Product Code: A53512
The global pyrolysis oil market was valued at $318.5 million in 2021, and is projected to reach $480.9 million by 2031, growing at a CAGR of 4.3% from 2022 to 2031.
Pyrolysis oil is a liquid substance obtained in the pyrolysis process and subsequent cooling, which is a synthetic fuel manufactured as a substitute for petroleum. The product, also known as crude or bio-oil, is a complex blend of molecules generally comprising more than 200 different compounds resulting from the depolymerization of products treated in pyrolysis.
One of the main factors driving demand for refined pyrolysis oil and, subsequently, the expansion of the world market for waste-derived pyrolysis oil is the increasing industrial adoption of power generation systems using turbines and diesel engines. Urbanization, rising per capita disposable income, and expansion of power generation in large-scale enterprises and power plants are all accelerating the recovery of the refined pyrolysis oil power generation industry around the globe.
Plastic waste is becoming one of the largest components of municipal solid waste due to the rise in plastic consumption around the globe. There is a rise in plastic trash production and consumption with the growth in the human population, rapid economic development, ongoing urbanization, and changes in lifestyle. There is an increase in the daily generation of plastic waste owing to the short lifespan of plastic. Around 300 million tons of plastic are produced worldwide annually, according to estimates. Plastic trash is frequently converted into energy using the pyrolysis process, which produces solid, liquid, and gaseous fuels. Pyrolysis is an eco-friendly method to convert plastic waste into pyrolysis oil.
Biochar, bio-oil, and gases like methane, hydrogen, carbon monoxide, and carbon dioxide are the byproducts of biomass pyrolysis. Pyrolysis will produce mostly biochar at low temperatures, less than 450 °C, when the heating rate is very slow, and most gases at high temperatures, greater than 800 °C, with rapid heating rates, depending on the thermal environment and the final temperature. The primary product is bio-oil, which is heated at a medium temperature and at a moderately rapid rate.
Bio-oil is a liquid that resembles biomass in color and chemistry. Compared to woody products, it has a substantially higher density, which lowers the cost of storage and transportation. Direct use of bio-oil in conventional internal combustion engines is not recommended. As an alternative, the oil can be transformed into syngas, which can subsequently be converted into bio-diesel, or into a specific engine fuel. Because it can be handled and burned more easily than solid fuel and is less expensive to carry and store than solid fuel, bio-oil is particularly appealing for co-firing.
Flash pyrolysis*(sometimes called*very*fast pyrolysis), characterized by rapid heating rates (>1000*°C/s) and high reaction temperatures (900-1300*°C), has been shown to afford high yields of bio-oil with low resulting water content and conversion efficiencies of up to 70%*. Flash pyrolysis is an important technique for biomass conversion into eco-friendly biofuels. At optimal conditions, flash pyrolysis oil yields can reach 60-75 wt%. Temperature, heating rate, and residence time must all fall within the range of 450-600 °C, 103-104°C/s, and 1 s for the method to be effective. High water content (often > 15 wt%) is a defining characteristic of flash pyrolysis oil. Phenols are the primary pyrolysis byproducts of biomass that contains lignin.
A wide range of biomass feedstocks can be used in pyrolysis processes. The moisture content of the feedstock-which should be around 10%-is crucial to the pyrolysis process. High quantities of water are created at greater moisture content, while at lower levels, there is a chance that the process will only produce dust rather than oil. Prior to pyrolysis, high-moisture waste streams including sludge and meat processing wastes need to be dried.
A lot of attention has been paid to biomass pyrolysis because of its high effectiveness and excellent environmental performance characteristics. Additionally, it offers a chance to turn municipal solid waste, wood refuse, and agricultural residues into clean energy. Additionally, with its reliable, clean, and straightforward production process, biochar sequestration might have a significant impact on global fossil fuel emissions.
Refined oil demand in end-use industries has increased significantly in nations like China and the U.S. Significant expenditures have been made for the improvement of waste-derived pyrolysis oil in developing nations like India, Benelux, and ASEAN. The market for pyrolysis oil is expected to develop as a result of the expansion of the heat and power generating and automobile fuel sectors.
