Growing Demand of bio-based oils from Automotive Sector and Increasing penetration of soy-based oils in transformers are driving the growth of Global Bio-Based Lubricants Market in the forecast period of 2019 to 2026.

Drivers: Global Bio-Based Lubricants Market

Growing Demand of Bio-Based Oils From Automotive Sector

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The demand for bio-based oils in lubricating sector is growing rapidly as eco-friendly characteristics ae offered by these lubricants. Since the automotive industries are engaged in the manufacturing of cars, trucks and other vehicles and usage of bio-based oils is required to give high anti-frictional properties to the transport industry.

  • In the U.S. nearly USD 2,500 million gallons of lubricants were manufactured among which 1.4% was related to automotive and rest of them was related to industrial lubricants. Hence, it is compulsory for the automotive engineers to become familiar with oils and greases which are related to automotive.

Increasing Penetration of Soy-Based Oils in Transformers:

Due to less flammable and less toxic nature inhibited by Soy-based oils, these are used in transformers. They also provide improved performance with low carbon footprint. Cellulose gets degraded when it is exposed to water or different operating temperatures of any typical transformer.

Soy-based oil works as an insulating fluid due to their nature of bio-degradable. This oil is electrically insulating fluid with a high flash point and high fire point. Maximum stability is provided by soybean oil and is specifically designed for improving dielectric stability.

Restraint:

High Demand of Conventional Lubricants:

As Conventional oils do not contain any synthetic compounds or additives. Conventional lubricants are somewhat related to synthetic lubricants and they have a variety of different categories of synthetically manufactured base oils.

These types of lubricants contain the mixture of hydrocarbon compounds that also have different properties which includes cyclo paraffin and other paraffin chains that forms the basis of lubricating oils. Since the demand of conventional lubricants is increasing, it becomes a restraint for the market of bio-based lubricants.

Opportunity:

Soy-Based Lubricants for Industrial Applications:

The usage of soy based lubricants as a replacement for petroleum lubricants has been around a decade and is becoming valuable due to volatility in prices of petroleum lubricants.

  • The United Soybean Board (USB), a promotion and research program which was funded by U.S., stated that soybean farmers recognized the importance of developing soy based lubricants.
  • One of the lubricants named NatureLube 700, a soy-based lubricant manufactured by Bioplastics Polymers, has low coefficient of friction under heavy loads whose oxidative stability is also similar to high performance synthetic lubricants which is suitable for rust- and corrosion-preventive formulations.

Challenge:

Lubricant Oxidation Can Lead To Destruction:

Challenges such as oxidation or degradation of oil additives are faced by the bio based lubricant industry. Oxidation is the mechanism of reaction with oxygen and is responsible for sludge and sediment formation, filter plugging, base oil breakdown, acid number increase, corrosion and rust. Therefore, controlling oxidation is definitely a challenge in extending the life of bio lubricant.

The most important reaction on lubricants is the breakdown of smaller chains. This breakdown results in altering the ability of the lubricant molecule to carry the load between two solid surfaces.

Major Players: Global Bio-Based Lubricants Market

Some of the major players operating in this market are:

  • Renewable Lubricants TM, Inc.
  • PANOLIN AG
  • Emery Oleochemicals
  • BENJN R. VICKERS & SONS LTD
  • Chevron Corporation
  • Total
  • Biosynthetic Technologies
  • BECHEM
  • CITGO Petroleum Corporation
  • ROCOL
  • RSC Bio Solutions
  • Royal Dutch Shell
  • Green Earth Technologies, Inc.
  • Magna International Pte Ltd.
  • Polnox Corp.
  • BIONA JERSÍN s.r.o.
  • United Bio Lube
  • IGOL
  • Quaker Chemical Corp.
  • Klüber Lubrication
  • FUCHS
  • Castrol Limited
  • Exxon Mobil Corporation
  • MMXIX DSI Ventures, Inc.