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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 bio-lubricants market size is expected to grow to $3.63 billion in 2027 at a CAGR of 5.5%.
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Bio-Lubricants Global Market Report 2023 Market Size, Trends and Global Forecast 2023-2032
Bio-Lubricants Market Definition The bio-lubricants are used as an alternative lubricant for industrial and maintenance applications because of their superior inherent qualities. These are functional fluids made from vegetable oils and downstream esters. They are produced by using raw materials including rapeseed oil, sunflower oil, palm oil, coconut oil, and animal fats and offer several advantages over conventionally used petroleum-based products. They are non-toxic, renewable, carbon-neutral, and environmentally friendly. They are also known as bio-lubes. Click Here To Read More Insights on This Report @The Business Research Company. All rights reserved.
Bio-Lubricants Market Characteristics: Global Bio-Lubricants Market Size Forecast To 2032 The global bio-lubricants market size grew from $2.74 billion in 2022 to $2.92 billion 3.63 in 2023 at a compound annual growth 2.92 2.74 rate (CAGR) of 6.6%. The bio-lubricants market size is expected to grow to $3.63 billion in 2027 at a CAGR of 5.5%. 2022 2023 2027 Click Here To Get A Sample Report @The Business Research Company. All rights reserved.
Bio-Lubricants Market Segments The report covers the Bio-Lubricants market’s segments- By Application By End-User By Base Oil Hydraulic Oil, Metalworking Fluids, Chainsaw Oil, Mold release agents, Two-cycle engine Oils, Gear Oils, Greases, Other Applications Vegetable Oil, Animal Fat, Other Base Oils Industrial, Commercial Transport, Consumer Automobile, Other End Users @The Business Research Company. All rights reserved.
Major companies in the market include Binol Biolubricants British Petroleum Key Market Players Cargill Corporation Chevron Corporation Royal Dutch Shell PLC Click Here To Get A Sample Report @The Business Research Company. All rights reserved.
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