Automotive Oil Recycling Market Professional Survey Ongoing Development Trend’s By 2027

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.

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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.

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.

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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.).

Prominent players operating in the Automotive Oil Recycling market include: