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Pyrolysis Oil Market Trends
Plastic feedstock segment held the largest share in 2021 and is expected to maintain dominance, while the rubber segment is poised for the highest CAGR.
Rise in the need for environment-friendly fuel serves as a potential opportunity for the expansion of the global pyrolysis oil market. Based on feedstock, the plastic segment held the highest share” - David Correa
WILMINGTON, DELAWARE, UNITED STATES, March 25, 2024 /EINPresswire / -- The global pyrolysis oil market , as reported by Allied Market Research, attained a valuation of $318.5 million in 2021 and is anticipated to reach $480.9 million by 2031, with a Compound Annual Growth Rate (CAGR) of 4.3% from 2022 to 2031. This report offers a comprehensive analysis of evolving market dynamics, key segments, value chain, competitive landscape, and regional outlook. It serves as a valuable resource for industry leaders, investors, stakeholders, and startups in formulating strategies for sustainable growth and competitive advantage.
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Key Highlights:
- Forecast Period: 2022–2031
- Base Year: 2021
- Market Size (2021): $318.5 million
- Market Size (2031): $480.9 million
- CAGR: 4.3%
- Number of Pages in Report: 546
Segments Covered:
- Feedstock
- Process
- Fuel
- Region
Drivers:
- Increasing energy costs and petroleum product prices globally
- Surge in demand for plastic and rubber
- Rise in plastic consumption, particularly in sectors like food and beverage manufacturing
- Growth in infrastructure development projects worldwide
Opportunities:
- Growing demand for environmentally friendly fuel
Restraints:
Impact of the COVID-19 pandemic
COVID-19 Scenario:
- Pandemic-induced lockdowns and restrictions disrupted industrial activities, hampering market expansion.
- Supply chain disruptions, limited workforce, and financial constraints immobilized sectors like chemicals and heat/power generation, affecting pyrolysis oil usage.
- However, with the easing of restrictions and recovery in oil, gas, chemical, and power sectors, coupled with sustainability initiatives, interest in pyrolysis oil has been reignited.
Segment Analysis:
- Plastic feedstock segment held the largest share in 2021 and is expected to maintain dominance, while the rubber segment is poised for the highest CAGR.
- Slow pyrolysis process dominated in 2021 and is forecasted to continue leading, with fast pyrolysis exhibiting the highest CAGR.
- Heat and power segment led in 2021, but automotive fuel segment is expected to witness the highest CAGR.
- North America led the market in 2021, with Asia-Pacific projected to witness the fastest CAGR.
Key Players:
- Bioenergy AE Cote-Nord
- New Hope Energy
- Green Fuel Nordic Oy
- Agilyx
- OMV Aktiengesellschaft
- Plastic Advanced Recycling Corp.
- Quantafuel ASA
- Alterra Energy
- Ensyn
- Niutech
- Strategies:
Key players have adopted diverse strategies such as new product launches, collaborations, expansions, joint ventures, and agreements to bolster market presence and sustain dominance.
This report furnishes detailed insights into market players' performances, operating segments, product portfolios, and strategic maneuvers, facilitating a comprehensive understanding of the competitive landscape.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+1 5038946022
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