폐유 시장 규모, 점유율, 성장 및 세계 산업 분석 : 유형별, 용도별, 지역별 인사이트 및 예측(2026-2034년)

Growth Factors of waste oil Market

The global waste oil market was valued at USD 14.30 billion in 2025 and is projected to grow to USD 15.22 billion in 2026, reaching USD 26.58 billion by 2034, representing a CAGR of 7.22% during the forecast period. Asia Pacific dominated the market in 2025 with a 38.54% share, supported by rapid urbanization, high volumes of used cooking oil (UCO), and government initiatives promoting sustainable fuel production.

Waste oil refers to petroleum-based or synthetic oils that lose their original properties or become contaminated, including used cooking oil, industrial waste oil, and animal fats. The market growth is driven by government regulations on safe disposal and recycling, the rising demand for biofuels, and circular economy initiatives, which aim to reduce environmental pollution and optimize resource reuse.

Major market players such as Safety-Kleen lead the industry by providing integrated services across automotive, manufacturing, and government sectors, with extensive collection networks and re-refining operations.

Market Dynamics

Drivers

Stringent environmental regulations and circular economy policies are primary growth drivers. Governments worldwide are enforcing laws to properly collect and process waste oils to prevent soil and water contamination. For example, in September 2023, India's Ministry of Environment introduced the Extended Producer Responsibility (EPR) for used oil, making producers and recyclers responsible for collection and treatment.

The increasing demand for renewable biofuels such as Hydrotreated Vegetable Oil (HVO), Renewable Diesel, and Sustainable Aviation Fuel (SAF) is also boosting waste oil collection. In July 2025, Neste and DHL Express collaborated to supply 7,400 tons of unblended SAF from UCO at Singapore Changi Airport, highlighting the growing role of waste oils in sustainable aviation.

Restraints

The market faces challenges due to high collection and logistics costs and a fragmented supply chain. Waste oil originates from scattered sources like restaurants, industrial sites, and repair shops, making aggregation expensive and operationally complex. Additionally, contamination of oils and pre-treatment requirements increase processing costs.

Opportunities

The development of integrated bio-refineries and diversification into high-value products such as bio-lubricants, specialty chemicals, bioplastics, and SAF presents significant market opportunities. For instance, in September 2020, Total invested USD 583 million to convert its Grandpuits refinery into a multi-product bio-refinery using waste oils and residues.

Challenges

Maintaining quality, consistency, and contamination management remains a critical challenge. UCO and industrial oils often contain water, food particles, or foreign substances, requiring extensive pre-treatment processes such as filtration, de-watering, and de-metallization before safe recycling.

Market Trends

Recent trends include digitalization and enhanced traceability for ESG compliance and supply chain optimization. Blockchain, IoT sensors, and GPS tracking are being used to monitor oil collection routes and volumes in real time, ensuring sustainable sourcing and operational efficiency. For example, in May 2022, Neste partnered with Circularise to implement traceability software for renewable and recycled materials.

Impact of Tariffs: U.S. tariffs on Chinese UCO imports raise feedstock costs, boosting domestic collection and re-refining, while altering global trade patterns and competitive pricing for SAF in Europe.

Segmentation Analysis

By Source

• Used Cooking Oil (UCO) dominates with a 42.94% share in 2026, primarily due to easier collection and strong demand as feedstock for HVO, biodiesel, and SAF.
• Industrial oil includes lubricants, hydraulic fluids, and metalworking fluids, re-refined for base oils.
• Animal fats are increasingly used for biofuels where UCO supply is limited.

By Application

• Biofuels hold a 51.21% share in 2026, driven by low-cost feedstocks for renewable diesel and SAF.
• Industrial lubricants and automotive oils are second in demand, benefiting from sustainability initiatives.
• Bio-based chemicals are growing rapidly as waste oils contain triglycerides useful for bioplastics, surfactants, and lubricants.

Regional Outlook

• Asia Pacific: Dominated the market in 2025 with USD 5.51 billion, projected to reach USD 5.90 billion in 2026. Japan and India are expected at USD 0.79 billion and USD 1.04 billion in 2026, respectively. China's market is projected at USD 3.25 billion in 2026, driven by industrial waste and UCO supply for SAF production.
• North America: Growth supported by the Renewable Fuel Standard (RFS) and state-level Low Carbon Fuel Standards. The U.S. market is projected at USD 2.79 billion in 2026.
• Europe: Strong circular economy policies and SAF mandates under RED II/III boost the market. The UK and Germany are expected at USD 0.98 billion and USD 1.43 billion in 2026, respectively.
• Rest of World: Growth driven by energy security agendas, environmental awareness, and pilot waste-to-energy projects.

