Global Bio Lubricant Market, By Base Oil (Vegetable oil, Animal fat, Others), By Application (Automotive Oils, Hydraulic Oil, Process Oil, Demolding Oils, Lubricating Greases, Others), By End-use Industry (Industrial, Commercial Transport, Consumer Automobile), and opportunities and forecast 2020-2027
Bio Lubricants Market Overview
Triglyceride esters generated from animal and plant oils are used to make bio-based lubricants, which are manufactured with renewable and biodegradable base stocks. They can be made from a variety of natural sources, including low-grade and solid fats, as well as waste materials, but they are mostly made from vegetable oils. When bio-based lubricants are used instead of mineral oils, pollution is reduced.
The demand for more environmentally friendly alternatives to synthetic lubricants is driving the global market for Bio Lubricants. Additionally, one of the main causes for the expansion of bio-based lubricants is the increasing regulatory pressure on synthetic lubricants.
On the negative side, one of the primary barriers to the growth of the Bio Lubricants market is higher pricing. The cost of a bio-based lubricant is 1.5 to 2 times that of a mineral oil lubricant, making market penetration a major concern. A key roadblock to the expansion of the Bio Lubricants market, particularly in emerging nations, is a lack of public understanding about the benefits of bio-based lubricants.
Covid-19 Impact on Bio Lubricants Market
|Market size available for years
|Base year considered
||Value (USD Million)
||Base Oil, Application, End-use Industry, and Region.
||North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA)
||Royal Dutch Shell, Exxon Mobil, British Petroleum, Chevron, Castrol, Total, United Bio Lube, and Statoil Lubricants.
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.Bio Lubricants Market Segment Overview
According to Base Oil, the Vegetable Oil segment is expected to be the largest market for bio-lubricants. The vegetable oil segment's leading market position can be due to its high biodegradability, low toxicity, and high lubricity. The abundance of vegetable oil seeds, which are utilized as raw materials, can also be contributed to the growth. Moreover, the Industrial segment is projected to be the largest end-user of bio-lubricants. The marine industry, as well as agriculture and construction, are included in the industrial segment. These are the two industries that use the most bio-lubricants.
Bio Lubricants Market, By Base Oil
· Vegetable oil
· Animal fat
Bio Lubricants Market, By Application
· Automotive Oils
· Hydraulic Oil
· Process Oil
· Demolding Oils
· Lubricating Greases
Bio Lubricants Market, By End-use Industry
· Commercial Transport
· Consumer AutomobileBio Lubricants Regional Overview
The global Bio Lubricants market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America holds the largest share of the global Bio Lubricants market. Europe is the second largest region for the global market. According to the analysis, Germany will continue to play a significant role in increasing bio lubricant demand in the European market in the coming years. Furthermore, the market in the Asia Pacific is expected to grow at a considerable rate in the coming years.
Bio Lubricants Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA) Bio Lubricants Market, Key Players
· Royal Dutch Shell
· Exxon Mobil
· British Petroleum
· United Bio Lube
· Statoil Lubricants
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the global Bio Lubricants market?
A. The demand for more environmentally friendly alternatives to synthetic lubricants is driving the global market for Bio Lubricants.
Q2. What are the restraining factors for the global Bio Lubricants market?
A. One of the primary barriers to the growth of the bio-based lubricants market is higher pricing
Q3. Which segment is projected to hold the largest share in the global Bio Lubricants market?
A. The vegetable Oil segment is projected to hold the largest share in the global Bio Lubricants market.
Q4. Which region holds the largest share in the global Bio Lubricants market?
A. North America holds the largest share in the global Bio Lubricants market
Q5. Which are the prominent players in the global Bio Lubricants market?
A. Royal Dutch Shell, Exxon Mobil, British Petroleum, Chevron, Castrol, Total, United Bio Lube, and Statoil Lubricants. are some key players in the global Bio Lubricants market