Bio-Based Lubricants: Market Expansion Strategies

February 21, 2024 ⚊ 1 Min read ⚊ Views 27 ⚊ BUSINESS

Global Bio-Based Lubricants Market was valued at US $ 3.08 billion in 2023 and is expected to reach US $ 4.26 billion by 2032 growing at a CAGR of 4.7% during the forecast period 2024 – 2032
The automotive sector represents a significant market opportunity for bio-based lubricants, driven by the growing demand for fuel-efficient and environmentally friendly vehicles. Manufacturers are increasingly recommending bio-based lubricants for use in engines, transmissions, and other critical components to meet emissions regulations and improve overall performance. Additionally, the agricultural sector is embracing bio-based lubricants to reduce soil and water contamination, aligning with sustainable farming practices.

Read details: https://factviewresearch.com/report/global-bio-based-lubricants-market

Tags: Synthetic Lubricants, Vegetable Oil Lubricants

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