The global biolubricants market size is expected to reach USD 3.73 billion by 2030, registering a CAGR of 5.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing passenger car sales in emerging economies is one of the major drivers of industry expansion in recent years. The favorable regulatory framework is expected to encourage the production & consumption of bio-based lubricants over the forecast period. The U.S. EPA has implemented regulations that require all marine vessels to obtain the mandatory Vessel General Permit (VGP) for plying in the U.S. waters & also utilize environment-friendly, acceptable lubricants in all oil-to-sea interfaces.
Various environmental issues associated with conventional lubricants are driving the demand for vegetable & plant-based lubricants. The product segment is anticipated to benefit from the growing demand from industrial & transportation sectors in developed regions.
Vegetable oil was the leading raw material used for biolubricants with a commanding share of 88.1% in 2015. They are also expected to witness the highest growth of 7.6% over the forecast period.
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Increasing cost competitiveness of advanced biolubricants, specifically on account of high crude oil prices in the future, is a significant factor driving their demand in automotive applications
Automotive engine oils dominate the industry, since these oils exceed the performance of conventional engine oils Developments resulting in better oxidation resistance of vegetable oils and improved functionality are expected to drive the segment growth
North America dominated the biolubricants market and accounted for the largest revenue share of 35.2% in 2022. The region is technologically mature compared to others such as Asia Pacific, Latin America, and the Middle East.
Regulations have played a huge role in shaping the consumer base for bio-based products in the U.S. Currently, the U.S. accounts for nearly 80% of the North American market in terms of volume.
Grand View Research has segmented the global biolubricants market based on source, end-use, application, and region:
Biolubricants Source Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)
Vegetable Oil
Animal Oil
Biolubricants End-Use Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)
Industrial
Commercial Transportation
Consumer Automotive
Biolubricants Application Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)
Transportation
Automotive Engine Oils
Gear Oils
Hydraulic Oils
Transmission Fluids
Greases
Chainsaw Oils
Others
Industrial
Process Oils
Demolding Oils
Industrial Gear Oils
Industrial Greases
Metal Working Fluids
Others
Biolubricants Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Netherlands
Russia
Asia Pacific
China
Japan
India
Southeast Asia
South Korea
Central & South America
Brazil
Argentina
Middle East and Africa
Saudi Arabia
South Africa
List Of Key Players Biolubricants Market
TotalEnergies
Exxon Mobil Corporation
Shell plc
CASTROL LIMITED
PETRONAS Lubricants International
Kluber Lubrication
Emery Oleochemicals
Chevron Corporation
Albemarle Corporation
FUCHS
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