World Market for Re-Refined Base Oil 2022-2027 - Group II Re-Refined Base Oil is Dominating the Market Due to its Low Content of Sulfur and Aromatics

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

• Group I
• Group II
• Group III

Market Segmentation by Technology

• Clay Treatment
• Vacuum Distillation
• Solvent Extraction
• Hydrotreating Process
• Others

Market Segmentation by End-User

• Automotive Oil
• Industrial Oil
• Process Oil
• Metalworking Fluid
• Grease

GEOGRAPHICAL ANALYSIS

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

• North America
• Europe
• APAC
• Latin America
• Middle East & Africa

VENDOR ANALYSIS

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.

Key Vendors

• Avista Oil Deutschland
• Heritage-Crystal Clean
• Safety-Kleen System
• Southern Oil
• Veolia

Other Prominent Vendors

• AL Haya
• Benzoil
• Cator
• Lwart Environmental Solutions
• Masafee
• Nas Oil & Fuel
• One Ten Impex
• Puraglobe
• R.A.M. Oil
• RenGen III
• South West Petroleum (Asia Pacific) Ltd.
• STR Tecoil
• SENER Group
• Tayras
• Vertex Energy

For more information about this report visit https://www.researchandmarkets.com/r/vma403

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SOURCE Research and Markets