The global bio-lubricants market is projected to reach US$ 2.43 Bn by 2031, growing at a CAGR of 5.2 %

Bio-lubricants are made using a variety of feedstock such as grasses, oil-rich seeds, food waste, algae, and plastics which cannot be recycled. Bio lubricants are produced by refining bio-oils, which is extracted using various techniques such as pyrolysis; chemical extraction, and hydrothermal liquefaction. Bio lubricants are also made from the initiation of alkyl chain branching of various vegetable oils. This procedure offers low-temperature characteristics, lowers the viscosity index, and increases stability of the bio lubricant produced. Bio lubricants are better than petroleum-based lubricants as they do not cause any environmental damage and other problems such as skin inflammation for those working with hydraulic systems and engines. Furthermore, bio lubricants offer several benefits, such as reduction in labour cost and energy usage, ensures employee safety, do not cause any environmental issues, and increases the machine life, owing to which the bio lubricant market is expected to grow over the forecast period.

Growing automotive market is expected to drive the bio-lubricants market

Growing sustainable practices and environmental concerns due to the use of synthetic lubricants, the demand for bio-lubricants is estimated to grow in the coming years. Bio-lubricants are acknowledged for their capability to provide exceptional technical performance, develop processing efficiencies, and enhance environmental safety. The rising sales of automobiles is driving the bio lubricant market. Developed countries have implemented certain laws and regulations, and have made mandatory the use of bio lubricants where ever possible. Bio lubricants are renewable and environment friendly, and are best suited for applications where machinery loses oil directly into the environment. The growing implementation of strict government norms pertaining to reduction in carbon emissions and environmental concerns are key factors projected to fuel the consumption of bio lubricants in the coming years.

The market is experiencing a swing from petroleum-based lubricants to bio based lubricants as they offer constant viscosity, better safety due to higher flashpoints, and less vapour emissions and oil mist. They produce few emissions as they have high boiling temperature ranges because of esters. Bio lubricants also costs less due to no disposal requirements, less maintenance, and storage over the product’s life-cycle. The consistent use of bio lubricants can reduce pollution in storm water which can be caused by leaks in hydraulic systems, engines, and brake lines. Many European countries have made the use of bio lubricants mandatory in selected areas which are environmentally sensitive as accidentally leaked or spilled bio lubricants will not contaminate streams, kill wildlife and vegetation, and is projected to have a positive impact on the market growth over the forecast period.

Engine lubrication is one of the emerging application for Bio-lubricants

Bio lubricants are widely used in metalworking fluids, hydraulic fluids, chainsaw oils, mould release agents, and several other applications where petroleum based lubricants are used. Bio lubricants evaporate slow as compared to petroleum lubricant products and adhere better to metal surfaces. To promote and increase the use of bio lubricants and other bio based products, the US Department of Agriculture (USDA) has introduced a BioPreferred Program, under which several bio-based lubricants categorized can be used for stationary and moving equipment, metalworking fluids, two-cycle engine oil, and various other applications. The BioPreferred certified lubricants have to be formulated with a minimum 25% bio-content, which is expected to drive the market over the forecast period.

Bio lubricants were formally used for the lubrication purposes in chain saws. Now, to optimise the performance of equipment such as cranes, tractors, load carriers, or harvesters in forests, plant based lubricants are being widely used as hydraulic fluids. Bio lubricants are also added in greases which are used for lubricating and oiling large parts which cannot be constantly covered with oil such as chains, canal facilities, and lock gates used at dams. Engine lubrication is one of the upcoming applications of bio lubricants as several motor oils are being developed using plant based oils and can deal with high thermal stresses. Bio or plant based lubricants also find their application in the construction sector for activities such as concrete moulding and can be used in the metal working and machining field for corrosion protection, cutting oils, cooling parts, and others.

North America will lead the growth in bio lubricant market followed by Europe

Growing environmental concerns and the increasing need to reduce toxic emissions across the world is driving the use of bio lubricants, as more than 50% of the synthetic lubricants are released in the environment and have adverse effects on the wildlife and contaminate the soil. North America region is anticipated to grow at a very fast pace in the Bio-lubricants market with the highest CAGR during the forecast period. Government and various agencies in the US have implemented several laws and regulation pertaining to the use of bio based products. These laws make the use of bio lubricants mandatory in certain applications.

Europe is one of the leading regions to increase the share of bio lubricants in the market. The European Union (EU) have supported many programs which encourage innovative bio lubricants small and mid-size enterprises (SMEs). New additives and bases have been developed to formulate new bio lubricants which are very promising and can be labelled as European Ecolabel (EEL). The requirement of renewable content for European Ecolabel (EEL) should be around 45 – 70% depending on the application. Furthermore, the fast paced growth of the industrial lubricant industry in various parts of the world is expected to boost the bio lubricant market.

Key Market Players

•    Total S.A.
•    ExxonMobil
•    Royal Dutch Shell PLC
•    BP PLC
•    Chevron Corp.
•    Fuchs
•    Repsol
•    Panolin 
•    RSC Bio Solutions 
•    Binol Biolubricants 
•    Others

bio-lubricants market Scope

Key Segment Of The bio-lubricants market

by Type (USD Billion)            
    •    Hydraulic Fluids
    •    Metalworking Fluids
    •    Gear Oils
    •    Greases
    •    Process Oils
    •    Compressor Oils
    •    Transmission Fluids
    •    Others
by Raw Material, (USD Billion)
    •    Vegetable Oils
    •    Synthetic Esters
    •    PAG and PAO
    •    Others
by End Use, (USD Billion)
    o    Automotive Bio Lubricants
        •    Automotive Engine Oils
        •    Gear Oils
        •    Hydraulic Oils
        •    Transmission Fluids
        •    Grease Formulation
        •    Others
    o    Marine Bio Lubricants Market
        •    Hydraulic Fluids
        •    Gear Oils
        •    Multi-purpose Oils
        •    Grease Formulation
    o    Aviation Bio Lubricants Market
        •    Engine Oils
        •    Compressor Oils
        •    Others
    o    Mining Bio Lubricants Market
        •    Pneumatic Tools
        •    Hydraulic Oils
        •    Gear Oils
        •    Others
    o    Industrial Bio Lubricants Market
    o    Construction Bio Lubricants Market
    o    Oil & Gas Bio Lubricants Market
    o    Others
Regional Overview, (USD Billion)
    North America
      •    US
      •    Canada
    Europe
      •    Germany
      •    France
      •    UK
      •    Rest of Europe
    Asia Pacific
      •    China
      •    India
      •    Japan
      •    Rest of Asia Pacific
    South America
      •    Mexico
      •    Brazil
      •    Rest of South America
    Middle East and South Africa