Global Re-Refined Base Oil Market Outlook Report 2023-2028: Intense Competition and Technological Advancements Shape Global Re-Refined Base Oil Market

Key Facts

The global re-refined base oil market is expected to reach a value of $5.05 billion by 2028 from $3.4 billion, growing at a CAGR of 6.82% from 2022-2028 North America dominated the global re-refined base oil market, holding over 34% of revenue in 2022, driven by high product penetration and strong market growth in the U.S. and Canada.
The U.S. is expected to witness growth in the re-refined base oil market, especially for construction and furniture applications, driven by a burgeoning hospitality and manufacturing sector and new commercial building construction.
Regarding revenue, the clay treatment led the global re-refined base oil market and is primarily used to produce Group I base oil.
Solvent extraction is expected to dominate the global re-refined base oil market during the forecast period, and it is expected to grow at a CAGR of over 7%.