Pyrolysis Oil Market

Pyrolysis Oil Market Analysis

The market for pyrolysis oil is expected to grow as evidenced by its over 4.0% CAGR during a forecast period of 2021-2027. Pyrolysis oil is sometimes called bio-oil or bio-crude oil. It is a synthetic oil currently under investigation as a petroleum alternative. Since it’s being investigated as a substitute for petroleum, it serves similar trends and growth as petroleum. However, since pyrolysis oil is synthetic, its supply chain and growth trends may differ. The use of pyrolysis oil has increased since it’s used to operate boilers and furnaces. These uses predict an increase in the demand for pyrolysis oil, so there’s likely to be stimulation in the overall market for pyrolysis oil. Pyrolysis oil is also a better substitute for petroleum, and industry analysts predict it will help decrease carbon emissions by 90%. As a result, it may replace many fuels we are currently using, like natural gas and light fuel oils. The global Pyrolysis Oil market was valued at around USD 274.79 million and is projected to grow at a CAGR of over 4.07% during the forecast period to generate revenue of USD 410.32 million in 2027. The global Pyrolysis Oil market will likely offer a cumulative growth opportunity equivalent to USD 2.55 billion in the next few years.

Interesting Facts about Pyrolysis Oil Industry

• Based on the raw materials used pyrolysis oil plant can cost anywhere between USD 75,000 to USD 100,000
• Over 5 million tons of used tires are treated using pyrolysis technology worldwide
• Pyrolysis is very beneficial in reducing landfill
• Pyrolysis oil has the potential to take place as an alternative fuel
• Pyrolysis oil is costlier compared to traditional oil

Huge Growth Potential as an Alternative for Petroleum

The opportunities for pyrolysis oil are lucrative and many. Since it’s a substitute for petroleum, pyrolysis oil may be used in diesel engines and turbines. This fact means that pyrolysis oil can be used in the automobile industry. Pyrolysis oil is also synthetic, which means industries are likely to not run out of it. This oil can thus be used in every industry that requires petroleum. Focusing on the automobile industry, most cars use some form of petroleum to move around. Economies like Europe and America seek more eco-friendly petroleum alternatives to run their cars. Many automobile manufacturers have developed electric vehicles to combat cars that require fuel. However, these are expensive and not accessible to developing countries. Industrial boilers also use pyrolysis oil which means that the increase in demand for industrial boilers will drive the demand for pyrolysis oil. Fuels, Chemicals, Heat, and Power are the most dominant application markets for pyrolysis oil.

Exceptional Properties of Pyrolysis Oil Makes it a Lucrative Industry

Pyrolysis oil has different oxygen levels. It is non-corrosive and non-volatile due to the presence of oxygen. It also provides thermal stability. Due to these exceptional properties, it can be used as a substitute for petroleum. It can take the place of heavy oil, natural gas, and coal. These reasons are why it’s likely to have its largest market in North America. Pyrolysis oil also has a variety of different fractions which humans may use to receive products such as pyrolytic lignin and pyrolytic sugars.

Waste Tires to Lead the Industry

Waste Plastic, Waste Tire, Waste Rubber, and Oil Sludge are some of the essential raw materials used for pyrolysis treatment. Among all, waste tires are the most dominating category across the world. Over 1.5 billion tires are manufactured in the world every year. This, in turn, resulted in the huge availability of used and waste tires around the globe. Over 5 million tons of used tires are treated across the globe every year using pyrolysis treatment. Fast Pyrolysis and Flash Pyrolysis are two major processes used in this treatment. Fast pyrolysis is the most widely used process for pyrolysis of waste materials.

