Europe Bio-based Lubricants Market Growth, Size, Trends, Demand, Share and Future Outlook
Europe Bio-based Lubricants Market Size- By Raw Material, By Application, By End User Industry- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jul-2024 | Report ID: CHEM2476 | Pages: 1 - 159 | Formats*: |
| Category : Chemical & Materials | |||
Europe Bio-based Lubricants Market Introduction and Overview
According to SPER Market Research, the Europe Bio-based Lubricants Market is estimated to reach USD 479.34 million by 2033 with a CAGR 6.03%.
The report includes an in-depth analysis of the Europe Bio-based Lubricants Market, including market size and trends, product mix, distribution channels, and supplier analysis. Bio-based lubricants, sometimes referred to as bio-lubricants, are lubricants whose primary constituents or base are renewable, bio-derived materials. Natural sources like vegetable oils, animal fats, and other bio-based feedstock are the source of these lubricants. They are made for the automotive, industrial, marine, and aerospace industries, among other uses, where they lubricate and lessen friction between moving parts.
- In 2022, ExxonMobil increased its focus on biofuels in an effort to reduce greenhouse gas emissions associated with transportation. They acquired a 49.9% stake in Biojet AS, a biofuels business located in Norway that produces low-emission biofuels and biofuel components including lubricants and diesel from wood-based construction waste and forestry.
- In 2022, Castrol introduced BioTac MP2, an all-purpose extreme pressure grease with several uses for exposed deck applications, including wire ropes and low-speed bearings.
Market Opportunities and Challenges
Opportunities: Growing mining sector should boost demand for bio-based lubricants in the forecast years. In European countries such as Germany and the United Kingdom, the mining sector would provide a substantial opportunity for bio-based lubricant manufacturers. Governments across Europe are attempting to reduce reliance on imported key minerals by revitalising mining activities and achieving self-sufficiency in the supply of important minerals. They are taking steps to increase mineral manufacturing across the country through investments, initiatives, and collaborations. In addition, governments across Europe have taken steps such as investing in the mining sector to increase the use of sustainable resources. This is consistent with the European countries' green transition goal of reducing carbon emissions to near-zero levels in future years. As a result, as the mining sector expands and strives for sustainable resources, demand for bio-based lubricants is likely to surge in the region over the next few years.
Challenges: High costs associated with the production of bio-based lubricants - The high production cost has been a major hurdle for companies encouraging the expansion of bio-based lubricants in the market. Bio-based lubricants were much more expensive to manufacture than traditional lubricants due to the high cost of raw materials sourced from crops such as corn, soybeans, and sugarcane, which are more expensive than the components used in petroleum-based lubricants. Furthermore, the manufacturing process for bio-based lubricants has been highly complex, requiring significant energy consumption and heavy equipment. As a result, the entire cost of producing bio-based lubricants was much greater than their conventional equivalents. The price discrepancy between bio-based and conventional lubricants made it difficult for bio-based lubricants to compete effectively in the market and acquire widespread acceptability.
Market Competitive Landscape
The bio-based lubricants market competitive landscape gives information by competitor. Details include the company's overview, financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The preceding data points are only relevant to the companies' concentration on the bio-based lubricant market. Key market players are Shell group of companies, BP, Chevron Corporation, Exxon Mobil Corporation, CASTROL LIMITED, FUCHS, Green Earth Technologies, Inc, Magna International Pte Ltd, Polnox Corp, KLÃœBER LUBRICATION INDIA Pvt Ltd, MMXIX DSI Ventures, Inc, Biosynthetic Technologies, Mitsubishi Chemical Corporation, Novozymes, BASF SE.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Raw Material, By Application, By End User Industry |
| Regions covered | Germany, France, Italy, UK, Russia, and the Rest of Europe. |
| Companies Covered | Shell group of companies, BP, Chevron Corporation, Exxon Mobil Corporation, CASTROL LIMITED, FUCHS, Green Earth Technologies Inc., Magna International Pte Ltd, Polnox Corp, KLÃœBER LUBRICATION INDIA Pvt Ltd, MMXIX DSI Ventures Inc., Biosynthetic Technologies, Mitsubishi Chemical Corporation, Novozymes, BASF SE. |
COVID-19 Impact on Europe Bio-based Lubricants Market
COVID-19 expanded throughout major global economies, resulting in nationwide lockdowns that affected a wide range of sectors. During the outbreak, the automotive industry was one of the hardest hit, affecting the demand for bio-lubricants. During the coronavirus epidemic, demand for bio-lubricants declined. One of the most pressing problems is the scarcity of raw materials, which will limit businesses' capacity to meet consumer demand. During the epidemic, government laws curtailed production for an extended period of time. Rising environmental concerns are putting pressure on governments to address serious climate challenges, and as a result, they are investing in eco-friendly functions and products. Furthermore, firms' various efforts to expand the bio-lubricants market size will have a favourable impact in the post-COVID-19 era and yield huge market returns.
