
The Bio-Lubricants Global Market Report 2023, provides comprehensive information on the bio-lubricants market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Bio-Lubricants Global Market Report 2023, the global bio-lubricants market size grew from $2.74 billion in 2022 to $2.92 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The bio-lubricants market size is expected to grow to $3.63 billion in 2027 at a CAGR of 5.5%.
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The bio-lubricants market is segmented:
By Base Oil:
Vegetable Oil
Animal Fat
Other Base Oils
By Application:
Hydraulic Oil
Metalworking Fluids
Chainsaw Oil
Mold release agents
Two-cycle engine Oils
Gear Oils
Greases
Other Applications
By End-User:
Industrial
Commercial Transport
Consumer Automobile
Other End Users
North America was the largest region in the bio-lubricants market in 2022.
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