openPR Logo
Press release

Biodegradable Engine Oil Market Size is projected to reach $1,180.4 million by 2027, growing at a CAGR of 4.3% from 2020 to 2027

02-17-2021 06:22 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Report Ocean

According to a new report published by Report Ocean titled, “Biodegradable Engine Oil Market by Type, Application, and Region: Opportunity Analysis and Industry Forecast, 2020–2027,”
The global biodegradable engine oil market was valued at $931.2 million in 2019, and is projected to reach $1,180.4 million by 2027, growing at a CAGR of 4.3% from 2020 to 2027.

GET SAMPLE PAGES @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1366

The substance used for lubrication is biodegradable engine oil, which is extracted from vegetable oils such as sunflower, coconut, and soybean. In general, bio-lubricants are used to lubricate devices that lose oil directly into the atmosphere. For individuals that work with equipment, bio-lubricants create a healthier and less harmful environment. These lubricants cost less than other lubricants, thus helping to optimize prices.

The biodegradable engine oil market for bio-lubricants has a strong demand for biodegradable and less harmful lubricants that help to optimize costs and maintain a safe environment for consumers. Some of the drivers of the market are environmental regulations, increased production of vegetable oils, and emerging bio-lubricant applications. Bio-lubricants are used across different end-use industries, and their respective disadvantages are surpassed by the long-term benefits of each application. Factors, such as high prices and the decline in crude oil prices, hinder the growth of the market for bio-lubricants.

The market is segmented into type, application, and region. Depending on type, the market is categorized into vegetable oils, polyalkylene glycols, synthetic esters, and others. Various applications of biodegradable engine oil studied in the market include agriculture, transportation, construction, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The analysis covers in-depth information of the major industry participants. The key players operating and profiled in the market include BP, Condat, Croda International Plc., Exxon Mobil, FUCHS Group, NANDAN PETROCHEM LTD., Renewable Lubricants, Repsol, Royal Dutch Shell, and Total Lubricants.

Key findings of the study:

On the basis of region, the Europe biodegradable engine oil market gained a share of 39.5% in 2019.
Based on type, vegetable oils garnered a share of 54.6% in 2019.
On the basis of application, the transportation segment gained 59.6% share in 2019 in terms of revenue.
Impact of COVID-19 on the global biodegradable engine oil market:

The world is battling the contagious COVID-19 pandemic, which has spread across the globe.
Some of the major economies suffering from the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway.
The outbreak has forced many industries to shut down due to lack of raw material availability and disruptions in the supply chain. The global lockdown has suspended the activities of construction and many other industries, which declined the demand for biodegradable engine oil.
The demand-supply gap, disruptions in raw material procurement, price volatility, and many other factors are expected to hamper the growth of the chemical industry during the COVID-19 pandemic.
Biodegradable engine oil is primarily used in manufacturing, transportation, construction, consumer goods, and others. As a reaction to the national lockdown, these sectors were experiencing sudden decline in growth rates.
Less usage of machinery results in reduced demand for industrial lubricants from various end-use sectors. Subsequent downfall in the construction industry across various nations further hinders the market growth.

READ FULL REPORT @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1366

Get in Touch with Us:
Report Ocean
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, IIIinois 60611 – UNITED STATES
Tel: +1 888 212 3539 (US – TOLL FREE)
Website: https://www.reportocean.com/

We are the best market research reports provider in the industry. Report Ocean believe in providing the quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is “one-stop solution” for individuals, organizations, and industries that are looking for innovative market research reports.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Biodegradable Engine Oil Market Size is projected to reach $1,180.4 million by 2027, growing at a CAGR of 4.3% from 2020 to 2027 here

News-ID: 2243563 • Views:

