Bio Based Lubricants Market Overview:
Bio-based lubricants market was $1,924 million in 2015 and is expected to reach $2,799 million by 2022, registering a CAGR of 5.3% during 2016 - 2022.
The report focuses on the global bio-based lubricants market as well as its applications such as hydraulic fluid, metal working fluids, greases, high performance oils, penetrating lubricants, food grade lubricants, and similar others. The report highlights numerous factors that influence the market, such as forecast, trends, drivers, restraints, opportunities, and the role of different key players. In addition, the report focuses on the sources of different bio-based lubricants such as vegetable oil and animal fat. It presents data in terms of both value and volume by putting efforts on.
We refer a broad array of industry sources for our secondary research, which typically include (however, not limited to): Company SEC filings, annual reports, company websites, broker & financial reports, investor presentations for competitive scenario, and shape of the industry. In addition, we have reached various industry leaders across the globe to understand the market dynamics of bio-based lubricants.
Bio-based lubricants are used in heavy machineries where total loss of lubricants into environment is more. The major application of bio-based lubricant includes two-stroke engines, rail road flanges, chainsaw bars, and dust suppressants among others. In addition, bio-based lubricants outstrips petroleum lubricants, therefore, comparatively less amount is required as compared with traditional lubricants. Bio-based lubricants are renewable & biodegradable in nature and do not persist in the environment for a longer period of time.
Global Bio-Based Lubricants Market Segmentation
The global market is segmented on the basis of raw material, end-user industry, application, and geography. Based on the raw material, it is classified into lubricants produced from vegetable oils or animal sources. According to the end-user industry, the segmentation includes transportation and industrial. Bio-based lubricants have various applications such as hydraulic fluid, metal working fluids, greases, high performance oils, penetrating lubricants, food grade lubricants, and many others.
The major factors that drive the global market for bio-based lubricants are stringent government regulations on the use of petroleum based lubricants, volatile prices of crude oil, and tax incentives. However, the higher prices of bio-lubricants in comparison to other petroleum based oils will hamper the growth of the global bio-based lubricants market.
Factors Driving the Bio-Based Lubricants Market
Geographically, the market is segmented across North America, Europe, Asia-Pacific, and LAMEA. Europe and Asia-Pacific are the largest bio-based lubricants consumers due to the ongoing R&D activities in this field and stringent government regulations against the use of conventional lubricants.
Global Bio-Based Lubricants Market, by Geography
Germany accounted for the highest market share of bio-based lubricants in the European market. Germany generated a revenue of $118 million in the year 2015, and is expected to reach $157 million by the end of 2022, growing at a CAGR of 4.0% throughout the forecast period.
Germany Bio-Based Lubricants Market Revenue, 2014‐2022
The key players of the bio-based lubricants are profiled in the report. These include Total S.A. (France), Exxon Mobil Corporation (U.S.), Royal Dutch Shell plc (Netherlands), Chevron Corporation (U.S.), BP p.l.c. (UK), Renewable Lubricants, Inc. (U.S.), Panolin AG (Switzerland), Environmental Lubricants Manufacturing, Inc. (U.S.), BioBlend Renewable Resources, LLC (U.S.), and Houghton International, Inc. (U.S.).
Other players in the value chain includes Ineos Bio, GreenHunter, Brasil Ecodiesel, Archer Daniel Midland Co., Infineum International Ltd., Tianhe Chemicals Group, Evonik Industries Ag, Croda International Plc, and The Lubrizol Corporation.
Bio-Based Lubricants Market Key Benefits
- The report provides an extensive analysis of the factors that drive as well as restrain the growth of the global bio-based lubricants market.
- The market projections from 2014 to 2022 are included along with the impacting factors are mentioned in the report.
- The report also provides quantitative as well as qualitative trends to assist the stakeholders understand the market scenario.
- In-depth analyses of the key segments of the market demonstrate the consumption of bio-based lubricants in different applications across different end-user industries.
- Competitive intelligence highlights the business practices adopted by the leading market players across various geographies.
Bio-Based Lubricants Market Key Segments
BY RAW MATERIAL
- Vegetable Oils
- Animal Fat
BY END-USER INDUSTRY
- Hydraulic Fluid
- Metal Working Fluids
- High Performance Oils
- Penetrating Lubricants
- Food Grade Lubricants
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA
MARKET PLAYERS IN VALUE CHAIN
- Ineos Bio
- Brasil Ecodiesel
- Archer Daniel Midland Co.
- Infineum International Ltd.
- Tianhe Chemicals Group
- Evonik Industries Ag
- Croda International Plc
- The Lubrizol Corporation