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The global bio-lubricants market reached a value of US$ 2.14 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.73 Billion by 2027, exhibiting at a CAGR of 4.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Bio-lubricants are prepared by chemical modification of plant-based oils, such as epoxidation, transesterification and esterification reactions. These lubricants are widely used to reduce friction between different surfaces. As they are non-toxic, eco-friendly, bio-degradable and renewable, bio-lubricants are utilized in heavy machineries, such as railroad flanges, chainsaw bars and two-stroke engines. Besides this, they are required in less quantity during application and offer several advantages over synthetic and mineral oil-based lubricants. At present, technological advancements, along with increasing research and development (R&D) activities by key participants, are creating new avenues for bio-lubricant applications.
Bio-based lubricants are progressively gaining prominence over conventional petroleum-based oils on account of stringent government regulations and the increasing applications in the power generation and manufacturing industries. Moreover, the escalating demand for lubricants with superior product characteristics, such as biodegradability, high flash points, constant viscosity and lower emission levels, is acting as another growth-inducing factor. Apart from this, the depletion of crude oil reserves across the globe, in confluence with the inflating crude oil prices, has considerably raised the demand for bio-based materials. Other factors such as the growing R&D initiatives, technological innovations, increasing environmental concerns and stringent government regulations on the usage of synthetic lubricants are expected to drive the market in the coming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global bio-lubricants market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on base oil type, application and end use industry.
Breakup by Base Oil Type:
Breakup by Application:
Breakup by End Use Industry:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Albemarle Corporation, BP Plc, Chevron Corporation, Emery Oleochemicals, Exxon Mobil Corporation, Fuchs Petrolub SE, Klüber Lubrication München SE & Co. KG (Freudenberg Chemical Specialities SE & Co. KG), Panolin AG, Polnox Corporation, Quaker Chemical Corporation, Royal Dutch Shell PLC and Total SE.
|Base Year of the Analysis||2021|
|Segment Coverage||Base Oil Type, Application, End Use Industry, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Albemarle Corporation, BP Plc, Chevron Corporation, Emery Oleochemicals, Exxon Mobil Corporation, Fuchs Petrolub SE, Klüber Lubrication München SE & Co. KG (Freudenberg Chemical Specialities SE & Co. KG), Panolin AG, Polnox Corporation, Quaker Chemical Corporation, Royal Dutch Shell PLC and Total SE|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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