Plastic Waste Pyrolysis Oil Market Poised For Robust Growth, Projected To Reach USD 1 Billion With A 14.1% CAGR By 2034: Fact.MR Study

(MENAFN- GlobeNewsWire - Nasdaq) Use of Plastic Waste Pyrolysis Oil Increasing as Non-standard Diesel Fuel in Vehicles

Rockville , April 02, 2024 (GLOBE NEWSWIRE) -- The global plastic waste pyrolysis oil market is expected to reach US$ 269.4 million in 2024 and is projected to expand at a CAGR of 14.1% from 2024 to 2034.

Disposable plastic presents a significant contemporary issue due to its widespread use. Low-density polyethylene plastic possesses exceptional physicochemical properties, characterized by its high hydrogen-to-carbon ratio, rendering it the optimal choice for fuel production. The pyrolysis process of LDPE yields high-quality and high-yield outcomes.

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Due to its high gross calorific value, plastic waste pyrolysis oil can be utilized directly in a combustion furnace. With further refinement and distillation, it becomes suitable for use as non-standard diesel fuel in vehicles. This versatility allows plastic waste pyrolysis oil to be customized to specific transportation needs, making it a more viable alternative to fossil fuels.

Report Attribute	Details
Value Projection (2034)	US$ 1 Billion
Growth Rate (2024-2034)	14.1% CAGR
No. of pages	170 Pages
No. of Tables	176 Tables
No. of Figures	160 Figures

Key Takeaways from Market Study

• The global plastic waste pyrolysis oil market is projected to expand at 14.1% CAGR and reach US$ 1 billion by 2034-end.
• The market expanded at a CAGR of 10.6% from 2019 to 2023 and reached a valuation of US$ 240.3 million.
• Top market players include OMV Group, Neste, Agile Process Chemicals LLP, Quantafuel, Agilyx, Plastic Energy, LyondellBasell, Clariter, Pyrum, Klean Industries, New Hope Energy, and Cassandra Oil.
• Sales of low-density polyethylene are forecasted to rise at 14.4% CAGR through 2034.
• The market in China is projected to reach a valuation of US$ 207.7 million by the end of 2034.
  

“Plastic pyrolysis plants address the plastic disposal crisis by converting waste into valuable fuel. Stringent environmental regulations are prompting the development of sustainable solutions such as plastic waste pyrolysis oil production amidst rising energy demand,” says a Fact analyst.

Key Companies Profiled in This Report

• OMV Group
• Neste
• Agile Process Chemicals LLP
• Quantafuel
• Agilyx
• Plastic Energy
• LyondellBasell
• Clariter
• Pyrum
• Klean Industries
• New Hope Energy
• Cassandra Oil
• Itero
• Fuenix Ecogy
• PowerHouse Energy
• Other Players

Market Growth Stratagems

Companies are focusing on upgrading their products to enhance oil utilization in new industries. Collaborations with industry partners and research institutions drive innovation. Leading manufacturers focus on sustainable production to gain a competitive edge. With increasing demand, expansion plans and strategic collaborations help businesses adapt to evolving technology.

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More Valuable Insights on Offer

Fact, in its new offering, presents an unbiased analysis of the plastic waste pyrolysis oil market, presenting historical market data for 2019 to 2023 and forecast statistics from 2024 to 2034.

The study reveals essential insights based on feedstock (low-density polyethylene, high-density polyethylene, polypropylene, others), application (building insulation, packaging, floatation, others), process (fast pyrolysis, flash pyrolysis, slow pyrolysis), and end use (fuel, chemicals, heat & power, others), across key regions of the world (North America, Latin America, Western Europe, East Asia, Eastern Europe, South Asia & Pacific, and the Middle East & Africa).

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About Fact :

Fact is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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