"We Envision Growth Strategies Most Suited
to Your Business"

Bio lubricants Market Size to Hit $4,514.5 Million by 2027; Increasing Preference for Bio-based Hydraulic Fluids to Stimulate Market Growth

January 14, 2021 | Chemicals & Materials

The global bio-lubricants market size is projected to reach USD 4,514.5 million by 2027 owing to the rising demand for biodegradable materials for making machine-based operations more sustainable, shares Fortune Business Insights™ in its report, titled “Bio lubricants Market Size, Share & Covid-19 Impact Analysis, By Application (Hydraulic Fluids, Metalworking Fluids, Chainsaw Oils, Mold Release Agents, Two-Cycle Engine Oils, Gear Oils, Greases, and Others), By End-use Industry (Automotive and Other Transportation, Metalworking, Mining, Forestry, Marine, Engines, and Others), and Regional Forecast, 2020-2027”. As per the report, the value of the market stood at USD 3,275.7 million in 2019 and the market is expected to register a CAGR of 4.8% from 2020 to 2027.


The bio lubricants market growth is likely to get stalled by the COVID-19 pandemic. The on-going health-economic crisis has dealt multiple blows to the automotive industry due to strict social distancing measures, severe supply chain disruptions, trade and travel bans, and staggered lockdowns by governments. As a result, investment plans and R&D spending of companies have undergone unprecedented upheavals, causing serious strain on this market.


AXEL Launches Biodegradable Heavy-Duty Grease


Axel Christiernsson, the largest grease maker in Europe, announced the release of ALASSCA 762 BD, its newest biodegradable heavy-duty grease, in December 2020. Complying with the Swedish Standard 155470 and the VGP Legislation, ALASSCA has been derived from specially selected biodegradable esters, complementing the company’s existing range of complex greases for applications where sustainability is given high importance. A unique amalgam of non-metallic solids ensures the suitability of the product in heavy-duty activities, such as jack operations, across the marine, heavy industry, and mining industries. Furthermore, the structural strength of ALASSCA empowers it with a superior load-carrying capacity, high resistance to shock loads, excellent mechanical ability, and a superb capacity to withstand corrosive agents.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/bio-lubricants-market-104654


Development of Innovative Lubricant Products Using Vegetable Oils to Stoke Growth


Bio-lubricants derived from vegetable oils are gaining steady traction in various industrial spheres as manufacturing companies accelerate their transition towards sustainable technologies and materials. Vegetable oils are, in most cases, biodegradable and renewable and are thus being considered as a potential substitute to conventional, synthetic lubricants. Innovations based on these naturally-derived oils are already being witnessed. Novvi LLC, for instance, is known for being the first company to develop 100% renewable base oil derived from sugarcane, with the company receiving a certification from the National Sanitation Foundation for its creation. Further, the Catalysis Center for Energy Innovation of the University of Delaware developed feedstock materials extracted from vegetable oils and lignocellulose to produce renewable lubricant base oils for industrial applications. These innovations, based on extensive research, are steadily augmenting the adoption of bio-based lubricants and aiding the global shift towards sustainable development.


Key Players to Entrench Market Presence by Making Strategic Acquisitions


Strategically acquiring smaller companies has emerged as the mainstay feature of the competitive milieu of this market. This strategy is empowering leading players to substantially strengthen their portfolios and leverage new technologies devised by the conquered entities. Moreover, such acquisitions also enable the acquiring company to bolster its research & development capacities, expand its regional and global presence, diversify revenue streams, and establish operations in untapped markets.


Industry Development:



  • December 2019: Shell Lubricants successfully purchased the assets of American Chemical Technologies, a specialist in the manufacturing and distribution of polyalkylene glycol-based chemical formulations. The deal will allow Shell to add American Chemical’s hydraulic fluids and bio-based lubricant products to its offerings as well as acquire American’s manufacturing facilities and pipeline products and technologies.


List of Key Players Profiled in the Bio-lubricants Market Report:



  • IGOL (Geneva, Switzerland)

  • bp p.l.c. (London, UK)

  • Environmental Lubricants Manufacturing, Inc. (Iowa, U.S.)

  • BECHEM (Hagen, Germany)

  • Cargill (Minnesota, U.S.)

  • Exxon Mobil Corporation (Texas, U.S.)

  • FUCHS (Mannheim, Germany)

  • Castrol (Pangbourne, UK)

  • Emery Oleochemicals  (Selangor, Malaysia)

  • Repsol (Madrid, Spain)

  • Klüber Lubrication (Munich, Germany)

  • Cortec Corporation  (Minnesota, U.S.)

  • Axel Christiernsson (Gothenburg, Sweden)

  • Total (Paris, France)

  • Shell (The Hague, Netherlands)

  • PANOLIN AG (Madetswil, Switzerland)


Further Report Findings:



  • North America is expected to lead the bio-lubricants market share during the forecast period on account of the active promotion of adoption of bio-based materials by the US Armed Forces. As a result of this, the marine segment dominated the US market in 2019. The North America market size stood at USD 1,410.3 million in 2019.

  • The engine segment led the market share in 2019 as bio-lubricants are being increasingly utilized for making machinery & equipment in an industrial setting more sustainable.


Table of Segmentation








































ATTRIBUTES    



DETAILS        



Study Period



2016-2027



Base Year



2019



Forecast Period



2020-2027



Historical Period



2016-2018



Unit



Value (USD Million) and Volume (Tons)



Segmentation




 


 



By Application



  • Hydraulic Fluids

  • Metalworking Fluids

  • Chainsaw Oils

  • Mold Release Agents

  • Two-Cycle Engine Oils

  • Gear Oils

  • Greases

  • Others



By End-use Industry



  • Automotive and Other Transportation

  • Metalworking

  • Mining

  • Forestry

  • Marine

  • Engines

  • Others



By Geography



  • North America (Application; End-use Industry)



  • The U.S. (By End-use Industry)

  • Canada (By End-use Industry)



  • Europe (Application; End-use Industry)



  • Germany (By End-use Industry)

  • The UK (By End-use Industry)





    • France  (By End-use Industry)

    • Italy  (By End-use Industry)

    • Spain  (By End-use Industry)

    • Russia & CIS  (By End-use Industry)

    • Rest of Europe  (By End-use Industry)



  • Asia Pacific

    • China  (By End-use Industry)

    • Japan  (By End-use Industry)

    • India  (By End-use Industry)

    • South Korea  (By End-use Industry)

    • ASEAN  (By End-use Industry)

    • Rest of Asia Pacific  (By End-use Industry)



  • Latin America

    • Brazil (By End-use Industry)

    • Mexico  (By End-use Industry)

    • Rest of Latin America  (By End-use Industry)



  • The Middle East & Africa

    • GCC  (By End-use Industry)

    • South Africa  (By End-use Industry)

    • Rest of the Middle East & Africa  (By End-use Industry)




Global Bio lubricants Market
  • PDF
  • 2019
  • 2016-2018
  • 80

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Our Clients

Hunkeler-AG
LEK-LOGO
Repsol_logo
lg-electronics
Huawei-logo
boston_consulting_group_logo_monogram
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X