The biodegradable engine oils, is also known as bio-lubricants and bio-lubes, are biodegradable and nontoxic lubricants. The biodegradable engine oils are usually made by using raw materials such as rapeseed oil, sunflower oil, palm oil, coconut oil, and animal fats. The biodegradable engine oils provide many advantages over conventionally used petroleum-based product such as non-toxicity, sustainability, carbon neutral, high flash point and high stability which makes it more preferable across various applications. Rise in demand for sustainable and high-performance lubricants is expected to drive the market growth.
MARKET SCOPE
The "Global Biodegradable Engine Oils Market Analysis to 2028" is a specialized and in-depth study of the environmentally friendly oil with a special focus on the global market trend analysis. The report aims to provide an overview of the biodegradable engine oils market with detailed market segmentation by type, application and geography. The report provides key statistics on the market status of the leading biodegradable engine oils market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of type the market is segmented into vegetable oils, polyalkylene glycols, synthetic esters, others
- On the basis application, the market is segmented as agriculture, transportation, construction, others
MARKET DYNAMICS
Drivers:
- Rise in demand for sustainable and high-performance lubricants
- Associated advantages of biodegradable engine oil
- High cost and poor performance of biodegradable engine oil restraints the market growth
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The biodegradable engine oil market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the biodegradable engine oil market in these regions.
IMPACT OF COVID-19 ON BIODEGRADABLE ENGINE OIL MARKET
The emergence of the COVID-19 has severely impacted the renewable industries, which resulted decline in the biodegradable engine oil market in the year 2020. 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. Thus, these sectors were experiencing sudden decline in growth rates. However, from 2021, the ease in restrictions and growing investment in various industries is fueling the market growth. In pandemic recovery period, the expansion of construction industry and growth prospects in transportation activities is further propelling the market growth in coming years.
MARKET PLAYERS
The report covers key developments in the biodegradable engine oil market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players in the biodegradable engine oil market are anticipated to provide lucrative growth opportunities in the future owing to wide scope application in various industries such as automotive, construction, marine, among other industries.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the industrial solar generator market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- CONDAT group
- Croda International Plc
- Exxon Mobil Corporation
- FUCHS
- Renewable Lubricants, Inc.
- Repsol
- TotalEnergies
- Royal Dutch Shell plc.
- CASTROL LIMITED
- Environmental Lubricants Manufacturing, Inc.