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Bio-lubricants Market - Growth, Trends, and Forecast (2019 - 2024)
Market Overview
The market for bio-lubricants is anticipated to register a CAGR of 4.25%, during the forecast period (2019-2024). Bio-based lubricants are eco-friendly, and do not have any toxic effect on the ecosystem.
Bio-based lubricants do not cause skin inflammation, which is generally caused by petroleum-based lubricants. Additionally, they have various advantages, such as reduction in energy usage, reduction in labor cost, increased employee safety, improved environmental conditions, increased machine life, and increased production, thereby augmenting the growth of the market.
Bio-lubricants are produced by esterification of a fatty acid or trans-esterification of vegetable oil. This process is being held with a long-chain alcohol in the presence of a homogeneous acid/base catalyst 8 -10, or by using an ion-exchange resin. This process increases the cost of bio-based lubricants, which is likely to hinder the market growth.
Key Market Trends
Increasing Demand from Power Generation
Power generation is one of the most important sectors for the global economy, without which, almost all manufacturing operations may come to an end. Advancements in manufacturing technologies are resulting in the commencement of various new plants, which, in turn, are increasing the demand for electricity in various end-user industries.
Turbines play a key role in the energy sector for generating electricity. Irrespective of the source of electricity, i.e., wind, solar, hydro, thermal, etc., turbines are widely used for power generation. In general, other than turbines, the major components in the power generation sector include pumps, bearings, fans, compressors, gears, and hydraulic systems. Wind turbines are subjected to many factors, such as humidity, high pressure, high loads, vibrations, and temperature. Gear and turbine oils are widely used in this sector for lubrication purposes.
Many companies are already well aware that reducing the total cost of ownership (TCO) over the lifetime of machinery is the key to extracting the best possible value from the investment. However, the impact of lubrication on TCO is too often underestimated. In general, the cost of lubricants accounts for less than 5% of a power generation company’s total operational expenditure.
According to an international industry study, commissioned by Shell Lubricants, the savings opportunity is recognized, but undervalued. About 58% of the companies recognized that lubricant selection can help reduce costs by 5% or more. However, fewer than one in 10 (8%) realized that the impact of lubrication could be up to six times greater.
All the aforementioned factors are expected to drive the global market, during the forecast period.
Asia-Pacific to Dominate the Market
In Asia-Pacific, China is third-largest bio-lubricant consumer in the APAC region, with an economic growth of 6.9%, in 2017. With growing middle class, along with urbanization of Western China, there has been an increase in the demand and production of vehicles in the country. Additionally, the country’s focus to gradually shift toward electric vehicles is expected to hinder the country’s demand for bio-lubricants, such as engine oil, gear oil, etc.
Competitive Landscape
The bio-lubricant market is fragmented in nature, with numerous players dominating the global and regional market. Key players in the bio-lubricants market include BP PLC, Chevron Corp., ExxonMobil, Repsol, Royal Dutch Shell PLC, Total, FUCHS, among others.
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 | • レポートコード：D-MOR01038 • 出版社/出版日：Mordor Intelligence / 2019年12月26日 • レポート形態：英文、PDF、225ページ • 納品方法：Eメール（受注後2-3営業日） • 産業分類：バイオ |
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レポート概要
| 本調査レポートはバイオ潤滑剤について総合的に分析し、イントロダクション、調査手法、エグゼクティブサマリー、市場動向、製品種類別（エンジンオイル、トランスミッションと油圧作動油、金属加工液、一般産業用オイル、ギアオイル、グリース、プロセスオイル、その他）分析、エンドユーザー産業別（発電、自動車および輸送、重機、食品および飲料、冶金および金属加工、化学製造、その他）分析、地域別（アジア太平洋、北米、ヨーロッパ、南米、中東およびアフリカ）分析、競争状況、市場機会および将来動向に区分して収録しています。 ・イントロダクション ・調査手法 ・エグゼクティブサマリー ・市場動向 ・バイオ潤滑剤の世界市場：製品種類別（エンジンオイル、トランスミッションと油圧作動油、金属加工液、一般産業用オイル、ギアオイル、グリース、プロセスオイル、その他） ・バイオ潤滑剤の世界市場：エンドユーザー産業別（発電、自動車および輸送、重機、食品および飲料、冶金および金属加工、化学製造、その他） ・バイオ潤滑剤の世界市場：地域別（アジア太平洋、北米、ヨーロッパ、南米、中東およびアフリカ） ・競争状況 ・市場機会および将来動向 |
Bio-lubricants Market – Growth, Trends, and Forecast (2019 – 2024)
Market Overview
The market for bio-lubricants is anticipated to register a CAGR of 4.25%, during the forecast period (2019-2024). Bio-based lubricants are eco-friendly, and do not have any toxic effect on the ecosystem.
