Biodegradable Engine Oil: Introduction
- Biodegradation is a process that transforms or breaks down materials that enter the environment. The biodegradation process is carried out by microorganisms (or their enzymes) such as bacteria, yeast, protozoans, and fungi present in the environment. During the process, carbon dioxide and water are released into the environment. Manufacture of biodegradable engine oil is carried out by using biodegradable sources such as vegetable oil. Manufacturers of biodegradable engine oil are focusing on bioaccumulation and eco-toxicity to reduce adverse impacts of engine oil on the environment.
Key Drivers and Restraints of Biodegradable Engine Oil Market
- Biodegradable engine oil can be recycled after long use. Biodegradable engine oil is also durable. It can withstand extreme ranges of engine temperature and pressure. New and advanced technologies are emerging in order to reduce costs and improve the quality of biodegradable engine oil. These factors are anticipated to drive the biodegradable engine oil market during the forecast period.
- Biodegradable engine oil is prone to internal and external corrosion of engines in aggressive handling conditions. Furthermore, pipes are prone to several manufacturing defects such as leakage. A minor leak in pipes can cause excess oil to flow from the engine. These factors are hampering the market.
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Global Biodegradable Engine Oil Market: Segmentation
- The global biodegradable engine oil market can be segmented based on type and application
- Based on type, the market can be segmented into vegetable oils, polyalkylene glycols, synthetic esters, and saltwater. Vegetable oils consist of natural esters and triglycerides. The chemical nature of vegetable oils varies according to the plant species such as rapeseed, sunflower, canola, and soybean. Polyalkylene glycols are manufactured by the polymerization of hydrocarbon ethylene. Hydrocarbon ethylene is a natural plant hormone. It is also called propylene oxide. Synthetic esters is considered one of the oldest biodegradable engine oils. It is produced through the esterification of bio-based materials such as modified animal fat and vegetable oil. Saltwater is used in ship stern tube systems, which use non-metallic bearings in place of metal bearings.
- Biodegradable engine oils are employed in various applications such as agriculture, transportation, and construction. The transportation segment is likely to be lucrative during the forecast period. This can be ascribed to the increase in focus of implementation of biodegradable engine oil in automobiles by manufacturers.
Global Biodegradable Engine Oil Market: Regional Segmentation
- Based on region, the global biodegradable engine oil market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- India, China, Singapore, and Japan are emerging countries of the biodegradable engine oil market in Asia Pacific, due to rapid industrialization and urbanization in these countries
- Demand for biodegradable engine oil in North America is increasing significantly, due to plans to develop infrastructure and transportation in the region
- Demand for biodegradable engine oil is high in the U.K., Spain, Italy, Germany, and France in Europe due to rapid growth of the industrial sector in these countries. The European Union focuses on environment protection and offers subsidies to manufacturers of biodegradable engine oil. The Organization for Economic Co-operation & Development (OECD) has set certain regulatory norms in order to promote the usage of biodegradable engine oil.
- The biodegradable engine oil market in Africa and Latin America is estimated to expand in the next few years, as these regions have recovered from economic slowdown. Countries in the Middle East, especially GCC, which include Qatar, the UAE, Oman, Saudi Arabia, Kuwait, and Bahrain, have substantially increased the usage of biodegradable engine oil in the development of infrastructure and transportation.
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COVID-19 Impact on Biodegradable Engine Oil Market
- The coronavirus pandemic has put the world economy in distress. Demand for on-road and off-road vehicles has been negatively impacted. This has hampered the demand for biodegradable engine oil. However, demand for automobiles is gradually expected to improve with relaxations in lockdowns. This is estimated to drive the sales of biodegradable engine oil in the near future.
Key Players Operating in Market
- BP plc
- Castrol
- Royal Dutch Shell
- Total
- Acme-Hardesty
- Condat
- FUCHS
- Repsol
- Exxon Mobil Corporation
- SKF
Global Biodegradable Engine Oil Market: Research Scope
Global Biodegradable Engine Oil Market, by Type
- Vegetable Oils
- Polyalkylene Glycols
- Synthetic Esters
- Saltwater
Global Biodegradable Engine Oil Market, by Application
- Agriculture
- Transportation
- Construction
Global Biodegradable Engine Oil Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- Nigeria
- Rest of Middle East & Africa
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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