Bio-Lubricants Market Poised for Robust Growth, forecasted to Expand at 4.1% CAGR from 2022-27

MarkNtel Advisors has released its latest report highlighting strong growth in The Global Bio-lubricant market is projected to grow at a CAGR of around 4.1% during the forecast period, i.e., 2022-27.

Report Coverage

This report offers a comprehensive analysis of the Bio-Lubricants Market, providing valuable insights across historical trends, current dynamics, and future forecasts.

• Base Year: 2021
• Forecast Years: 2022-27
• Historical Years: 2017-20

Bio-Lubricants Market Overview

Global Bio-lubricant market experienced significant growth during the historical period, owing to the rising government concerns about reducing greenhouse gas emissions & increasing the depletion & price of crude oil. Furthermore, the growing use of vegetable oil-based bio-lubricants as alternative lubricants for the automobile due to their excellent lubricity & the launch of bio-based industrial lubricants are also driving the market growth.

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Bio-Lubricants Market Segmentation Outlook

The Bio-Lubricants is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

By Base Oil Type

• Vegetable Oils
  • Coconut Oil
  • Sunflower Oil
  • Palm Oil
  • Rapeseed oil
  • Others (Canola Oil, Soybean Oil, etc.)
• Animal Tallow (Fat)
• Others (Refined oils, Synthetic oils, etc.)

By Application

• Automotive Engine Oil
• Gear Oil
• Metalworking Fluid
• Transmission Fluid
• Hydraulic Fluid
• Chainsaw Oil
• Two-Cycle Engine Oil
• Others (Greases, Process Oil, Mold Release Agents etc.)

By End-User

• Automotive and Other Transportation
• Power Generation
• Others (Chemical Manufacturing, Heavy Equipment, Food & Beverage, etc.)

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Bio-Lubricants Market Driver

Stringent Regulatory Norms for Oil-based Lubricants to Drive the Market Growth- Over the past decade, reliance on fossil fuels has grown significantly, resulting in the gradual depletion of fuel reserves & increasing crude oil prices. With the increasing number of oil spills & worldwide concern about pollution, there has been a growing interest in developing an alternate solution through research & development for environmentally friendly bio-lubricants derived from natural resources.

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Top Bio-Lubricants Market Brands & Their Strategic Market Positioning

MarkNtel Advisors Research identifies Chevron Corporation, Shell Plc, BP Plc, ExxonMobil Corporation, Axel Christiernsson, TotalEnergies, Cargill, Fuchs Petrolub AG, Klüber Lubrication, Panolin AG, Emery Oleochemicals, M-O-8 Specialities Ltd (Binol Lubricants), Renewable Lubricants, Polnox Corporation, Rsc Bio Solutions, BIONA JERSÍN s.r.o., Carl Bechem GmbH, Advonex International, Others as key players shaping the market landscape.

Bio-Lubricants Market News

• In 2020, Chevron Corporation’s partnered with Novvi LLC, and announced the first production of 100% renewable base oil from Novvi’s Deer Park, Houston Facility.

Key Questions Answered in the Report

• What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
• How the industry has been evolving, and which segments would dominate the market during the forecast period?
• What are the key opportunity areas that companies foresee in the coming years 2027?
• Who are the key players in the market, and what are their competitive strengths?
• What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?

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