Global Biolubricants Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

MarketResearch.biz delivers in-depth insights on the global biolubricants market in its upcoming report titled, “Global Biolubricants Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global biolubricants market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The biolubricants market report has been segmented on the basis of raw material, application, end-user, and region.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Biolubricants or bio-lubes are biodegradable and nontoxic lubricants used for lubrication of mechanical components. These lubricants are produced by using raw material like sunflower oil, coconut oil, palm oil, rapeseed oil, and animal fats. Biolubricants offer several advantages over conventional lubricants such as carbon neutral, renewable, non-toxicity, and environment-friendly.

On the basis of raw material, the vegetable oil segment is expected to hold major revenue share in the global biolubricants market. Plant-based oils are used as a substitute for conventional oils. These oils are used for biolubricant production owing to properties such as non-toxicity, renewability, and environmental friendliness.

On the basis of application, the automotive segment is expected to hold a major share in the global target market and is expected to maintain dominance for the next five years. Bio-based lubricants exhibit high inherent biodegradation rate and low level of bioaccumulation, which is expected to propel segment growth over the forecast period.

On the basis of end-user, the commercial transportation segment is estimated to hold major revenue share in the global biolubricants market and is expected to maintain its dominance over the forecast period. Increasing awareness regarding fuel efficiency and maintenance of heavy vehicles is anticipated to augment segment growth over the forecast period.

North America market is estimated to hold major revenue share in the global biolubricants market, in 2017 and is expected to maintain its dominance over the forecast period. Increasing demand for bio-based lubricants in the automotive industry in the region owing to growing regulatory intervention from the US government is expected to be a major factor driving revenue growth of North America biolubricants market over the forecast period. North America accounts for the largest revenue share contribution of the target market, followed by markets in the Asia Pacific, Europe, Latin America, and the Middle East & Africa respectively. Moreover, growing automotive and manufacturing sector in the region is anticipated to drive revenue growth of North America biolubricants market growth over the forecast period.

Market segmentation and key players operating in the global biolubricants market:

By raw material:

• Vegetable oil
• Animal Fats

By application:

• Automotive
• Industrial Lubricant
• Metal Working
• Greases
• Others (Hydraulic Fluids, Mold Release Agents, and Transmission Fluids)

By End-user:

• Industrial
• Commercial Transportation
• Consumer automotive

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa