Bio-lubricants Market End-use Industry, By Others
| Label | Bio-plastics | Bio-lubricants | Bio-solvents | Bio-surfactants | Bio-based acids | Bio-alcohols | Others |
|---|---|---|---|---|---|---|---|
| 2015 | 5593.7 USD Mn | 3160.1 USD Mn | 2253.1 USD Mn | 2364.5 USD Mn | 11969.0 USD Mn | 22952.2 USD Mn | 5932.1 USD Mn |
| 2016 | 5324.9 USD Mn | 2930.9 USD Mn | 2034.7 USD Mn | 2189.0 USD Mn | 11292.5 USD Mn | 21289.4 USD Mn | 5480.9 USD Mn |
| 2017 | 5746.3 USD Mn | 3083.2 USD Mn | 2084.0 USD Mn | 2298.6 USD Mn | 12084.4 USD Mn | 22397.9 USD Mn | 5743.7 USD Mn |
| 2018 | 6484.3 USD Mn | 3393.4 USD Mn | 2233.3 USD Mn | 2525.2 USD Mn | 13529.9 USD Mn | 24653.9 USD Mn | 6297.6 USD Mn |
| 2019 | 7276.2 USD Mn | 3716.0 USD Mn | 2381.2 USD Mn | 2760.2 USD Mn | 15071.5 USD Mn | 26999.5 USD Mn | 6869.8 USD Mn |
| 2020 | 8168.0 USD Mn | 4072.7 USD Mn | 2541.0 USD Mn | 3019.7 USD Mn | 16803.3 USD Mn | 29594.0 USD Mn | 7500.6 USD Mn |
| 2021 | 9205.2 USD Mn | 4483.3 USD Mn | 2723.6 USD Mn | 3318.1 USD Mn | 18816.8 USD Mn | 32580.9 USD Mn | 8225.3 USD Mn |
| 2022 | 10371.0 USD Mn | 4936.1 USD Mn | 2919.6 USD Mn | 3646.6 USD Mn | 21074.8 USD Mn | 35874.9 USD Mn | 9021.5 USD Mn |
| 2023 | 11681.1 USD Mn | 5435.5 USD Mn | 3130.3 USD Mn | 4008.3 USD Mn | 23607.5 USD Mn | 39507.9 USD Mn | 9896.4 USD Mn |
Data Source: Wantstats Repository
Market Dynamics
bio alcohols segment accounted for the largest market share in the bio-based chemicals market, and is expected to reach USD 39507.90 Million in 2023 from USD 24653.90 Million in 2018. However, bio plastics segment is the fastest growing market, which is expected to grow at a CAGR of 12.56% during the forecast period 2019 - 2023.
Research Methodology
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2023.
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