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Description
Solvent Recycling Market size was valued at USD 589.62 million 2021 and expected to reach to reach USD 874.93 million by 2028, at a CAGR of 5.8% during the forecast period 2022-2028. Increasing focus on the impact of solvent recycling on the environment, strong focus on the creation of an environmentally sustainable industrial framework and introduction of cost advantages in the processes are some key factors fostering the market growth. However, factors such as huge investments on R & D and high installation and maintained cost are hindering the market growth. Although the worldwide solvent recycling business has been around for a while, it has only just begun to acquire traction. The technology for enhancing the efficiency and viability of the entire process is still evolving and will do so for the foreseeable future. The Solvent Recycling Equipment uses a distillation process to extract accumulated sand particles and hydrocarbons from solvent, allowing it to be recycled back into usable solvent. Most solvents used in processes including electroplating, metal finishing, paint and powder coating, parts washing, and vapour degreasing may be recycled, lowering the cost of new solvents and decreasing disposal difficulties.
Key Developments:
In 2019, Tradebe Expands Recycle/Reuse Capacity In US. This expansion helps to better serve clients and improve internal operations. With this important enhancement to expertise, industry leaders in automotive, chemical production, petroleum recovery, and other sectors will have more opportunities to improve sustainability and cost management.
In Feb 2019, Tradebe Acquired Aaron Oil Company. Tradebe’s service portfolio grows geographically with this acquisition, including Industrial and Field Services, Used Oil collection and recycling, Petroleum (tank bottom) recycling, and Maritime services. Along with these new features, Tradebe inherits the Aaron Oil team’s extensive experience and technical skills.
