DUBLIN, May 20, 2022 /PRNewswire/ -- The "Global Re-Refined Base Oil Market Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The re-refined market size is expected to grow at a CAGR of 6.53% during 2022-2027.
The Global Re-Refined Base Oil Market Report includes:
Analysis of the global Re-Refined Base Oil market - market size and growth rate for the forecast period 2022-2027.
Comprehensive insights into current industry trends, trend forecast, and growth drivers about the global Re-Refined Base Oil market.
The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
It offers a complete overview of market segments and the regional outlook of the Re-Refined Base Oil market.
The report offers a detailed overview of the vendor landscape, competitive analysis, and critical market strategies to gain competitive advantage.
MARKET OPPORTUNITIES AND TRENDS
Growing Demand for High-Quality Base Oil
Conserving Energy & Preserving Natural Resources
MARKET GROWTH ENABLERS
Increasing Country-Wise Regulations
Increasing Re-Refining Capacity
RE-REFINED BASE OIL MARKET SEGMENTATION
Group I re-refined base oil is losing its dominance in the market due to its inability to deliver performance aligning with the current need of the industry, resulting in the shutdown of manufacturing plants across the globe
Presently, group II re-refined base oil is dominating the market due to its low content of sulfur and aromatics, effectiveness in meeting vehicle standards, increase in demand for lubricants with low volatility, and improved fuel economy.
From the technology perspective, the hydrotreating process is a dominating segment, with the hydrotreating process expecting to witness the highest growth.
From the application perspective, automotive oil is the dominating segment as it consumes a major chunk of re-refined base oil.
Market Segmentation by Group
Market Segmentation by Technology
Market Segmentation by End-User
APAC was the third largest and fastest growing market for re-refined base oil. The region was led by China, where the demand is from automotive & transportation sector, mining sector, and manufacturing & machinery sector. In addition, supportive government subsidies, incentives are also promoting the growth of re-refined base oil market.
Countries such as India, and Australia, are also expected to increase re-refining capacity to reduce dependence on imported base oil. In addition, increasing environmental awareness and government measures to promote sustainability and self-reliance are also some of the drivers for the regional re-refined base oil market.
Market Segmentation by Geography
Middle East & Africa
The competitive scenario in the global re-refined base oil market is currently intensifying. The rapidly changing technological environment and sustainability scenario can adversely affect vendors as customers expect continual innovations and upgrades. The market is consolidated, with few players providing products with high functionality.
Avista Oil Deutschland
Other Prominent Vendors
Lwart Environmental Solutions
Nas Oil & Fuel
One Ten Impex
South West Petroleum (Asia Pacific) Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/vma403
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SOURCE Research and Markets