Bio-Based Automotive Lubricants

Bio-Based Automotive Lubricants

The bio-based automotive lubricant market refers to the industry segment that produces and distributes lubricants used in automobiles, made from renewable or bio-based sources rather than traditional petroleum-based sources. These lubricants are formulated using a range of vegetable oils, animal fats, and other renewable resources. Increasing awareness about climate change and the need to reduce greenhouse gas emissions has led to a growing demand for sustainable and eco-friendly alternatives. Bio-based lubricants offer a reduced carbon footprint and contribute to a cleaner environment.

The bio-based automotive lubricant system market is expected to grow at a strong CAGR of 4.90 % during the forecast period owing to superior lubrication properties, resulting in reduced friction and improved energy efficiency. This not only benefits the performance and longevity of automotive engines but also helps in achieving better fuel efficiency. Additionally, Bio-based lubricants have witnessed significant advancements in terms of product quality and performance, making them on par with or even superior to traditional lubricants. As a result, the market competitiveness of bio-based lubricants has increased, driving their adoption in the automotive industry.

• Based on product type, the market is segmented into engine oils, transmission fluids, hydraulic fluids, greases and others. Amongst these, the engine oils segment held a dominating share of the market in 2022. Engine oils splay a critical role in ensuring the smooth operation, performance, and longevity of engines. Bio-based engine oils, which are formulated using renewable and sustainable resources, have improved over the years in terms of their performance, efficiency, and protection properties. This has enhanced their appeal among consumers. Additionally, Governments and regulatory bodies in various countries have been implementing policies and providing incentives to encourage the adoption of sustainable practices, including the use of bio-based products. This support has helped promote the growth of the bio-based automotive lubricant market, with engine oils being a major segment
• Based on vehicle type, the market is segmented into passenger vehicles, commercial vehicles, and electric vehicles. Amongst these, the passenger vehicles segment held a dominating share of the market in 2022. Passenger vehicles, including cars and SUVs, have a significantly higher number of units on the road compared to other vehicle types like commercial trucks or motorcycles. This larger market size contributes to the dominant share. Furthermore, the passenger vehicle segment encompasses a wide variety of vehicles, ranging from compact cars to luxury sedans and SUVs. Different vehicles require specific lubricant formulations to meet their unique performance requirements. This variety increases the overall demand for bio based automotive lubricants within the passenger vehicle segment.
• Based on base oil type, the market is segmented into vegetable oil, animal fat, synthetic esters, and bio-based polyalphaolefins. The oil & gas segment has a dominating share in the automatic tube cleaning system market because the oil and gas industry rely heavily on heat exchangers for various processes, including crude oil processing, natural gas liquefaction, and petrochemical refining. These heat exchangers are susceptible to fouling and scaling, which can significantly impair their efficiency and performance. ATCS play a critical role in maintaining the cleanliness and effectiveness of these heat exchangers, ensuring optimal plant operation and product quality. Additionally, the oil and gas industry is subject to stringent environmental regulations that govern emissions and environmental impact. ATCS can help to comply with these regulations by reducing the use of chemicals and water for cleaning and minimizing the environmental footprint of oil and gas operations.
• For a better understanding of the market adoption of the bio-based automotive lubricant industry, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, Netherlands, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific), Rest of World. In 2022, the Asia Pacific region held a dominating share of the bio-based automotive lubricant. The Asia Pacific region is home to some of the largest automotive markets, including China, Japan, and India. With a robust automotive industry, there is a higher demand for lubricants, and this demand is increasingly being fulfilled by bio-based alternatives. The Asia Pacific region has been experiencing a growing awareness of environmental issues, such as climate change and pollution. This has led to a higher demand for eco-friendly products, including bio-based lubricants. Additionally, many countries in the Asia Pacific region have implemented regulations and policies encouraging the use of bio-based materials, including lubricants, to reduce carbon emissions and promote sustainable practices. These supportive measures have played a significant role in the growth of the bio-based automotive lubricant market.
• Some major players operating in the market include Shell plc, Axel Christiernsson, BP p.l.c., Chevron Corporation, Cortec Corporation, Exxon Mobil Corporation, Klüber Lubrication München SE & Co. KG, PANOLIN AG, Cargill, Incorporated, and Repsol.