Competitive Landscape

The market is fragmented yet capital-intensive, with key players including Neste, Darling Ingredients, Valero Energy, Safety-Kleen, Chevron Renewable Energy Group, TotalEnergies, Repsol, Eni, Veolia, and Argent Energy. Strategic initiatives include bio-refinery investments, long-term UCO supply agreements, and technological innovations in SAF and renewable diesel production.

Key Industry Developments

• October 2023: Repsol launched Spain's first advanced biofuels plant producing 250,000 tons/year.
• September 2023: TotalEnergies started France's SAF unit at Grandpuits, processing UCO and residues to 285,000 tons/year.
• May 2023: Eni converted Livorno refinery into biorefinery for 300,000 tons/year hydrogenated biofuels.
• September 2022: ADM partnered with Gevo to produce SAF and renewable diesel using waste oils.

Conclusion

The waste oil market is projected to grow from USD 14.30 billion in 2025 to USD 26.58 billion by 2034, driven by environmental regulations, circular economy initiatives, renewable biofuel demand, and integrated bio-refineries. Asia Pacific dominates, while North America and Europe benefit from strong policies and infrastructure. Despite challenges such as logistics costs, contamination, and fragmented supply chains, investments in traceability, digitalization, and high-value product diversification position the market for sustainable growth and global adoption of renewable fuels.

Segmentation By Source

• Industrial Oil
• Used Cooking Oil
• Animal Fat
• Others

By Application

• Biofuels
• Industrial Lubricants
• Automotive
• Bio-based Chemicals
• Others

By Region

• North America (By Source, By Application, and By Country)
  • U.S. (By Application)
  • Canada (By Application)
• Europe (By Source, By Application, and By Country)
  • Germany (By Application)
  • U.K. (By Application)
  • France (By Application)
  • Italy (By Application)
  • Spain (By Application)
  • Rest of Europe (By Application)
• Asia Pacific (By Source, By Application, and By Country)
  • China (By Application)
  • Japan (By Application)
  • India (By Application)
  • Southeast Asia (By Application)
  • Rest of Asia Pacific (By Application)
• Rest of World (By Source, By Application)

Table of Content

1. Introduction

• 1.1. Research Scope
• 1.2. Market Segmentation
• 1.3. Research Methodology
• 1.4. Definitions & Assumptions

2. Executive Summary

3. Market Dynamics

• 3.1. Market Drivers
• 3.2. Market Restraints
• 3.3. Market Opportunities

4. Key Insights

• 4.1. Key Emerging Trends- For Major Countries
• 4.2. Latest Technological Advancement
• 4.3. Insight on Regulatory Landscape
• 4.4. Porter's Five Forces Analysis
• 4.5. Impact of Tariffs on the Waste Oil Market
• 4.6. CXO Perspective
• 4.7. SWOT Analysis

5. Global Waste Oil Market (USD Billion) Analysis, Insights, and Forecast, 2021-2034

• 5.1. Key Findings
• 5.2. Market Analysis, Insights, and Forecast -By Source
  • 5.2.1. Industrial Oil
  • 5.2.2. Used Cooking Oil
  • 5.2.3. Animal Fat
  • 5.2.4. Others
• 5.3. Market Analysis, Insights, and Forecast -By Application
  • 5.3.1. Biofuels
  • 5.3.2. Industrial Lubricants
  • 5.3.3. Automotive
  • 5.3.4. Bio-based Chemicals
  • 5.3.5. Others
• 5.4. Market Analysis, Insights, and Forecast - By Region
  • 5.4.1. North America
  • 5.4.2. Europe
  • 5.4.3. Asia Pacific
  • 5.4.4. Rest of World

6. North America Waste Oil Market (USD Billion) Analysis, Insights, and Forecast, 2021-2034

• 6.1. Key Findings
• 6.2. Market Analysis, Insights, and Forecast -By Source
  • 6.2.1. Industrial Oil
  • 6.2.2. Used Cooking Oil
  • 6.2.3. Animal Fat
  • 6.2.4. Others
• 6.3. Market Analysis, Insights, and Forecast -By Application
  • 6.3.1. Biofuels
  • 6.3.2. Industrial Lubricants
  • 6.3.3. Automotive
  • 6.3.4. Bio-based Chemicals
  • 6.3.5. Others
• 6.4. Market Analysis, Insights, and Forecast - By Country
  • 6.4.1. U.S. Market Analysis, Insights, and Forecast - By Application
    • 6.4.1.1. Biofuels
    • 6.4.1.2. Industrial Lubricants
    • 6.4.1.3. Automotive
    • 6.4.1.4. Bio-based Chemicals
    • 6.4.1.5. Others
  • 6.4.2. Canada Market Analysis, Insights, and Forecast - By Application
    • 6.4.2.1. Biofuels
    • 6.4.2.2. Industrial Lubricants
    • 6.4.2.3. Automotive
    • 6.4.2.4. Bio-based Chemicals
    • 6.4.2.5. Others

