and Canada is predicted to boost the worldwide market, along with the increased regulatory action by the U.S. government regarding the usage of conventional lubricants. Another market-shaping aspect is the U.S. Air Force’s promotion of plant-derived biodegradable products as a basic and strategic approach to national security. Government investment on bio-lubricants is anticipated to rise, creating enticing market potential in the automotive and maritime sectors. Environmentally friendly lubricants that are non-toxic and non-bio-accumulative were required to be used in oil-to-sea interfaces by vessels flying into and around the United States after the U.S. Environmental Protection Agency implemented the Vessel General Permit (VGP) in 2013. As a result of greater knowledge and use of bio-lubricants, the International Maritime Organization (IMO) decided to start using environmentally friendly lubricants in the Polar area in January 2017.

Strict regulations and the ongoing transition to a bioeconomy in Germany, Italy, the Nordic, Benelux, and France support the usage of bio-based chemicals in Europe. The SS 155434 programme in Sweden, the Blue Angel programme in Germany, and the Ecolabel of the European Union all include policies pertaining to hydraulic fluids and greases. The Nordic Swan, on the other hand, was created by Denmark, Norway, Iceland, Sweden, and Finland, and it has tight requirements for biodegradability, toxicity, technical performance, and renewability. If mineral-based oil is used, there are additional taxes in Italy.

China’s capability for wind energy is rising quickly. In line with its goal of generating 250 GW of wind power, the Gansu wind farm project, currently under construction, is anticipated to achieve 20,000 MW potential by 2020. Given that wind turbines require lubrication, this strongly points to the biolubricant business expanding.

In terms of sustainability, LAMEA is still more liberal than industrialised economies. The market for bio-lubricants will benefit from these economies’ increased enforcement of rules in the coming years due to environmental concerns.


Key Highlights

  • The global Bio-Lubricant market size is projected to reach a value of USD 2.80 billion by 2031, registering a CAGR of 3.8% during the forecast period 2023-2031.
  • Based on oil type, it is further bifurcated into vegetable oil and animal fats.
  • Based on Application, it is sub-segmented into Chainsaw Oils and Hydraulic Fluids, where hydraulic fluids dominate the market.
  • Based on End-use, it is sub-segmented into Industrial, Commercial Transport, and Passenger Vehicles, where Commercial transportation dominates the market.
  • Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. North America dominates the market.

The major players in the market are

  • Shell International B.V
  • Exxon Mobil Corporation, BP
  • Klüber Lubrication München SE and Co. KG
  • Panolin AG
  • Fuchs Petrolub SE
  • Binol Bio-lubricants
  • Total S.A.
  • Emery Oleochemicals Group
  • RSC Biosolutions.


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Global Bio-Lubricant Market Segmentation

By Base Oil Type 

  • Vegetable Oils
  • Animal Fats

By Application 

  • Chainsaw Oils
  • Hydraulic Fluids

By End- Use

  • Industrial
  • Commercial Transport
  • Passenger Vehicles 

By Region

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA


TABLE OF CONTENT

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Bio-Lubricants Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Base Oil Type Overview
    1. Introduction
      1. Market Size & Forecast
    2. Vegetable Oils
      1. Market Size & Forecast
    3. Animal Fats
      1. Market Size & Forecast
  5. Application Overview
    1. Introduction
      1. Market Size & Forecast
    2. Chainsaw Oils
      1. Market Size & Forecast
    3. Hydraulic Fluids
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Base Oil Type
        2. By Application
      3. Canada
        1. By Base Oil Type
        2. By Application
      4. Mexico
        1. By Base Oil Type
        2. By Application
      5. Latin America
        1. By Base Oil Type
        2. By Application
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Base Oil Type
        2. By Application
      3. France
        1. By Base Oil Type
        2. By Application
      4. U.K.
        1. By Base Oil Type
        2. By Application
      5. Italy
        1. By Base Oil Type
        2. By Application
      6. Spain
        1. By Base Oil Type
        2. By Application
      7. Rest of Europe
        1. By Base Oil Type
        2. By Application
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Base Oil Type
        2. By Application
      3. China
        1. By Base Oil Type
        2. By Application
      4. Australia
        1. By Base Oil Type
        2. By Application
      5. India
        1. By Base Oil Type
        2. By Application
      6. South Korea
        1. By Base Oil Type
        2. By Application
      7. Rest of Asia-Pacific
        1. By Base Oil Type
        2. By Application
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Base Oil Type
        2. By Application
      3. South Africa
        1. By Base Oil Type
        2. By Application
      4. Kuwait
        1. By Base Oil Type
        2. By Application
      5. Rest of Middle East & Africa
        1. By Base Oil Type
        2. By Application
  7. Company Profile
    1. Pangolin AG
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Fuchs Petrolub SE
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. Biol Bio-lubricants
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations


Table of Content and Figure @ https://straitsresearch.com/report/bio-lubricants-market/toc


Market News

  • Shell completed selling its share in Malampaya, Philippines, in November 2022.
  • Shell was selected as a partner in the North Field South LNG project in October 2022.
  • ExxonMobil and Pertamina advance regional carbon capture and storage projects in Indonesia in November 2022.
  • On Angola Block 15, ExxonMobil and collaborators made a discovery in November 2022.
  • ExxonMobil announced two discoveries in Guyana in October 2022.
  • The enormous deep-water project by B.P. and Reliance offshore of India will be mostly complete in July 2022.
  • The agreement between PANOLIN and Shell to sell the ECL company was inked in November 2022.


News Media

Increased Adoption of Bio-Based Oil to Fuel the Global Marine Lubricants Market During the Forecast Period, 2019–2026


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