Find Verified Used Red Cooking Oil Buyers, Importers and Buy Leads

Used Oil: A Key Commodity in the Global Trade Market

The Environmental Protection Agency defines used oil as oils that are contaminated with chemical and physical impurities because it is refined from synthetic or crude oil. A simpler way to describe it is as any petroleum-based or synthetic oil that has already been in use. It can be recycled again for many purposes. One such purpose is that recycled used oil can protect soil and water against pollution. Some of the common examples of used oil are motor oil (from vehicles), used coolant oil (from mechanical systems), and hydraulic fluid (from machinery). There is always some confusion regarding the difference between used oil and waste oil. The major difference between them lies in which substance it is contaminated with. While used oil is contaminated through natural use, waste oil is contaminated from sources like spills, leaks, or a mixture of hazardous waste. Let's explore more about what factors classify oil as contaminated oil. 

Any oil can only be classified as used oil if it:

• Has been refined from crude or synthetic oil. Remember that animal or vegetable oils can't be defined as used oil.
  
  
• Has been used earlier (as lubricants, heat transfer fluids, hydraulic fluids, etc). Petroleum-derived products (kerosene or antifreeze), virgin fuel oils, or any other unused oil can not be regarded as used oil.
   
• As a result of being used, it must be contaminated with physical and chemical impurities (dirt, metal, sawdust, solvents, saltwater, and others). Used oil mainly catches these contaminants because of storing, handling, and processing. 

The Thin Line between Used Oil and Hazardous Waste:

Sometimes, used oils (which are considered a universal waste) are misunderstood as hazardous waste, and vice versa. So, what sets them apart? Let's discuss the criteria that are used to differentiate between them:

• Any used oil that contains greater than 1,000 parts per million (ppm) of total halogens is considered "hazardous waste". 
  
  
• The presence of chlorofluorocarbons or contaminated oil is also an indicator of hazardous waste. 
  
  
• Polycyclic Aromatic Hydrocarbons (PAHs) are another factor that makes used oil convert into hazardous waste. 

Global Trade Markets Fueling the Growth of Used Oil Exports 

The global trade market of used oil is expanding mainly because of its recycling and re-refining properties. The fluctuations in the prices of crude oil also make used oil a substitute for it in the global trade. Did you know that the US is the largest producer of used oil? It is to recycle the used oil domestically and to fulfill the demands of other importing countries as well.

There are several other factors that contribute to the rising demand for used oil in the global trading business. Those are as follows:

1. Recycling and Re-refining

The process of recycling and re-refining is done to remove water and contaminants using purification methods. Used oil goes through a series of procedures, such as dewatering, distillation, hydrogenation, and others. Used oil is re-refined to make new lubricating oils and fuel oils. These also have a very high demand in the trading industry. In the petrochemical industry, used oil is used as a raw material. 

2. Environmental regulation

As mentioned earlier, used oil is also considered a natural waste. Through the process of re-refining, we're basically making use of something which could actually go to waste. This helps in reducing the environmental impact. So, global traders of used oil are able to be responsible towards the environment while making a great deal of profit through international markets. 

3. Source of fuel

After removing the contaminants and water from used oil, it is burned in a specialized burner to generate heat. This can become an alternative to other fuels in multiple areas. This method is also a cost-effective method, which is what attracts the attention of used oil buyers from all over the world. They can easily maximize their profit margins by using multiple ways to recycle and re-refine it, or sell it as a source of fuel. 

Now that the factors driving the trade industry of used oil are clear. Let’s now understand the minds of used oil importers and look at what exactly they are looking for. This can accelerate the process of connecting with suitable buyers. 

• Appearance: dark or black in colour (which is a sign of contamination), smooth and translucent, should not feel sticky
• Odor: burnt and strong oily smell
• Water content: 200 to 600 ppm (depends on the used oil type)
• Total acid number: less than 1.0 (varies as per the used oil type and its application)
• Contamination: should be through natural use 

Used Oil Types & Other Related Categories in the Global Market

If you’re an exporter of used oil, you can add various other products to your exporting business. As used engine oil buyers, seeking to expand their importing products, might also be included in the list of used cooking oil buyers. Here are some of the related products that you can include:

• Used oil types: Used Engine oil, synthetic oil, and others
• Different types of used materials: used bags, used shoes, used phones, used clothings, etc. 
• Other machinery-related used materials: used batteries, used tyres, used vehicles, used construction equipment spares, and used construction equipment & machinery, along with others.

Key Market Insights on Used Oil Export and Import\

Some of the key information about the current market size of the used oil trading industry can have a significant impact on your exporting business. Here are a few of the important data points:

Global Market Size  

Source: Precedence Research

Top Importing Countries for Used Oil (2024):

Source: Volza

How to Find Verified Used Oil Buyers & Importers Globally?

In the trading business, connecting with the right kind of buyers is what actually seals the deal for gaining maximum profit. Here is what you can do to find reliable used oil buyers:

• Use B2B platforms, such as go4WorldBusiness, for connecting with used oil buyers from different countries. Here, you can sign up for free, list the type of used oil you’re selling, and then simply search for that product in the buyers section. 
  
  
• If you’re just starting in the exporting business, then you can begin by targeting your local buyers. Keep a goal of finding “used oil buyers near me,” and then with trust and valuable connections, you can take your exporting business across borders.
  
  
• Connect with the used oil trading community with the help of social media community groups. Start being active on Instagram/Facebook and post about the recent activities in your exporting business. Join multiple trade community groups on Facebook to expand your reach.
  
  
• Your LinkedIn account can also be an excellent way to help you contact verified used oil buyers. Optimize your account as per the global trade industry and search for your specific variety of used oil, such as “synthetic oil buyers” or “engine oil buyers”, etc. 

Frequently Asked Questions (FAQs):

1. What is the best way to store used motor oil?

You can store motor oil in a leak-proof container in a cool and dry place. Make sure that the containers are clean and are kept directly in the sunlight. 

2. What is the difference between waste oil and used oil?

While used oil is subsequently contaminated with physical and chemical impurities and can still be used, waste oil is contaminated from external sources and can no longer be used. 

3. How long can used oil be stored?

It can be stored for a few months without becoming regarded as hazardous waste. It can be stored for even longer periods of time, depending on the storage conditions. 

4. Is used oil hazardous?

Yes, used oils can be called hazardous because it contain toxic metals and are slow to degrade. But if it is stored in an appropriate place and is recycled quickly, then there is no reason to call it hazardous. 

5. What are the regulations for used oil exports?

The regulations for used oil exports might vary in different countries. The basic ones include having a Prior Informed Consent (the written approval from all the concerned authorities). Moreover, exporting will only be allowed if the importing country confirms that it can manage the waste and not affect the environment. 

6. Why is used oil recycling important?

It is important to recycle used oil to protect the environment and gain economic benefits.

7. Which are the top importing countries for used oil?

The top importing countries for used oil are Vietnam, Peru, and Colombia.

8. What are the different ways used oil can be recycled or reused?

The processes of re-refining, processing for fuel, and reconditioning are some of the ways through which used oil can be recycled and reused. 

9. What is the used oil HSN code?

27109900 is the used oil HSN code.

10. What is the used oil price per litre?

The prices for used oil depend on multiple factors like location, used oil type, and others. However, you can expect an average price of INR 25 to 70 per litre for used oil.

Latest News Related to Used Oil:

India is producing a lot of used oil that is not being recycled, which is why the Indian government has introduced Extended Producer Responsibility. Now, producers will have to recycle 5% of the total production of used oil. (Full story: Energy Economics Times)