Global Bio-lubricants Market will cross USD 4.47 billion Market by 2032

Market Research Future (MRFR) has published a cooked research report on the “Bio-Lubricants Market” that contains the information from 2023 - 2032.

Market Synopsis

Global Bio-lubricants Market Size was valued at USD 2.9 billion in 2022. The Bio-lubricants market industry is projected to grow from USD 3.03 Billion in 2023 to USD 4.47 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.40% during the forecast period (2023 - 2032). 

Bio-lubricants are functional fluids generated from vegetable oils or animal fat via esters that are biodegradable, non-toxic, non-bio-accumulative, and environmentally beneficial. Bio-lubricants are frequently utilized in the processing industries and automobile parts, notably brakes and engines, which require lubrication to function properly. Due to their properties such as very high biodegradability, significantly reduced toxicity, good lubricating qualities, great performance, high viscosity index and a high flashpoint, making them a safe alternative for both the user and the environment, they also aid in the long-term preservation of equipment by reducing evaporation losses and oil usage, they are used in various end-use industries. Bio-lubricants are appropriate for solving the following industrial issues: reducing mechanical energy losses, reducing friction part wear providing corrosion protection for the components, reducing the machine's operating temperatures, increasing the seal's tightness, and avoiding leaking impurities and dirt deposits.

The major factors driving the global market growth are Surging demand for automotive application and high demand in the marine industry are driving the market growth.

Competitive Landscape

The global bio-lubricants  market is characterized by the presence of many regional and local vendors. The market is highly competitive, with all the players competing to gain maximum market share. The increasing global bio-lubricants  demand in boosting the sales of global nuclear. The vendors compete based on cost, service quality, and the availability of the service according to the geographies. The vendors must provide cost-effective and high-quality global bio-lubricants  services to compete in the market. The competitive scenario is fragmented between the tier-1, tier-2, and tier-3 companies, while tier-1 and tier-2 companies hold over 60% of the global market share.

The market players' growth depends on the market and economic conditions, government regulations, and industrial development. Thus, the players should focus on expanding the production capacity to meet the demand and enhance their services. Shell plc, BP p.l.c., TotalEnergies SE, ExxonMobil Corporation, Fuchs Petrolub SE, Novvi LLC, Emery Oleochemicals, BIONA JERSÍN s.r.o., MO8 Specialities Limited, RSC Bio Solutions, BECHEM, and IGOL are the major companies in the market at the present that are competing in terms of quality, price, and availability. These players are primarily focusing on the development of bio-lubricants. Although the international players dominate the market, regional and local players with small market shares also have a moderate presence. The international players with a global presence, with established manufacturing units or sales offices, have strengthened their presence across major regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Segmentation

By Base-Oil Type

• Vegetable Oil: There are many readily accessible vegetable oils, including those made from rice-bran, cottonseed, peanut, sunflower, rapeseed, sesame, palm kernels, coconut, linseed, castor, sal, neem, and karanja. Vegetable oil-based bio-lubricants are nontoxic and easily biodegradable, which reduces the risk of accidental spills or disposal to the soil, water, flora, and animals. Vegetable oils are sustainable, environmentally benign, have a high flash point, high viscosity index, high lubricity, and minimal evaporative loss. Vegetable oils are said to have drawbacks that prevent them from being used as base oils for industrial bio-lubricants, including poor oxidative and hydrolytic stability, high cost, the food vs. energy issue, high temperature sensitivity of tribological behavior, and poor cold flow qualities.


• Synthetic Esters: The synthetic esters segment held a market share of 4.68% in 2021 and is expected to register a CAGR of 6.03% during the forecast period. Monoglycerides and diglycerides are the basis oils for synthetic fatty esters. They are made through carefully monitored esterification and preesterification processes. Animal or plant-based lipids are chemically altered to create synthetic esters. Most natural and synthetic esters' bio lubricant investigations to far have concentrated on enhancing their physicochemical characteristics using a variety of chemical modification techniques and catalytic processes. Ester base fluids have primarily been employed in blends with synthetic hydrocarbons or highly refined mineral oils in automobile engine and gear oils, where the ester component is used to change the hydrocarbon's solvency, seal swell, and lubricity properties. synthetic base oil portfolio with excellent performance suitable for use in a wide range of applications, including automotive, industrial, aviation, bio-lubricants, and compressor bio-lubricants.


