Re-refined Lubricant Market Recent Trends, Growth Analysis Report, Insights, Outlook, Industry Analysis and Forecasts 2031

 

Re-refined Lubricant Market

Re-refined Lubricant: Introduction

  • Lubricants are imperative for smooth functioning and operation of mechanical devices and equipment. Several lubricants are used in industrial and automotive applications, namely engine oils, transmission oils, gear oils, transformer oils, and turbine oils. These lubricants, which are 85% base oils and 15% additives, keep friction between contacting surfaces low and improve their lifespan. These lubricants are often collected and processed at the end of their lifespan. Most of the used lubricants, post collection, are used as fuel; however, some of these are cleaned, processed, and fractionated.
  • The re-refining process initiates with the collection of waste lube oils. Solid contaminants and water are removed from the collected lube oils. The mixture is then made ready for further processing. This mixture is distilled to eliminate low hydrocarbons and solvents.
  • Waste lubricating oil consists of toxic wastes in large amounts. Disposal of toxic waste in a wrong manner can lead to detrimental effects on the environment. Re-refined lubricants carry lower environment impact. They do not emit any hazardous substance and thus help save natural resources.

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Key Drivers and Restraints of Re-refined Lubricants

The usage of re-refined lubricant has positive impact on the environment. Re-refining has the potential to make the lubricant industry circular and reduce the strain on the environment by lowering the dependence on crude oil and its extraction. More than 42 liters of crude oil is required for the production of 0.5 liters of lubricant/base oil; however, nearly 34 liters of lubricants/base oil can be made from 42 liters of used lube oil. 

The process also resolves the disposal issues of used lubricants. According to the API, the re-refining process requires 50% to 80% less energy than what is required for refining crude oil (to produce base oil). However, the process has certain drawbacks. It is expensive, as the used oil is usually a mixture of all grades and requires extensive refining. Disposal of wastes from re-refining is also a challenge. Furthermore, the variety of contaminants makes it difficult to establish set processes. These factors are anticipated to hamper the re-refined lubricant market.

COVID-19 Impact Analysis on Demand for Re-refined Lubricants

  • Governments of various countries have restricted the movement of goods & individuals and imposed a halt on operation of production facilities as part of measures to limit the spread of the COVID-19 pandemic. This has adversely affected the demand for two and four wheelers and automobiles across the globe. Demand for automotive oil is directly linked with the production volume of automobiles; therefore, decrease in the production volume of automobiles significantly impacts the demand for oil. In turn, this is expected to hamper the demand for re-refined lubricants.

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Re-refined Lubricant Market Segmentation

  • The global re-refined lubricant market can be segmented based on source and process
  • In terms of source, the global re-refined lubricant market can be divided into automotive lubricants, greases, hydraulic oils, industrial gear oils, process oils, marine oils, and other industrial oils
  • In terms of process, the global re-refined lubricant market can be classified into dehydration, vacuum distillation, and solvent extraction

Re-refined Lubricant Market: Regional Segmentation

  • In terms of region, the global re-refined lubricant market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
  • North America is estimated to dominate the global re-refined lubricant market in the near future. The region accounted for large share of production of crude oil and other petroleum products in 2020. 
  • Asia Pacific is expected to be a highly lucrative region of the global re-refined lubricant market during the forecast period. China, Australia, Japan, and India are key countries in terms of consumption of lubricants around the world.
  • Europe is one of the key regions of the global lubricants market. The region has strict government regulations for used oil disposal. Growth of sustainable practices in countries such as Germany, Russia, Poland, and Turkey to protect the environment is expected to drive the re-refined lubricant market in Europe in the next few years. 

Key Players Operating in Global Market

  • ECONO LUBE N’ TUNE, INC.
  • BALAJI CONSULTANTS
  • Safety-Kleen Systems
  • Terrapure Environmental
  • VERTEX Energy
  • Southern Oil
  • Heritage-Crystal Clean, Inc
  • AVISTA Green
  • Whelan Refining Limited
  • LPC

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Global Re-refined Lubricant Market: Research Scope

Global Re-refined Lubricant Market, by Source

  • Automotive Lubricants
  • Greases
  • Hydraulic Oils
  • Industrial Gear Oils
  • Process Oils
  • Marine Oils
  • Other Industrial Oils

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