Bio Based Lubricants Market - Global Industry Analysis, Trends and Forecast 2014 – 2020

In the last two decades, concern and awareness on the use of products derived from petroleum and their adverse impact on the environment have created an opportunity to produce environmental friendly lubricants. The advantages of environmentally acceptable products include minimal health and safety risks and less pollution. Lubricants affect the environment at all stages of production, use, and disposal and should be non-toxic to humans through contact and inhalation during production and use. Accidental losses that arise during spill can cause ecological disaster to environmentally sensitive areas such as forestry, waterways, construction, harbors, agriculture and mining. Thus, for these reasons and in response to public awareness, norms that stipulate the use of environment friendly lubricating fluids are desirable. Hence, it has created an opportunity to produce environmentally acceptable lubricants that are produced from natural esters such as vegetable oils.

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Current interest in bio based lubricants produced from renewable resources such as vegetable oils is due to their high biodegradability, low toxicity, and environment friendly nature. The natural abundance and high lubricity of vegetable oils, especially monoesters, are making pathways into various lubrication productions such as hydraulic fluids, fuels, engine oils, petroleum fuel additives and metalworking fluids. Demand for vegetable oils is increasing every year. For example, in the year 1980, annual production of vegetable oil across the globe was 55 million metric tons (MMT) and it increased to 100 MMT by 2000. It is projected that by 2020 it will reach 200 MMT.

The bio based lubricant market today mainly comes from vegetable oil and oilseeds. Most of the bio lubricants are made from esters. Firstly, there are natural esters which are triglycerides of vegetable oils. Then oleo chemical esters of...