• Animal Fats: The triacylglycerol content of the fats is typically 98%. Mono- and diacylglycerols, free fatty acids, water, colors, and other substances are examples of other chemical substances. Physical-chemical characteristics including viscosity, iodine number, and oxidative stability are determined by the profile of higher fatty acids linked in triacylglycerols. Because animal fats are so highly saturated, they solidify at rather high temperatures. Animal fat-based products has a high cloud point as a result.

By Application

• Hydraulic oil: Hydraulic oil is used to transfer hydrostatic power in hydraulic machinery. Common hydraulic oil, anti-wear hydraulic oil, and low condensation point hydraulic oil are the three categories. Engineering machinery hydraulic oil is a hydraulic system-specific oil created for the demands of die-casting machines and construction machinery in real-world operating environments. Engineering machinery hydraulic oils perform better in terms of wear resistance, rust resistance, emulsification resistance, oxidation stability, hydrolysis stability, and temperature stability when compared to other hydraulic oils. Hydraulic oil has a low freezing point and a low flow point. When choosing hydraulic oil, the high ignition point, and the flash point must also be addressed. For quarries/sand pits, civil works, forestry, river navigation, road-building equipment, and winter sports resorts, the use of biodegradable hydraulic fluids is advised.


• Mold Release Agents: The mold release agents segment held a market share of 10.95% in 2021 and is expected to register a CAGR of 6.41% during the forecast period. A tackifier and a specialty ingredient with good mold release and lubrication capabilities are included in the mold release lubricant, along with other additives if additional lubrication for the mold is thought to be essential. The lubricant includes at least one tackifier and/or at least one vegetable base fluid with good low temperature fluidity properties. The mold release lubricant disclosed in the present invention is used in the construction sector (particularly concrete construction) to lubricate during the detachment process of the molded concrete from the mold (formwork) and prevent adhesion of freshly poured concrete to the forming surface.


• Chiansaw Oil: These oils are naturally resistant to shear, well-lubricated, have a high viscosity index, and have a high flash point. Because of this, they are particularly effective at lubricating your chainsaw while preventing long-term damage to the bar or chain. On pump-fed chainsaws, they are especially made to lubricate and safeguard the cutter bars and chainsaw chains. The sprocket and guide cover sections have less accumulation of waste wood, which lessens wear. A chainsaw's high RPM causes oil to mist, which may have an impact on users either through skin absorption or inhalation. High viscosity and anti-fling characteristics of biodegradable chainsaw chain oil greatly lessen the number of fumes that users breathe in. According to two studies, biodegradable oils are safer than most petroleum-based oils in this regard.


• Greases: The greases segment held a market share of 4.11% in 2021 and is expected to register a CAGR of 6.63% during the forecast period. Another name for bio grease is an environmentally friendly lubricant. With this appropriate nomenclature, lubricants are identified that have met the requirements for biodegradability, toxicity, and bioaccumulation potential. Compared to conventional lubricants, they are most likely to have little or no effect on the aquatic environment. The efficacy of bio greases is usually highly reliant on the specific base fluid utilized. Since most of a grease formulation is made up of oil, the ester plays a crucial factor in the product's cost. Modern bio greases are made with a variety of pricey biodegradable synthetic esters.


• Automotive Engine Oils: The automotive engine oils segment held a market share of 3.81% in 2021 and is expected to register a CAGR of 4.43% during the forecast period. Gear oils are required for automotive and industrial lubrication, and they are typically used in power take-offs, transmissions, differentials, and non-drive applications. These oils are necessary for a variety of reasons, including noise reduction, corrosion prevention, heat transfer, and general efficiency improvement. Strict viscosity management of the base oil is required to achieve effective protection in both the hydrodynamic and electrohydrodynamic regimes. Vegetable oils lack the viscosity necessary for these uses, but this limitation can be removed by thermal polymerizing the oil, which is done by heating the oil in an inert environment to produce high molecular weight products.


• Others: The others segment held a market share of 1.83% in 2021 and is expected to register a CAGR of 3.89% during the forecast period.

By End-Use Industry

• Automotive: Engine oil & gear oil, grease, penetrating lubricant, and dry lubricants are used in automotive. In automotive, agricultural machinery, and other vehicles, gear oil is designed for use in a variety of gear units, including bevel, standard, and helical gearboxes, transmissions, and differentials. A variety of pressure and temperature situations across a range of autos are addressed in the specifically designed high-grade gear oil. Gear oil has a higher viscosity than conventional motor oil and additives that make it more pressure resistant. Like motor oil, gear oil protects moving parts by preventing wear and tear and serving as a layer of protection. Automotive Grease is commonly used in suspension, steering, wheel bearing, and nipple joints in various autos for agricultural, construction, or industrial application. Automotive greases, as their name suggests, offer strong lubrication to prevent early wear and tear.


