What is the global market size of Pyrolysis Oil Market?

Pyrolysis Oil Market size was valued at USD 3.1 billion in 2021 and is poised to grow from USD 3.23 billion in 2022 to USD 4.53 billion by 2030, growing at a CAGR of 4.3% in the forecast period (2023-2030).

Who are the key vendors in the Global Pyrolysis Oil Market?

The competitive landscape of the global pyrolysis market is influenced by various factors, including technological advancements, government regulations, and environmental concerns. Companies in the market strive to develop and deploy efficient pyrolysis technologies that can effectively convert a wide range of waste materials into high-quality end products. These technologies aim to maximise resource recovery while minimising the environmental impact of waste disposal. 'Ensyn Corporation (Canada)', 'Anellotech Inc. (US)', 'BTG Bioliquids BV (Netherlands)', 'Neste Corporation (Finland)', 'Agilyx Corporation (US)', 'Renewable Energy Group, Inc. (US)', 'Plastic Energy Ltd. (United Kingdom)', 'Plastic Advanced Recycling Corporation (US)', 'Pyrowave Inc. (Canada)', 'BTG-BTL (Netherlands)', 'Repsol S.A. (Spain)', 'BASF SE (Germany)', 'Exxon Mobil Corporation (US)', 'Chevron Corporation (US)', 'Valero Energy Corporation (US)', 'Suez SA (France)', 'Cepsa (Spain)', 'TotalEnergies (France)', 'Royal Dutch Shell plc (Netherlands/United Kingdom)', 'BP plc (United Kingdom)'

What is the key driver of Global Pyrolysis Oil Market?

Governments across the globe are implementing policies aimed at promoting renewable energy sources. These policies include incentives such as feed-in tariffs, tax credits, and subsidies for bioenergy projects, including pyrolysis oil production. By providing financial and regulatory support, governments encourage the adoption of pyrolysis oil as a renewable energy source, thereby driving market growth.

What is the key market trend for Global Pyrolysis Oil Market?

Increasing Focus on Sustainable Waste Management: Pyrolysis, as a thermal decomposition process, offers a promising solution for the effective treatment of various waste materials, including plastics, tires, and biomass. The trend towards sustainability has driven the adoption of pyrolysis technology as it enables the conversion of waste into valuable resources such as fuel, chemicals, and raw materials. By diverting waste from landfills and incineration, pyrolysis contributes to reducing environmental pollution and promoting resource efficiency. Moreover, the market trend is supported by government regulations and initiatives that encourage sustainable waste management practices, creating opportunities for pyrolysis companies to expand their operations and offer environmentally friendly solutions.

Which region accounted for the largest share in Global Pyrolysis Oil Market?

North America holds a significant share in the pyrolysis oil market due to several factors. The region has well-established infrastructure, advanced technologies, and a strong focus on sustainability initiatives. The US and Canada have been at the forefront of adopting pyrolysis technology for the conversion of waste materials into valuable products like pyrolysis oil. The presence of stringent environmental regulations and government support for renewable energy sources has further driven the demand for pyrolysis oil in North America.

Pyrolysis Oil Market Size, Share, Growth Analysis, By Type (Fast Pyrolysis Oil, Slow Pyrolysis Oil), By Feedstock (Biomass, Plastic), By Raw Material (Waste Plastic, Waste Rubber), By Method Of Upgrading, By Process Technology, By Application, By Region - Industry Forecast 2025-2032

Report ID: SQMIG10C2014 | Region: Global | Published Date: December, 2024
Pages: 157 | Tables: 61 | Figures: 75

Pyrolysis Oil Market Insights

Pyrolysis Oil Market size was valued at USD 334.71 Million in 2023 and is poised to grow from USD 348.3 Million in 2024 to USD 477.95 Million by 2032, growing at a CAGR of 4.06% during the forecast period (2025-2032).

The global pyrolysis oil market is projected to continue growing steadily. The demand for renewable sources of energy is one of the major drivers of the pyrolysis oil market. With the challenges the world is currently facing environmentally, coupled with the need to reduce GHG emissions, there is a growing quest for finding alternative fuels that bring cleaner, more sustainable energy. For instance, biofuel production is rising significantly across the globe, with the United States, Brazil, and Indonesia as the top three producer nations. Among various types of biofuels, a significant amount of attention is received by pyrolysis oil, also known as bio-oil. From 2019 to 2020, the production of biofuels witnessed a drop of around 6%. Nevertheless, the sector recorded a strong comeback, as manifested by an estimated 10.8% growth from 2020 to 2022.