Investment in R&D is Very Less

The restraint in the Pyrolytic Oil market is the amount of research and development which is still to be done regarding its function. It took human beings years and years to understand the fractionation of crude oil and create processes to do so efficiently. With pyrolysis oil, there is still more room for growth and efficiency. Hence, the restraints include a lack of knowledge and information about pyrolysis oil. Furthermore, there are also problems faced by developing countries with the supply chain of pyrolysis oil as the demand for this product increases. There are also other factors to consider, like the cost of the raw materials to derive pyrolysis oil. Divya International, Recor, Trident Fuels Pty Ltd, Ecomation Oy, Biogreen (ETIA Group), BTG Biomass Technology Group, Chevron Phillips Chemical Company, Kingtiger (Shanghai) Environmental Technology Co. Ltd, Klean Fuels (Klean Industries Inc.) and Pyro-Oil Nig. Ltd is some of the major players operating in the pyrolysis oil industry; however, their investment in R&D is significantly less.

1.Preface
1.1.Report Description
1.1.1.Purpose of the Report
1.1.2.Target Audience
1.1.3.USP and Key Offerings
1.2.Research Scope
1.3.Research Methodology
1.3.1.Phase I – Secondary Research
1.3.2.Phase II – Primary Research
1.3.3.Phase III – Expert Panel Review
1.3.4.Approach Adopted
1.3.4.1.Top-Down Approach
1.3.4.2.Bottom-Up Approach
1.3.5.Assumptions
1.4.Market Segmentation

2.Executive Summary
2.1.Market Snapshot: Global Pyrolysis Oil Market

3.Market Dynamics & Factors Analysis
3.1.Introduction
3.1.1. Global Pyrolysis Oil Market Value, 2015-2027, (US$ Bn)
3.2.Market Dynamics
3.2.1.Key Growth Trends
3.2.2.Major Industry Challenges
3.2.3.Key Growth Pockets
3.3.Attractive Investment Proposition,2020
3.3.1.Raw Materials
3.3.2.Application
3.3.3.Process
3.3.4.Geography
3.4.Porter’s Five Forces Analysis
3.4.1.Threat of New Entrants
3.4.2.Bargaining Power of Buyers/Consumers
3.4.3.Bargaining Power of Suppliers
3.4.4.Threat of Substitute Types
3.4.5.Intensity of Competitive Rivalry
3.5.Value Chain Analysis

4.Market Positioning of Key Players, 2020
4.1.Company market share of key players, 2020
4.2.Top 6 Players
4.3.Top 3 Players
4.4.Major Strategies Adopted by Key Players

5.COVID 19 Impact Analysis
5.1.Global Pyrolysis Oil Market Pre Vs Post COVID 19, 2019 – 2027
5.2.Impact on Import & Export
5.3.Impact on Demand & Supply
6.North America
6.1.North America Pyrolysis Oil Market, by Country, 2015-2027(US$ Bn)
6.1.1.U.S.
6.1.2.Canada
6.1.3.Mexico
6.2.North America Pyrolysis Oil Market, by Raw Material, 2015-2027(US$ Bn)
6.2.1.Overview
6.2.2.Waste Plastic
6.2.3.Waste Tires
6.2.4.Waste Rubber
6.2.5.Oil Sludge
6.3.North America Pyrolysis Oil Market, by Application, 2015-2027(US$ Bn)
6.3.1.Overview
6.3.2.Fuels
6.3.3.Chemicals
6.3.4.Heat
6.3.5.Power
6.4.North America Pyrolysis Oil Market, by Process, 2015-2027(US$ Bn)
6.4.1.Overview
6.4.2.Fast Pyrolysis
6.4.3.Flash Pyrolysis

7.Europe
7.1.Europe Pyrolysis Oil Market, by Country, 2015-2027(US$ Bn)
7.1.1.UK
7.1.2.France
7.1.3.Germany
7.1.4.Italy
7.1.5.Russia
7.1.6.Spain
7.1.7.Belgium
7.1.8.Netherland
7.1.9.Austria
7.1.10.Sweden
7.1.11.Poland
7.1.12.Denmark
7.1.13.Switzerland
7.1.14.Rest of Europe
7.2.Europe Pyrolysis Oil Market, by Raw Material, 2015-2027(US$ Bn)
7.2.1.Overview
7.2.2.Waste Plastic
7.2.3.Waste Tires
7.2.4.Waste Rubber
7.2.5.Oil Sludge
7.3.Europe Pyrolysis Oil Market, by Application, 2015-2027(US$ Bn)
7.3.1.Overview
7.3.2.Fuels
7.3.3.Chemicals
7.3.4.Heat
7.3.5.Power
7.4.Europe Pyrolysis Oil Market, by Process, 2015-2027(US$ Bn)
7.4.1.Overview
7.4.2.Fast Pyrolysis
7.4.3.Flash Pyrolysis

