Abstract: | The depletion of the world's crude oil reserve, increasing crude oil prices, and issues related to conservation have brought about renewed interest in the use of bio‐based materials. Emphasis on the development of renewable, biodegradable, and environmentally friendly industrial fluids, such as lubricants, has resulted in the widespread use of natural oils and fats for non‐edible purposes. In this study, we have reviewed the available literature and recently published data related to bio‐based raw materials and the chemical modifications of raw materials. Additionally, we have analyzed the impacts and benefits of the use of bio‐based raw materials as functional fluids or biolubricants. The term biolubricants applies to all lubricants, which are both rapidly biodegradable and non‐toxic to humans and other living organisms, especially in aquatic environments. Biodegradability provides an indication of the persistence of the substance in the environment and is the yardstick for assessing the eco‐friendliness of substances. Scientists are discovering economical and safe ways to improve the properties of biolubricants, such as increasing their poor oxidative stability and decreasing high pour points. “Green” biolubricants must be used for all applications where there is an environmental risk. |