By: Lubestoday

---

Biolubricants are a small fraction of the lubricating oil market. They are most often found in applications where biodegradable lubricants are mandated due to the need to minimise the environmental impact caused by mineral-based lubricating oils where the lubricant may leak or be spilled. In particular, applications which utilise all-loss lubrication systems are highly suited to biolubricants.

In certain applications, biolubricants have been found to offer outcomes which are both superior and more cost effective than those offered by conventional mineral-based lubricating oils. It is however rather saddening that up till now, Africa has not yet shown great interest in this line of the Lubricant market, with all the goodies it brings, both to the environment and the machineries.

India, China, Brazil, and South Africa are witnessing a massive increase in vehicle ownership that is consequently resulting in an increased demand for bio-lubricants in these regions. The introduction of advanced technologies in the automotive sector and regulatory norms on Green House Gas (GHG) emissions provide further traction to the market.

Bio lubricants find application in wide-ranging industrial purposes through hydraulic oils, chain saw oils, metal working fluids, and industrial gear oil. Increased applications of bio-lubricants are expected to help the market grow steadily over a CAGR of 6% during the forecast period.

Key Advantages Offered by Bio Lubricant Products include an improvement in the efficiency and performance of Industrial machinery and automotive components. These Lubricants are biodegradable and non-toxic in nature, and hence, they pose 'no threat' to the environment. The production process of these lubricants is safe, and its disposal is harmless. Bio lubricants are excellent in lubricity that makes them suitable for industrial, as well as automotive sectors. Globally, bio lubricant products are in great demand because of the advantages they offer over mineral oil based lubricants.

Features of Bio-Lubricant Products
Please find attached the features of Bio-lubricant Products.

Top Companies in the Bio Lubricant Market

The market is highly competitive, and it is expected to intensify with an increase in product extensions and technological innovations. The Bio Lubricant Market is dominated by five major vendors:
1) BP
2) Cargill
3) China National Petroleum Corporation
4) Exxon Mobil
5) Shell

With increasing prospect in the Bio-Lubricant sector of the Lubricant industry, coupled with its immense environmental advantages, we expect more companies to explore this option in coming years. This may be a fall-out of emerging stricter environmental pollution laws.

Source:https://lubestoday..com.ng/2016/07/the-prospect-of-bio-lubricant-in.html