Report : South & Central America Biolubricants Market Forecast to 2028 – COVID-19 Impact and Regional Analysis– by Base Oil (Vegetable Oils, Animal Fats, and Others), Application (Gear Oils, Hydraulic Oils, Metalworking Fluids, Greases, and Others), and End Use (Automotive, Industrial, Marine, Agriculture & Forestry, and Others)

At 2.4% CAGR, the South & Central America Biolubricants Market is speculated to be worth US$ 62.22 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the South & Central America biolubricants market was valued at US$ 53.88 million in 2022 and is expected to reach US$ 62.22 million by 2028, registering a CAGR of 2.4% from 2022 to 2028. Growing automobile sector are the critical factors attributed to the South & Central America biolubricants market expansion.

Replacing hydrocarbon-based oils with biodegradable products is one of the ways to reduce the adverse effects of lubricants on the ecosystem. With increasing regulatory pressure on improving the fuel efficiency of vehicles and reducing emissions of greenhouse gases, there has been a remarkable development in oil lubricant formulations. Thus, the growing automotive industry and stringent government policies on reducing greenhouse gas emissions are driving the South and Central America biolubricants market growth.

On the contrary, high cost and difficulty in obtaining desired properties of biolubricants hampers the South & Central America biolubricants market.

Based on base oil, the South & Central America biolubricants market is segmented into vegetable oils, animal fats, and others. The vegetable oils segment held 78.7% share of South & Central America biolubricants market  in 2022, amassing US$ 42.38 million. It is projected to garner US$ 49.45 million by 2028 to expand at 2.6% CAGR during 2022–2028.

Based on application, the South & Central America biolubricants market is segmented into gear oils, hydraulic oils, metalworking fluids, greases, and others. The hydraulic oils segment held 35.8% share of South & Central America biolubricants market in 2022, amassing US$ 19.31 million. It is projected to garner US$ 23.19 million by 2028 to expand at 3.1% CAGR during 2022–2028.

Based on end use, the South & Central America biolubricants market is segmented into automotive, industrial, marine, agriculture & forestry, and others. The industrial segment held 44.8% share of South & Central America biolubricants market in 2022, amassing US$ 24.12 million. It is projected to garner US$ 27.92 million by 2028 to expand at 2.5% CAGR during 2022–2028.

Based on country, the South & Central America biolubricants market  has been categorized Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 49.4% share of South & Central America biolubricants market  in 2022. It was assessed at US$ 26.61 million in 2022 and is likely to hit US$ 31.08 million by 2028, exhibiting a CAGR of 2.6% during the forecast period.

Key players dominating the South & Central America biolubricants market are Fuchs Petrolub SE; Kluber Lubrication GmbH & Co KG; Shell Plc; and TotalEnergies SE, among others.

  • In 2022; PANOLIN HLP SYNTH 32 & 46, environmentally acceptable hydraulic fluids, are listed on the Bosch Rexroth Fluid Rating List 90245. These two products passed the extremely tough testing procedures, and received c approval. 

Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com

Download Free PDF Brochure