Background
Indonesia is currently the world's largest producer of palm oil with 56 million tons. Exports amount to 26.33 million tons and occupy 54% of the world market.
Industrial applications and products
Potentially, palm oil can be used not only as a foodstuff and in the food industry, but also as a raw material for the production of biodegradable lubricants and hydraulic fluids. Palm oil can be used to produce the following products:
- Hydraulic fluids
- Cutting fluids
- Bar and chain saw oils
- Loosing oils
- Wire rope oils
- Demoulding oils (separation oils — building industry)
VEGETABLE BASE OIL
- Hydraulic fluids
- Tractor oils (UTTO)
- Turbine oils
- Compressor oils
- Engine oils (2T)
- Gear oils
SYNTHETIC ESTER BASE OILS
Market
The global biolubricants market size was valued at USD 2,461.2 million in 2022 and is anticipated to grow at a CAGR of 5.3% from 2023 to 2030, owing to increasing application in the transportation & manufacturing industries.
North America and Europe are the most important markets for biolubricants. Together, the two regions account for 85 to 90 percent of the global market.
The largest consumer of biolubricants in the world is the United States, closely followed by several European countries, such as Germany and the Nordic quartet (Sweden, Denmark, Norway and Finland).
The expanding automotive sector, especially in developing regions such as India, China, South Africa, and Brazil, is also expected to drive the consumption of eco-friendly products that help improve fuel efficiency and reduce carbon emissions from vehicles. The production of bio-based lubricants is still highly dependent on the supply of vegetable and animal oils, which are by-products of other industrial processes.
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