Pyrolysis oil is a perfect alternative due to its manufacture from organic waste materials making it a contribution toward lessening the inflow of fossil fuels and creating a means for a circular economy. The industrial sectors take up a sizeable share in the global pyrolysis oil market. Industries related to power generation, chemicals, and transportation are thus coming forward to use pyrolysis oil as an alternate fuel instead of traditional fuels. On the other hand, demand from the agricultural sector is also growing due to the byproduct, biochar, which is used as a soil amendment. It is a charcoal-like product enriched with nutrients.

US Pyrolysis Oil Market is poised to grow at a sustainable CAGR for the next forecast year.

Pyrolysis Oil Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Pyrolysis Oil Market size was valued at USD 322.36 million in 2022 and is poised to grow from USD 337.19 million in 2023 to USD 483.2 million by 2031, growing at a CAGR of 4.6% during the forecast period (2024-2031).

The Pyrolysis Oil Market is fragmented with many small and medium-sized enterprises operating in the industry. A combination of technological innovation, government regulations, and environmental concerns will further shape the competitive landscape of the global pyrolysis market. Companies in the market are tending to develop and deploy efficient pyrolysis technologies for the effective conversion of qualitative end products from a wide range of waste materials. These technologies maximize resource recovery while minimizing the environmental impacts of residue disposition. Product innovation is another key strategy being adopted by major key market players. The adoption of product innovation as a strategic imperative portrays the willingness of the industry to do better in terms of environmental challenges, efficiency, and increasing requirements within eco-friendly solutions. 'Enerkem ', 'Anellotech ', 'Vapotherm ', 'Greenergy ', 'Ensyn ', 'Alterra Energy ', 'IFP Energies nouvelles ', 'BTG Biomass Technology Group ', 'Pyrowave ', 'Licella ', 'Alterra Energy ', 'Bridgestone Corporation ', 'Green Fuel Nordic Oy ', 'New Energy Kft. ', 'Nexus Circular ', 'Plastic Energy ', 'New Hope Energy ', 'Agilyx ', 'Quantafuel ASA ', 'Trident Fuels (Pty) Ltd. '

Growing environmental concerns, largely about plastic pollution, act as a major impetus to the growth of the pyrolysis oil market. According to the latest analysis by SkyQuest, around 14 million tons of plastics flow into the world's oceans annually, which is highly hazardous to aquatic life and the associated ecosystems. This is a shocking statistic and thus points to the rising need for efficient solutions to reduce the nasty effects of plastic wastes on the environment. Reacting to these disturbing projections, many people are starting to realize the imperative need to embracing feasible waste management techniques and substitutes for traditional plastics.

Increasing focus on sustainable waste management: Since pyrolysis is a process of thermal decomposition, it has the most propitious solution for treating wastes of various forms. Nowadays, with the trend being towards sustainability, the adoption of pyrolysis technology increases due to the related benefits in changing wastes into useful resources in the form of fuel, chemicals, and raw materials. Through this, it diverts wastes from landfills and incinerators, minimizes environmental pollution, and enhances resource efficiency. This trend is further compounded by regulations and initiatives of governments, forcing and encouraging sustainable practices in the waste management setup, thus providing opportunities for companies operating in pyrolysis to expand operations in environmentally friendly solutions.

North America dominates with 39.36% of the global market share in the pyrolysis oil market, and several factors are contributing to this. The infrastructure, technology, and green developmental initiative are well set in the region. The US and Canada have been pioneering in adopting pyrolysis technology for waste materials conversion into valuable products such as pyrolysis oil. The US presents a fairly stable CAGR of 4.48%, hence one can say that the market is quite potent, once again; Canada charts glorious growth with a CAGR of 3.73% from 2024 to 2031. Other than the existence of strict regulation on environmental grounds and respective government support for renewable sources of energy, demand for pyrolysis oil in North America has further been driven.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Pyrolysis Oil Market Size, Share, Growth Analysis, By Type (Fast Pyrolysis Oil, Slow Pyrolysis Oil), By Feedstock (Biomass, Plastic), By Raw Material (Waste Plastic, Waste Rubber), By Method Of Upgrading, By Process Technology, By Application, By Region - Industry Forecast 2025-2032

Pyrolysis Oil Market Insights

Pyrolysis Oil Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Pyrolysis Oil Market?

Who are the key vendors in the Pyrolysis Oil Market?

What is the key driver of Pyrolysis Oil Market?

What is the key market trend for Pyrolysis Oil Market?

Which region accounted for the largest share in Pyrolysis Oil Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300