Pyrolysis Oil Market, By Fuel (Diesel, Gasoline, Fuel Oil, Others), to reach USD 448.95 million by 2029, registering a CAGR of 4.50%

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.  

View Detailed Report: 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.

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.

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.)

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

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