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Biolubricants: Global Markets

·6-min read

Report Scope In this report, the market has been segmented based on bio-based end-use category, base oil, product type and region. It offers an overview of the global market for biolubricants and analyzes global market trends, considering a base year of 2019 and estimates for 2020 and 2025.

New York, July 05, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Biolubricants: Global Markets" -

Revenue forecasts for 2025 are given for each bio-lubricant type, base oil, product type, end-use and region. Estimated values are derived from manufacturers’ total revenues.

The report also includes a discussion of the major players in the market.Further, it explains the major drivers and regional dynamics of the market for biolubricants and current trends within the industry.

The report concludes with a special focus on the vendor landscape and includes detailed profiles of the major vendors in the global market for biolubricants.

This report covers the technological, economic and business considerations of the biolubricants industry with analyses and forecasts provided for global markets. Included in the report are descriptions of market forces relevant to the biolubricants industry and their areas of application.

Global markets are presented by base oil, product type and end-use industry of biolubricants, along with growth forecasts through 2025. Estimates on sales value are based on the price in the supply chain at which the biolubricants are procured by manufacturers.

Market-driving forces and industry structure are examined.International aspects are analyzed for all world regions and base oils of biolubricants.

Brief profiles of major global manufacturers are presented.

The presently developing COVID-19 pandemic has currently halted the progress of economies across the world. In addition to taking measures to lock down their respective countries to contain the spread of the coronavirus, especially in affected cities, various governments across the world are also taking the measures necessary to contain the economic slowdown.

The report considers the impact of COVID-19.In 2020, the growth rate of every industry across the world was impacted by the pandemic, and thus the biolubricants market will also be indirectly affected.

The market is, however, expected to bounce back in 2021, due to the relief packages or disaster aid packages provided by various governments to boost their economies.

The report does not include separate market data for the very small base oil types and product types covered under the other categories.

A negative economic outlook has been assumed in all the regions for 2020 due to COVID-19, but a later positive economic outlook has been assumed to continue in all the regions until 2025. The growing economies are assumed to attract key companies in the market and increase consumer spending.

Report Includes
- 177 data tables and 106 additional tables
- An overview of the global markets for bio lubricants
- Estimation of the market size and analyses of global market trends, with data from 2019 to 2020 and projections of compound annual growth rates (CAGRs) through 2025
- Identification of market drivers, restraints and other forces impacting the global market and evaluation of current market size and forecast and technological advancements within the industry
- Characterization and quantification of market potential for bio lubricants by end-use application, end-user, type and region
- Description of biodegradable and renewable feedstock, such as vegetable oil, animal fat, and bio-based esters and discussion on major advantages of bio lubricants as they are biodegradable, minimally toxic, and not bio-accumulative, and lubricants produced from these feedstocks are considered as environmentally acceptable lubricants (EAL)
- Discussion on importance of bio-lubricants products and their effect on economic activity, and analysis of recent developments, new product launches and strategic innovations within the industry
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships
- Company profiles of major players, including Binol Biolubricants, Exxon Mobil Corp., Klüber Lubrication, Royal Dutch Shell PLC and Vickers Oil

A lubricant is a substance used to reduce friction betweenmoving parts or surfaces, preventwear and tear, and reduce the heat generated by the movement of parts.Itmay also have the function of transmitting forces, transporting foreign particles, or heating and cooling the surfaces.

The property of reducing friction is known as lubricity.More than 85% of the lubricants used globally are based on petroleumfeedstock.

However, the industry is showing increasing inclination towards the use of biobased and non-toxic lubricants as a result of increasing pressure fromlocal and national regulatory bodies and growing concern about the adverse effects of industrialdevelopment on the environment.

Biolubricants, or environmentally accepted lubricants (EAL), are lubricants that are derived from renewable sources such as vegetable oils, animal fats and other sources. These lubricants are readily biodegradable, less toxicand do not harmaquatic organisms and the surrounding vegetation.

Biolubricants have severalenvironmental advantages overpetroleum-based lubricants because of the inherent qualities of vegetable oils.Vegetable oils have a high viscosity index,which does not change underhigh temperature, unlike petroleum-based lubricants.

They provide better lubricity and longer life to equipment.

The global market size forbiolubricants was REDACTED in 2019 and is projected to reach REDACTED by 2025 at a CAGRof REDACTED between 2020 and 2025.Europe accounted for the largest share of the biolubricants market globally.

The market in this region is projected to reach REDACTED by 2025, registering a CAGRof REDACTED during the forecast period. The increasing consumption of biolubricants in the marine industry is driving the growth of the market.

The major driver for the growth of the market is environmental regulations such as the VesselGeneral Permit (VGP) and European Ecolabel.Governments’ support for the development of bioeconomy such as the BioPreferred Programand government funding in research and development (R&D) to reduce the usage of petroleum-based products also support the growth of the market.Due to the implementation of these regulations, the marine industry has become the largest consumerof biolubricants. Some of the regions, like the U.S. and Europe, have adopted the VesselGeneralPermit quite strictly, whichmakes it compulsory for shipping vessels to use bio-based chemicals to enter their territorialwaters. This step has been taken to protect the aquatic ecosystemfromany type of contamination due to accidental leakage of harmful chemicals.

The primary factor restraining the market is the higherprice of biolubricants in comparison to mineralbased lubricants.Biolubricants are two to three timesmore expensive than mineral-based lubricants - hence, its acceptance in regions such as APAC, theMiddle East, Africa and South America is low.

The introduction of newenvironmental regulations and newR&D to reduce prices are expected to propel the market for biolubricants in the long-term.
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