Bio-lubricants also meet and exceed industry requirements, and many do not cost much more than their petroleum counterparts. These products are even more appealing to users.
The industry is also evolving from a product development perspective. The sustainable goals are pushing us to adopt sustainable strategies to reduce the carbon footprint and emissions of greenhouse gas. So, we are expecting the advancements in fuel and lubricants.
So, emphasis on bio-based product development has changed how companies are investing in lubricant R&D.
The research program of the University of Northern Iowa’s Ag-Based Industrial Lubricants (ABIL) has licensed 16 formulated lubricants, greases, and base oils. They use high oleic soybeans that ensure stability, genetically enhanced for durability.
These products meet and exceed industry requirements. And, many do not cost much more than their petroleum counterparts. If these products can compete in performance, it will make them even more appealing to users.
Due to their benefits, they will be more prevalent in applications where environmental and safety concerns are high. They are less frequent where petroleum products offer price and performance beyond those possible by bio-based products.
Recently, various academic institutes, along with collaboration with lubricant blenders across the globe. Also, they have conducted studies to identify viable production routes for lubricants through vegetable oils.
However, the lack of oxidative stability affects the performance of the lube oils is a particular concern in the development route is that vegetable oils.
But, it is crucial for the commercialization of bio-lubricants produced through vegetable oil.
Furthermore, the increase in R&D activities is to develop improved bio-based lubricants and rising demand.
Also, the usage of soybean and palm oil as raw materials will offer numerous opportunities for the growth of the global bio-based lubricants market.
Accordingly, major oil companies in this market, such as Total, Shell, BP, and ExxonMobil, are actively investing in R&D activities looking forward to this development.
Since 2010, Total has doubled its R&D budget, across its two centres in Lyon, France, and Mumbai, India.