7. Europe Waste Oil Market (USD Billion) Analysis, Insights, and Forecast, 2021-2034

• 7.1. Key Findings
• 7.2. Market Analysis, Insights, and Forecast -By Source
  • 7.2.1. Industrial Oil
  • 7.2.2. Used Cooking Oil
  • 7.2.3. Animal Fat
  • 7.2.4. Others
• 7.3. Market Analysis, Insights, and Forecast -By Application
  • 7.3.1. Biofuels
  • 7.3.2. Industrial Lubricants
  • 7.3.3. Automotive
  • 7.3.4. Bio-based Chemicals
  • 7.3.5. Others
• 7.4. Market Analysis, Insights, and Forecast - By Country
  • 7.4.1. Germany Market Analysis, Insights, and Forecast - By Application
    • 7.4.1.1. Biofuels
    • 7.4.1.2. Industrial Lubricants
    • 7.4.1.3. Automotive
    • 7.4.1.4. Bio-based Chemicals
    • 7.4.1.5. Others
  • 7.4.2. U.K. Market Analysis, Insights, and Forecast - By Application
    • 7.4.2.1. Biofuels
    • 7.4.2.2. Industrial Lubricants
    • 7.4.2.3. Automotive
    • 7.4.2.4. Bio-based Chemicals
    • 7.4.2.5. Others
  • 7.4.3. France Market Analysis, Insights, and Forecast - By Application
    • 7.4.3.1. Biofuels
    • 7.4.3.2. Industrial Lubricants
    • 7.4.3.3. Automotive
    • 7.4.3.4. Bio-based Chemicals
    • 7.4.3.5. Others
  • 7.4.4. Italy Market Analysis, Insights, and Forecast - By Application
    • 7.4.4.1. Biofuels
    • 7.4.4.2. Industrial Lubricants
    • 7.4.4.3. Automotive
    • 7.4.4.4. Bio-based Chemicals
    • 7.4.4.5. Others
  • 7.4.5. Spain Market Analysis, Insights, and Forecast - By Application
    • 7.4.5.1. Biofuels
    • 7.4.5.2. Industrial Lubricants
    • 7.4.5.3. Automotive
    • 7.4.5.4. Bio-based Chemicals
    • 7.4.5.5. Others
  • 7.4.6. Rest of Europe Market Analysis, Insights, and Forecast - By Application
    • 7.4.6.1. Biofuels
    • 7.4.6.2. Industrial Lubricants
    • 7.4.6.3. Automotive
    • 7.4.6.4. Bio-based Chemicals
    • 7.4.6.5. Others

8. Asia Pacific Waste Oil Market (USD Billion) Analysis, Insights, and Forecast, 2021-2034

• 8.1. Key Findings
• 8.2. Market Analysis, Insights, and Forecast -By Source
  • 8.2.1. Industrial Oil
  • 8.2.2. Used Cooking Oil
  • 8.2.3. Animal Fat
  • 8.2.4. Others
• 8.3. Market Analysis, Insights, and Forecast -By Application
  • 8.3.1. Biofuels
  • 8.3.2. Industrial Lubricants
  • 8.3.3. Automotive
  • 8.3.4. Bio-based Chemicals
  • 8.3.5. Others
• 8.4. Market Analysis, Insights, and Forecast - By Country
  • 8.4.1. China Market Analysis, Insights, and Forecast - By Application
    • 8.4.1.1. Biofuels
    • 8.4.1.2. Industrial Lubricants
    • 8.4.1.3. Automotive
    • 8.4.1.4. Bio-based Chemicals
    • 8.4.1.5. Others
  • 8.4.2. India Market Analysis, Insights, and Forecast - By Application
    • 8.4.2.1. Biofuels
    • 8.4.2.2. Industrial Lubricants
    • 8.4.2.3. Automotive
    • 8.4.2.4. Bio-based Chemicals
    • 8.4.2.5. Others
  • 8.4.3. Japan Market Analysis, Insights, and Forecast - By Application
    • 8.4.3.1. Biofuels
    • 8.4.3.2. Industrial Lubricants
    • 8.4.3.3. Automotive
    • 8.4.3.4. Bio-based Chemicals
    • 8.4.3.5. Others
  • 8.4.4. Southeast Asia Market Analysis, Insights, and Forecast - By Application
    • 8.4.4.1. Biofuels
    • 8.4.4.2. Industrial Lubricants
    • 8.4.4.3. Automotive
    • 8.4.4.4. Bio-based Chemicals
    • 8.4.4.5. Others
  • 8.4.5. Rest of Asia Pacific Market Analysis, Insights, and Forecast - By Application
    • 8.4.5.1. Biofuels
    • 8.4.5.2. Industrial Lubricants
    • 8.4.5.3. Automotive
    • 8.4.5.4. Bio-based Chemicals
    • 8.4.5.5. Others

