Global Automotive Oil Recycling Market: Snapshot
Not all of
the used oil from motors can be recycled—but those that can make for huge
business propositions; large percentage of anthropogenic pollutants can make
lubricating oil simply non-recyclable. According to one estimate, a
contemporary processing system enables refining system to make 1 gallon of used
motor oil can churn out 2.5 quarts of lubricating base oil. Regulatory agencies
across the world are increasingly engaging in initiatives in educating about
the vast health hazards of the inadequate disposal of used automotive oil.
Mechanics, and auto repair business owners, and DIY oil change individuals are
seeing options expanding. A case in point is the campaign launched by the U.S.
EPA "You Dump It, You Drink It". Re-refining used oil and oil filters
are getting impetus from people doing it correctly and often in developed
nations. The constant focus of regulatory agencies to prolong the utility of
automotive fluids have brought advancements in pre-treatment methods, thus
propelling the growth of the automotive
oil recycling market, especially in developed nations. A case in point
is focus on improvising propane de-asphalting.
A range of
automotive manufacturers have become aware of the huge environmental
significance of automotive oil recycling. The various types of oil that can
recycled and repowered comprise metalworking fluids, transmission fluids, brake
fluids, emulsions, coolants from HVAC, refrigeration oils, electrical oils, and
heating media. The growing demand for re-refined used oil in petroleum refinery
is also boosting the automotive oil recycling market. A variety of novel
solvent extraction blends has made way into the market, expanding its
potential. The use of alumina adsorbents along with these blends has in some
cases is found to hold promise for refiners. One of the key objectives to
maximize the sludge removal and produce oil with high efficiency, underpinning
the growth dynamic of the market.
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Automotive Oil Recycling Market: Overview
·
Recycling is a process which considers a used product and
converts it into a new re-usable product by reprocessing it
·
Automotive oil recycling is a process which involves recycling
of used motor oil or hydraulic oil and converting it into new products such as
boiler fuel, space heater fuel, lubricants etc.
·
Dumping or disposing of used oils in an incorrect way is hazardous
to the environment. Hence, it is highly beneficial to recycle automotive oil
and convert it into a reusable product.
Key Drivers of Automotive Oil Recycling Market
·
Increase in government regulations on disposal of hazardous
substances is expected to drive the global automotive oil recycling market
during the forecast period
·
Producing a gallon of re-refined base from used oil requires
less energy than producing base stock from crude oil. Thus, recycling of
automotive oil saves valuable resources, which is likely to boost the
automotive oil recycling market during the forecast period.
More
Trending Reports
Engine
Oil Segment to Expand Rapidly
·
Engine oil is an essential component for smooth functioning of
cars, motorbikes, and trucks. However, engine oil used in vehicles is
contaminated with impurities such as dirt and water which eventually makes the
oil useless after certain duration. Every oil becomes useless after certain
duration. This is expected to drive the engine oil segment during the forecast
period.
·
Automotive vehicles sales is inclining constantly over the past
few years, majorly in regions such as Asia Pacific and Europe
·
The increase in sales of vehicles is expected to propel the
demand for engine oil during the forecast period. This, in turn, is expected to
drive the automotive oil recycling market during the forecast period.
Industrial Heating Fuel Segment to Dominate Global Automotive
Oil Recycling Market
·
Automotive recycled oil is majorly utilized as a fuel in
boilers, space heaters, and industrial heating applications. Among these
application segments, industrial heating fuel segment is expected to dominate
the global automotive oil recycling market during the forecast period.
·
When an oil can no longer perform its original lubrication job,
it is recycled and water and impurities are removed so that the oil can
be burned and used as a fuel to generate heat or electricity for industrial
operations
·
Industrial applications require oil in large quantities. Hence,
employing new oil is not economical. So, recycled oil is a highly suitable
substitute in industrial operations. Recycled automotive oil is utilized in
large quantities in industrial operations due to the lower cost and efficiency.
Approximately more than 75% of automotive recycled oil is used for driving
turbines, power plants, cement kilns, and manufacturing facilities (asphalt,
steel etc.).
Asia Pacific to Hold Prominent Share of Global Automotive Oil
Recycling Market
·
Geographically, the global automotive oil recycling market can be
split across five regions: North America, Europe, Asia Pacific, Latin America,
and Middle East & Africa
·
Asia Pacific is the leading consumer of automotive oil
recycling, followed by Europe and North America. Growth in the automotive
aftermarket and automotive industries is projected to augment the automotive
oil recycling market in Asia Pacific.
·
Increase in disposable income, change in lifestyle, and increase
in demand for transportation are major driving factors which are boosting
automotive industry in Asia Pacific, which in turn, driving the automotive oil
recycling market in Asia Pacific
·
Manufacturing industries require a large quantity of engine oils
for the working of large machineries. In emerging economies in Asia Pacific
such as India and China, industrial sector is expanding which is likely to
boost the demand for automotive oil recycling as large quantities of oil is
employed in large machineries. This, in turn, is expected to drive the
automotive oil recycling market in Asia Pacific during the forecast period.
·
Regions such as North America and Europe are also projected to
hold key market share of automotive oil recycling market during forecast
period. Prominent market share of North America and Europe can be attributed to
the stringent environmental policies for recycling of hazardous substances by
respective governments. These regions have well-developed countries with strict
rules and regulations for protecting the environment from pollution.
·
North America and Europe have well established cycle of
collection, recycling, and distribution of used motor oil.
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Key
Players in Market:
Prominent
players operating in the Automotive Oil Recycling market include:
·
World Oil Corp.
·
Safety-Kleen Systems, Inc.
·
Waste Management
·
DIRK Group
·
Nexlube
·
Lube Oil Re-refining Co., LLC
·
Pesco Beam Environmental Solutions Pvt. Ltd.
·
Oil Re-refining Co., Inc.
·
Alter Fuel Corp.
·
Auto Blue Oils
·
IFP Petro Products (P) Ltd.
·
Waste360
·
Veolia
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