Pune, April 14, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, an international business & consultancy firm has recently published a report on the “Pyrolysis Oil Market”. The total global market size for the “Pyrolysis Oil Market” was valued at USD 331.9 Mn in 2022 and is expected to grow at a CAGR of 4.20 percent over the forecast period to reach USD 442.86 Mn by 2029.
| Market Size in 2022 | USD 331.9 Mn |
| Market Size in 2029 | USD 442.86 Mn |
| CAGR | 4.20 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 265 |
| No. of Tables | 118 |
| No. of Charts and Figures | 115 |
| Segment Covered | By Feedstock, Technology, End-Use and Region |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2023−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Pyrolysis Oil Market Report Scope and Research Methodology
The report provides the Pyrolysis Oil Market dynamics including challenges, opportunities, and drivers. The report covers an analysis of the market based on segmentation. A current business strategy, geographical expansion, cost & manufacturing, and pricing structures are included in the report. SWOT analysis was used to determine the strength, weaknesses, threats and opportunities of the global Pyrolysis Oil Market. The Pyrolysis Oil Market attractiveness index is provided on the basis of Porter’s five-force analysis. The report provides market size, share and growth potential of the Pyrolysis Oil Market and also includes a comprehensive competitive analysis of the leading players in the Pyrolysis Oil Market including their company profiles, recent developments, and insights about their products, business offerings and important market strategies.
Pyrolysis Oil Market Overview
Pyrolysis is used for the chemical breakdown of organic (carbon-based) materials when heat is applied. Any organic substance has been subjected to this thermochemical process. Materials are subjected to an extremely high temperature during this treatment, and in the absence of oxygen, they undergo a chemical and physical separation into several molecules. The temperature increases, the rate of pyrolysis accelerates and chemical change occurs in the substance that is subjected to pyrolysis.
An increasing need for environment-free fuel to drive the market growth
The increasing demand for rubber and plastic is due to the vast applications made of plastic and rubber. Energy security is a major concern and various countries across the world have been more focused on an adequate and clean source of fuel. The increase in demand for energy is due to robust economic growth and an increase in population. These factors are expected to boost the Pyrolysis Oil Market growth over the market.
Government regulation regarding reducing greenhouse gas emissions and initiatives for promoting renewable energy sources are expected to influence Pyrolysis Oil Market growth during the forecast period.
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In North America, huge biomass resources and an increasing focus on sustainability to boost the Pyrolysis Oil Market growth.
North America held the largest global Pyrolysis Oil Market share in 2022 and is expected to grow at a significant CAGR during the forecast period. U.S. and Canada are major consumers of Pyrolysis Oil in the region. The rising use of renewable energy sources is the main driving factor for the Pyrolysis Oil Market growth.
Pyrolysis Oil Market Segmentation
Based on Feedstock, the waste plastic Pyrolysis Oil segment to dominate the market over the forecast period
In 2022, the waste plastic segment held the largest Pyrolysis Oil Market share and is expected to grow at a significant CAGR over the forecast period. Pyrolysis oil is used as a feedstock for the production of biofuels, including biodiesel and renewable diesel. Tires are used as a feedstock for Pyrolysis Oil Market. The segment growth is driven by the increasing use of waste plastics such as polyethylene, polypropylene, and polystyrene in the market.
Based on Technology, the slow pyrolysis Pyrolysis Oil segment to dominate the market during the forecast period
The slow pyrolysis segment Pyrolysis Oil is expected to grow at a significant CAGR over the forecast period. In 2022, this segment dominated the global market share. This segment dominates its position in the global market over the forecast period.
Based on End-Users, the power generation segment to dominate the Pyrolysis Oil Market over the forecast period
In 2022, the power generation segment held the largest global market share 2022 and is expected to grow at a significant CAGR through the forecast period. The segment growth in the market is driven by the high demand for renewable energy sources.
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By Feedstock:
• Plastic waste
• Biomass
• Rubber
• Other
By Technology:
• Fast pyrolysis
• Slow pyrolysis
• Gasification
By End-Users:
• Fuel
• Chemicals
• Power generation
Pyrolysis Oil Key Players include:
• Ensyn Group
• BTG Biomass Technology Group
• Anellotech
• Klean Industries
• Agilyx Corporation
• Plastic Energy
• Advanced Biofuels USA
• Neste
• Renmatix
• VTT Technical Research Centre of Finland.
• Waste2Energy Solutions
• Agile Process Chemicals LLP
• Green Energy Biofuel
• Fuels From Waste
• Besten Green Technologies
• Global Renewable Energy Solutions
• Renewable Energy Corporation
• Biofuels International
• Global Renewable Solutions
• Bioenergy Solutions
• Advanced Biofuels India Pvt Ltd.
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Key questions answered in the Pyrolysis Oil Market are:
- What is Pyrolysis Oil?
- What was the Pyrolysis Oil Market size in 2022?
- What is the expected Pyrolysis Oil Market size by 2029?
- What is the growth rate of the Pyrolysis Oil Market?
- What are the key benefits of the Pyrolysis Oil Market?
- What are the new trends in Pyrolysis Oil?
- Which segment dominated the Pyrolysis Oil Market growth?
- What is the demand pattern for the Pyrolysis Oil Market?
- What are the driving, opportunity and restraining factors in the global Pyrolysis Oil Market?
- Which are the factors expected to drive the Pyrolysis Oil Market growth?
- Which factors are expected to restrain the Pyrolysis Oil Market growth?
- Which region held the largest share of the Pyrolysis Oil Market?
- Who are the key players in the Pyrolysis Oil Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Feedstock, Technology, End-Users and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is a leading Material & Chemical research firm that has also published the following reports:
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Tire Recycling Downstream Products Market: The total market size was valued at USD 4.71 Bn in 2022 and the total revenue is expected to grow at a CAGR of 3.41 percent from 2023 to 2029, reaching USD 5.96 Bn. Automating repetitive tasks and consistently checking data increases speed and team morale and is expected to drive market growth.
Wood Charcoal Market: The total market size was valued at USD 20.55 Bn in 2021 and the total revenue is expected to grow at a CAGR of 6.56 percent from 2022 to 2029, reaching USD 34.17 Bn. The increasing application of charcoal wood including anti-gastric drugs, deodorizers, filters, gas masks, and others is expected to drive market growth.
Biochar Market: The total market size was valued at USD 194.9 Mn in 2021 and the total revenue is expected to grow at a CAGR of 14 percent from 2022 to 2029, reaching USD 556.1 Mn. The increasing digitalization, cybercrime, cyber-attacks and cyber are expected to drive market growth.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic Industries, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified Type estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
