MarkNtel Advisors recently published a detailed industry analysis of the Europe Bio-based Lubricants Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Europe Bio-based Lubricants Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2028
The Europe Bio-based Lubricants Market size is valued at around USD 283 Million in 2024 and is projected to grow at a CAGR of around 5.8% during the forecast period, i.e., 2023-28.
What are the major Driver the Europe Bio-based Lubricants industry?
Rising Energy Production Drives Demand for Bio-Based Lubricants in the European Market – The increasing energy production in European countries has sparked a surge in the demand for bio-based lubricants in the market. This heightened demand has been primarily attributed to the essential role lubricants play in the operation and maintenance of power generation equipment.
As these processes necessitate the use of lubricants, energy production companies, including notable players like Electricite de France SA and Engie SA, have started embracing the adoption of bio-based lubricants in the past few years. This shift also aligns with the sustainable approach adopted by governments in the region, which has been leading companies to adopt sustainable alternatives. Furthermore, the growing energy demand has prompted increased investments in the sector, which has been aimed at the development of energy plants and scaling up their production. For instance,
In 2022, the European Investment Bank invested USD400 million, to support the development and construction of renewable energy projects in Spain and Portugal.
Hence, the heightened investment in the energy sector and constant government initiatives for decarbonization of the energy sector had a positive impact on the bio-based lubricants market. Moreover, with several sustainable energy projects in the pipeline, across the countries like Germany, the UK, etc., the demand for bio-based lubricants would further accelerate in the coming years.
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What segments define the Europe Bio-based Lubricants market from 2023 to 2028? How do these segments contribute to market dynamics and growth?
- By Oil Type
- Vegetable Oil- Market Size & Forecast 2018-2028, Thousand Tons
- Canola– Market Size & Forecast 2018-2028, Thousand Tons
- Rapeseed– Market Size & Forecast 2018-2028, Thousand Tons
- Sunflower– Market Size & Forecast 2018-2028, Thousand Tons
- Soybean– Market Size & Forecast 2018-2028, Thousand Tons
- Others (Palm, Coconut Oil, etc.) — Market Size & Forecast 2018-2028, Thousand Tons
- Animal Fat-based- Market Size & Forecast 2018-2028, Thousand Tons
- Vegetable Oil- Market Size & Forecast 2018-2028, Thousand Tons
According to report, Vegetable oils dominated the Bio-based Lubricants Market due to their higher production volumes, availability, and thermal stability.
- By Application
- Hydraulic Fluids- Market Size & Forecast 2018-2028, Thousand Tons
- Metalworking Fluids- Market Size & Forecast 2018-2028, Thousand Tons
- Chainsaw Oils- Market Size & Forecast 2018-2028, Thousand Tons
- Mold Release Agents- Market Size & Forecast 2018-2028, Thousand Tons
- Two-cycle Engine Oils- Market Size & Forecast 2018-2028, Thousand Tons
- Others (Gear Oil, Greases, etc.) – Market Size & Forecast 2018-2028, Thousand Tons
- By End-User
- Industrial- Market Size & Forecast 2018-2028, Thousand Tons
- Marine– Market Size & Forecast 2018-2028, Thousand Tons
- Mining– Market Size & Forecast 2018-2028, Thousand Tons
- Energy– Market Size & Forecast 2018-2028, Thousand Tons
- Automotive- Market Size & Forecast 2018-2028, Thousand Tons
- Others (Textile, Medical, etc.) — Market Size & Forecast 2018-2028, Thousand Tons
- Transport- Market Size & Forecast 2018-2028, Thousand Tons
- Industrial- Market Size & Forecast 2018-2028, Thousand Tons
According to report, The automotive category held a dominant share, which was primarily attributed to the environmental friendliness, longevity, performance, and energy efficiency of bio-based lubricants.
Explore the Complete Europe Bio-based Lubricants Market Analysis Report – https://www.marknteladvisors.com/research-library/europe-bio-based-lubricants-market.html
Geographical Analysis: Europe Bio-based Lubricants Market
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Europe Bio-based Lubricants Market Share & Competitive Landscape:
The Europe Bio-based Lubricants Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the Europe Bio-based Lubricants Market are:
- Shell
- BP
- Chevron Corporation
- Exxon Mobil
- Castrol limited
- Fuchs
- Total Energies
- Klueber Lubrication India Pvt. Ltd.
- Biosynthetic Technology
- RSc Bio Solution
Europe Bio-based Lubricants Industry Recent Development:
- 2022: ExxonMobil increased its focus on biofuels to reduce greenhouse gas emissions in the transportation sector. They acquired a 49.9% stake in Biojet AS, a Norwegian biofuels company specializing in converting forestry & wood-based construction waste into lower-emissions biofuels & biofuel components like diesel, lubricants, etc.
- 2022: Castrol launched, BioTac MP2, a multi-purpose extreme pressure grease for exposed deck applications such as low-speed bearings & wire ropes.
Questions Addressed in this Study
1.What factors are driving the Europe Bio-based Lubricants Market growth?
2.How is the Europe Bio-based Lubricants Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Europe Bio-based Lubricants Market?
4.What is the current size of the Europe Bio-based Lubricants Market, and how is it projected to change in the future?
6.What is the future outlook for the Europe Bio-based Lubricants Market in terms of technological advancements and market expansion?
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