Biodegradable Greases Market

Global Biodegradable Greases Market Size (2024 to 2029)

The global Biodegradable Greases market size is expected to be worth USD 3.61 billion in 2024 and USD 4.52 million by 2029, growing at a CAGR of approximately 4.6% during the forecast period.

MARKET OVERVIEW

Greases are a type of shear-thinning or pseudo-plastic fluid, meaning the fluid's viscosity is reduced below shear. Following the application of sufficient power to shear the grease, the viscosity reduces to that of the basic lubricant, such as mineral oil. Biodegradable greases are made up of a combination of non-toxic biodegradable bases and particular additives that enable them their intended qualities.

Biodegradable greases are a viable substitute for mineral-based lubricants since they are more environmentally friendly. Biodegradable greases are primarily used to reduce friction among moving surfaces and to facilitate the transportation of foreign particles. These greases are produced in such a way that when discharged into the environment, they deteriorate. Biodegradable grease is ideal for devices used in resource sectors such as forestry, mining, and some oil and gas production, as well as any other application where the greases may come into touch with the environment. The forestry, marine, and agriculture businesses, as well as civic organizations and governments, are growing increasingly concerned about their environmental responsibilities. Biodegradable greases are also used in a variety of applications where grease is likely to end up in the environment.

MARKET DRIVERS

The growing choice towards bio-chemicals as pro-environmental solutions is a major driver propelling the worldwide market forward. The expansion of this market would be aided by increased regulations and measures done by government regulatory organizations for the production of biodegradable greases. Bio-lubricants are many superior alternatives to traditional petroleum-based greases due to their environmentally benign nature and quick degradability.

The increasing use of biodegradable greases by users, owing to the growing need for enhanced vehicle fuel efficiency and the conventional materials being replaced by synthetic greases, is a significant development within the global market. Customers have begun to use biodegradable greases, resulting in the global market's development. Because biodegradable greases are renewable, non-toxic, and ecologically benign, they are in high demand. The growing relevance of eco-friendly greases as a result of increased worries about synthetic lubricants also will contribute to the market's growth. Furthermore, biodegradable greases such as water-soluble poly glycols, polyester, & vegetable oils are used in households, coastal regions, and a variety of other ecologically sensitive applications, ensuring the entire market's development.

MARKET RESTRAINTS

The major restraining factor that hampers the global biodegradable grease market is the market is hampered by the high cost of bio-based lubricants and their low lubricating properties. Vegetable oil-based lubricants are both organic and biodegradable, making them a viable alternative to traditional lubricants. Low oxidative characteristics, thermal and hydrolytic stability, poor low-temperature qualities, and a small range of accessible viscosities limit their direct usage as base oils. These disadvantages can be reduced by chemical changes, antioxidant formulas, and mineral oil mixtures. They do, however, lead to higher expenses, pollution, and a decrease in biodegradability. As a result, developing cost-effective bio-lubricants with a breakthrough mix of biodegradability and excellent lubricant characteristics is a major problem.

The growing relevance of eco-friendly greases as a result of increased worries about synthetic lubricants also will contribute to the market's growth. Furthermore, biodegradable greases including such as water-soluble poly glycols, polyester, & vegetable oils are used in households, coastal regions, and a variety of other ecologically sensitive applications, ensuring the entire market's development.

Impact of COVID-19 on the global Biodegradable Greases Market

COVID-19's negative effects can result in the delay or even extension of rules governing conventional lubricants, in addition to the negative impact on volume demand. Meanwhile, the European vehicle sector has urged the European Commission to relax its carbon reduction targets. Furthermore, owing to COVID-19, the number of investments made will most certainly be reduced or terminated for most of 2020. Due to the lockout, laboratories and technical facilities have been closed, putting fresh research initiatives for clients on wait. Because of its healthier environmental credentials and existence, as well as greater worker protection and efficiency, bio-based lubricants are projected to play a big role in assisting nations in transitioning to a carbon-neutral economy. The pandemic has had a significant impact on stakeholders in the bio-based lubricant supply chain because to the decline in transportation and manufacturing activity. When more people began working remotely in the transportation industry, maintenance intervals, automobile utilization, and vehicle purchases all decreased.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Biodegradable Greases Market By Type