8.Asia Pacific
8.1.Asia Pacific Pyrolysis Oil Market, by Country, 2015-2027(US$ Bn)
8.1.1.China
8.1.2.Japan
8.1.3.South Korea
8.1.4.India
8.1.5.Australia
8.1.6.New Zealand
8.1.7.Taiwan
8.1.8.Southeast Asia
8.1.9.Central Asia
8.1.10.Rest of Asia Pacific
8.2.Asia Pacific Pyrolysis Oil Market, by Raw Material, 2015-2027(US$ Bn)
8.2.1.Overview
8.2.2.Waste Plastic
8.2.3.Waste Tires
8.2.4.Waste Rubber
8.2.5.Oil Sludge
8.3.Asia Pacific Pyrolysis Oil Market, by Application, 2015-2027(US$ Bn)
8.3.1.Overview
8.3.2.Fuels
8.3.3.Chemicals
8.3.4.Heat
8.3.5.Power
8.4.Asia Pacific Pyrolysis Oil Market, by Process, 2015-2027(US$ Bn)
8.4.1.Overview
8.4.2.Fast Pyrolysis
8.4.3.Flash Pyrolysis

9.Latin America
9.1.Latin America Pyrolysis Oil Market, by Country, 2015-2027(US$ Bn)
9.1.1.Brazil
9.1.2.Argentina
9.1.3.Peru
9.1.4.Chile
9.1.5.Colombia
9.1.6.Rest of Latin America
9.2.Latin America Pyrolysis Oil Market, by Raw Material, 2015-2027(US$ Bn)
9.2.1.Overview
9.2.2.Waste Plastic
9.2.3.Waste Tires
9.2.4.Waste Rubber
9.2.5.Oil Sludge
9.3.Latin America Pyrolysis Oil Market, by Application, 2015-2027(US$ Bn)
9.3.1.Overview
9.3.2.Fuels
9.3.3.Chemicals
9.3.4.Heat
9.3.5.Power
9.4.Latin America Pyrolysis Oil Market, by Process, 2015-2027(US$ Bn)
9.4.1.Overview
9.4.2.Fast Pyrolysis
9.4.3.Flash Pyrolysis

10.Middle East
10.1.Middle East Pyrolysis Oil Market, by Country, 2015-2027(US$ Bn)
10.1.1.UAE
10.1.2.KSA
10.1.3.Israel
10.1.4.Turkey
10.1.5.Iran
10.1.6.Rest of Middle East
10.2.Middle East Pyrolysis Oil Market, by Raw Material, 2015-2027(US$ Bn)
10.2.1.Overview
10.2.2.Waste Plastic
10.2.3.Waste Tires
10.2.4.Waste Rubber
10.2.5.Oil Sludge
10.3.Middle East Pyrolysis Oil Market, by Application, 2015-2027(US$ Bn)
10.3.1.Overview
10.3.2.Fuels
10.3.3.Chemicals
10.3.4.Heat
10.3.5.Power
10.4.Middle East Pyrolysis Oil Market, by Process, 2015-2027(US$ Bn)
10.4.1.Overview
10.4.2.Fast Pyrolysis
10.4.3.Flash Pyrolysis

