Pyrolysis Oil Market is expected to reach USD 448.95 million by 2029| Key Players: Agile Process Chemicals LLP (India), Klean Industries (Canada), BTG Biomass Technology Group (Netherlands)

Market Definition

Pyrolysis oil refers to a liquid substance obtained in pyrolysis process and subsequent cooling which is a synthetic fuel manufactured as a substitute for petroleum. The product, also known as biocrude or bio-oil, is a complex blend of molecules generally comprising more than 200 different compounds resulting from the depolymerisation of products treated in pyrolysis. This is one of the prominent sources of bio-chemicals and renewable compounds catering various industries.  

Global Pyrolysis Oil Market was valued at USD 315.69 million in 2021 and is expected to reach USD 448.95 million by 2029, registering a CAGR of 4.50% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Competitive Landscape and Pyrolysis Oil Market Share Analysis

The pyrolysis oil market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to pyrolysis oil market.

Some of the major players operating in the pyrolysis oil market are
Agile Process Chemicals LLP (India)
Klean Industries (Canada)
BTG Biomass Technology Group (Netherlands)
Trident Limited, India (India)
Pyro-Oil Nig. Ltd. (Nigeria)
Setra Systems (U.S.)
Agilyx, Inc (U.S.)
Alterra Mountain Company (U.S.)
P2O® Technology (U.S.)
Nexus Circular (U.S.)
Plastic Advanced Recycling Corp. (U.S.)
Brightmark LLC (U.S.)
OMV Aktiengesellschaft (Austria)
Niutech Environment Technology Corporation (China)
ETIA Group (France)
Chevron Phillips Chemical Company LLC (U.S.)
Divya International (India)
Ecomation Oy (Finland)
Kingtiger(shanghai) Environmental Technology Co., Ltd. (China)
ReCor Medical, Inc. (U.S.)

View the Full Report Here With TOC and Charts: https://www.databridgemarketresearch.com/reports/global-pyrolysis-oil-market

There has been rising environmental concerns and rapid depletion of fossil fuel supplies due to which the energy sector is progressively shifting toward a more sustainable and efficient path. Pyrolysis oil has the potential to be a viable alternative to diesel in compression ignition engines. This could further boost demand for the pyrolysis oil market. In addition to this, the market players are focused on alternative fuel resources in order to lessen reliance on a single energy source and use a variety of renewable energy sources. These factors will further fuel the consumption and adoption of pyrolysis oil globally, thus aiding the market growth even during the forecast period.

Opportunities

Inclination towards Renewable Energy Source and Energy Security

Furthermore, the growing inclination towards utilizing renewable energy sources and research and development activities to develop alternative fuels extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the increase in focus on enhancing energy security will further expand the future growth of the pyrolysis oil market.

Global Pyrolysis Oil Market Scope

The pyrolysis oil market is segmented on the basis of fuel, feedstock, process, raw material and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Fuel
Diesel
Gasoline
Fuel Oil
Others

 Feedstock
Plastic
LDPE
HDPE
PP
Rubber
Biomass
Lignocellulosic Biomass
Bagasse

 Process
Fast Pyrolysis
Flash Pyrolysis

Raw Material
Waste Plastic
Waste Tire
Waste Rubber
Oil Sludge

Application
Fuels
Chemicals
Heat and Power

Pyrolysis Oil Market Regional Analysis/Insights

The pyrolysis oil market is analyzed and market size insights and trends are provided by country, fuel, feedstock, process, raw material and application as referenced above.

The countries covered in the pyrolysis oil market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the growth of the industrial diesel engines and industrial boilers industry, use as an alternative for fossil fuel, use for deviating new products and government support within the region.

On the other hand, Asia-Pacific is estimated to show lucrative growth over the forecast period of 2022-2029, due to the favorable government policies and regulations to promote the development of renewable energy technologies in the region.

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