Global Biolubricants Market by End-Use (Consumer Automotive, Industrial, Commercial Transportation), by Raw Material (Vegetable & Animal Oil), by Application (Automotive, Industrial) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Due to increased use in the manufacturing and transportation industries, the global market for bio-lubricants is expected to experience significant growth. Due to strict emission guidelines and regulatory framework, there is a growing demand for superior product characteristics, such as high flash points, constant viscosity, biodegradability, and low emission levels. This has led to favorable growth in many industrial applications.

The combination of technological innovation and increased R&D efforts by key players is expected to open new avenues for lubricant application. The market is also fueled by the availability of green base oils that are high-performance and competitively priced, as well as government regulations. These factors are not the only ones driving the demand for lubricants. In North America and Europe, there is a growing environmental concern and strict government regulations regarding synthetic lubricants.

In addition to the expansion of the automobile sector in emerging countries like India, China, South Africa, and Brazil, sustainable products will also be favored. These products contribute to lower fuel consumption and carbon emissions.

The supply of vegetable and animal oils from other industrial processes is a key factor in the production of biolubricants. Complex processing technologies can also raise the production cost, which could limit its growth in the future.

" Vegetable oils was the predominant raw material for lubricants production during 2015"

Because they are structurally identical to long-chained hydrocarbons found within mineral oils, plant-based oils can be used as a replacement for conventional mineral oils. Because of their advantages such as non-toxicity, economic and environmental friendliness, and renewability, these oils are increasingly being used for bio lubricant production. Canola, rapeseed and soybean are some of the most commonly used plants.

Segment growth will be boosted by increased R&D efforts to investigate opportunities for biolubricant formulation via animal oil & fats. These oils and fats have a lot of potential for sectors that rely on petrochemical lubricants like healthcare.

Application Insights

Two major applications make up the global market for bio-lubricants: automotive and industrial. In 2015, the former occupied more than 56% of global volume share. Automotive engine oils dominate this market, as they offer superior performance to conventional oils. Bio-based engine oils have a higher intrinsic biodegradation rate and low toxicity to aquatic animals, which are encouraging their use in this sector.

One of the most important applications of biolubricants is also transmission fluids. These fluids improve the performance of brake bands friction, valve operation and gear lubrication. They also enhance torque conversion. These fluids can also be used as hydraulic fluids or lubricants for power steering and 4WD transfer case respectively. The market will benefit from an increase in transmission fluid use in automotive manufacturing.

A significant share of the industrial applications segment was occupied by process oils. These oils are used in the technical and chemical industries to enhance production processes. These oils will be consumed more frequently as there is a growing demand for specialty chemicals within emerging economies in Asia Pacific.

End-Use Information

Commercial transportation was responsible for 43% of global volume in 2015. This is due to increasing awareness about fuel efficiency and maintenance in light-duty and heavy-duty trucks. These lubricants have enjoyed high popularity because they are directly related to improving vehicle quality and reducing environmental impact.

The consumer segment has also seen a rise in passenger car sales in emerging countries. Consumers are increasingly investing in advanced technologies & performance-enhancing products to comply with fuel efficiency regulations. The private sector, as well as many automobile companies working to produce ultra-low emissions vehicles that meet transitioning regulations standards, will also be expected to increase the demand for biolubricants in the forecast period.

Regional Insights

With a 34.98% volume share, North America held a large portion of the market in 2015. Bio-based lubricants will be more popular due to a revitalized American and Canadian automotive industry, as well as increased regulatory intervention by the U.S. government which has set minimum renewable content for different products.

The U.S. Air Force encourages plant-derived biodegradable product development as a fundamental approach to national security. This is another driver for the market. North America will also benefit from the abundance of soybean and rapeseed feedstock due to high biodiesel production.

Asia Pacific was the fastest growing region because it is home to many of the largest automotive manufacturing centers other than those in developed countries like the U.S. or Germany. Countries like Thailand, India, Indonesia and China are increasing their exports of passenger cars to the developed world.

Automotive spending will rise and industrialization will be accelerated by the shift of production facilities from developed countries to Asian countries due to their favorable labor regulations and low labor costs. A shift towards more sustainable vehicles is expected to increase the demand and production of biolubricants in this region. Over the forecast period, regional demand will be supported by innovation and R&D investments in novel lubricant applications.

Market Share in Biolubricants

The industry is still in a very early stage of development but highly consolidated by the majority of top companies, including Total S.A. and UBL, Shell ExxonMobil, Chevron, Chevron, Chevron, Chevron, British Petroleum.

Major oil refineries, which have been traditionally involved in traditional lubricant production, are now increasingly supplying biodegradable oils for transportation applications. Most suppliers, except for the ones mentioned above are small companies that focus only on R&D in biolubricants.

There are many other players in the market, including Castrol, Petronas Lubricant International and Kluber International.

Market Report Scope for Biolubricants

These are the most frequently asked questions about this report

b. Global biolubricants market was valued at USD 2.18 billion in 2019, and is projected to grow to USD 2.28 billion by 2020.

b. Global biolubricants are expected to grow at a compound annual rate of 5.2% between 2016 and 2024, reaching USD 2.93 billion in 2024.

b. With a 36.6% share in 2019, North America dominated biolubricants. This can be attributed to the increasing regulation by the U.S. government, which has set minimum renewable content for different products.

b. The market for biolubricants includes UBL, Shell and ExxonMobil.

b. Market growth is driven by the superior characteristics of biolubricants, such as high flash points, constant viscosity and biodegradability, which are all key factors.

Up Market Research published a new report titled “Biolubricants Market research report which is segmented by End-Use (Consumer Automotive, Industrial, Commercial Transportation), by Raw Material (Vegetable & Animal Oil), by Application (Automotive, Industrial), By Players/Companies Chevron & British Petroleum, UBL, Shell, Total SA, ExxonMobil”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Biolubricants Market Report Segments:

The market is segmented by End-Use (Consumer Automotive, Industrial, Commercial Transportation), by Raw Material (Vegetable & Animal Oil), by Application (Automotive, Industrial).

Biolubricants Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Biolubricants Market

Overview of the regional outlook of the Biolubricants Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Biolubricants Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Biolubricants Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Consumer Automotive

                2. Industrial

                3. Commercial Transportation

                1. Vegetable & Animal Oil

                1. Automotive

                2. Industrial

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Biolubricants Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
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• Product & Brand Management
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Reasons to Purchase the Biolubricants Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.