The Waste Oil Global Market Report 2023, provides comprehensive information on the waste oil market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Waste Oil Global Market Report 2023, the global waste oil market size is expected to grow from $54.58 billion in 2022 to $58.24 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global waste oil market size is expected to reach $72.55 billion in 2027 at a CAGR of 5.6%.
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Product innovation is the key trend gaining popularity in the waste oil market. Major companies operating in the waste oil market are focused on developing innovative products and services to recycle and re-refine the waste oil to strengthen their position in the market. Recycling and re-refining can help to reduce the amount of waste oil that is discarded in landfills and can also help to conserve natural resources. For instance, in March 2022, Averda, a Dubai-based waste management and recycling company, launched used cooking oil (UCO) service in UAE. This service is aimed to enhance local trash management and lower carbon emissions from vehicle transportation, by collecting 10 million litres of customer-contributed used cooking oil (UCO) from the hotel, catering, and restaurant sectors.
The waste oil market is segmented:
1) By Type: Transmission Oils, Engine Oils, Refrigeration And Compressor Oils, Metalworking Fluids And Oils, Lubricants, Other Types
2) By Technology: Vacuum Distillation Process, Distillation Hydrogen Treatment, Thin-Film Evaporation
3) By Application: Waste Oil Boilers, Bio Diesel, Re-Refiners
Asia-Pacific was the largest region in the waste oil market in 2022.
The table of contents in TBRC’s waste oil market report includes:
- Executive Summary
- Waste Oil Market Characteristics
- Waste Oil Market Trends And Strategies
- Waste Oil Market – Macro Economic Scenario
- Waste Oil Market Size And Growth
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- Africa Waste Oil Market
- Waste Oil Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Waste Oil Market
- Waste Oil Market Future Outlook and Potential Analysis
- Appendix
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