Waste Oil Market Plying for Significant Growth During 2026
Waste
oil refers to petroleum-based or synthetic oil obtained through
contamination, which has become unsuitable due to presence of
impurities or loss of original properties. Waste oil can be disposed
of by using different methods such as sending the waste oil off-site
(some facilities are permitted to handle the waste oil by burning
waste oil as a fuel in permitted hazardous waste incinerators). There
are various sources of waste oil such as primary metals,
transportation equipment, chemical products, airplanes, trucks, and
buses. Used oil can be cleared of contaminants and can be recycled
repeatedly. There are several uses for recycled oil. It can be used
as industrial burner oil or mold oil. Recycled oil can be utilized as
an additive in manufactured products. Re-refined base oil can be used
as a lubricant, hydraulic or transformer oil.
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Global
Waste Oil Market: Drivers and Restraints
Advent
of using waste oil as a fuel and saving primary non-renewable sources
is one of the major driving factors for the waste oil market.
Additionally, less price of waste oil compared to its substitutes
such as coal and heavy oil is also propelling the waste oil market.
Furthermore, less environmental impact after the consumption of waste
oil compared to its substitutes is also driving the waste oil market.
Factors
such as lack of information available related to waste quality is
acting as a deterrent in the growth of waste oil market. Also,
aversion to using re-refined base oil is hindering the waste oil
market. Furthermore, certain technological externalities, which
require significant public expenditures to support market re-refining
processes, are also hampering the waste oil market.
Based
on source, the waste oil market has been segmented into engine oils,
transmission oils, refrigeration & compressor oils, metalworking
fluids & oils, industrial hydraulic fluids, lubricants, and
others (copper and aluminum wire drawing solutions, electrical
insulating oils, industrial process oils, etc.) In terms of process,
the market has been divided into vacuum distillation process,
distillation hydrogen treatment, thin-film evaporation process, and
others. Based on application, the waste oil market has been
classified into special space heaters, re-refiners, asphalt plants,
industrial & utility boilers, steel mills, and others.
Geographically, the global waste oil market has been segregated into
North America, Europe, Middle East & Africa, Asia Pacific, and
Latin America. Among these, North America holds the leading market
share, followed by Europe, owing to presence of various re-refining
companies in the region.
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Global
Waste Oil Market: Key Players
Key
players operating in the global waste oil market are Alexandria
Petroleum Company, BME (Omnia Group), Enfields Chemicals CC, EWOR,
FFS Refiners (Pty) Limited, Gecco Fuels, Green Mamba Oil Refinery,
MIB Waste Services, Oil Separation Solutions Sales & Services
(Pty) Limited, and The Old Oil Man.
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