BIOLUBRICANTS MARKET ANALYSIS

Biolubricants Market, By Oil Source (Plant-Based and Animal-Based), by Product Type (Hydraulic Fluid, Metalworking Fluid, Gear Lubricants, Greases, Engine Oil, and Others (Mold Release Agents, Chainsaw Oils etc.)), by End-use Industry (Industrial, Automotive, Construction, Marine, and Others (Agricultural, Forestry etc.)), and By Region (North America, South America, Europe, Asia Pacific, and Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022-2028

Market Dynamics:

Growing demand of sustainable alternatives against petroleum-based lubricants is expected to drive growth of the global biolubricants market over the forecast period. According to the fact sheet on biolubricants released by the Department of Ecology of Washington, U.S., in April 2011, biolubricants offer better safety than petroleum lubricants as they have higher flashpoints, constant viscosity, and less oil mist and vapor emissions. Biolubricants also produce lower emissions. Moreover, as per the same source, biolubricants are highly biodegradable and are less costly owing to lower maintenance, storage, and disposal requirements.
Furthermore, number of advantages offered by biolubricants compared to petroleum-based lubricants, are expected to drive growth of the biolubricants market, as it provides low cost and eco-friendly solutions for various lubricant products such as greases and engine oils.