A common industrial fuel replacement for furnace oil is pyrolysis oil. Pyrolysis oil is mostly utilized in heavy sectors, including construction heating, steel, glass, cement, power, boiler, and hotel heating. Pyrolysis oil can be potentially used to heat boilers (as a combustion fuel), which can be used to produce electricity in the future. In addition, pyrolysis oil-based products that have been improved or refined can also be used in gas turbines and diesel generators. Several countries are considering switching from coal-fired power facilities to gas turbine generators in order to provide electricity with fewer carbon emissions. Additionally, pyrolysis oil can be utilized as a fuel for combustion in a variety of sectors, including cement, steel, glass, and brick facilities. Pyrolysis oil can be used as a feedstock for refining diesel fuel in addition to direct combustion. A distillation device is capable of converting it into diesel. Trucks, tractors, ships, and diesel generators can all use the diesel produced once the pyrolysis oil has been processed into it by a pyrolysis oil distillation device.
The major players operating in the global pyrolysis oils market are: Plastic Advanced Recycling Corp., Trident Fuels (Pty) Ltd, Niutech, Quantafuel ASA, Ensyn, Twence, Green Fuel Nordic Oy, Alterra Energy, New Hope Energy, and Bioenergy AE Cote-Nord. Other players operating in the market are Pyro-Oil Nig. Ltd., SetraKlean Industries Inc., BTG Biomass Technology Group, Agile Process Chemicals LLP and OMV Aktiengesellschaft.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pyrolysis oil market analysis from 2021 to 2031 to identify the prevailing pyrolysis oil market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the pyrolysis oil market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global pyrolysis oil market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Feedstock
- Plastic
- Rubber
- Biomass
- Others
By End use
- Heat and power
- Automotive fuel
- Others
By Process
- Fast pyrolysis
- Flash pyrolysis
- Slow Pyrolysis
By Region
- North America
- Europe
- Germany
- France
- Italy
- UK
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market 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
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.3.1. Bargaining power of suppliers
- 3.3.2. Bargaining power of buyers
- 3.3.3. Threat of substitutes
- 3.3.4. Threat of new entrants
- 3.3.5. Intensity of rivalry
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. High demand from Heat and Power application
- 3.4.1.2. Increased adoption of eco-friendly fuel alternatives
- 3.4.2. Restraints
- 3.4.2.1. Problem associated with storage and transportation of pyrolysis oil
- 3.4.3. Opportunities
- 3.4.3.1. Increase in focus on energy security
- 3.5. COVID-19 Impact Analysis on the market
- 3.6. Key Regulation Analysis
- 3.7. Market Share Analysis
- 3.8. Patent Landscape
- 3.9. Pricing Analysis
- 3.10. Regulatory Guidelines
- 3.11. Value Chain Analysis
CHAPTER 4: PYROLYSIS OIL MARKET, BY FEEDSTOCK
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Plastic
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Rubber
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Biomass
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
- 4.5. Others
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country
CHAPTER 5: PYROLYSIS OIL MARKET, BY PROCESS
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Fast pyrolysis
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Flash pyrolysis
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. Slow Pyrolysis
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
CHAPTER 6: PYROLYSIS OIL MARKET, BY END USE
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Heat and power
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Automotive fuel
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- 6.4. Others
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
CHAPTER 7: PYROLYSIS OIL MARKET, BY REGION
- 7.1. Overview
- 7.1.1. Market size and forecast By Region
- 7.2. North America
- 7.2.1. Key trends and opportunities
- 7.2.2. Market size and forecast, by Feedstock
- 7.2.3. Market size and forecast, by Process
- 7.2.4. Market size and forecast, by End use
- 7.2.5. Market size and forecast, by country
- 7.2.5.1. U.S.
