Waste-derived Pyrolysis Oil Market to Close in on US$ 500 Mn Valuation by 2029, as Efforts towards Waste Management Intensify

Feb 12,2020 | Chemicals & Materials

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 fulfil 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.

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 is projected to reach a value close to US$ 500 Mn in a decade, expanding at a moderate CAGR during the forecast period of 2019-2029.

Key Takeaways of 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 flavoring 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.

“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.”

waste derived pyrolysis oil market share by region

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 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.

For More Detailed Insights on Waste-derived Pyrolysis Oil Market

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.

Want to Know More?

Future Market Insights has published a market research report on the waste-derived pyrolysis oil market that contains global industry analysis of 2014–2018 and opportunity assessment for 2019–2029. The report provides insightful analysis of the waste-derived pyrolysis oil market through five different segments - fuel type, pyrolysis process, source, end use, and region. The waste-derived pyrolysis oil market report also talks about the demand trends of different types across industry verticals, a comprehensive list of service providers in the market, various projects around the world, and a detailed overview of the parent market.

For additional information, write to the analyst at [email protected]

About Chemicals & Materials division of FMI

The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Media Contact

Rahul Pandita

Rahul Pandita

Head – Corporate Communications

Abhishek Budholiya

Abhishek Budholiya

Head – Digital Marketing