Global Biolubricants Business Report 2023: A $3.2 Billion Market by 2030 - Increasing Focus on Biodegradable, Non-toxic, and Eco-Friendly Products

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May 08, 2023, 18:00 ET

DUBLIN, May 8, 2023 /PRNewswire/ -- The "Biolubricants: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Biolubricants Market to Reach $3.2 Billion by 2030

The global market for Biolubricants estimated at US$2 Billion in the year 2022, is projected to reach a revised size of US$3.2 Billion by 2030, growing at a CAGR of 5.8% over the analysis period 2022-2030.

Vegetable Oils, one of the segments analyzed in the report, is projected to record a 6.4% CAGR and reach US$1.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Animal Fats segment is readjusted to a revised 5.6% CAGR for the next 8-year period.

The U.S. Market is Estimated at $374.8 Million, While China is Forecast to Grow at 8.2% CAGR

The Biolubricants market in the U.S. is estimated at US$374.8 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$313.4 Million by the year 2030 trailing a CAGR of 8.2% over the analysis period 2022 to 2030. A

mong the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 4.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.6% CAGR.

Looking Ahead to 2023

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet.

Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth.

Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.

Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New for 2023?

Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year

MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
Impact of Covid-19 and a Looming Global Recession
Weak Economic Environment Discourages Market Prospects
Limited Market Opportunities amid Subdued Industrial Activity
Despite Moves to Reopen the Economy, Battered Business Confidence Plummets to New Depths: Business Confidence Index (BCI) Points
Biolubricants: A Cleaner and Sustainable Alternative to Petroleum-Based Lubricants
Biolubricants Score over Petroleum Based and Synthetic Lubricants
Environmental Fears Drive Biolubricants Demand
Key Features and Corresponding Benefits of Biolubricants
Properties of Biolubricants by Base Stock
Biodegradability of Select Base Fluids
Biodegradability - The USP of Biolubricants
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Global Biolubricant Market Set for a Rapid Growth Post COVID-19
Industrial and Automotive - The two Major End-use Markets
Europe and the US Dominate, Asia-Pacific Offers Significant Growth Opportunities
Competition

MARKET TRENDS & DRIVERS

Growing Concerns over Rising Emissions to Encourage Demand for Biolubricants
Excessive Dependence on Crude Oil Drives the Demand for Biolubricants
Increasing Focus on Biodegradable, Non-toxic, and Eco-Friendly Products: A Strong Growth Driver
Stringent Environmental Regulations Stimulate the Market
Increasing Environmental Awareness Propels Biodegradable Hydraulic Oils Demand
Projected Rise in Auto Sales & Vehicle Miles Boosts Market Deman
Biolubricants to Replace Hydrocarbon based Oils in Passenger Cars
Excellent Lubricity: A Key Scoring Point in Engines Powered by ULSD Fuel
Increased Importance of Lubricants in Automotive Servicing Augurs Well for Market Growth
Surging Demand for Low Viscosity Fluids to Benefit Biolubricants
Rising Concerns over Oil Related Water Pollution Bodes Well for the Market
Increasing Demand for Biolubricants in the Marine Industry
Agriculture and Forest Machinery Benefits from Bio-Based Oils
Biolubricants Gain Prominence in Construction Machinery
Expanding Machine Tools Sector Spurs Demand Growth
Rising Focus on Wind Energy to Benefit Biolubricants

FOCUS ON SELECT PLAYERS (Total 84 Featured)

BP Plc
Cargill, Incorporated;Chevron Corporation
Emery Oleochemicals Group
Eurol B.V.
ExxonMobil Corporation
Fuchs Petrolub SE
HollyFrontier Corporation
Millers Oils Ltd.
NuPro Industries Corporation
Panolin AG
Renewable Lubricants, Inc.
Royal Dutch Shell plc
Total SE
Valvoline Inc.

For more information about this report visit https://www.researchandmarkets.com/r/l7sq9t

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