Microbial glycolipids are biobased products with immense potential for commercial applications. Advances in the production process have led to the lowering of production cost and the appearance of commercial products in niche markets. The ability to manipulate the molecular structure by fermentation process and chemical derivatization allows for fine-tuning of their physicochemical properties to better suit an intended application. In this review paper, the bioprocesses for producing structurally varied microbial glycolipids are discussed. Chemical derivatization methods used to modify these molecules were presented. Finally, the potential application areas for these microbial glycolipids in the tribology field are proposed.