9. Rest of World Waste Oil Market (USD Billion) Analysis, Insights, and Forecast, 2021-2034

• 9.1. Key Findings
• 9.2. Market Analysis, Insights, and Forecast -By Source
  • 9.2.1. Industrial Oil
  • 9.2.2. Used Cooking Oil
  • 9.2.3. Animal Fat
  • 9.2.4. Others
• 9.3. Market Analysis, Insights, and Forecast -By Application
  • 9.3.1. Biofuels
  • 9.3.2. Industrial Lubricants
  • 9.3.3. Automotive
  • 9.3.4. Bio-based Chemicals
  • 9.3.5. Others

10. Competitive Analysis

• 10.1. Company Market Share Analysis, 2025
• 10.2. Company Profile
  • 10.2.1. Neste
    • 10.2.1.1. Business Overview
    • 10.2.1.2. Products and Service Offerings
    • 10.2.1.3. Recent Developments
    • 10.2.1.4. Financials (Based on Availability)
  • 10.2.2. Darling Ingredients
    • 10.2.2.1. Business Overview
    • 10.2.2.2. Products and Service Offerings
    • 10.2.2.3. Recent Developments
    • 10.2.2.4. Financials (Based on Availability)
  • 10.2.3. Valero Energy Corporation
    • 10.2.3.1. Business Overview
    • 10.2.3.2. Products and Service Offerings
    • 10.2.3.3. Recent Developments
    • 10.2.3.4. Financials (Based on Availability)
  • 10.2.4. Safety-Kleen
    • 10.2.4.1. Business Overview
    • 10.2.4.2. Products and Service Offerings
    • 10.2.4.3. Recent Developments
    • 10.2.4.4. Financials (Based on Availability)
  • 10.2.5. Chevron Renewable Energy Group
    • 10.2.5.1. Business Overview
    • 10.2.5.2. Products and Service Offerings
    • 10.2.5.3. Recent Developments
    • 10.2.5.4. Financials (Based on Availability)
  • 10.2.6. Archer Daniels Midland (ADM)
    • 10.2.6.1. Business Overview
    • 10.2.6.2. Products and Service Offerings
    • 10.2.6.3. Recent Developments
    • 10.2.6.4. Financials (Based on Availability)
  • 10.2.7. TotalEnergies
    • 10.2.7.1. Business Overview
    • 10.2.7.2. Products and Service Offerings
    • 10.2.7.3. Recent Developments
    • 10.2.7.4. Financials (Based on Availability)
  • 10.2.8. Repsol
    • 10.2.8.1. Business Overview
    • 10.2.8.2. Products and Service Offerings
    • 10.2.8.3. Recent Developments
    • 10.2.8.4. Financials (Based on Availability)
  • 10.2.9. Eni
    • 10.2.9.1. Business Overview
    • 10.2.9.2. Products and Service Offerings
    • 10.2.9.3. Recent Developments
    • 10.2.9.4. Financials (Based on Availability)
  • 10.2.10. Veolia
    • 10.2.10.1. Business Overview
    • 10.2.10.2. Products and Service Offerings
    • 10.2.10.3. Recent Developments
    • 10.2.10.4. Financials (Based on Availability)
  • 10.2.11. Suez
    • 10.2.11.1. Business Overview
    • 10.2.11.2. Products and Service Offerings
    • 10.2.11.3. Recent Developments
    • 10.2.11.4. Financials (Based on Availability)
  • 10.2.12. Argent Energy
    • 10.2.12.1. Business Overview
    • 10.2.12.2. Products and Service Offerings
    • 10.2.12.3. Recent Developments
    • 10.2.12.4. Financials (Based on Availability)
  • 10.2.13. Olleco
    • 10.2.13.1. Business Overview
    • 10.2.13.2. Products and Service Offerings
    • 10.2.13.3. Recent Developments
    • 10.2.13.4. Financials (Based on Availability)