Global Waste Oil Market Segments 2024, Forecast To 2033
5 Mar, 2024
The waste oil market has demonstrated strong growth, advancing from $58.24 billion in 2023 to $62.02 billion in 2024, with a CAGR of 6.5%. The growth in the historic period can be attributed to industrialization and manufacturing, automotive industry growth, environmental regulations, recycling initiatives, and rising energy demand. The market is projected to continue strong growth, reaching $77.03 billion in 2028, sustaining a 5.6% CAGR. Circular economy practices, growing environmental awareness, alternative energy sources, advancements in recycling technologies, and increased industrial output are major trends.
Global Waste Oil Market Key Driver
The waste oil market is growing with the booming automobile sector. The US Department of Energy reported a 76% increase in hybrid-electric vehicle sales from 2020 to 2021, contributing to the growth of the waste oil market.
Get A Free Sample Of The Global Waste Oil Market ReportGlobal Waste Oil Market Segments
The waste oil market covered in this report 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
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacific was the largest region in the waste oil market in 2023. The regions covered in the waste oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Waste Oil Industry Players
Alexandria Petroleum Co.; All Waste Matters Ltd.; Enfields Chemicals CC; Enva; J.J. Richards and Sons Pty Ltd.; Goins Waste Oil Company Inc.; MIB Waste Services; Solway Recycling Limited; Slicker Recycling Limited; Safety-Kleen Systems Inc.; EWOR GmbH; Falzon Group; Oil Salvage Ltd.; Valgrove Ltd.; The Omnia Group Inc.; Oil Monster; Business Waste; Gecco Fuels; Silver Recycling; Alliance To End Plastic Waste; Neste Oyj; Clean Harbors Inc.; Heritage-Crystal Clean Inc.; Vertex Energy Inc.; GFL Environmental Inc.; Terrapure Environmental Ltd.; Avista Oil AG; HCC Energy GmbH; RILTA Environmental Ltd.; Green Oil Plantations Ltd.; Waste Oil Management; Waste Oil Solutions LLC; Waste Oil Recyclers Inc.; Oil Recovery Corp
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AIOps Waste Oil Market Overview
Waste oil is defined as any used or contaminated oil that can no longer perform its intended use. Waste oils are used for a variety of industrial and manufacturing processes such as lubrication, hydraulics, buoyancy, and heat transfer.
Waste Oil Global Market Report 2023 provides data on the global waste oil market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The waste oil market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.