Albany, NY -- (SBWIRE) -- 11/05/2014 -- Biolubricants, bio-based lubricants, or bio-lubes, are made using vegetable oils. This includes rapeseed, sunflower, canola, palm, soybean, sunflower, and coconut oils. Due to their harmlessness to the environment, biolubricants are most commonly used in areas where the lubricant is lost directly into the environment. This also includes total loss lubrication and the operation of machines in or around water bodies. Common total loss lubrication areas include two-stroke engines, railroad flanges, dust suppressants, cables, marine lubricants, and chainsaw bars.

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About the Biolubricants Market
The global biolubricants market includes a variety of mixtures that are mainly triglyceride esters which are derived from plant and animal oils. They are manufactured using renewable and biodegradable base stocks. They are formulated through a wide array of natural sources, including solid and low grade fats or waste materials. A majority however, is produced using plant and animal oil. Almost all biolubricants are biodegradable through means of natural wear and tear processes in water, carbonaceous land, interaction with carbon dioxide, or even a standard industrial composting environment. They are designed to be completely non-toxic when they are disposed into the environment. The primary goal for their creation is to reduce the rate of industrial pollution.

Segmentation of the Biolubricants Market

The most common method of categorizing biolubricants is through the raw material used. This includes a generalized segment of animal oil, along with a segment dedicated to vegetable oil that contains the three primary sources of palm oil, castor oil, and sunflower oil.

If we are to segregate the biolubricants market according to the application, we get:

- Automotive oils
- Process oils
- Demolding oils
- Hydraulic oils
- Chainsaw oils
- Compressor oils
- Turbine oils
- Metal working oils
- Industrial gear oils
- Lubricating grease

The biolubricants market according to the end user becomes:

- Commercial transportation lubricants
- Consumer automotive lubricants
- Industrial lubricants

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Key Players

Some of the top names to be mentioned in the global biolubricants market include United Bio Lube, Binol, British Petroleum, Chevron, Exxon Mobil, Total, Castrol, Royal Dutch Shell, Statoil Lubricants, and Lubrizol. Each of these companies has unique offerings that capture regional markets, mostly due to the ease of availability and effectiveness of a product.

Major Biolubricants Market Drivers and Restraints :

The primary driving factor for the global biolubricants market is the mounting pressure served by regulatory bodies that urge the industries to use bio-lubes on a larger scale to help protect the environment from the negative effects of conventional lubricants.

Most biolubricants are usually priced at 1.5 to 2 times the average price of conventional (synthetic) lubricants. This high price factor is the prime one that threatens to slow the growth of the biolubricants market. Other restraining factors include complexity of manufacturing biolubricants and the inability of the current rate and style of agriculture to support large scale production of biolubricants. Most oils are currently being made for human consumption. To create oil for lubricants would mean to shift the ratios to accommodate the cultivation of sufficient plants (or rearing sufficient animals) for the sole purpose of creating biolubricants. Nevertheless, the provision of fiscal incentives and an increasing level of awareness towards environmental issues are bound to create equal opportunities in the global biolubricants market.

In conclusion, the global biolubricants market that was previously valued at US$1,713 million in 2011 should reach an approximate value of US$2,377 million in 2017, after displaying a CAGR of 4.9% within that period. Most of the developed countries are expected to be the forerunners in this field. They will help pave the way for the world to gain the advantages of utilizing biolubricants on a large scale.

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