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.
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 offers an unbiased analysis of the European rubber-derived pyrolysis crude market. It provides historical data from 2017 to 2021 and statistical forecasts for the period from 2022 to 2032. To understand the potential, growth, and scope of the global market, the market is segmented based on the production process, end-use, and country.
SABIC, Fortum Oyj, Twence B.V., Quantafuel AS, Kartepe Endüstriyel Geri Dönüşüm SAN. see TIC. A.Ş., Pyrum Innovations AG, Green Fuel Nordic Corporation Tasnee, and many others are some of the rubber-derived crude oil producers that are detailed in the full version of the report.
Key players invest significantly in the development of extraction technology of oil from various types of waste through the pyrolysis process.
Leading manufacturers enter the business because of significant market opportunities, investing to expand capacity, build manufacturing facilities, and partner with small and medium-sized businesses to capture untapped markets.