Global Waste-Derived Pyrolysis Oil Market on a Steady Growth Trajectory, Anticipated to Exceed US$ 456.4 Million by 2029, Reports FMI

Waste-Derived Pyrolysis Oil Market

Waste-derived pyrolysis oil, a sustainable and innovative energy solution, is obtained through the pyrolysis process that converts organic waste materials into liquid fuel. This renewable resource shows great promise in reducing environmental impacts, mitigating waste accumulation, and promoting a circular economy. With its potential to replace fossil fuels, waste-derived pyrolysis oil offers a viable pathway toward greener energy production and a more sustainable future.

Waste-derived pyrolysis oil contributes towards waste reduction, is an excellent fuel and energy source, and can be used to extract other petroleum products. As a result, the global waste-derived pyrolysis oil market size is projected to reach a value close to US$ 500 million in a decade, expanding at a moderate compound annual growth rate during the forecast period of 2022-2029, Future Market Insights have stated.

The global waste-derived pyrolysis market is projected to grow at a rate of 4.7% over the coming years before reaching $330.8 million in 2022, according to FMI’s research team.

According to Future Market Insights, the increasing demand from several end-use industries has resulted in fluctuating oil prices in recent years. Oscillating oil prices have forced end users to look for alternative means to fulfill their fuel needs. Pyrolysis oil production utilizes different types of waste to produce oil, which can be used as diesel, gasoline, and automotive fuel, among others.

Accelerate Your Success: Unlock the Secrets of the Waste-derived Pyrolysis Oil Market – Download the Sample Report! https://www.futuremarketinsights.com/reports/sample/rep-gb-11058

Future Market Insights outlines key takeaways from its ‘Waste-derived Pyrolysis Oil Market’ study:

  • The fast pyrolysis process is practiced on a larger scale by multiple manufacturers; hence, it is expected to sustain its prominence over the forecast period.
  • Biomass, as a source, is easier to crack, and is also a very popular raw material in regions such as Europe, East Asia, and South Asia.
  • The waste-derived pyrolysis oil market is still in its nascent stage; however, it holds a lot of promise. End uses such as heat & power for energy production through boilers, turbines, and engines are expected to hold higher market share over the forecast period.
  • Waste-derived pyrolysis oil also has prominent application in food aromas, plant protectors, or growth enhancers in the food flavouring segment.
  • East Asia, Europe, and North America are expected to be prominent regional markets over the forecast period, owing to the presence of a large number of tier II & III players in East Asia, and tier I players in Europe and North America.

Future Market Insights has stated that “Global players such as BASF SE, Honeywell UOP, Dow Inc., and ConocoPhillips, among others, have invested strategically in the waste-derived pyrolysis oil market in the recent past, which suggests that major manufactures are keeping tabs in the market as it holds a lot of potential in the coming future.”

Market Landscape Moving Towards Fragmentation

The waste-derived pyrolysis oil market is fairly consolidated, as a few players have the capability of extensive R&D as well as production capacity.

Key Companies Profiled

  1. Fortum OyJ
  2. Enerkem
  3. Ensyn Corporation
  4. Twence B.V.
  5. Agilyx Corporation
  6. Green Fuel Nordic Corporation
  7. Vadxx Energy LLC
  8. Quantafuel AS
  9. RESYNERGI
  10. nexus FUELS, LLC
  11. JBI Inc. (Plastic2Oil®)

Key tier I manufacturers such as Agilyx, Inc., Enerkem, and Ensyn are opting for growth strategies such as collaborations, joint ventures, and other inorganic growth strategies, along with product development. However, the high emergence of new players is expected in the coming years, owing to the inexpensive set-up of pyrolysis units as well as yearly incrementing oil prices.

Unveiling the Method to Our Analytical Magic: Explore the Report Methodology Now! https://www.futuremarketinsights.com/request-report-methodology/rep-gb-11058

Waste-derived pyrolysis oil Market by Category

By Material:

  • Unrefined
  • Refined
    • Diesel
    • Petrol/Gasoline
    • Fuel oil
    • Others

By Pyrolysis Process:

  • Fast
  • Flash
  • Others

By Source:

  • Plastic
    • LDPE
    • HDPE
    • Polystyrene
    • Others
  • Rubber
  • Biomass

By End Use:

  • Heat & Power
    • Boilers
    • Gas Turbines
    • Diesel Engines
  • Automotive Fuel
  • Bio Refineries
  • Food Flavouring

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

What Does the Future Hold?

In the coming years, with the purchasing power of customers increasing in developing regions, the demand for waste-derived pyrolysis oil is also anticipated to rise. Demand for green technology, low carbon footprint, as well as cost-effective and energy-efficient materials from the heat & power generation industry is going to be a major driving force for the waste-derived pyrolysis oil market. Introduction of new applications such as food aromas and plant protection is knocking on the opportunity door for the waste-derived pyrolysis oil market, which is anticipated to experience steady growth.

About Future Market Insights, Inc. (FMI)

Future Market Insights, Inc. (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these