The biolubricants market size is estimated to reach USD 3.15 billion by 2021 at a CAGR of 6.3% between 2016 and 2021. Environmental regulations, increasing production of vegetable oils, and emerging applications of biolubricants are some of the drivers of market.
Hydraulic fluids application accounted for the largest share in terms of value, in 2015. The segment is also projected to witness the highest CAGR during the forecast period. Hydraulic fluids are used in moving mechanical parts, cylinders in bridges and locks, elevator, and other fluids.
In the U.S. and Canada, more than 75% of the elevators work on the principle of hydraulic fluids, which has the substantial market potential for biolubricants. Modified variant of biolubricants are being developed which remain in liquid form even at low temperature with high oxidative stability. These lubricants have long life span and are, therefore, expected to have increasing use in low temperature applications. This is driving the market for hydraulic fluids application segment.
Commercial transport is projected to be the fastest-growing end-use segment of biolubricants. It consumes lubricants on a large scale. Lubricants are utilized in heavy vehicles such as lorries, buses, agricultural machines, and marine transport. The marine industry is a major driving force for the commercial transport segment due to concerns about safe disposal of lubricants into the marine ecosystem. Various regulations are in place to ensure the use of biodegradable lubricants in the marine industry.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Biolubricants Market, By Type
8 Biolubricants Market, By Application
9 Biolubricants Market, By End-Use Industry
10 Biolubricants Market, By Region
11 Competitive Landscape
12 Company Profiles
- Additional Players in the Market
- Albemarle Corporation
- Bp Plc
- Chevron Corporation
- Emery Oleochemicals
- Exxonmobil Corporation
- Fuchs Petrolub Ag
- Klüber Lubrication München Se & Co. Kg
- Panolin Ag
- Rowe Mineralolwerk Gmbh
- Royal Dutch Shell Plc
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