At 4.5% CAGR, Waste Oil Recycling Market to Reach USD 69.56 Billion by 2030 – Growth Trends, Regional [USA, UK, Thailand, India] Analysis, Competitive Analysis and Technological Progress

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Geographically, the APAC region will take the lion’s share of the waste oil recycling market. Waste oil industry could see significant expansion predicted as recycling efficiencies improve around the world

DALLAS, Texas, September 15, 2022 (Globe Newswire) — GLOBAL Waste Oil Recycling Market It is expected to reach close to 69.56 billion by 2030 with an annual growth rate of 4.5% through the forecast period 2022-2030.

Used oil falls under the hazardous waste category, which requires special management strategies due to its pollutant content and high level of impurities. Most importantly, the by-products have significant economic value. Therefore, several recycling techniques have been introduced to manage this type of waste. A variety of waste oil recycling technologies are used globally. Environmental pollution has increased in view of the increase in the demand for products and services. Also, increasing population and number of vehicles have increased the amount of waste oil. This has increased the need for fast and efficient solutions to environmental problems. This has improved reliance on continuous monitoring, specialized management strategies for waste oil recycling, driving the global Waste Oil Recycling market.

The need for proper management of waste oils has led to the growth of the global waste oil recycling market. Moreover, various initiatives taken for sustainability such as trends, emerging eco-friendly technologies are driving the oil recycling market.

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Global Waste Oil Recycling Market Scope

matrix

description

education period

2019-2030

Market size in 2030

$69.56 billion

section cover

by type, by application, by area,

in a covered manner

fuel oil, lubricating oil, hydraulic oil, transformer oil, cooking oil, other

covered by the application

Automotive, Industrial, Food Service, Other

area covered

North America, Europe, Asia Pacific, Middle East and Africa, and South America

Profiled Key Players

Nexlube, DIRK Phoenix Pvt Ltd, Oil Re-Refining Company, Inc., Sequoia Global Inc., IFP Petro Products (P) Ltd, Safety-Kleen, Auto Blue Oils, TL, Pesco Beam Environmental Solutions Pvt Ltd, World Oil Corp, Between Alrfeq and others

Rising demand for crude oil, increasing demand for recycled oil products in industrialization, urbanization and rising energy demand are driving the global waste oil recycling market.

Recycled waste oil is insoluble, persistent, and mostly contains toxic ingredients that cause environmental pollution when mixed with the air. In addition, recycled waste oil slowly degrades, clings to everything, and serves as a major source of waterway contamination. This can cause considerable pollution to drinking water sources. Thus, recycling of waste oil becomes challenging to disrupt the global waste oil recycling market.

The global waste oil recycling market has been segmented into treatment with acid/mud, vacuum distillation and dehydration process, vacuum distillation and mud treatment process, solvent extraction technology, membrane technology, pyrolysis using microwave heating, and bentonite treatment depending on the type of waste. has been classified. Oil recycling methods. Of these, the acid treatment method is the most widespread process. This process is said to be more efficient, increases the amount of recycled oil, and optimizes the production consumption-waste ratio.

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Globally, the recycling and treatment of waste oil is highly advanced in European and American countries. Thus Europe, North America and South America account for the largest market share in the global waste oil recycling market. Major factors such as increased energy strategies, the presence of professional recycling companies, the presence of the world’s largest oil recycling plants, and special regulations for waste oil collection, disposal and recycling have fueled the dominance of European and American countries in the world. oil recycling.

However, the waste oil recycling market is facing a serious crisis situation. Major forces include high price volatility, increase in cost of production, increase in labor wages, cost of inputs have already affected the market under the above mentioned aspects. Besides, the Covid-19 pandemic caused sudden disruption in production, global logistics, increased transportation costs, shortage of containers and delayed processing have disrupted the market.

On the other hand, easing of lockdown restrictions led by Covid-19, mitigating the impact of the virus for post-economic recovery, resumption of processing operations in automotive and other industrial plants, oil waste recycling companies have opened up market segments. Gaining confidence. This is creating a positive market environment and the waste oil recycling trend is expected to be the growth opportunity for the global waste oil recycling market.

At the same time, easing of pandemic lockdown measures in major exporting countries, improved consumer confidence due to improving economic conditions, and vaccine programmers demonstrate bright prospects for the global waste oil recycling market.

Key Points of the Table of Contents:

1. Introduction
2. Research Methodology
3. Market Outlook
4. Waste Oil Recycling Market by Type, 2022-2029 (US$ billion)
5. Waste Oil Recycling Market by Application, 2022-2029 (US$ billion)
6. Waste Oil Recycling Market by Sector, 2022-2029 (US$ billion)
7. Competitive Landscape
8. Company Profile
9. Appendix

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