During the forecast period, the vegetable-based grease sector of the Global Biodegradable Greases Market is estimated to grow at the highest CAGR Rate. The vegetable-based grease category has a dominant market position due to its low toxicity, high biodegradability, and high lubricity. Total vegetable-oil greases can be made by combining prepared soaps and lubricants in the right quantities to create grease with the necessary qualities. Alternatively, grease can be made from the same vegetable oil by alcoholysis and saponification of the oil at the same time to produce the lubricant and soap.

Global Biodegradable Greases Market By Application

Hydraulic fluids dominated the market. In forests, bio-based lubricants are often used as hydraulic fluids to enhance cranes, tractors, harvesters, and load carriers. Owing to the increased utilization of biodegradable grease therefore in the application, the motor vehicle is predicted to develop at the highest CAGR over the Global Biodegradable Greases Market.

REGIONAL ANALYSIS

North America now has the majority of the market share and therefore it is anticipated to do so during the forecast period.

The worldwide market is predicted to be driven by a revitalized automobile sector in the United States and Canada, as well as the US government's increasing regulatory interventions surrounding the use of such traditional lubricants. The United States Air Factor advocates the use of plant-derived biodegradable goods as part of its strategic and fundamental approach to national security, which is another market-directing force. Government expenditure on bio-lubricants used in the maritime and automotive industries is expected to increase, presenting the market with attractive potential.

In the Asia Pacific Region, Because of the growing automotive and construction industries, it is expected to contribute a large part of both the worldwide market.

Other than affluent countries like the United States and Germany, Asia Pacific is a sanctuary to significant car production centers. China, India, Indonesia, and Thailand, for instance, produce and export passenger automobiles and other vehicles to industrialized countries. Because of favorable government regulations and inexpensive labor, the relocation of manufacturing operations to countries in the Asia Pacific is expected to promote vehicle expenditure and industrialization. In addition, the region's need for bio-lubricants is likely to be fueled by a shift in the trend toward more sustainable, productive automobiles.

In Europe, nations like Germany, Italy, the Nordic countries, the Benelux countries, and France, stringent laws and the growing transition toward a bio-economy are encouraging and helping in the growth of the global biodegradable grease market.

KEY PLAYERS IN THE GLOBAL BIODEGRADABLE GREASES MARKET

PANOLIN, Fuchs, Total, Shell, ExxonMobil Corporation, BP, Klüber Lubrication, BECHEM are some of the notable companie in the global Biodegradable Greases market.

RECENT HAPPENING IN THE MARKET

• 30^th July 2021: Rammer has introduced BIO Tool Lubricant, a biodegradable grease for hydraulic rock breakers, as part of its ongoing efforts to enable more environmentally friendly rock-breaking operations. Rammer, which is part of Sandvik's Rock Processing Solutions business group, specializes in hydraulic attachments. Rammer has developed fantastic customer experiences via the use of integrated smart technologies and consumer-focused product features.
• 16^th June 2021: Peaty's introduces a new line of biodegradable greases. Peaty's Bicycle Assembly Grease is made with the most up-to-date base oils and additives for long-lasting, low-friction performance. The grease also has good water resistance, anti-corrosion qualities, and adherence to metal parts yet is suitable with most other greases. Peaty's base oils have been developed using synthesized esters with a high polarity to guarantee that the grease sticks to metallic components.

DETAILED SEGMENTATION OF THE GLOBAL BIODEGRADABLE GREASES MARKET INCLUDED IN THIS REPORT

This research report on the global biodegradable greases market has been segmented and sub-segmented based on type, application, and region

By Type

• Synthetic Greases
• Mineral Oil-Based Greases
• Vegetable-Based Greases
• Other

By Application

• Hydraulic fluids
• Metalworking fluids
• Chainsaw oil
• Mold release agents
• Two-cycle engine oils
• Motor vehicle
• Non-motor vehicle
• Gear oils
• Greases
• Others

By Region

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• Middle east and Africa