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Bio-Based Coolants Market

Bio-Based Coolants Market Analysis By Type (Glycerine, Ethylene Glycol, Propylene Glycol), By End-use Industry (Metalworking, HVAC, Automotive, Plastic Extrusion, Energy Production & Storage, Aerospace), By Region - Global Market Insights 2022 to 2032

Analysis of Bio-Based Coolants market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Bio-based Coolants Market Outlook (2022-2032)

The global bio-based coolants market is currently valued at US$ 1.16 billion and is predicted to increase in size at a CAGR of 3.2% to reach a market valuation of US$ 1.6 billion by the end of 2032.

Revenue from the sales of bio-based coolants accounted for 21.5% share of the global coolants market at the end of 2021.

Report Attributes

Details

Bio-based Coolants Market Size (2021A)

US$ 1.13 Billion

Estimated Market Value (2022E)

US$ 1.16 Billion

Forecasted Market Value (2032F)

US$ 1.6 Billion

Global Market Growth Rate (2022-2032)

3.2% CAGR

North America Market Share (2021)

~27.8%

East Asia Market Growth Rate (2022-2032)

~3.8% CAGR

United States Market Growth Rate (2022-2032)

~2.9% CAGR

Market Share of Top 5 Companies

~22.3%

Key Companies Profiled

  • Dynalene Inc.
  • Orison Marketing
  • Houghton
  • Salathe Oil Company
  • Star Brite, Inc.
  • Hangsterfer's Laboratories, Inc.
  • Kilfrost Limited
  • Petron Scientech, Inc.
  • Mitsui & Co. Ltd.
  • Neste
  • Bardahl
  • Master Fluid Solutions
  • Tower Metalworking Fluid
  • BDI Cooling Solutions
  • Saint-Gobain 2020
  • Total Coolants Management Solutions
  • Dynaflux Inc.
  • AMSOIL, Inc.

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Sales Analysis of Bio-based Coolants (2017-2021) Vs. Market Forecasts (2022-2032)

Bio-based coolants are formed with biodegradable and renewable base stocks. Being biodegradable is the most obvious advantage of bio-based lubricants. They are produced from renewable and sustainable substitutes of raw materials as compared to conventional chemical-based coolants. Bio-based coolants are thus environment-friendly and have reduced carbon content.

The market is slated to grow over the coming years at the behest of market players adopting approaches such as investing huge amounts and collaborating to develop new bio-based coolant products and optimize their methods of production.

  • Short Term (2022 Q2 to 2025): Advantages of bio-based coolants likely to drive their usage in end-use industries over the short term.
  • Medium Term (2025-2028): Unique properties of bio-based coolants, such as being less toxic and nature-friendly, likely to support medium-term growth of the market.
  • Long Term (2028-2032): Investments undertaken by key players in R&D to augment their production capacities and maintain their market position will be seen in the long term.

Over the 2017-2021 historical period, the global bio-based coolants market registered a CAGR of 2%, and according to Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 3.2% CAGR between 2022 and 2032.

Bio-based coolants market forecast by Fact.MR

Market share analysis of bio-based coolants based on type and region is provided in a nutshell in the above image. Under the type segment, the propylene glycol sub-segment dominates with 51.2% market share in 2022.

Bio-Based Coolants Market

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Why is Demand for Bio-based Coolants Rising Steadily?

“Advanced Properties of Bio-based Coolants Supporting Demand Growth”

Bio-based coolants provide naturally better lubrication and have superior viscosity and pressure performance. They also provide better thin-film strength, low volatility, and a high flash point.

These lubricants have superior lubricity, which invariably reduces friction. This reduced friction leads to a reduction in cutting forces and less production of heat in metal cutting processes and allows the tools to be fed faster. Less friction also reduces the wear on grinding wheels and cutting tools, providing them with an extended shelf life.

In addition to the above factors, bio-lubricants have much higher flash points than petroleum, which allows higher feed rates, reduction of smoke while cutting metal, and a less smoky environment. These oils also have a polar attraction to metal as compared to petroleum-based fluids that have no polarity of affinity to metal.

The polarity of bio-based lubricants offers more effective thin film protection and metal affinity to cutting tool interfaces.

Thus, all these advanced properties of bio-based coolants are set to drive their demand over the forecast years of 2022-2032.

“Gearing Applications of Bio-based Coolants Adding to their Popularity”

The characteristics of bio-based coolants benefit the processes of shaving, shaping, hobbing, grinding, broaching, etc., which aids in improving typical performance and enhancing tool life.

Speed can be increased with the help of a reduction in cutting forces and friction heat. Bio-based lubricants provide significant improvements in gear grinding, with less chance of burning any part.