• Construction: The construction segment held a market share of 11.39% in 2021 and is expected to register a CAGR of 6.84% during the forecast period. Hydraulic fluid, engine oil, gear oil, automatic transmission fluid (ATF), grease, and compressor oil are the primary categories of construction lubricants. As a lubricant and medium for the transmission of energy or power, the hydraulic fluid serves several roles. Hydraulic fluids or hydraulic oils are fluids used in numerous types of machinery, equipment, and throughout sectors. Base oils for construction lubricants come in both synthetic and mineral oil varieties. Applications for construction lubricants include earthmoving machinery, material handling tools, heavy construction trucks, and more.


• Marine: The marine segment held a market share of 9.06% in 2021 and is expected to register a CAGR of 5.06% during the forecast period. Marine lubricants are frequently used in the shipping sector to increase engine efficiency and safeguard other equipment. In addition to preserving components from high temperatures and improving engine life, they also lessen equipment wear. They allow for long maintenance intervals, provide wear protection, and extend the lifespan of ship parts, port infrastructure, and harbor cranes. Greases, turbine oil, gear oil, and industrial lubricants are used in the marine industry for lubrication.


• General Industries: For oil drilling and natural gas operations, engine oil, gear oil, hydraulic oil, and other lubricant solutions help equipment tackle a variety of problems, such as wear, heat, heavy loads, contamination from water and dirt, oil leakage, foam, sludge, and rust. Additional challenges include pound-out and wash-out grease point issues. These difficulties might result in more downtime, less output, shorter equipment, and engine oil lubricant lives, and costly part replacement if not addressed.


• Food: The food segment held a market share of 1.37% in 2021 and is expected to register a CAGR of 6.40% during the forecast period. These food-grade bio-lubricants are formulated to minimize the risks associated with unavoidable and occasional trace contaminations in those final products. Only biobased raw materials or organic plant oils should be used in the production of green food-grade bio-lubricants. It helps ensure the safety of the food supply and the industry's long-term viability. Green food-grade bio-lubricants must be created so that technically inevitable residues in the processed product are safe for human consumption, have a neutral flavor, and have no unpleasant odors. Under anticipated operation conditions, these food-grade bio-lubricants must tolerate temporal, chemical, thermal, and mechanical loads.


• Others: The other segment held a market share of 2.67% in 2021 and is expected to register a CAGR of 4.51% during the forecast period. Others include the pharma, food, and textile industry. Lubricants are used in the pharmaceutical business to improve powder flow by lowering interparticle friction. The pharmaceutical industry's most popular lubricants are magnesium stearate and stearic acid. Lubricants in the pharmaceutical industry help to guarantee that tablets are ejected cleanly and without breaking or cracking by reducing friction between the tablet and the die metal surface.

By Region

1. North America: North America is projected to hold a significant share of the target market owing to automotive industry. The automobile sector's profitable prospects are driven by electric vehicle projects, flourishing public transit, and growing. According to the European Automobile Manufacturer Association, South American automobile production increased by 11% in 2021, while U.S. car production increased by 3.1%. The International Organization of Motor Vehicle Manufacturers (OICA) reports that worldwide passenger vehicle production climbed from 55,834,456 units in 2020 to 57,054,295 units in 2021.


2. Europe: In Europe, bio-lubricants that meet the required standards can be awarded the E.U. Ecolabel: this scheme combines several labelling methods from specific European nations, such as the Blaue Engel in Germany, the VAMIL Regulation in the Netherlands, and Sweden's Swedish Standard. Thus, the high demand from the marine industry might boost the order in the bio-lubricants market in the forecast period.


3. Asia Pacific: In the Asia-Pacific region the China accounted for the largest market share of 57.48% in 2021, with a market value of USD 246.16 million; it is expected to register the highest CAGR of 9.82% during the forecast period.The growth in the Bio-Lubricants activities can be attributed to the growth in the automotive industry in the region and growing demand from the various end-use industries.


4. Latin America: Latin America is estimated to hold a considerable share of the Bio-Lubricants market. This is due to growing automotive market as well as the marine activities in the region.


5. Middle East & Africa: Middle East & Africa is estimated to hold a considerable share of the Bio-Lubricants market. The GCC Countries accounted for the largest market share in 2021, valued at USD 72.9 million; it is projected to exhibit a CAGR of 5.48%.