Frequently Asked Question
The global carbon-neutral lubricants market was valued at USD 100.5 Billion in 2022.
The carbon-neutral lubricants market is expected to grow at a CAGR of 6.8% between 2023 and 2030, reaching USD 159.3 Billion in 2030.
Animal fat is the leading segment by base type, holding over 60% share in value in 2022.
The processed oil segment governs the world’s demand for carbon-neutral lubricants, holding a massive share of over 30% in 2022.
The automotive segment will post the highest CAGR during the forecast period.
Asia Pacific is fueling the growth of the carbon-neutral lubricants industry, with an over one-third share in 2022.
Top players are Amsoil Inc., Blaser Swisslube Inc., BP PLC., Buhmwoo Chemical Co. Ltd., Castrol India Ltd., and Chevron Corp.
The growing automotive industry is the major market driver.
High cost of carbon-neutral lubricants is the major market restraint.
Increasing applications of carbon-neutral lubricants.