Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Pyrolysis oil is also known as bio-crude or bio-oil. It is a synthetic fuel which is used as a substitute for petroleum. It is obtained by heating dried biomass without oxygen in a reactor at a temperature of about 500 °C with subsequent cooling. Pyrolysis oil is a kind of tar and normally contains levels of oxygen too high to be considered a pure hydrocarbon. This high oxygen content results in non-volatility, corrosiveness, immiscibility with fossil fuels, thermal instability, and a tendency to polymerize when exposed to air. As such, it is distinctly different from petroleum products. Removing oxygen from bio-oil or nitrogen from algal bio-oil is known as upgrading.
Pyrolysis oil is a synthetic fuel which is manufactured as a substitute for petroleum. The various applications of the pyrolysis oil are fuel, chemicals, heat, power, etc. The increasing demand for generating power and energy is driving the market for pyrolysis oil. Also, the pyrolysis oil is used in gas turbines and diesel engines to generate heat and power which is likely to provide lucrative opportunities for the growth of the pyrolysis oil market during the forecastperiod. Also, the growing popularity as an alternative for petroleum is adding fuel to the market growth. Tire pyrolysis oil has emerged as an ideal alternative fuel for diesel engines due to which the demand for pyrolysis oil has witnessed a growth. Moreover, the low emission levels of pyrolysis oil in comparison with conventional fuel alternative is anticipated to increase the demand for pyrolysis oil over the forecast period. However, problems associated with the storage and transportation of pyrolysis oil and unfavorable conditions aroused due to the COVID-19 outbreak are thought to hinder the market growth.
The outbreak of COVID 19 has impacted many market including the pyrolysis oil market. The demand for pyrolysis oil was decreased due to the shutdown of many end use industries. Also, the transportation restriction affected the supply chain. There was challenge in storage of the oil during the covid period. Also, the trade war between the China and U.S affected the market in a negative way. Overall there was a negative impact on the global pyrolysis market.
Asia Pacific, the pyrolysis oil market is segmented based upon the raw material type and applications.
Based on the raw material type, the market for pyrolysis oil is bifurcated into waste plastic, waste tire, waste rubber, oil sludge. The waste tire segment dominates as more of the pyrolysis oil derived by it. However, waste plastic is anticipated to grow during the forecast period.
Based on application, the market is segmented into fuels, chemical, heat and power. Among these, heat and power dominates the segment. Owing to increase usage in boilers, gas turbines and diesel engines.
The various regions studied across the Asia pacific are China, Japan, Australia and India Among these, the China region dominates owing to the increasing consumption by different end use industries followed by India. Also, the expansion of different industries and availaibilty of raw material is adding fuel to the market
The various key players in the market are Chevron Phillips Chemical Company, Biogreen (ETIA Group),BTG Biomass Technology Group, Divya International, Ecomation Oy, Kingtiger (Shanghai) Environmental Technology Co. Ltd, Klean Fuels (Klean Industries Inc.), Pyro-Oil Nig. Ltd, Recor, Trident Fuels Pty Ltd.
Pyrolysis oil is also known as bio-crude or bio-oil. It is a synthetic fuel which is used as a substitute for petroleum. It is obtained by heating dried biomass without oxygen in a reactor at a temperature of about 500 °C with subsequent cooling. Pyrolysis oil is a kind of tar and normally contains levels of oxygen too high to be considered a pure hydrocarbon. This high oxygen content results in non-volatility, corrosiveness, immiscibility with fossil fuels, thermal instability, and a tendency to polymerize when exposed to air. Pyrolysis oil is a synthetic fuel which is manufactured as a substitute for petroleum. The various applications of the pyrolysis oil are fuel, chemicals, heat, power, etc. The increasing demand for generating power and energy is driving the market for pyrolysis oil. Also, the pyrolysis oil is used in gas turbines and diesel engines to generate heat and power which is likely to provide lucrative opportunities for the growth of the pyrolysis oil market during the forecastperiod. Also, the growing popularity as an alternative for petroleum is adding fuel to the market growth. Tire pyrolysis oil has emerged as an ideal alternative fuel for diesel engines due to which the demand for pyrolysis oil has witnessed a growth. Based on the raw material type, the market for pyrolysis oil is bifurcated into waste plastic, waste tire, waste rubber, oil sludge. The waste tire segment dominates as more of the pyrolysis oil derived by it. Based on application, the market is segmented into fuels, chemical, heat and power. Among these, heat and power dominates the segment
The various key players in the market are Chevron Phillips Chemical Company, Biogreen (ETIA Group),BTG Biomass Technology Group, Divya International,Ecomation Oy, Kingtiger (Shanghai) Environmental Technology Co. Ltd, Klean Fuels (Klean Industries Inc.), Pyro-Oil Nig. Ltd, Recor, Trident Fuels Pty Ltd.
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