by Corinne Gangloff
March 24, 2022
Cleveland OH, March 24, 2022 – Biolubricants, which are lubricants derived from renewable or biomass feedstocks rather than petroleum, are expected to play an increasingly important role in the forestry equipment industry as equipment manufacturers and operators strive to improve their environmental profile, according to a Freedonia Group analysis.
Demand for biolubricants is significant only in a number of developed countries – partially due to cost factors, but also to the lack of performance benefits offered by biolubricants. Since their benefit is purely environmental, they are most popular in total loss applications, such as chainsaw oils. Thus, demand for biolubricants is most relevant in developed countries that have a significant presence of outdoor power equipment, such as the United States, Germany, Japan, Canada, and the Nordic countries, some of which have enacted measures that will support biolubricant use in forestry and other equipment. For example:
Global demand for forestry equipment is forecast to expand 3.8% per year to $9.3 billion between 2020 and 2025. Following a weak market performance due to the effects of the COVID-19 pandemic, global forestry activity will expand and the outlook for the related equipment market will improve as:
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Global Forestry Equipment from The Freedonia Group provides historical data for 2010, 2015 and 2020, and forecasts to 2025 and 2030 for global forestry equipment demand in current (including inflation) US dollars and/or units by product and major global region and country. Forested land is calculated in hectares and roundwood production in cubic meters.
The following types of products are covered:
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