Biolubricants Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Biolubricants Market reached US$ 2.4 billion in 2023 and is expected to reach US$ 3.6 billion by 2031, growing with a CAGR of 5.2% during the forecast period 2024-2031.

Increasing demand for lubricants with exceptional product properties such as consistent viscosity, elevated flash points, biodegradability and reduced emission levels is fueling positive expansion in several industrial sectors due to strict emission standards and regulatory frameworks. Enhanced research and development efforts by major stakeholders, together with technical advancements, are anticipated to create new opportunities for lubricant applications.