Latin America Used Cooking Oil Market

Latin America Used Cooking Oil Market Analysis:

Latin America Used Cooking Oil Market is expected at USD xx.xx million in 2021 and is anticipated to extent an over of USD xx.xx million by the end of the assessment period. The Latin America Used Cooking Oil Market is estimated to experience reasonable growth to record a CAGR of xx.xx% throughout the estimate period (2022 - 2027)

Used cooking oil means fats and oils from commercial or industrial food processing operations, including restaurants that have been used for cooking or frying. The raw material characterized as UCO must only contain fats, oils or fats that have previously been used for cooking or frying operations. The OCU will qualify as a "treated OCU" if it is known that the treatment took place before it was received by the fuel production facility or if no evidence is provided to the verifier or CARB to confirm that it is “non-OCU.

Recent Developments

Kolmar Americas, Inc., an integrated oil, petrochemical and renewable fuels trading and trading company based in Bridgeport, Connecticut, has announced the acquisition of Connecticut's premier biodiesel production facility, and recently renamed American GreenFuels, LLC located in New Haven, Connecticut. Formerly known as Greenleaf Biofuels, LLC, the biodiesel plant, which is the largest operation of its kind in New England, operates from the New Haven terminal to the Port of New Haven and has steadily increased production in each of the last three years, and is expected to produce about 15 million gallons of biodiesel in 2016.

The Abu Dhabi Waste Management Center will start recycling used cooking oil from homes and restaurants to produce biofuels. Residents will receive safe containers to safely dispose of their used oil. A licensed recycling company will take these containers to the Tadweer energy recovery plant, which is currently under construction. The treatment unit is being established with the help of Emirates Water and Electricity Company, a subsidiary of Abu Dhabi Power Corporation.

National oil trading companies IndianOil, Bharat Petroleum and Hindustan Petroleum NSE 0.09% launched a program on Saturday to source used cooking oil-based biodiesel in 100 cities across the country. The program was officially launched by the Minister of Oil and Natural Gas, Dharmendra Pradhan, by virtue of which the three MOCs would invite private entities to express their interest in the installation of biodiesel production plants from.

Select Group, the global real estate developer, announced on Wednesday, with its joint venture partner Emirates Strategic Investments Company (ESIC), the acquisition of 17,919.24 m² of land on the western crescent of the Palm Jumeirah. The joint venture already owned an adjacent parcel of land of 47,474m², bringing its main oceanfront development area to over 65,410m². Located between the luxury developments of One & Only and W Hotel Palm Jumeirah, the land is one of the last remaining beachfront lots in Dubai that can offer the tranquility of beachfront living 7 minutes from the bustling metropolis from Dubai.

Market Drivers and Restraints:

The increase in the use of used cooking oils for biodiesel production is driving the growth of the used cooking oil market. Furthermore, the wide application of used cooking oil in the production of hydrogen gas, biolubricants, greases, chemical oils, animal feed and others is also increasing the demand for used cooking oil in these industries. Recent technological advances in waste recycling have encouraged people to recycle waste and turn it into useful and environmentally friendly products. The product has enormous potential to be refined into various biofuels to generate energy. Biodiesel produced from used cooking oil has a lower carbon footprint and burns cleaner. They also release less carbon monoxide and are cost effective compared to petroleum diesel. The growing demand for recycled used cooking oil for biodiesel production is primarily driving market growth. The recycling process generates by-products, useful in the manufacture of soap and glycerin, which increases their demand. Challenges encountered in UCO processing and refining are limiting market growth. The presence of a large amount of unwanted free fatty acids and water are considered impurities that must be removed before transesterification, the most important refining process. The large amount of free fatty acids reacts with alkaline catalysts that inhibit the reaction, resulting in poor quality biodiesel yield. The large amount of impurities also limits its use in animal feed for safety reasons. Biodiesel produced with UCO can reduce its level of combustion and reduce engine power to hamper its demand around the world.

Market Segmentation

The Latin America Used Cooking Oil Market can be segmented according to Source and Application. Depending on the Source it can be divided into Household, Food Services, and others. On the basis on Application for Latin America Used Cooking Oil Market it can be divided into Animal Feed, industry usage, and others.

Impact of COVID-19 on Latin America Used Cooking Oil Market

The recent coronavirus outbreak has disrupted the global supply chain associated with used cooking oil. Nationwide lockdowns in almost all countries have led to the closure of the restaurant industry, drastically reducing the supply of UCO to UCO processors. UCO recycling has seen a sudden decline due to limited product supply and labor shortages. The impact on the catering industry reflects the impact on this market. The Latin America used cooking oil market is expected to have significant growth rate in the coming years amind COVID crisis.

Regional Analysis

The market for Latin America Used Cooking Oil has been categorized on the basis of geography to offer a clear understanding of the market. The Latin America Used Cooking Oil Market has been divided into Mexico, Brazil, Peru, Chile, and the rest of the Latin America. Latin America project the highest growth in the global cooking oil market due to population growth and increased awareness of used cooking oil. Advertising viable used cooking oil solutions can further drive growth for used cooking oil manufacturers and provide potential growth for the used cooking oil market.

Leading Company

Argent Energy had the largest share of the Latin America Used Cooking Oil Market in terms of sales revenue in 2021.

Key Players

The Latin America Used Cooking Oil Market is concentrated with well-established players. Key players in the Latin America Used Cooking Oil Market include Greenergy International Ltd, Argent Energy, Olleco, Darling Ingredients Inc., Harvest Energy, Devonamic, Devon Waste Oils, Brocklesby Ltd., Baker Commodities Inc, Biomotive Fuel Ltd., etc