Biodegradable Engine Oil Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Energy & Mining Report Format : PDF Report Code: ZMR-6391 Status : Upcoming

Description

Global Biodegradable Engine Oil Market: Overview

Biodegradable oil is the combination of selected biodegradable bases that includes synthetic esters, sunflower, rape, and vegetable oils. These are generally non-toxic and are special additives exhibiting desired properties. As compared to the traditional lubricants, the use of biodegradable engine oil is better for use owing to its high stability and high flash point.

Global Biodegradable Engine Oil Market: Growth Factors

The global biodegradable engine oil market is growing at a rapid rate. Major factors such as the high cost of petroleum-based products, increase in concerns of environmental pollution, and growing demand for biodegradable products due to growing concerns of carbon footprints are propelling the growth of the global market. Further, it is been reported that in North America nearly 2.5 billion gallons of lubricants are sold every year and around 60 percent of this is not accountable which ultimately ends up on the ground itself or in lakes, rivers, and groundwater. This leads to untold harm to the wildlife, fish, and environment. Thus, the government as well as agriculture, forestry, and marine industry are taking major steps and spreading awareness regarding the use of biodegradable engine oil to maintain the environment and lower the dependency on mineral oils. All such factors coupled with the key advantages of biodegradable engine oils such as reduction in oil losses through evaporation, longer equipment life, high viscosity index, good lubricating properties, lower toxicity, and high level of biodegradability are spurring the demand for biodegradable engine oil. This is boosting the growth of the global biodegradable engine oil market. Moreover, the growing application of biodegradable engine oil in the construction and transportation sectors is also augmenting the growth of the global market. Furthermore, rapidly growing industries and an increase in funding for the production of biodegradable engine oil will lead to lucrative opportunities for the growth of the global biodegradable engine oil market over the forecast period. However, owing to the insufficient oxidative stability, biodegradable oil needs to be modified or treated to ensure performance which increases the overall cost and this may hinder the growth of the global biodegradable engine oil market.

The majority of the sectors across the world are affected by the onset of the COVID-19 pandemic. The major consumer of biodegradable engine oil is the transportation sector which is severely hampered during the pandemic period. Similarly, the demand for oil and lubricants was decreased in other end-use industries owing to a temporary halt on production and transportation. This affected the growth of the global biodegradable engine oil market during the pandemic condition. However, with the relaxation in lockdown, the demand for biodegradable engine oil is estimated to surge for automobiles.

Global Biodegradable Engine Oil Market: Segmentation

The global biodegradable engine oil market is bifurcated based on type, application, and region. Based on type, the global biodegradable engine oil market is categorized as polyalkylene glycols, glass vegetable oils, synthetic esters, and others. Applications of biodegradable engine oil are segregated as transportation, agriculture, construction, and others. Among these applications, the transportation segment is expected to remain dominant over the forecast period.

Global Biodegradable Engine Oil Market: Regional Analysis

Europe is expected to remain the largest market for the biodegradable engine oil market during the forecast period. The demand for biodegradable engine oil is continuously increasing in Europe owing to the rapid growth of industries and growing emphasis on environmentally friendly products. Asia Pacific is also expected to contribute healthy revenue in the global biodegradable engine oil market during the forecast period. Some of the key factors such as a rapid expansion of industries in emerging countries such as India & China, growing construction industry, and increasing demand for lubricants in the agriculture sector are combinedly contributing to the healthy share of the market in this region. The demand for biodegradable engine oil is also significantly increasing in North America owing to fast development in the infrastructure and transport sector.

Global Biodegradable Engine Oil Market: Competitive Players

Some of the key players operating in the global biodegradable engine oil market include Croda International Plc., BP, Condat, NANDAN PETROCHEM LTD., Exxon Mobil, FUCHS Group, Royal Dutch Shell, Renewable Lubricants, Repsol, and Total Lubricants.

Global Biodegradable Engine Oil Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

Table Of Content


Frequently Asked Questions

Major factors such as the high cost of petroleum-based products, increase in concerns of environmental pollution, and growing demand for biodegradable products due to growing concerns of carbon footprints are propelling the growth of the global market. Furthermore, rapidly growing industries and an increase in funding for the production of biodegradable engine oil will lead to lucrative opportunities for the growth of the global biodegradable engine oil market over the forecast period.

Some of the key players operating in the global biodegradable engine oil market include Croda International Plc., BP, Condat, NANDAN PETROCHEM LTD., Exxon Mobil, FUCHS Group, Royal Dutch Shell, Renewable Lubricants, Repsol, and Total Lubricants.

Europe is expected to remain the largest market for the biodegradable engine oil market during the forecast period. The demand for biodegradable engine oil is continuously increasing in Europe owing to the rapid growth of industries and growing emphasis on environmentally friendly products.

 

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