Bio-lubricant is also known as bio-based lubricants or bio-lubes. They are produced from raw materials such as canola, sunflower, soybean, palm, and coconut oils. These lubricants are environment friendly, highly biodegradable, non-toxic, and safe for personnel who are handling engines and hydraulic systems.

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Based on the product, the bio-lubricant market is categorized into hydraulic fluids, metalworking fluids, engine oil, drilling oil, process oils, chainsaw oil, two-cycle engine oils, mold release agents, general industrial oil, gear oil, greases, and others. Hydraulic fluids application category is expected to hold the largest share in the market. Hydraulic fluids are widely used as a medium for transferring power and energy in hydraulic systems. In addition, bio-lubricant as hydraulic fluids are preferred choice in areas where contamination can harm the environment. Hence, such wide applicability of these fluids drives its demand, globally.

The major growth drivers identified in the global bio-lubricant market is the government initiatives towards promoting the use of bio-based lubricants for various applications. The government of various countries is also providing funding to encourage the use of these lubricants in order to combat with the increasing environment concerns around the world. This is so as the use of these lubricants offers various advantages such as toxic chemical reduction, improved water quality, and greenhouse gas emissions reduction. Hence, increasing governmental support is expected to drive the market growth.

Europe is the largest consumer of these lubricants in the bio-lubricant market. The largest growth in the region is attributable to the presence of various emission standards and the use of biodegradable products. North American is expected to register the highest growth in the coming years. This is backed by high investments by bio-based lubricants manufacturers for new product launches and the expansion of their production capacities to increase market leadership.

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Bio-based lubricants offer several advantages over conventionally used petroleum-based products, in that these are non-toxicity, renewable, and environment friendly. Owing to high flash point and high stability, bio-based lubricants are relatively safer to use over conventional lubricants. This has resulted in a shift in preference of consumers from petrol-based lubricants to bio-based lubricants, thus forming a major trend in the bio-lubricant market.

The processes involved in the production of bio-based lubricants requires higher cost. Also, exploring niche application areas of these lubricants is expensive. Hence, bio-based lubricants cost is the higher as compared to petroleum-based lubricants, thus forming a major restraint in the bio-lubricant market.