Bio Lubricant Market is Estimated to Grow at a CAGR of 3.45% by 2030
According to ChemAnalyst
report, “Bio
Lubricant Market: Plant Capacity, Production, Operating Efficiency, Demand
& Supply, Technology, End Use, Distribution Channel, Region, Competition,
Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, bio lubricant market has shown promising growth in
the past five years and is anticipated to achieve a CAGR of 3.45% during the
forecast period. Growing awareness about environment friendly materials coupled
with increasing environmental regulations is expected to drive the demand of
bio lubricant for the forecast period. Additionally, the increasing
demand from automotive industry is also going to fuel the demand of bio
lubricants during the forecast period.
Ger more
info: https://www.chemanalyst.com/industry-report/bio-lubricant-market-560
Bio lubricant is a bio-based
lubricant which is used to enhance machine performance by reducing friction
between different mechanical layers. Bio lubricant is based on vegetable oil
and animal fat instead of petroleum. It is biodegradable and environment
friendly in nature. It has many application areas including engine oil,
metalworking fluid, transmission and hydraulic fluid, general industrial oil,
gear oil, grease, process oil, and others. Due to its lubricating properties,
bio lubricant finds application in various end use industries including power
generation, automotive and transportation, heavy equipment, metallurgy and
metal working, chemical manufacturing etc.
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Bio lubricant is basically
processed vegetable oil and animal fat. It is different from conventional
lubricants as it is bio based and biodegradable in nature. increasing awareness
about environment friendly materials and stronger government support for bio-based
materials are the major drivers of growth in the demand of bio lubricant. It
finds application in various industries such as automotive, power generation,
heavy equipment, metallurgy and metal working, chemical manufacturing etc.
automotive segment of the end use industries holds the major share of global
demand of bio lubricant. Out of the application areas including engine oil,
metalworking fluid, transmission and hydraulic fluid, general industrial oil,
gear oil, grease, process oil etc., engine oil segment holds the major share of
global market for bio lubricant.
Bio lubricant is related to
vegetable oil and animal fat hence the price is directly linked to the
fluctuations in the price of vegetable oil and animal fat. In the first half of
FY20 sudden outbreak of novel coronavirus followed by fall in in the demand of
automotive rendered a major downfall in the bio lubricant, hence the prices
remained low for bio lubricant during the coronavirus pandemic. Demand has
picked up in the recent quarters and is projected to grow due to increasing
demand from Asia Pacific and North America.
Regionally, Asia Pacific
dominates the bio lubricant market and holds the largest market share in 2020.
Asia’s bio lubricant market is anticipated to grow in the economies like China
due to increasing demand of automotive and power generation. Moreover,
increasing government support for environment friendly materials is also an
influencing factor supporting demand rise in Asia Pacific.
Key Players:
·
Axel
Christiernsson
·
BP PLC
·
Chevron
Corporation
·
Cortec
Corporation
·
ExxonMobil
Corporation
·
Kluber
Lubrication
·
Novvi LLC
·
Panolin Ag
·
Royal Dutch
Shell PLC
·
Repsol
·
Bechem
·
Cargill
·
Total
·
FUCHS
·
Emery
Oleochemicals.
“Being linked to the
automotive and mechanical industry, the bio lubricant industry has shown a
robust growth alongside growing population and changing consumer preference
which is moving towards more environment friendly materials like bio lubricants.
China serves as the key growth region with sufficiently installed capacities
for bio lubricant. With new competitors emerging across the Asia
Pacific bio lubricant market, players anticipate that there will be sufficient
supply demand gaps in future. At this, it is extremely important to keep an eye
which region will grab the biggest market share in the upcoming years.” said Mr. Karan
Chechi, Research Director with TechSci
Research, a research based global management consulting firm promoting ChemAnalyst.
Report Scope:
In this report, global bio lubricant market has been segmented into
following categories, in addition to the industry trends which have also been
detailed below:
|
Attribute |
Details |
|
Market size volume in 2020 |
4.32 million Tonnes |
|
Market size volume in 2030 |
6.06 million Tonnes |
|
Growth Rate |
CAGR of 3.45% from 2021 to 2030 |
|
Base year for estimation |
2020 |
|
Historic Data |
2015 – 2019 |
|
Forecast period |
2021 – 2030 |
|
Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2030 |
|
Report coverage |
Revenue forecast, demand & supply, competitive analysis,
competitive landscape, growth factors, and trends |
|
Segments covered |
1.
Application (Engine Oil, Metalworking Fluid, Transmission and Hydraulic
Fluid, General Industrial Oil, Gear Oil, Grease, Process Oil) |
|
Regional scope |
North America; Europe; Asia Pacific; South America; Middle East &
Africa |
|
Country scope |
United States; Mexico; Canada; China; India; Japan; South Korea;
Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy;
Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina |
|
Key companies profiled |
Axel Christiernsson, BP PLC, Chevron Corporation, Cortec Corporation,
ExxonMobil Corporation, Kluber Lubrication, Novvi LLC, Panolin Ag, Royal
Dutch Shell PLC, Repsol, Bechem, Cargill, Total, FUCHS, Emery Oleochemicals. |
|
Customization scope |
Free report customization with purchase. Addition or alteration to
country, regional & segment scope. |
|
Pricing and purchase options |
Avail customized purchase options to meet your exact research
needs. Explore purchase options |
TABLE OF CONTENTS
1. Global Bio lubricant Market Outlook,
2015-2030
1.1. Capacity, By Volume
1.1.1. By Company
1.2. Production, By Volume
1.2.1. By Company
1.3. Operating Efficiency
1.3.1. By Company
2. Global Bio lubricant Demand Outlook,
2015-2030, By Volume
2.1. By Application
2.2. By End Use
2.3. By Region
2.4. By Company
3. North America Bio Lubricant Market
Outlook, 2015-2030
3.1. Capacity, By Volume
3.1.1. By Country
3.2. Production
3.2.1. By Country
3.3. Operating Efficiency
3.3.1. By Country
4. North America Bio Lubricant Demand
Outlook, 2015-2030, By Volume
4.1. By Application
4.2. By End Use
4.3. By Country
4.4. United States Bio Lubricant Market Outlook,
2015-2030
4.4.1. Capacity, By Volume
4.4.1.1. By Company
4.4.1.2. By Location
4.4.2. Production
4.4.2.1. By Company
4.4.3. Operating Efficiency
4.4.3.1. By Company
View Detail TOC @ https://www.chemanalyst.com/industry-report/bio-lubricant-market-560
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