- 7.2.5.1.1. Key market trends, growth factors and opportunities
- 7.2.5.1.2. Market size and forecast, by Feedstock
- 7.2.5.1.3. Market size and forecast, by Process
- 7.2.5.1.4. Market size and forecast, by End use
- 7.2.5.2. Canada
- 7.2.5.2.1. Key market trends, growth factors and opportunities
- 7.2.5.2.2. Market size and forecast, by Feedstock
- 7.2.5.2.3. Market size and forecast, by Process
- 7.2.5.2.4. Market size and forecast, by End use
- 7.2.5.3. Mexico
- 7.2.5.3.1. Key market trends, growth factors and opportunities
- 7.2.5.3.2. Market size and forecast, by Feedstock
- 7.2.5.3.3. Market size and forecast, by Process
- 7.2.5.3.4. Market size and forecast, by End use
- 7.3. Europe
- 7.3.1. Key trends and opportunities
- 7.3.2. Market size and forecast, by Feedstock
- 7.3.3. Market size and forecast, by Process
- 7.3.4. Market size and forecast, by End use
- 7.3.5. Market size and forecast, by country
- 7.3.5.1. Germany
- 7.3.5.1.1. Key market trends, growth factors and opportunities
- 7.3.5.1.2. Market size and forecast, by Feedstock
- 7.3.5.1.3. Market size and forecast, by Process
- 7.3.5.1.4. Market size and forecast, by End use
- 7.3.5.2. France
- 7.3.5.2.1. Key market trends, growth factors and opportunities
- 7.3.5.2.2. Market size and forecast, by Feedstock
- 7.3.5.2.3. Market size and forecast, by Process
- 7.3.5.2.4. Market size and forecast, by End use
- 7.3.5.3. Italy
- 7.3.5.3.1. Key market trends, growth factors and opportunities
- 7.3.5.3.2. Market size and forecast, by Feedstock
- 7.3.5.3.3. Market size and forecast, by Process
- 7.3.5.3.4. Market size and forecast, by End use
- 7.3.5.4. UK
- 7.3.5.4.1. Key market trends, growth factors and opportunities
- 7.3.5.4.2. Market size and forecast, by Feedstock
- 7.3.5.4.3. Market size and forecast, by Process
- 7.3.5.4.4. Market size and forecast, by End use
- 7.3.5.5. Spain
- 7.3.5.5.1. Key market trends, growth factors and opportunities
- 7.3.5.5.2. Market size and forecast, by Feedstock
- 7.3.5.5.3. Market size and forecast, by Process
- 7.3.5.5.4. Market size and forecast, by End use
- 7.3.5.6. Rest of Europe
- 7.3.5.6.1. Key market trends, growth factors and opportunities
- 7.3.5.6.2. Market size and forecast, by Feedstock
- 7.3.5.6.3. Market size and forecast, by Process
- 7.3.5.6.4. Market size and forecast, by End use
- 7.4. Asia-Pacific
- 7.4.1. Key trends and opportunities
- 7.4.2. Market size and forecast, by Feedstock
- 7.4.3. Market size and forecast, by Process
- 7.4.4. Market size and forecast, by End use
- 7.4.5. Market size and forecast, by country
- 7.4.5.1. China
- 7.4.5.1.1. Key market trends, growth factors and opportunities
- 7.4.5.1.2. Market size and forecast, by Feedstock
- 7.4.5.1.3. Market size and forecast, by Process
- 7.4.5.1.4. Market size and forecast, by End use
- 7.4.5.2. India
- 7.4.5.2.1. Key market trends, growth factors and opportunities
- 7.4.5.2.2. Market size and forecast, by Feedstock
- 7.4.5.2.3. Market size and forecast, by Process
- 7.4.5.2.4. Market size and forecast, by End use
- 7.4.5.3. Japan
- 7.4.5.3.1. Key market trends, growth factors and opportunities
- 7.4.5.3.2. Market size and forecast, by Feedstock
- 7.4.5.3.3. Market size and forecast, by Process
- 7.4.5.3.4. Market size and forecast, by End use
- 7.4.5.4. South Korea
- 7.4.5.4.1. Key market trends, growth factors and opportunities
- 7.4.5.4.2. Market size and forecast, by Feedstock
- 7.4.5.4.3. Market size and forecast, by Process
