Europe Plastic Waste Pyrolysis Oil Market - By Feedstock (LDPE, HDPE, Polypropylene (PP)), By Process (Fast, Flash, Slow), By End Use (Fuel, Chemicals, Heat & Power) & Forecast, 2024 - 2032

Europe Plastic Waste Pyrolysis Oil Market Size

Europe Plastic Waste Pyrolysis Oil Market was valued at USD 270.2 million in 2023 and is anticipated to grow at a CAGR of 4.6% between 2024 and 2032.
 

The demand for pyrolysis oil has been consistently increasing, driven by the growing requirement for alternative and sustainable energy solutions. Pyrolysis oil presents a promising avenue for mitigating greenhouse gas emissions and reducing reliance on traditional fossil fuels. Governments worldwide have introduced supportive measures and incentives to encourage the utilization of renewable energy sources. These initiatives, which encompass renewable energy goals, carbon pricing strategies, and feed-in tariffs, have played a pivotal role in fostering the acceptance of pyrolysis oil and other biofuels.
 

Europe Plastic Waste Pyrolysis Oil Market Trends

Europe has enforced stringent environmental regulations and objectives aimed at combating plastic waste pollution and fostering a circular economy. Through initiatives like the European Union's Waste Framework Directive, Plastics Strategy, and Single-Use Plastics Directive, targets have been established for reducing plastic waste, enhancing recycling efforts, and promoting resource recovery. These regulatory measures create a conducive environment for the advancement of plastic waste pyrolysis as a viable waste management solution. There's a growing demand in Europe for sustainable waste management approaches, and plastic waste pyrolysis presents an eco-friendly alternative to landfilling or incineration by facilitating the conversion of plastic waste into valuable products.
 

Europe Plastic Waste Pyrolysis Oil Market Analysis

Based on feedstock, the market is segmented as HDPE, LDPE, polypropylene (PP), and others. The HDPE segment is set to exceed 50.5 million by 2032. The process of pyrolyzing High-Density Polyethylene (HDPE) plastic waste is a significant element of plastic waste management and contributes to the circular economy. With the global production of plastic waste, including HDPE, continually increasing due to factors such as population growth, urbanization, and evolving consumption habits, there is an urgent requirement for efficient waste management solutions like pyrolysis. These solutions are crucial in addressing the environmental ramifications of plastic waste.
 

Europe plastic waste pyrolysis oil market is categorized into chemicals, fuel, heat & power, and others. Amongst them, the fuel application is anticipated to register a CAGR of 3.5% through 2032. With the ongoing increase in global plastic waste production, there is a rising apprehension about environmental pollution and resource depletion. Nevertheless, this surge in plastic waste also offers an opportunity for its conversion into valuable fuel sources. Pyrolysis, characterized by thermal decomposition, seeks to optimize the production of valuable fuels like diesel, gasoline, and synthetic crude oil from various types of plastic waste. Moreover, the fuel derived from plastic waste via pyrolysis can act as a substitute for traditional fossil fuels.
 

Germany is anticipated to surpass USD 85 million by 2032. Germany has stringent regulations and policies aimed at reducing plastic waste and promoting recycling. These policies create a conducive environment for the development of the plastic waste pyrolysis oil market by encouraging investment in waste-to-energy technologies. With increasing concerns about climate change and the need to reduce greenhouse gas emissions, there is a growing demand for renewable energy sources. Pyrolysis oil derived from plastic waste offers a sustainable alternative to traditional fossil fuels, aligning with Germany's renewable energy goals.
 

Europe Plastic Waste Pyrolysis Oil Market Share

 Agilyx, OMV Aktiengesellschaft, and Klean Industries are prominent players in this sector, offering a wide array of products and services to meet diverse application needs. Their dedication to innovation ensures the creation of high-quality, cutting-edge products that meet industry standards. Their emphasis on providing customized solutions and excellent service to ensure customer satisfaction reinforces their position in the market.
 

Europe Plastic Waste Pyrolysis Oil Market Companies

• Agile Process Chemicals LLP
• Agilyx
• AMMA GREEN TECHNOLOGY
• Chevron Phillips Chemical Company LLC.
• Ecomation Oy
• ETIA S.A.S.
• Kingtiger (Shanghai) Environmental Technology Co., Ltd.
• Klean Industries
• Nexus Circular
• Niutech Environment Technology Corporation
• OMV Aktiengesellschaft
• Recor
   

Europe Plastic Waste Pyrolysis Oil Industry News

• In February 2023, Nexas Circular has unveiled a substantial long-term agreement with LyondellBasell for the provision of 24,000 tons of recycled feedstock annually. This feedstock will be generated at Nexas Circular's forthcoming state-of-the-art recycling facility, set to commence construction in 2023. The advanced facility aims to transform mixed plastic waste into valuable recycled feedstock.
   
• In August 2022, Agilyx's subsidiary, Cyclyx, has collaborated with Virgin Red to introduce incentives and rewards for plastic recycling. This partnership aims to encourage behavioral shifts in plastic recycling practices by providing Virgin Points as rewards for participating in Cyclyx's 10 to 90 programs. These initiatives are designed to combat plastic pollution and support the global shift towards achieving net zero emissions.
   

Europe plastic waste pyrolysis oil market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2019 to 2032, for the following segments:

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Market, By Feedstock

• Low Density Polyethylene (LDPE)
• High Density Polyethylene (HDPE)
• Polypropylene (PP)
• Others

Market, By Process

• Fast
• Flash
• Slow

Market, By Application

• Fuel
• Chemicals
• Heat & Power
• Others

The above information has been provided for the following countries across the regions:

• Germany
• France
• Netherlands
• Italy
• UK
• Spain