Biodegradable engine oil market projected to grow from $931.2 million in 2019 to $1,180.4 million by 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.

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.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗦𝗮𝗺𝗽𝗹𝗲 𝐏𝐃𝐅 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.alliedmarketresearch.com/request-sample/A07589

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.

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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.

Biodegradable Engine Oil Market Report Highlights

By Type

Vegetable oils
Polyalkylene glycols
Synthetic Esters
Others
By APPLICATION

Agriculture
Transportation
Construction
Others
By Region

North America (US, Canada, Mexico)
Europe (Germany, France, UK, Spain, rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, rest of Asia-Pacific)
LAMEA (Brazil, Saudi Arabia, South Africa, rest of LAMEA)

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 @https://www.alliedmarketresearch.com/checkout-final/9c9a4c557a70afe45b58b450916dd532

Key Market Players

Exxon Mobil Corporation
BP p.l.c
NANDAN PETROCHEM LTD
Royal Dutch Shell plc.
FUCHS Group
Croda International Plc.
Renewable Lubricants
Total SE
Condat
Repsol

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This release was published on openPR.