Portland, OR, Jan. 13, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global biodegradable engine oil market generated $931.2 million in 2019, and is estimated to generate $1.18 billion by 2027, witnessing a CAGR of 4.3% from 2020 to 2027. The report offers extensive analysis of changing market dynamics, top investment pockets, key segments, value chain, and competitive scenario.Rise of the automotive industry and surge in industrialization in emerging countries drive the growth of the global biodegradable engine oil market. However, high initial cost hinders the market growth. On the other hand, increase in consumption of vegetable oil present new opportunities in the coming years.Covid-19 Scenario:Manufacturing activities have faced hindrances due to implementation of the lockdown measures. In addition, issues such as unavailability of raw materials and disruptions in supply chain have occurred.The demand from sectors such as automotive and construction have been reduced significantly as operations in these sectors came to standstill during the lockdown period.The demand would grow steadily as lockdown restrictions have been lifted off in many regions. Daily operations in the automotive and construction sectors have been resumed.The report offers detailed segmentation of the global biodegradable engine oil market based on type, application, and region.Based on type, the vegetables oils segment accounted for the highest market share, contributing to more than half of the total market share in 2019, and is estimated to maintain its dominant position throughout the forecast period. Moreover, this segment is estimated to manifest the highest CAGR of 4.6% from 2020 to 2027. The report also analyzes the segments including polyalkylene glycols, synthetic esters, and others.Get detailed COVID-19 impact analysis on the Biodegradable Engine Oil Market Request HereBased on application, the transportation segment contributed to the highest market share in 2019, accounting for nearly three-fifths of the global biodegradable engine oil market, and is projected to maintain its lead position during the forecast period. Moreover, this segment is projected to witness the largest CAGR of 4.5% from 2020 to 2027. The research also discusses the segments including agriculture, construction, and others.Based on region, Europe held the highest market share in 2019, contributing to nearly two-fifths of total share of the market, and will maintain its leadership status by 2027. However, Asia-Pacific is expected to manifest the highest CAGR of 4.9% during the forecast period.Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/7954Leading Players :Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starterGet more information: https://www.alliedmarketresearch.com/library-accessSimilar Reports:Crude Oil Market – Global Opportunity Analysis and Industry Forecast, 2020-2027About Allied Market Research:Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.Contact us:David Correa5933 NE Win Sivers Drive#205, Portland, OR 97220United StatesToll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141International: +1-503-894-6022UK: +44-845-528-1300Hong Kong: +852-301-84916India (Pune): +91-20-66346060Fax: +1-855-550-5975[email protected]Web: https://www.alliedmarketresearch.comFollow Us on | Facebook | Twitter | LinkedIn
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