Bio-based lubricants do not cause skin inflammation, which is generally caused by petroleum-based lubricants. Additionally, they have various advantages, such as reduction in energy usage, reduction in labor cost, increased employee safety, improved environmental conditions, increased machine life, and increased production, thereby augmenting the growth of the market.
Bio-lubricants are produced by esterification of a fatty acid or trans-esterification of vegetable oil. This process is being held with a long-chain alcohol in the presence of a homogeneous acid/base catalyst 8 -10, or by using an ion-exchange resin. This process increases the cost of bio-based lubricants, which is likely to hinder the market growth.
Key Market Trends
Increasing Demand from Power Generation
Power generation is one of the most important sectors for the global economy, without which, almost all manufacturing operations may come to an end. Advancements in manufacturing technologies are resulting in the commencement of various new plants, which, in turn, are increasing the demand for electricity in various end-user industries.
Turbines play a key role in the energy sector for generating electricity. Irrespective of the source of electricity, i.e., wind, solar, hydro, thermal, etc., turbines are widely used for power generation. In general, other than turbines, the major components in the power generation sector include pumps, bearings, fans, compressors, gears, and hydraulic systems. Wind turbines are subjected to many factors, such as humidity, high pressure, high loads, vibrations, and temperature. Gear and turbine oils are widely used in this sector for lubrication purposes.
Many companies are already well aware that reducing the total cost of ownership (TCO) over the lifetime of machinery is the key to extracting the best possible value from the investment. However, the impact of lubrication on TCO is too often underestimated. In general, the cost of lubricants accounts for less than 5% of a power generation company’s total operational expenditure.
According to an international industry study, commissioned by Shell Lubricants, the savings opportunity is recognized, but undervalued. About 58% of the companies recognized that lubricant selection can help reduce costs by 5% or more. However, fewer than one in 10 (8%) realized that the impact of lubrication could be up to six times greater.
All the aforementioned factors are expected to drive the global market, during the forecast period.
Asia-Pacific to Dominate the Market
In Asia-Pacific, China is third-largest bio-lubricant consumer in the APAC region, with an economic growth of 6.9%, in 2017. With growing middle class, along with urbanization of Western China, there has been an increase in the demand and production of vehicles in the country. Additionally, the country’s focus to gradually shift toward electric vehicles is expected to hinder the country’s demand for bio-lubricants, such as engine oil, gear oil, etc.
Competitive Landscape
The bio-lubricant market is fragmented in nature, with numerous players dominating the global and regional market. Key players in the bio-lubricants market include BP PLC, Chevron Corp., ExxonMobil, Repsol, Royal Dutch Shell PLC, Total, FUCHS, among others.
Reasons to Purchase this report:
The market estimate (ME) sheet in Excel format
Report customization as per the client’s requirements
3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Regulatory Norms Driving the Demand for Bio-based Lubricants
4.1.2 Increasing Adoption in the Automotive Industry
4.2 Restraints
4.2.1 High Price of Bio-based Lubricants
4.3 Industry Value-Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Engine Oil
5.1.2 Transmission and Hydraulic Fluid
5.1.3 Metalworking Fluid
5.1.4 General Industrial Oil
5.1.5 Gear Oil
5.1.6 Grease
5.1.7 Process Oil
5.1.8 Other Product Types
5.2 End-user Industry
5.2.1 Power Generation
5.2.2 Automotive and Transportation
5.2.3 Heavy Equipment
5.2.4 Food and Beverage
5.2.5 Metallurgy and Metalworking
5.2.6 Chemical Manufacturing
5.2.7 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 ASEAN Countries
5.3.1.6 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.2.4 Rest of North America
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Russia
5.3.3.6 Nordic Countries
5.3.3.7 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 United Arab Emirates
5.3.5.4 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Axel Christiernsson
6.4.2 Bechem
6.4.3 BP PLC
6.4.4 Cargill
6.4.5 Chevron Corp.
6.4.6 Cortec Corporation.
6.4.7 ELM
6.4.8 ExxonMobil
6.4.9 Fuchs
6.4.10 Kluber Lubrication
6.4.11 Lubitec
6.4.12 Novvi LLC
6.4.13 Panolin AG
6.4.14 Royal Dutch Shell PLC
6.4.15 Total
6.4.16 Repsol
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Introduction of New Products with Better Properties
7.2 Others