Key Target Audience:
- Automotive Manufacturers
- Industrial Machinery Manufacturers
- Marine and Aviation Sectors
- Agricultural Equipment Manufacturers
- Renewable Energy Sector
- Government and Regulatory Bodies
- Environmental Organizations
- Lubricant Distributors and Retailers
Our in-depth analysis of the Europe Bio-based Lubricants Market includes the following segments:
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| By Application: |
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| By End User Industry: |
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Key Topics Covered in the Report:
- Europe Bio-based Lubricants Market Size (FY’2024-FY’2033)
- Overview of Europe Bio-based Lubricants Market
- Segmentation of Europe Bio-based Lubricants Market By Raw Material (Plant Oil, Animal Oil, Others)
- Segmentation of Europe Bio-based Lubricants Market By Application (Hydraulic Oil, Metal Working Fluids, Penetrating Oils, Grease, Transformer Oil, Crankcase Oils Engine Oils, Elevator Hydraulic Fluid, Bar and Chain Oil, Firearm Lubricant, Others)
- Segmentation of Europe Bio-based Lubricants Market By End User Industry (Power Generation, Automotive and Other Transportation, Heavy Equipment, Food and Beverage, Metallurgy and Metalworking, Chemical Manufacturing, Other End-user Industries)
- Statistical Snap of Europe Bio-based Lubricants Market
- Expansion Analysis of Europe Bio-based Lubricants Market
- Problems and Obstacles in Europe Bio-based Lubricants Market
- Competitive Landscape in the Europe Bio-based Lubricants Market
- Impact of COVID-19 and Demonetization on Europe Bio-based Lubricants Market
- Details on Current Investment in Europe Bio-based Lubricants Market
- Competitive Analysis of Europe Bio-based Lubricants Market
- Prominent Players in the Europe Bio-based Lubricants Market
- SWOT Analysis of Europe Bio-based Lubricants Market
- Europe Bio-based Lubricants Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Europe Bio-based Lubricants Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Europe Bio-based Lubricants Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Bio-based Lubricants Market
7. Europe Bio-based Lubricants Market, By Raw Material (USD Million) 2020-2033
7.1. Europe Bio-based Lubricants Market Size, Share and Forecast, By Raw Material, 2020-20267.2. Europe Bio-based Lubricants Market Size, Share and Forecast, By Raw Material, 2027-20337.3. Plant Oil7.4. Animal Oil7.5. Others
8. Europe Bio-based Lubricants Market, By Application (USD Million) 2020-2033
8.1. Europe Bio-based Lubricants Market Size, Share and Forecast, By Application, 2020-20268.2. Europe Bio-based Lubricants Market Size, Share and Forecast, By Application, 2027-20338.3. Hydraulic Oil8.4. Metal Working Fluids8.5. Penetrating Oils8.6. Grease8.7. Transformer Oil8.8. Crankcase Oils Engine Oils8.9. Elevator Hydraulic Fluid8.10. Bar and Chain Oil8.11. Firearm Lubricant8.12. Others
9. Europe Bio-based Lubricants Market, By End User Industry (USD Million) 2020-2033
9.1. Europe Bio-based Lubricants Market Size, Share and Forecast, By End User Industry, 2020-20269.2. Europe Bio-based Lubricants Market Size, Share and Forecast, By End User Industry, 2027-20339.3. Power Generation9.4. Automotive and Other Transportation9.5. Heavy Equipment9.6. Food and Beverage9.7. Metallurgy and Metalworking9.8. Chemical Manufacturing9.9. Other End-user Industries
10. Europe Bio-based Lubricants Market Forecast, 2020-2033 (USD Million)
10.1. Europe Bio-based Lubricants Market Size and Market Share
11. Europe Bio-based Lubricants Market, By Region, 2020-2033 (USD Million)
11.1. Europe Bio-based Lubricants Market Size and Market Share By Region (2020-2026)11.2. Europe Bio-based Lubricants Market Size and Market Share By Region (2027-2033)11.3. Germany11.4. France11.5. Italy11.6. UK11.7. Russia11.8. Rest of Europe
12. Company Profile
12.1. Shell group of companies
12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments
12.2. BP
12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments
12.3. Chevron Corporation
12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments
12.4. Exxon Mobil Corporation
12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments
12.5. CASTROL LIMITED
12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments
12.6. FUCHS
12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. Green Earth Technologies, Inc
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments
12.8. Magna International Pte Ltd
12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments
12.9. Polnox Corp
12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments
12.10. KLÃœBER LUBRICATION INDIA Pvt. Ltd
12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments
12.11. MMXIX DSI Ventures, Inc
12.11.1. Company details12.11.2. Financial outlook12.11.3. Product summary12.11.4. Recent developments
12.12. Biosynthetic Technologies
12.12.1. Company details12.12.2. Financial outlook12.12.3. Product summary12.12.4. Recent developments
12.13. Mitsubishi Chemical Corporation
12.13.1. Company details12.13.2. Financial outlook12.13.3. Product summary12.13.4. Recent developments
12.14. BASF SE
12.14.1. Company details12.14.2. Financial outlook12.14.3. Product summary12.14.4. Recent developments
12.15. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Europe Bio-based Lubricants Market is projected to reach USD 479.34 million by 2033, growing at a CAGR of 6.03% during the forecast period.
Europe Bio-based Lubricants Market grew in Market size from 2024. The Market is expected to reach USD 479.34 million by 2033, at a CAGR of 6.03% during the forecast period.
Europe Bio-based Lubricants Market CAGR of 6.03% during the forecast period.
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Europe Bio-based Lubricants Market size is USD 479.34 million from 2024 to 2033.
Europe Bio-based Lubricants Market is covered By Raw Material, By Application, By End User Industry.
The Europe is anticipated to have the highest Market share in the Europe Bio-based Lubricants Market.
Natural sources like vegetable oils, animal fats, and other bio-based feedstock are the source of these lubricants.
The key players in the Market include Companies Covered Shell group of companies, BP, Chevron Corporation, Exxon Mobil Corporation, CASTROL LIMITED, FUCHS, Green Earth Technologies, Inc, Magna International Pte Ltd, Polnox Corp, KLÜBER LUBRICATION INDIA Pvt Ltd, MMXIX DSI Ventures, Inc, Biosynthetic Technologies, Mitsubishi Chemical Corporation, Novozymes, BASF SE.
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