According to Future Market Insights (FMI) forecasts, the demand for Europe Rubber Derived Unrefined Pyrolysis Oil market is expected to show a CAGR of 5.5%. Increased government initiatives to reduce the use of crude oil products to reduce carbon footprint are expected to drive the market.
Additionally, increased investment in the waste management system, including waste conversion, is expected, such as converting tires into hydrocarbon-based products, to boost demand for crude rubber-derived pyrolysis oil.
From waste tires, which accumulate significantly in landfills, key players see significant opportunities to convert used tires into oil through the pyrolysis process. Several market participants are therefore making investments, supported by government subsidies and incentives for oil production from waste materials, to minimize waste.
SABIC, Fortum Oyj, Twence B.V., Green Fuel Nordic Corporation, Quantafuel AS, Kartepe Industrial Recycling SAN. , and TIC. R.Ş., Pyrum Innovations AG, Tan, ee, and many others are some of the rubber-derived crude oil producers featured in the full version of the report.
Key players are investing a significant amount to develop a Technology for obtaining oil from various types of waste using the pyrolysis process. Major manufacturers enter the business due to significant market opportunities, investing in expanding capacity, establishing manufacturing facilities, and working with small and medium-sized companies to capture untapped markets.
Rubber Derived Unrefined Pyrolysis Oil Market Segmentation
By Production Process:
- Slow Pyrolysis
- Fast Pyrolysis
- Flash Pyrolysis
By End Use:
- Heat & Power
- Gas Turbine
- Diesel Engines
- Automotive Fuels
Read more about the Rubber-derived Pyrolysis Crude Oil Market Report
In its latest report, FMI provides an unbiased analysis of the European rubber-derived pyrolysis crude market. It provides historical data from 2017 to 2021 and forecast statistics for the period from 2022 to 2032. To understand the potential, growth, and scope of the world market, the market is divided based on production process, end-use, and country.