11.Africa
11.1.Africa Pyrolysis Oil Market, by Country, 2015-2027(US$ Bn)
11.1.1.South Africa
11.1.2.Egypt
11.1.3.Nigeria
11.1.4.Rest of Africa
11.2.Africa Pyrolysis Oil Market, by Raw Material, 2015-2027(US$ Bn)
11.2.1.Overview
11.2.2.Waste Plastic
11.2.3.Waste Tires
11.2.4.Waste Rubber
11.2.5.Oil Sludge
11.3.Africa Pyrolysis Oil Market, by Application, 2015-2027(US$ Bn)
11.3.1.Overview
11.3.2.Fuels
11.3.3.Chemicals
11.3.4.Heat
11.3.5.Power
11.4.Africa Pyrolysis Oil Market, by Process, 2015-2027(US$ Bn)
11.4.1.Overview
11.4.2.Fast Pyrolysis
11.4.3.Flash Pyrolysis

12.Global
12.1.Global Pyrolysis Oil Market, by Raw Material, 2015-2027(US$ Bn)
12.1.1.Overview
12.1.2.Waste Plastic
12.1.3.Waste Tires
12.1.4.Waste Rubber
12.1.5.Oil Sludge
12.2.Global Pyrolysis Oil Market, by Application, 2015-2027(US$ Bn)
12.2.1.Overview
12.2.2.Fuels
12.2.3.Chemicals
12.2.4.Heat
12.2.5.Power
12.3.Global Pyrolysis Oil Market, by Process, 2015-2027(US$ Bn)
12.3.1.Overview
12.3.2.Fast Pyrolysis
12.3.3.Flash Pyrolysis

13.Company Profiles
13.1.Divya International
13.2.Recor
13.3.Trident Fuels Pty Ltd
13.4.Ecomation Oy
13.5.Biogreen (ETIA Group)
13.6.BTG Biomass Technology Group
13.7.Chevron Phillips Chemical Company
13.8.Kingtiger (Shanghai) Environmental Technology Co. Ltd
13.9.Klean Fuels (Klean Industries Inc.)
13.10.Pyro-Oil Nig. Ltd
13.11.Others

List of Figures

FIG. 1Global Pyrolysis Oil Market: Research Methodology
FIG. 2Market Size Estimation – Top Down & Bottom up Approach
FIG. 3Global Pyrolysis Oil Market Segmentation
FIG. 4Global Pyrolysis Oil Market, by Type, 2019 (US$ Bn)
FIG. 5Global Pyrolysis Oil Market, by Distribution Channel, 2019 (US$ Bn)
FIG. 6Global Pyrolysis Oil Market, by Geography, 2019 (US$ Bn)
FIG. 7Attractive Investment Proposition, by Geography, 2019
FIG. 8Global Market Positioning of Key Pyrolysis Oil Market Manufacturers, 2019
FIG. 9Global Pyrolysis Oil Market Value Contribution, By Raw Material, 2020 & 2027 (Value %)
FIG. 10Global Pyrolysis Oil Market, by Waste Plastic, Value, 2015-2027 (US$ Bn)
FIG. 11Global Pyrolysis Oil Market, by Waste Tires, Value, 2015-2027 (US$ Bn)
FIG. 12Global Pyrolysis Oil Market, by Waste Rubber, Value, 2015-2027 (US$ Bn)
FIG. 13Global Pyrolysis Oil Market, by Oil Sludge, Value, 2015-2027 (US$ Bn)
FIG. 14Global Pyrolysis Oil Market Value Contribution, By Application, 2020 & 2027 (Value %)
FIG. 15Global Pyrolysis Oil Market, by Fuels, Value, 2015-2027 (US$ Bn)
FIG. 16Global Pyrolysis Oil Market, by Chemicals, Value, 2015-2027 (US$ Bn)
FIG. 17Global Pyrolysis Oil Market, by Power, Value, 2015-2027 (US$ Bn)
FIG. 18Global Pyrolysis Oil Market, by Heat, Value, 2015-2027 (US$ Bn)
FIG. 19Global Pyrolysis Oil Market Value Contribution, By Process, 2020 & 2027 (Value %)
FIG. 20Global Pyrolysis Oil Market, by Fast Pyrolysis, Value, 2015-2027 (US$ Bn)
FIG. 21Global Pyrolysis Oil Market, by Flash Pyrolysis, Value, 2015-2027 (US$ Bn)
FIG. 22Global Pyrolysis Oil Market Value Contribution, By Vertical, 2020 & 2027 (Value %)
FIG. 23Global Pyrolysis Oil Market, by Oil & Gas, Value, 2015-2027 (US$ Bn)
FIG. 24Global Pyrolysis Oil Market, by Aerospace, Value, 2015-2027 (US$ Bn)
FIG. 25Global Pyrolysis Oil Market, by Automotive, Value, 2015-2027 (US$ Bn)
FIG. 26Global Pyrolysis Oil Market, by Electronics & Semiconductor, Value, 2015-2027 (US$ Bn)
FIG. 27Global Pyrolysis Oil Market, by Power Generation, Value, 2015-2027 (US$ Bn)
FIG. 28Global Pyrolysis Oil Market, by Food & Beverages, Value, 2015-2027 (US$ Bn)
FIG. 29U.S. Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 30Rest of North America Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 31U.K. Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 32Germany Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 33France Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 34Italy Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 35Spain Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 36Russia Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 37BENELUX Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 38Poland Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 39Austria Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 40Rest of Europe Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 41Japan Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 42China Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 43India Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 44South Korea Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 45Australia Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 46Southeast Asia Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 47Rest of Asia Pacific Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 48Middle East & Africa Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 49South Africa Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 50Nigeria Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 51Egypt Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 52GCC Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 53Israel Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 54Latin America Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 55Mechanicalzil Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 56Argentina Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 57Colombia Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 58Peru Pyrolysis Oil Market, 2015-2027 (US$ Bn)
FIG. 59Chile Pyrolysis Oil Market, 2015-2027 (US$ Bn)