- 7.4.5.4.4. Market size and forecast, by End use
- 7.4.5.5. Australia
- 7.4.5.5.1. Key market trends, growth factors and opportunities
- 7.4.5.5.2. Market size and forecast, by Feedstock
- 7.4.5.5.3. Market size and forecast, by Process
- 7.4.5.5.4. Market size and forecast, by End use
- 7.4.5.6. Rest of Asia-Pacific
- 7.4.5.6.1. Key market trends, growth factors and opportunities
- 7.4.5.6.2. Market size and forecast, by Feedstock
- 7.4.5.6.3. Market size and forecast, by Process
- 7.4.5.6.4. Market size and forecast, by End use
- 7.5. LAMEA
- 7.5.1. Key trends and opportunities
- 7.5.2. Market size and forecast, by Feedstock
- 7.5.3. Market size and forecast, by Process
- 7.5.4. Market size and forecast, by End use
- 7.5.5. Market size and forecast, by country
- 7.5.5.1. Brazil
- 7.5.5.1.1. Key market trends, growth factors and opportunities
- 7.5.5.1.2. Market size and forecast, by Feedstock
- 7.5.5.1.3. Market size and forecast, by Process
- 7.5.5.1.4. Market size and forecast, by End use
- 7.5.5.2. South Africa
- 7.5.5.2.1. Key market trends, growth factors and opportunities
- 7.5.5.2.2. Market size and forecast, by Feedstock
- 7.5.5.2.3. Market size and forecast, by Process
- 7.5.5.2.4. Market size and forecast, by End use
- 7.5.5.3. Saudi Arabia
- 7.5.5.3.1. Key market trends, growth factors and opportunities
- 7.5.5.3.2. Market size and forecast, by Feedstock
- 7.5.5.3.3. Market size and forecast, by Process
- 7.5.5.3.4. Market size and forecast, by End use
- 7.5.5.4. Rest of LAMEA
- 7.5.5.4.1. Key market trends, growth factors and opportunities
- 7.5.5.4.2. Market size and forecast, by Feedstock
- 7.5.5.4.3. Market size and forecast, by Process
- 7.5.5.4.4. Market size and forecast, by End use
CHAPTER 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product Mapping of Top 10 Player
- 8.4. Competitive Dashboard
- 8.5. Competitive Heatmap
- 8.6. Top player positioning, 2021
CHAPTER 9: COMPANY PROFILES
- 9.1. Green Fuel Nordic Oy
- 9.1.1. Company overview
- 9.1.2. Key Executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.2. Bioenergy AE Cote-Nord
- 9.2.1. Company overview
- 9.2.2. Key Executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.2.6. Key strategic moves and developments
- 9.3. New Hope Energy
- 9.3.1. Company overview
- 9.3.2. Key Executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Key strategic moves and developments
- 9.4. Alterra Energy
- 9.4.1. Company overview
- 9.4.2. Key Executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Key strategic moves and developments
- 9.5. Ensyn
- 9.5.1. Company overview
- 9.5.2. Key Executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.6. Plastic Advanced Recycling Corp.
- 9.6.1. Company overview
- 9.6.2. Key Executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.7. Quantafuel ASA
- 9.7.1. Company overview
- 9.7.2. Key Executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.7.6. Business performance
- 9.7.7. Key strategic moves and developments
- 9.8. Niutech
- 9.8.1. Company overview
- 9.8.2. Key Executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.9. OMV Aktiengesellschaft
- 9.9.1. Company overview
- 9.9.2. Key Executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.9.6. Business performance
- 9.9.7. Key strategic moves and developments
- 9.10. Agilyx
- 9.10.1. Company overview
- 9.10.2. Key Executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio
- 9.10.6. Business performance
- 9.10.7. Key strategic moves and developments