Tire Pyrolysis Oil Market Size
Market Outlook:
Tire Pyrolysis Oil Market was over USD 348.02 Million in 2023 and is expected to exceed USD 563.48 Million by end of the year 2032, observing around 5.5% CAGR between 2024 and 2032.
Base Year Value (2023)
USD 348.02 Million
19-23
x.x %
24-32
x.x %
CAGR (2024-2032)
5.5%
19-23
x.x %
24-32
x.x %
Forecast Year Value (2032)
USD 563.48 Million
19-23
x.x %
24-32
x.x %
Historical Data Period
2019-2023
Largest Region
North America
Forecast Period
2024-2032
Get more details on this report -
Market Dynamics:
Growth Drivers & Opportunity:1. Increasing global demand for sustainable fuel sources due to rising environmental concerns and government regulations promoting the use of renewable energy sources.
2. Growing awareness about the benefits of tire pyrolysis oil, such as reduced carbon emissions and lower production costs compared to conventional fuels.
3. Technological advancements in tire pyrolysis processes leading to higher efficiency and improved quality of the end product.
Industry
Report Scope
| Report Coverage | Details |
|---|---|
| Segments Covered | Raw Material, Process, End-Use |
| Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
| Company Profiled | Alterra Energy, Bioenergy Ae Cote-Nord, Bridgestone, Ensyn, Green Fuel Nordic Oy, Mk Aromatics Limited, New Energy Kft., New Hope Energy, Nexus Circular, Plastic Advanced Recycling Corp., Plastic Energy, Pyrocell (setra), Quantafuel ASA, Shenyang Dongxing Chemical Industry Co.,, Shenyang East-West Renewable Energy Equipment Co.,, Trident Fuels Pty |
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1. High initial investment costs required for setting up tire pyrolysis plants and infrastructure, which may deter potential investors.
2. Lack of proper waste tire management systems and regulatory framework in some regions, leading to limited availability of feedstock for tire pyrolysis oil production.
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