List of Tables

TABLE 1Market Snapshot: Global Beauty Devices (Pyrolysis Oil) Market
TABLE 2Global Pyrolysis Oil Market, by Type, 2015-2027 (US$ Bn)
TABLE 3Global Pyrolysis Oil Market, by Distribution Channel, 2015-2027 (US$ Bn)
TABLE 4Global Pyrolysis Oil Market, by Geography, 2015-2027 (US$ Bn)
TABLE 5North America Pyrolysis Oil Market, by Type, 2015-2027 (US$ Bn)
TABLE 6North America Pyrolysis Oil Market, by Distribution Channel, 2015-2027 (US$ Bn)
TABLE 7North America Pyrolysis Oil Market, by Country, 2015-2027 (US$ Bn)
TABLE 8Europe Pyrolysis Oil Market, by Type, 2015-2027 (US$ Bn)
TABLE 9Europe Pyrolysis Oil Market, by Distribution Channel, 2015-2027 (US$ Bn)
TABLE 10Europe Pyrolysis Oil Market, by Country/Region, 2015-2027 (US$ Bn)
TABLE 11Asia Pacific Pyrolysis Oil Market, by Type, 2015-2027 (US$ Bn)
TABLE 12Asia Pacific Pyrolysis Oil Market, by Distribution Channel, 2015-2027 (US$ Bn)
TABLE 13Asia Pacific Pyrolysis Oil Market, by Country/Region, 2015-2027 (US$ Bn)
TABLE 14Latin America Pyrolysis Oil Market, by Type, 2015-2027 (US$ Bn)
TABLE 15Latin America Pyrolysis Oil Market, by Distribution Channel, 2015-2027 (US$ Bn)
TABLE 16Latin America Pyrolysis Oil Market, by Country/Region, 2015-2027 (US$ Bn)
TABLE 17Middle East Pyrolysis Oil Market, by Type, 2015-2027 (US$ Bn)
TABLE 18Middle East Pyrolysis Oil Market, by Distribution Channel, 2015-2027 (US$ Bn)
TABLE 19Middle East Pyrolysis Oil Market, by Country/Region, 2015-2027 (US$ Bn)
TABLE 20Africa Pyrolysis Oil Market, by Type, 2015-2027 (US$ Bn)
TABLE 21Africa Pyrolysis Oil Market, by Distribution Channel, 2015-2027 (US$ Bn)
TABLE 22Africa Pyrolysis Oil Market, by Country/Region, 2015-2027 (US$ Bn)