Waste Oil Market Poised for Growth, Expected to Hit USD 47.01 Billion by 2032 -Coherent Market Insights

Burlingame, CA, July 03, 2025 (GLOBE NEWSWIRE) -- The Global Waste Oil Market is estimated to be valued at USD 34.55 Bn in 2025 and is expected to reach USD 47.01 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 4.5% from 2025 to 2032. The waste oil market is witnessing steady growth, fueled by rising environmental awareness and the increasing emphasis on sustainable waste management solutions. Both governments and industries are actively working to reduce carbon footprints and mitigate the environmental impact of waste oil disposal. Additionally, stringent regulations and supportive initiatives encouraging waste oil recycling and reuse are further accelerating market expansion.

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Global Waste Oil Market Key Takeaways

According to Coherent Market Insights (CMI), the global waste oil market size is anticipated to grow at a moderate CAGR of 4.5%, reaching USD 34.55 Bn in 2025 and USD 47.01 Bn by 2032.

Based on type, used engine oil segment is projected to total about USD 12.64 Bn in 2025.

By application, recycling and re-refining category will likely hold a market share of 35.7% in 2025.

In terms of treatment method, landfilling segment is expected to account for more than two-fifths of the global waste oil market share in 2025.

North America is expected to remain at the epicenter of waste oil market growth, accounting for a prominent share of 38.7% in 2025.

Asia Pacific waste oil market is poised to register fastest growth during the assessment period. This can be attributed to rapid urbanization and industrialization.

Implementation of Stringent Environmental Regulations Fueling Market Growth

Coherent Market Insights’ latest waste oil market analysis provides insights into major factors driving market growth. One such prominent growth driver is the enforcement of stringent environmental regulations.

Governments across the world are implementing strict regulations to manage hazardous waste as well as promote eco-friendly disposal methods. These regulations mandate proper collection, treatment, and reuse of waste oil, thereby boosting market demand.

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High Processing and Recycling Costs Limiting Market Growth

The future waste oil market outlook appears optimistic, owing to rising environmental concerns and implementation of new environmental laws. However, high processing and recycling costs pose a barrier to widespread market expansion.

The expenses involved in the treatment and re-refining of waste oil to meet industry quality standards are substantial. These high costs deter potential investors and limit the adoption of advanced recycling technologies, especially in developing economies.

Rising Demand for Recycled and Refined Products Creating Growth Opportunities

Many industries are increasingly adopting re-refined base oils due to their cost-effectiveness and environmental benefits. This growing trend is expected to unlock significant growth opportunities for waste oil companies.

Regulatory support for sustainable practices and a shift toward circular economies are also driving the use of waste oils in clean fuel production and petrochemical processes. This growing emphasis on sustainability is fueling market expansion globally.

Impact of AI on the Waste Oil Market

Artificial Intelligence (AI) is gradually making its way into the waste oil market. It is transforming operations by enhancing efficiency, accuracy, and sustainability.

AI-powered systems enable real-time monitoring of waste oil collection, sorting, and recycling processes. By doing so, they help to optimize logistics and reduce operational costs.

Predictive analytics help anticipate equipment maintenance needs as well as improve forecasting for supply and demand trends. Similarly, AI facilitates stricter compliance with environmental regulations through advanced tracking and reporting.

Emerging Waste Oil Market Trends

Shift toward a circular economy is positively impacting the waste oil market growth. Companies are increasingly adopting circular practices by recycling waste oil into usable products.

Rapid industrialization across the globe is expected to boost growth in the waste oil market. As industries like automotive and industrial machinery expand, the consumption of lubricants and oils increases. This results in a higher volume of waste oil that requires proper collection, treatment, and disposal.

Ongoing advancements in recycling technologies are a key growth-shaping trend. Innovations in vacuum distillation, centrifugation, and hydro-treatment are making waste oil recycling more efficient and economically viable, encouraging more companies to enter the market.

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Analyst’s View

“The global waste oil industry is set to witness moderate growth, owing to implementation of stringent environmental regulations, growing demand for re-refined oil, and advancements in recycling technologies,” said senior analyst Sakshi Suryawanshi.

Current Events and Their Impact on the Waste Oil Market

Event	Description and Impact
Revised EU Waste Framework Directive (March 10, 2025)	Description: A provisional agreement was reached to revise the EU Waste Framework Directive, enhancing its focus on circular economy principles and resource efficiency. Impact: This revision increases obligations for EU member states to improve the separate collection and recycling of hazardous waste, including waste oils.
New EU Waste Shipments Regulation (May 20, 2024)	Description: New regulation introduces tighter controls and traceability measures for waste exports, particularly to non-OECD countries, to curb illegal or unethical shipments. Impact: This imposes stronger compliance and documentation requirements on waste oil exporters, affecting supply chain logistics and export flows.
China Facing Waste Oil Shortages	Description: A study commissioned by Transport & Environment highlights a potential depletion of China’s domestic used cooking oil (UCO) stocks due to increasing demand from European and U.S. biofuel markets, especially for sustainable aviation fuel (SAF). Impact: This development constrains the global availability of UCO and waste lubricant feedstocks, increasing competitive pressures on international markets.

Competitor Insights

Key companies in waste oil market report include:

Veolia Environnement S.A.
Clean Harbors, Inc.
Safety-Kleen Systems, Inc.
Noble Oil Services
Heritage-Crystal Clean, Inc.
Oil Re-Refining Company, LLC
Greenergy International Ltd
SUEZ Recycling and Recovery
Red River Environmental
Baker Hughes Company
Veolia
Gershman, Brickner & Bratton, Inc.
TerraCycle, Inc.
Bunorr Integrated Energy Limited
Aqua-Aerobic Systems, Inc.
Enva
Duke Energy Corporation

Key Developments

In June 2025, Veolia solidified its position in hazardous waste treatment with major investment in new capacity and acquisitions. The company plans to add 530,000 tonnes of new annual hazardous waste treatment capacity by 2030.

In May 2024, Clean Harbors’ subsidiary, Safety‑Kleen Systems, Inc., finalized the acquisition of Noble Oil Recycling (also referred to as Noble Oil Services) in an all-cash transaction.

Market Segmentation

Type Insights (Revenue, USD Bn, 2020 - 2032)

Used Engine Oil
Industrial Oil
Cooking Oil
Others

Application Insights (Revenue, USD Bn, 2020 - 2032)

Recycling and Re-refining
Fuel Production
Lubricants
Others

Treatment Method Insights (Revenue, USD Bn, 2020 - 2032)

Landfilling
Incineration
Recycling
Reuse
Others

End-use Industry Insights (Revenue, USD Bn, 2020 - 2032)

Transportation
Manufacturing
Mining
Construction
Others

Regional Insights (Revenue, USD Bn, 2020 - 2032)

North America
- U.S.
- Canada
Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East
- GCC Countries
- Israel
- Rest of Middle East
Africa
- South Africa
- North Africa
- Central Africa

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