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Biolubricants Market Global Status and Current Scenario by 2024

Increasing passenger car sales in emerging economies is one of the major drivers of industry expansion in recent years. The favorable regulatory framework is expected to encourage the production & consumption of bio-based lubricants over the forecast period. The U.S. EPA has implemented regulations that require all marine vessels to obtain the mandatory Vessel General Permit (VGP) for plying in the U.S. waters & also utilize environment-friendly, acceptable lubricants in all oil-to-sea interfaces.

The Global Biolubricants Market is expected to reach USD 2.92 billion by 2024, according to a new report by Grand View Research, Inc.


Various environmental issues associated with conventional lubricants are driving the demand for vegetable & plant-based lubricants. The product segment is anticipated to benefit from the growing demand from industrial & transportation sectors in developed regions.

Vegetable oil was the leading raw material used for biolubricants with a commanding share of 88.1% in 2015. They are also expected to witness the highest growth of 7.6% over the forecast period.

To Know More About Biolubricants Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/biolubricants-industry 

Top Players of Biolubricants Market:

The industry is consolidated among major players such as Total S.A., Chevron, British Petroleum, ExxonMobil, and UBL. Other significant players such as Emery Oleochemicals, Castrol, Binol Bio Lubricants, Kluber International, Petronas Lubricant International, Solution Biogen Sdn Bhd., and Albermarle.

Market Segmentation of Biolubricants Market:

The Global Biolubricants Market segmented on the basis of Raw Material, Application and Region.

By Raw Material:

Vegetable Oil
Animal Oil

By Application:

Automotive
Automotive Engine Oils
Gear Oils
Hydraulic Oils
Transmission Fluids
Greases
Chainsaw Oils
Industrial
Process Oils
Demolding Oils
Industrial Gear Oils
Industrial Greases
Metal Working Fluids

By End-Use:

Industrial
Commercial Transportation
Consumer Automotive

By Region:

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa

Inquire about Biolubricants Market with Our Experts @ https://www.grandviewresearch.com/inquiry/21 
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