U.S. Lubricant Contaminated HDPE Container Waste Market Size, Share & Trends Analysis Report By Application (Industrial, Automotive, Aerospace), By Container Size (0-30 Liters, 30-50 Liters), By Plastic Use, By States, And Segment Forecasts, 2022 - 2030
U.S. Lubricant Contaminated HDPE Container Waste Market Growth & Trends
The U.S. Lubricant Contaminated HDPE Container Waste market is anticipated to reach 189.16 kilotons by 2030, expanding at a CAGR of 3.6% from 2022 to 2030, according to a new report by Grand View Research, Inc. Automotive industry contributes significantly to the consumption and growth of the U.S. lubricant contaminated HDPE container waste market. Various lubricants such as brake fluids, gear oil, engine oil, and others are used in traditional automobiles to maintain engine quality and high performance in long term. Furthermore, the rise in disposable income and increasing requirements of middle-class families across the country has resulted in an increase in demand for vehicles, which has boosted the demand for HDPE-based oil containers and hence has boosted the requirement for recycling lubricant contaminated HDPE containers.
The rise in the production of automobiles has led to excel the consumption of maintenance products such as engine oil, transmission fluid, grease, and penetrating lubricants. The growing automobile is expected to augment the lubricant contaminated HDPE container market, hence has boosted the requirement of recycling lubricant contaminated HDPE containers over the forecast period.
Rising sales of commercial vehicles used for public transport are expected to propel the demand for commercial automotive lubricants that will drive the U.S. lubricant contaminated HDPE container waste market. Economic growth in the U.S. coupled with rising consumer awareness regarding pollution caused by an increasing number of on-road vehicles has led to the improvement of public transportation. Furthermore, increasing construction and renovation activities in the U.S. and the consequent rise in the sales of heavy-duty construction machinery such as bulldozers, cranes, earthmoving equipment, and concrete mixers are expected to complement the demand for heavy-duty automotive lubricants.
However, in the U.S., approximately 41.1% of plastics including polyethylene terephthalate (PET) bottles, high-density polyethylene (HDPE) containers, and polyvinyl chloride (PVC) pipes are recycled annually. However, there is a high proportion of plastic waste that goes into landfills, in incinerators or ends up polluting the environment. Single-use plastics that are difficult to recycle since they are a composition of mixed materials/multi-polymers, and are contaminated or polluted from use, are regarded mostly as unmanaged waste.
U.S. is one of the major automotive markets across the US. and is expected to witness significant demand for recycling HDPE-based oil containers in lieu with increasing awareness among consumers regarding the benefits of vehicle maintenance is expected to drive their consumption over the forecast period.
U.S. Lubricant Contaminated HDPE Container Waste Market Report Highlights
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