Biolubricants market is projected to grow at a CAGR of 4.17% to reach US$4.912 billion by 2024, from US$3.844 billion in 2018. The demand for biolubricants across various industries is significantly augmenting on account of stringent environmental regulations and standards. Booming global automotive industry is another major driver of biolubricants owing to strict emission norms for automobiles across different regions. Supportive government policies and initiatives to encourage the use of biolubricants along with high investment in R&D will further bolster the growth of global biolubricants market during the forecast period. Geographically, the market is segmented as North America, South America, Europe, Middle East and Africa, and the Asia Pacific. North America and Europe hold significant market share owing to strict regulatory standards and high awareness regarding the use of biolubricants.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the biolubricants value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the biolubricants market.
Major industry players profiled as part of the report are Quaker Chemical Corp., Emery Oleochemicals, and Renewable Lubricants™, Inc. among others.
Biolubricants market has been analyzed through the following segments: