Frequently Asked Questions
The global used oil management service market was valued at USD XX Billion in 2022.
The used oil management service market is expected to grow at a CAGR of 6.80% between 2023 and 2030, reaching USD XX Billion in 2030.
Distillation Hydrogen Treatment is the leading segment by technology, holding around more than three-firth of the share in value in 2022.
Biodiesel governs the demand for used oil management service worldwide, holding a massive share of nearly 30% in 2022.
Thin-film Evaporation & other segments is expected to post the highest CAGR during the forecast period.
North America is fueling the growth of the used oil management service industry, with nearly two-third share in 2022.
The top players include Shell Inc., Business Waste, Enfields Chemicals CC, Enva, Gecco Fuels, Goins Waste Oil company, J.J. Richards and Sons Pty Ltd, EWOR, Falzon Group, MIB Waste Services, Oil Salvage Ltd., Omnia Group, Safety-Kleen Systems, Inc., and others.
Increasing environmental regulations, rising awareness of recycling and sustainability, or the demand for efficient collection and disposal methods for used oil are the major market drivers.
stringent regulations on the disposal and recycling of used oil may increase compliance costs for service providers & limited infrastructure for collection, transportation, and processing of used oil can pose logistical challenges are still restraints of the used oil management service industry.
increasing focus on sustainability and environmental regulations & technological advancements in oil re-refining and recycling techniques and partnerships with automotive manufacturers or government initiatives promoting sustainable practices can open doors for expanded market are opportunities for the used oil management service industry.