NEW YORK, Sept. 11, 2023 /PRNewswire/ — The re-refined base oils market size is expected to grow by USD 2.28 million from 2022 to 2027. In addition, the growth momentum of the market will be progressing at a CAGR of 6.26% during the forecast period, according to Technavio. The rise in demand for high-quality oils with lower environmental impact is notably driving the re-refined base oils market. However, factors such as the costly recycling process may impede market growth. The market is segmented by type (Group I, Group II, and Group III), application (Engine oil, Industrial oil, Transmission oil, Gear oil, and Others), and Geography (APAC, Europe, North America, Middle East and Africa, and South America). The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a Sample Report.
The rise in demand for high-quality oils with lower environmental impact is notably driving the market growth. A multitude of factors contribute to the escalating demand for re-refined base oils, notably encompassing heightened apprehensions regarding environmental pollution, an amplified awareness regarding ecologically sustainable business practices, and the pursuit of cost-effective solutions. Certain countries have introduced regulations mandating the utilization of environmentally friendly oils in specific sectors, including transportation. This regulatory impetus, coupled with financial incentives, is propelling the re-refined base oil market forward, as businesses recognize the economic advantages tied to transitioning to sustainable alternative oils. As a result, a surge in demand for recycled base oils is anticipated, thereby augmenting the growth of the re-refined base oils market during the forecast period.
Re-Refined Base Oils Market 2023-2027: Company Analysis
We provide a detailed analysis of 20 companies operating in the re-refined base oils market including ADVANCED LUBRICATION SPECIALTIES, AVISTA OIL Deutschland GmbH, Biosynthetic Technologies, Clean Harbors Inc., Cleanaway Waste Management Ltd., COSAN S.A., Emerald Transformer, GFL Environmental Inc., Heritage Crystal Clean Inc., Hydrodec Group plc, Itelyum Regeneration S.p.A., Lwart Solucoes Ambientais, Neste Corp., Nynas AB, PetroChoice, PURAGLOBE Germany GmbH, ReGen III, Rock Oil Refining Inc., Shell plc, and Vertex Energy Inc.
- ADVANCED LUBRICATION SPECIALITIES – The company offers re-refined oils for use in transmissions, final drives and hydraulic systems of all major brands of tractors and other farm equipment using a common fluid reservoir
This report provides a full list of key companies, their strategies, and the latest developments. Buy Now for detailed company information.
Re-Refined Base Oils Market 2023-2027: Segmentation
- Type
The Group I segment is estimated to grow significantly during the forecast period. Group I re-refined base oils find utility across diverse industry sectors including automotive, transportation, and manufacturing. A notable attribute of Group I re-refined base oils is their elevated viscosity index, signifying their capacity to withstand viscosity alterations caused by temperature fluctuations. This quality makes them particularly suited for applications marked by frequent temperature changes, exemplified by motor oil usage. Moreover, the transportation domain is recognizing the advantages of incorporating re-refined base oils in their vehicles, which not only leads to cost reduction but also contributes to emissions reduction. These dynamics are poised to support the adoption of the Group I segment within the global re-refined base oils market during the forecast period. - Geography
APAC is estimated to contribute 40% to the growth of the global market during the forecast period.
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View PDF Sample Report
Challenge
The costly recycling process is the key challenge that hinders the growth of the global re-refined base oils market.
Re-Refined Base Oils Market 2023-2027: Key Highlights
- Historic Market Size 2017-2021
- CAGR of the market during 2023-2027
- Detailed information on factors that will assist re-refined base oils market growth during the next five years
- Estimation of the re-refined base oils market size and its contribution to the parent market
- Forecasts on upcoming trends and changes in consumer behaviour
- The growth of the re-refined base oils market
- Analysis of the competitive landscape and detailed information on companies
- Comprehensive details of factors that will impede the growth of re-refined base oils market companies
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Re-Refined Base Oils Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.26% |
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Market growth 2023-2027 |
USD 2.28 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
5.81 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 40% |
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Key countries |
US, China, Germany, France, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ADVANCED LUBRICATION SPECIALTIES, AVISTA OIL Deutschland GmbH, Biosynthetic Technologies, Clean Harbors Inc., Cleanaway Waste Management Ltd., COSAN S.A., Emerald Transformer, GFL Environmental Inc., Heritage Crystal Clean Inc., Hydrodec Group plc, Itelyum Regeneration S.p.A., Lwart Solucoes Ambientais, Neste Corp., Nynas AB, PetroChoice, PURAGLOBE Germany GmbH, ReGen III, Rock Oil Refining Inc., Shell plc, and Vertex Energy Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Application
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
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Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