More Releases from Report Ocean

Japan Internet Advertising Market CAGR of 24.9%, Behind the Scenes Techniques for Deep Understanding of Consumer Behavior
Japan Internet Advertising Market CAGR of 24.9%, Behind the Scenes Techniques fo …
The Japan Internet Advertising Market has demonstrated remarkable growth, reaching a valuation of USD 29.49 Billion in 2021. With the digital landscape continually evolving, it is forecasted to soar to an impressive USD 112.04 Billion by 2027. This surge represents an anticipated compound annual growth rate (CAGR) of 24.9% over the projected period, highlighting the dynamic and rapidly expanding nature of the digital advertising sector in Japan. Internet Advertising are set
Location Analytics Market Through the Looking Glass Techniques for a Profound Understanding of Consumer Behavior
Location Analytics Market Through the Looking Glass Techniques for a Profound Un …
This comprehensive market research report offers an in-depth analysis of the global location analytics market from 2019 to 2026. Valued at USD 10,813.6 million in 2019, the market is forecasted to surge to USD 29,878.5 million by 2026, demonstrating a robust Compound Annual Growth Rate (CAGR) of 15.6% throughout the projection period. This report delves into the key drivers, restraints, opportunities, and challenges that are shaping the market, providing stakeholders
Affiliate Marketing Platform Market Eyes Wide Open Maximizing the Value of Observational Research in Consumer Behavior
Affiliate Marketing Platform Market Eyes Wide Open Maximizing the Value of Obser …
The Global Affiliate Marketing Platform Market, valued at USD 19,217.4 million in 2021, is projected to witness significant growth over the next decade, reaching an estimated value of USD 36,902.1 million by 2030. This report provides an in-depth analysis of the market dynamics, growth drivers, challenges, and opportunities that will influence the affiliate marketing landscape over the forecast period of 2021-2030. With a Compound Annual Growth Rate (CAGR) of 7.7%,
Global Clear Brine Fluids Market Growth Forecast and Trends (2022-2030)
Global Clear Brine Fluids Market Growth Forecast and Trends (2022-2030)
The global clear brine fluids market was valued at US$ 0.95 billion in 2021. It is anticipated to experience growth, reaching a valuation of US$ 1.39 billion by 2030. This growth trajectory translates to a compound annual growth rate (CAGR) of 3.1% during the forecast period from 2022 to 2030. Clear brine fluids, crucial in the oil and gas industry for drilling and completion processes, are poised for increased demand,

All 5 Releases


More Releases for Biodegradable

Biodegradable Films Market Beyond Plastic: Biodegradable Films Market Drives Eco …
Biodegradable Films Market to reach over USD 1,766.36 Mn by the year 2031 - Exclusive Report by InsightAce Analytic "Biodegradable Films Market" in terms of revenue was estimated to be worth $1,091.28 Mn in 2023 and is poised to reach $1,766.36 Mn by 2031, growing at a CAGR of 6.41% from 2023 to 2031 according to a new report by InsightAce Analytic. Get Free Sample Report @ https://www.insightaceanalytic.com/request-sample/1618 Latest Drivers Restraint
Biodegradable Cup Market Set for More Growth : Biodegradable Food Service, AmerC …
Advance Market Analytics published a new research publication on "Biodegradable Cup Market Insights, to 2027" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Biodegradable Cup market was mainly driven by the increasing R&D spending across the world. Get Free Exclusive PDF Sample Copy of
Biodegradable Mg-Alloy Implant market: Technological Advancements in 2022 | Biod …
"The global Biodegradable Mg-Alloy Implant Market is carefully researched in the report while largely concentrating on top players and their business tactics, geographical expansion, market segments, competitive landscape, manufacturing, and pricing and cost structures. Each section of the research study is specially prepared to explore key aspects of the global Biodegradable Mg-Alloy Implant Market. For instance, the market dynamics section digs deep into the drivers, restraints, trends, and opportunities of
Global Biodegradable plastic Market
Biodegradable plastic is made using raw materials or petrochemicals and can be decomposed by living organisms such as bacteria. Biodegradable plastic takes less time to break down as it is made up of eco-friendly material and requires less energy for production. The global Biodegradable Plastic Market is facing challenges due to the COVID-19 pandemic as the manufacturing facilities and supply chain of many organizations is at a halt. The increasing
Global Biodegradable Films Market Report
The global biodegradable films market is projected to grow at a CAGR of 6.1 percent in the forecast years, according to a recent research report gathered by the Global Market Estimates. Browse 167 Market Data Tables and 97 Figures spread through 188 Pages and in-depth TOC on "Biodegradable Films Market - Forecast to 2026" https://www.globalmarketestimates.com/market-report/global-biodegradable-films-market-2518 By Type (PLA, Biodegradable Polyester, PHA, Starch Blends, Others), By Application (Food Packaging, Agriculture & Horticulture,
Biodegradable Polymers Market 2019-2025 Worldwide Key Players : Aquapak Polymers …
Adroit Market Research published a study on the “Global Biodegradable Polymers Market Size 2017 By Production (Starch-based, Polylactic acid (PLA), Polyhydroxyalkanoates (PHA), Synthetic), By Application (Packaging, Loose fill, Bags and sacks, Fibre, Others), By Region and Forecast 2018 to 2025”. The global biodegradable Polymers market size is estimated based on the ongoing trend of bioplastic and consumption patterns of the bioPolymerss across the globe. The report also provides the various