Reduction in friction improves surface finish, quality, and wheel life. It also prevents premature catering, enhancing its usage in several applications.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Country-wise Insights

Why Does the U.S. Dominate the North American Bio-based Coolants Market?

The United States bio-based coolants market holds approximately 83.2% share in the North American region and is valued at US$ 268.2 million in 2022. The market is poised to expand at 3.2% CAGR owing to the growth of the manufacturing and automotive industries in the country.

Developing transport infrastructure, rising mobility, and growing demand for goods carriers from micro, small, and medium enterprises are fueling demand in the country.

Will Germany Be a Lucrative Market for Bio-based Coolant Suppliers?

The Germany bio-based coolants market dominates the European region with 23.4% market share.

Prominent and well-established market players in Germany and the European region are launching innovative bio-based coolant products. They are launching innovative and environment-friendly liquid coolants such as biodegradable coolants, natural antifreeze, etc., providing performance advantages, low viscosity, and high corrosion protection.

Furthermore, companies are constantly testing new-coolant technologies that are less costly as compared to conventional propylene glycol and can improve the working environment for operators.

Sales of bio-based coolants in Germany are expected to increase at 3.3% CAGR across the forecast period of 2022-2032.

Category-wise Insights

Why are Market Players Profiting from Bio-based Propylene Glycol?

The bio-based coolants market, under type, is segmented into glycerin, propylene glycol, bio-based ethylene glycol, and others.

Amongst them, the bio-based propylene glycol segment dominates with 51.2% share in the overall market. Growth if this segment is attributed to propylene glycol acting as a base fluid for coolants. The cost-effectiveness of this fluid and its ability to be used in all climatic conditions makes it preferable over others fluids.

Also, propylene glycol is used in several industrial and automotive engine cooling solutions, along with food and pharmaceutical applications as antifreeze products.

Thus, owing to these factors, the bio-based propylene glycol market is set to register 3.7% CAGR over the decade.

Which End-use Industry Accounts for Highest Bio-based Coolant Demand?

Under end-use industry, the bio coolants market is segmented into metalworking industry, HVAC industry, automotive, plastic extrusion process, energy production and storage, aerospace industry, and others.

Amongst these, the metalworking industry holds a major market share of 23.4% and is expected to expand at 4.1% CAGR.

Growth of this segment is attributed to factors such high usage of bio-based coolants in the metalworking industry in light to heavy-duty operations for metal cutting operations, along with their use in reducing and removing the heat cutting zone.

Competitive Landscape

Prominent bio-based coolant manufacturers are Dynalene Inc., Orison Marketing, Houghton, Salathe Oil Company, Star Brite, Inc., Hangsterfer's Laboratories, Inc., Kilfrost Limited, Petron Scientech, Inc., Mitsui & Co. Ltd., Neste, Bardahl, Master Fluid Solutions, Tower Metalworking Fluid, BDI Cooling Solutions, Saint-Gobain, Total Coolants Management Solutions, Dynaflux Inc., and AMSOIL, Inc.

Key suppliers of bio-based coolants are investing their resources in sustainable environmental practices to contribute towards less waste, high efficiency, and low cost. They are focusing on providing end-to-end solutions in tandem with exceeding customer expectations.

  • Dynalene Inc. recently received an investment of US$ 25,000 to conduct product testing and validation for large customer specifications to manufacture de-ionizing filter cartridges for use in the coolant loops of charging stations of electric vehicles, fuel cells, computers, and heat-producing electronics
  • In 2021, Saint-Gobain announced the acquisition of Chryso. This acquisition is likely to strengthen the presence of the company in the construction chemicals market over the coming years.

Fact.MR has provided detailed information about the price points of key manufacturers of bio-based coolants positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Bio-based Coolants Industry Research

  • Bio-based Coolants Market by Type :

    • Glycerin
    • Ethylene Glycol
    • Propylene Glycol
    • Others
  • Bio-based Coolants Market by End-Use Industry :

    • Metalworking Industry
    • HVAC Industry
    • Automotive
    • Plastic Extrusion Process
    • Energy Production and Storage
    • Aerospace Industry
    • Others
  • Bio-based Coolants Market by Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

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The global bio-based coolants market is valued at US$ 1,159.9 million in 2022.

Worldwide demand for bio-based coolants is anticipated to reach US$ 1.6 billion by 2032-end.

During 2017-2021, sales of synthetic bio-based coolants increased at 2% CAGR.

North America tops the global bio-based coolants market accounting for 27.8% market share.

Propylene glycol bio-based coolants account for 51.2% share of global sales.

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