About Bio-Based Lubricants
Bio-based lubricants are lubricants derived from bio-based raw materials such as animal fats, vegetable oils, or any other environmentally benign hydrocarbons and used as an alternative to mineral-based lubricants. These lubricants improve the lubricity, biodegradable and less toxic. Bio-based lubricants have many advantages over petroleum-based products such as naturally better lubrication, superior viscosity/pressure performance, better thin-film strength, lower volatility, higher flash point, less smoke and risk of fire. The factors such as High Demand for Bio-Based Lubricants from Power Generation and Stringent Government Rules and Regulations for User of Bio-Based Lubricants are driving the global bio-based lubricants market. The high Cost of Bio-Based Lubricants may affect the market growth. North America and Europe are the two regions accounting for the highest consumption of bio-lubricants due to high environmental awareness among end-users as well as the stringent environmental protection policies.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Bio-Based Lubricants market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BP plc (United Kingdom), Exxon Mobil Corporation (United States), Royal Dutch Shell (Netherlands), Total SE (France), Chevron Corporation (United States), Sinopec (China), DMS Systems Corp. (United States), Cargill, Inc. (United States), Renewable Lubricants Inc. (United States), PANOLIN Group (Switzerland), ConocoPhillips (United States) and Houghton International Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Environmental Lubricants Manufacturing, Inc. (United States) and BioBlend Renewable Resources, LLC (United States).
Segmentation Overview
AMA Research has segmented the market of Global Bio-Based Lubricants market by Type (Gear Oil, Engine Oil, Metalworking Fluid, Transmission and Hydraulic Fluid, General Industrial Oil, Process Oil and Grease) and Region.
On the basis of geography, the market of Bio-Based Lubricants has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Raw Material, the sub-segment i.e. Vegetable Oil will boost the Bio-Based Lubricants market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-user, the sub-segment i.e. Transportation will boost the Bio-Based Lubricants market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Awareness about Environmental Effects of Petroleum Products
Market Growth Drivers:
High Demand for Bio-Based Lubricants from Power Generation and Stringent Government Rules and Regulations for User of Bio-Based Lubricants
Challenges:
Low Performance in Cold Temperatures and Viscocity Limitations
Restraints:
High Cost of the Bio-Based Lubricants
Opportunities:
Growing Demand from Various Industries and Robust Increase in the Distribution Channels
Market Leaders and their expansionary development strategies
In February 2019, Brenntag strengthen its U.S. lubricants business had acquired the lubricants division of Reeder Distributors Inc. A regional integrated lubricant distributor headquartered in Fort Worth, Texas, Reeder Distributors services automotive customers as well as all types of industrial and commercial customers primarily throughout the Dallas-Fort Worth market.
In December 2019, Finnish AT-Tuote has launched an environmentally-friendlier industrial lubricant AT Renewable Penetrating Lubricant internationally. This is the world’s first industrial lubricant with nearly 100% bio-based content. The product is based on a new formulation: 95% of its content is derived from renewable sources.
Key Target Audience
Bio-Based Lubricants Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies, Research Professionals and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.