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Pyrolysis Oil industry Growth
Held the largest market share in 2021 (nearly two-fifths), projected to maintain dominance through 2031.
WILMINGTON, DE, UNITED STATES, September 25, 2024 /EINPresswire / -- The global pyrolysis oil market , valued at $318.5 million in 2021, is projected to reach $480.9 million by 2031, growing at a CAGR of 4.3% from 2022 to 2031, according to Allied Market Research. This comprehensive report analyzes market dynamics, key segments, the value chain, competitive landscape, and regional trends, providing crucial insights for businesses, investors, and stakeholders looking to strategize for sustainable growth and maintain a competitive advantage.
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Key Highlights:
Market Overview:
- 2021 Market Size: $318.5 million
- 2031 Estimated Market Size: $480.9 million
- CAGR (2022–2031): 4.3%
- Report Length: 546 pages
- Key Segments Covered: Feedstock, process, fuel, and region
Market Drivers:
- Rising energy costs and increasing petroleum product prices
- Growing demand for plastic and rubber, particularly in manufacturing sectors
- Increasing infrastructure development globally
Opportunities:
- Rising need for environmentally-friendly fuels
Segment Analysis:
By Feedstock:
- Plastic Segment: Largest market share in 2021 (over two-fifths)
- Rubber Segment: Fastest growing with a projected CAGR of 4.6%
By Process:
- Slow Pyrolysis: Held the highest market share (over half) in 2021
- Fast Pyrolysis: Expected to grow at the highest CAGR of 4.5%
By End Use:
- Heat and Power Segment: Dominated with nearly 60% share in 2021
- Automotive Fuel Segment: Expected to witness the highest growth, with a CAGR of 4.6%
Regional Insights:
- North America: Held the largest market share in 2021 (nearly two-fifths), projected to maintain dominance through 2031.
- Asia-Pacific: Expected to grow the fastest with a CAGR of 4.7%, driven by increasing industrialization and energy demand.
Key Market Players:
Major companies driving the market include Bioenergy AE Cote-Nord, New Hope Energy, Green Fuel Nordic Oy, Agilyx, OMV Aktiengesellschaft, Quantafuel ASA, and Alterra Energy. These players are leveraging strategies such as product launches, expansions, and partnerships to strengthen their market presence.
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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.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. 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. 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
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