Global Pyrolysis Oil Market 2023

Global Pyrolysis Oil Market 2023

Pyrolysis oil, also known as bio-oil or biocrude, is a type of fuel that is derived from the thermal decomposition of organic materials such as waste wood, waste plastics, agricultural residues, and waste rubbers in the absence of oxygen. This process, known as pyrolysis, involves heating the organic materials at elevated temperatures, which breaks them down into oil and other constituents. Pyrolysis oil has a high calorific value and can be used as an industrial fuel to substitute furnace oil or industrial diesel. It is considered a sustainable and feasible energy source, making it an attractive alternative to traditional fossil fuels.

The global pyrolysis oil market is anticipated to increase by USD 83.8 million till 2029 at an average annual growth of 3.52 percent as per the latest market estimates. The global pyrolysis oil market is driven by the rising demand for sustainable and feasible energy sources. As there is a growing emphasis on energy security, market players are focusing on alternative fuel resources to reduce dependency on a single energy source and utilize various renewable energy sources. The energy sector is shifting towards more sustainable and efficient practices due to environmental concerns and the rapid depletion of fossil fuel reserves. Pyrolysis oil offers a potential solution by replacing diesel in compression ignition engines, thereby reducing greenhouse gas emissions and decreasing reliance on conventional fossil fuels.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global pyrolysis oil market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Market Segmentation
Raw material: oil sludge, plastic waste, waste rubber, wood, others
Application: fuel, chemicals, others
Region: Asia-Pacific, Europe, North America, Middle East and Africa (MEA), South America

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the raw material, application, and region. The global market for pyrolysis oil can be segmented by raw material: oil sludge, plastic waste, waste rubber, wood, others. Globally, the wood segment made up the largest share of the pyrolysis oil market. Pyrolysis oil market is further segmented by application: fuel, chemicals, others. The fuel segment captured the largest share of the market in 2022. Based on region, the pyrolysis oil market is segmented into: Asia-Pacific, Europe, North America, Middle East and Africa (MEA), South America. According to the research, Europe had the largest share in the global pyrolysis oil market.

Major Companies and Competitive Landscape
The report also provides a detailed analysis of several leading pyrolysis oil market vendors that include Alterra Energy, LLC, BASF SE, Ensyn Corporation, Green Fuel Nordic Oy, Hengli Group, Mk Aromatics Limited, New Energy Ltd., Nexus Circular LLC, Plastic Advanced Recycling Corp., Plastic Energy Limited, Quantafuel AS, Setra Group, Twence BV, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Scope of the Report
To analyze and forecast the market size of the global pyrolysis oil market.
To classify and forecast the global pyrolysis oil market based on raw material, application, region.
To identify drivers and challenges for the global pyrolysis oil market.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global pyrolysis oil market.
To identify and analyze the profile of leading players operating in the global pyrolysis oil market.

Why Choose This Report
Gain a reliable outlook of the global pyrolysis oil market forecasts from 2023 to 2029 across scenarios.
Identify growth segments for investment.
Stay ahead of competitors through company profiles and market data.
The market estimate for ease of analysis across scenarios in Excel format.
Strategy consulting and research support for three months.
Print authentication provided for the single-user license.