The global market size for bio-lubricants was USD 2.20 billion in 2019 and is projected to reach USD 2.46 billion by 2025, at a CAGR of 4.1% between 2020 and 2025.
Stringent regulations and growing acceptance among end-users is projected to drive the bio-lubricants market
The global bio-lubricants industry has witnessed growth primarily because of the strict regulations adopted by countries across the world. There has been growing acceptance among end-use industries due to the continuous technological advancement to justify the premium cost of bio-lubricants.
Hydraulic oil application is projected to witness highest CAGR during the forecast period
The hydraulic oil application of the bio-lubricants market is projected to witness the highest growth during the forecast period, both in terms of value and volume. The growth in this segment is attributed to its usage in hydraulic elevators, sweepers, garage trucks, forklifts, motor graders, and end loaders, which are used in many industries.
Industrial segment projected to lead the bio-lubricants market from 2020 to 2025
The industrial segment includes the marine and agriculture & construction industries. These two industries are the largest and fastest-growing end-use industries, respectively. Various regulations such as the vessel general permit (VGP) in the US and EcoLabel in Europe have made it mandatory to use bio-lubricants or environmentally accepted lubricants (EAL) to be used in shipping vessels.
Europe projected to account for the maximum share of bio-lubricants market during the forecast period
Europe is projected to lead the global bio-lubricants market from 2020 to 2025. Stringent regulations and the ongoing transition towards bioeconomy in countries such as Germany, Italy, Nordic countries, Benelux, and France are promoting the use of bio-based chemicals such as bio-lubricants and biofuels, which is driving the market in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Market Overview 4.1. Introduction 4.2. Global Market Size Analysis and Forecast 4.3. Forecast Impact Factors 4.3.1. Impact of Covid19 on the industry 4.4. Market Dynamics 4.4.1. Drivers 4.4.2. Restraints 4.4.3. Challenges 4.4.4. Opportunity 4.5. Porter's Five Forces 4.6. Supply Chain and Value Chain Analysis 4.7. Regulation 4.8. Patent Analysis 4.9. Ecosystem/Market Map 4.10. Average Selling Price Trend 4.11. Cost Structure Analysis
5 Biolubricants Market, By Base Oil Type - Forecast till 2025 5.1. Introduction 5.2. Vegetable Oils 5.2.1. Rapeseed 5.2.2. Canola 5.2.3. Sunflower 5.2.4. Palm oil 5.2.5. Others 5.3. Animal Fats 5.4. Others
7 Biolubricants Market, By End-Use - Forecast till 2025 (Volume and Value) 7.1. Introduction 7.2. Industrial 7.2.1. Marine 7.2.2. Foods & pharmaceuticals 7.2.3. Energy & Power 7.2.4. Mining & Metallurgy 7.2.5. Others 7.3. Commercial Transport 7.4. Consumer Automobile
8 Biolubricants Market, By Region - Forecast till 2025 (Volume and Value) 8.1. Introduction 8.2. Supply-Demand Scenario 8.3. Average Selling Price Trend (2015-18) 8.4. North America 8.4.1. The US 8.4.2. Canada 8.4.3. Mexico 8.5. Europe 8.5.1. Germany 8.5.2. NORDIC 8.5.3. Italy 8.5.4. BENELUX 8.5.5. Switzerland 8.5.6. Rest of Europe 8.6. Asia Pacific 8.6.1. China 8.6.2. Japan 8.6.3. India 8.6.4. South Korea 8.6.5. Malaysia 8.6.6. Indonesia 8.6.7. Rest of Asia-Pacific 8.7. South America 8.7.1. Brazil 8.7.2. Argentina 8.7.3. Rest of South America 8.8. Middle East & Africa 8.8.1. Egypt 8.8.2. South Africa 8.8.3. Rest of the Middle East & Africa