The market for Bio-based lubricants is segmented based on its raw material, end use industry, application, and geography. The end user industry includes industrial, automotive, and commercial automotive lubricants. Bio-based lubricants have various applications such as automotive oil, chainsaw oil, hydraulic oil, process oil, demolding oil, lubrication greases, compressor oil, turbine oil, and metal working oil and are segmented accordingly. Geographically, the global bio-based lubricants market is segmented across North America, Asia Pacific, Europe, and LAMEA. Among these North America is the largest market for bio-based lubricants. Some of the key players in the global bio-based lubricants market are UBL, Total S.A., Exxon Mobil, Shell, Binol Biolubricants, BP, Castrol, Renewable Lubricants Inc, Panolin International Inc. and Chevron.
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Bio based lubricants are produced from environment friendly materials such as vegetable oil, synthetic esters, plants, and animals. Vegetable oil like canola oil, palm oil, castor oil, and sunflower seed oil are popularly used as raw materials for bio based lubricants. The demand for bio lubricants is increasing every year owing to their remarkable properties and environmental benefits, which include biodegradability, low toxicity, low maintenance, and their contribution in pollution control. Minimal usage of raw materials and stringent government regulations in North America and Europe against the use of synthetic lubricants, are the driving factors for the global market of bio-based lubricants. However, high cost, availability of raw materials, and a low operational performance can restrain the growth of the global bio-based lubricants market.
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Market – By Raw Material
Market – By End use Industry
Market – By Application:
Market – By Geography
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