Global bio-lubricant market is expected to grow at a steady rate during the forecast period. The global bio-lubricant market is driven by the increasing environmental concerns. Furthermore, supportive government policies facilitating the use of bio-based lubricants and greener and cleaner base oils is expected to spur the market growth over the next few years. Additionally, these bio-lubricants are eco-friendly, renewable, non-toxic in nature, biodegradable, carbon neutral, among others. These factors are, in turn, expected to positively influence the market growth through 2028. Besides, technological advancements and new product launches by the major players operating in the market is expected to create lucrative opportunities for growth during the forecast period. However, the sudden outbreak of pandemic COVID-19 has led to the shut down in manufacturing and supply of renewables thereby hindering the market growth during the forecast period. Moreover, the high prices of bio-lubricants can further restrict the market growth through 2028.
The global bio-lubricant market is segmented based on base oil, application, end user industry, company and region. Based on base oil, the market can be categorized into vegetable oil, animal fat, synthetic ester and others. The vegetable oil segment is expected to dominate the market since they are highly biodegradable, less toxic, eco-friendly and provide good lubrication. Based on end user industry, the market can be fragmented into automotive, oil & gas, construction, marine, energy & utilities, pharmaceutical, metallurgy and others. The automotive industry is expected to dominate the market owing to the increasing awareness pertaining to fuel efficiency. Additionally, bio-lubricants are highly biodegradable in nature and have low level of bioaccumulation therefore preferred in the automotive industry.
Regionally, the bio-lubricant market
The major players operating in the bio-lubricant market are ExxonMobil, Royal Dutch Shell, Total S.A., Cargill Inc., BP, FUCHS Group, Panolin AG, Magna Group, Polnox Corporation, Albemarle Corporation and others. Major companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. For instance, In March 2022, Royal Dutch Shell announced the expansion of the lubricant production facility located at Marunda Ce2tre, Indonesia.
Objective of the Study
- To analyze and estimate the market size of global bio-lubricant market from 2028 to 2021.
- To estimate and forecast the market size of global bio-lubricant market from 2022 to 2028 and growth rate until 2028.
- To classify and forecast global bio-lubricant market based on base oil, application, end user industry, company and regional distribution.
- To identify dominant region or segment in the global bio-lubricant market.
- To identify drivers and challenges for global bio-lubricant market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global bio-lubricant market.
- To identify and analyze the profile of leading players operating in global bio-lubricant market.
- To identify key sustainable strategies adopted by market players in global bio-lubricant market.
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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of manufacturers across the globe. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the manufacturers which could not be identified due to the limitations of secondary research. Market insights research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
Market insights research calculated the market size of
Key Target Audience
- Bio-Lubricant manufacturers/ suppliers/ distributors
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to bio-lubricant
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
| Attribute | Details |
| Base Year | 2022 |
| Historical Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, Volume in Units and CAGR for 2018-2022 and 2023E-2028F |
| Report coverage | Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Product · Vehicle Type · Application |
| Regional scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
| Country scope | United States, Mexico, Canada, China, India, Japan, South Korea, Australia; Germany, France, United Kingdom, Spain, Italy, South Africa, UAE, Saudi Arabia, Kuwait; Brazil, Argentina, Colombia; |
| Key companies profiled | ExxonMobil, Royal Dutch Shell, Total S.A., Cargill Inc., BP, FUCHS Group, Panolin AG, Magna Group, Polnox Corporation, Albemarle Corporation. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
