Recycled Base Oil Market Size & Trends Analysis Report

The recycled base oil market, valued at 4,944.00 million in 2022, is anticipated to grow at a CAGR of 4.2% over the forecast period. Environmental sustainability stands as a primary driver for this growth, as recycling used lubricating oil significantly diminishes the environmental impact of hazardous waste disposal. This practice aids in conserving natural resources and curbing greenhouse gas emissions, aligning with global initiatives to address climate change. Strict regulations introduced by major countries concerning the disposal and management of used lubricating oil further propel the expansion of the recycled base oil market.