Increasing Industrial Application of Bio-lubricants Expected to Spur Global Market Growth

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Research Insights:

The increasing depletion of the global crude oil reserves, escalating crude oil prices, and several issues pertaining to its conservation have urged industries to focus on the production of bio‐based lubricants and oils. Bio-lubricants are highly renewable, biodegradable, non-toxic, and eco-friendly industrial fluids that are made from natural oils and fats to serve various non‐edible purposes. Typically, bio-lubricants are extracted from bio-based materials, including sunflower seeds, rapeseed, animal fats, and various other materials. 

As engineering fluids, bio-lubricants are extensively used in heavy machineries, such as chainsaw bars, railroad flanges, two-stroke engines, mold release agents, hydraulic fluids, automotive engines, gear oils, two-cycle engine oils, greases, etc. Bio-lubricants are derived from two primary sources, including vegetable oils and animal fats, which have excellent lubricating properties and biodegradability. Thus, in comparison to mineral oils, bio-lubricants are way more feasible to use as they have higher viscosity levels and superior anti-corrosion properties. The improved lubricity of these lubricants results in lower friction losses and an improved fuel economy. 

The global bio-lubricants market is projected to grow substantially in the upcoming years. Factors such as the exponentially growing demand for bio-lubricants across construction, automotive, agriculture, and marine industries, the rapidly expanding global industrial sector, surging awareness about the environmental benefits of bio-lubricants, increasing R&D initiatives and technological innovations by key market players, and a favorable regulatory scenario for these oils are anticipated to contribute to the potential growth of the market. In the automotive sector, bio-lubricants are widely deployed as transmission fluids as they help improve vehicular performance by enhancing brake band friction, gear lubrication, valve operation, and torque conversion. Therefore, increased usage of these fluids in automotive manufacturing is a crucial factor expected to positively affect global market growth. Europe is touted as the leading region in the global bio-lubricants market, and the market is poised to maintain its stance over the upcoming years. The ongoing transition into ‘bio-economy’ and the imposition of stringent environmental regulations in countries like Germany, France, Italy, Benelux, and several Nordic countries are significantly bolstering the demand for bio-lubricants in this region. 

The global bio-lubricants market is highly consolidated due to the presence of major companies involved in bio-lubricants production. ExxonMobil, Total S.A. Castrol, Royal Dutch Shell, UBL, Albermarle, Chevron, British Petroleum, Emery Oleochemicals, Petronas Lubricant International, Binol Biolubricants, Solution Biogen Sdn Bhd., and Kluber International are among the leading players operating in this market. These companies are focused on business growth strategies, such as product innovation, collaborations, and new product launches, to expand their market footprint. For instance, in January 2018, ExxonMobil introduced its Mobil SHC Aware Hydraulic System Series hydraulic oils. These oils protect in challenging marine operating environments and are said to meet the VGP requirements for the EAL. Furthermore, in March 2020, Royal Dutch Shell had announced the expansion of its lubricant production facility at Marunda Centre in Indonesia. The plant would have a production capacity of 300 million liters of lubricants following the expansion. 


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