Waste Lubricating Oil Recycling Plant Business Plan
INTRODUCTION
Waste oil is made up mostly of hydrocarbons and comes from both industrial and non-industrial sources. Due to physical contamination and chemical reactions that occur during its use, it may also contain additives and impurities. Used oil has been used before, and as a result, it is now contaminated with chemical and physical Contaminants. Old transmission oil, motor oil, brake fluid, hydraulic oil, and gearbox oil are all examples of used oil.
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Waste Lubricating Oil Recycling Process:
The general process of waste lubricating oil recycle begins with straining out any solid contaminants, such as dirt and mud. The remaining mixture is then distilled to remove water from it. From there, it’s heated in order to liquefy all of its components, including chlorinated compounds and other contaminates like sulfuric acid.
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These are separated from one another during distillation and compression processes. In addition, hydrogen sulfide can be recovered from them; more commonly known as rotten egg gas, it has applications as a colorless and highly toxic gas used for lead batteries. Recovered oils can either be sold on for use by those industries or reprocessed themselves into new oils which are shipped to their final end-users.
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Waste lubricating oil residue after complete recovery may be incinerated at high temperatures (1300 °C). This further decomposes organic compounds that would otherwise remain untreated. Waste gases released from burning residue will be subjected to soot cleaning and thermal treatment: they exit through stack without releasing dioxins or furans.
Benefits:From an environmental point of view, recycling waste lubricating oil is far better than throwing it away. In fact, if all lubricants in North America were recycled instead of thrown away as trash, more than 11 million barrels of oil could be recovered each year—enough to fuel more than 1.2 million cars and save consumers roughly $2 billion annually in lessening their carbon footprint.
Market Outlook:
India industrial lubricant market is projected to grow to USD 1.91 billion by 2027, on the back of strong growth in construction & mining sectors across the country. Industrial lubricants find application in variety of end user industries therefore, an extensive list of lubricants is available that include hydraulic oil, greases, gear oil, compressor oil, industrial engine oil, metal working fluids and bearing oil. Among these, the hydraulic lubricants and machine lubricants dominate the market due to high demand in industrial and mining applications.
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The waste lubricating oil recycling plant market is highly lucrative, and is expected to grow at a healthy CAGR. The rise in awareness about environmental pollution due to improper disposal of used oil has compelled end-users of lubricants and machinery manufacturers to adopt proper procedures for used oil management. In addition, it has also increased demand for recycled products that are friendly to environment. Market growth is highly dependent on factors such as rising disposable income, development of infrastructural facilities and diminishing crude oil prices.
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Waste lubricating oil recycling plant market is also driven by government regulations and incentives related to waste disposal and non-renewable energy generation. However, limited availability of space for installation may hamper industry’s growth over the forecast period. In addition, environmental concerns regarding wastage of lubricants in nature can restrict market share for recycled products.
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