North America 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

North America Plastic Waste Pyrolysis Oil Market Size

North America Plastic Waste Pyrolysis Oil Market Size in 2023 was valued at USD 120.8 million and is anticipated to grow at a CAGR of 4.8% between 2024 and 2032. The production of pyrolysis oil provides an avenue for effective waste management by converting plastic waste materials into valuable energy products. This process holds the potential to diminish landfill waste and alleviate environmental contamination stemming from improper waste disposal practices. The increasing demand for pyrolysis oil is driven by the growing imperative for alternative and sustainable energy solutions.
 

Governments across the region have instituted supportive policies and incentives to encourage the adoption of renewable energy sources. Additionally, collaborative efforts among stakeholders, such as technology suppliers, waste management firms, and energy producers, are vital for fostering growth within the market for pyrolysis oil derived from plastic waste. For instance, in February 2023, Nexas Circular has partnered with LyondellBasell to introduce a significant long-term agreement for 24,000 tons of recycled feedstock annually. This will originate from Nexus Circular's upcoming recycling facility, scheduled to commence construction in 2023.
 

North America Plastic Waste Pyrolysis Oil Market Trends

In recent years, mounting worries about plastic pollution and the dwindling availability of landfill sites have become prominent. Governments across the region are prioritizing circular economy strategies aimed at fostering the recycling and repurposing of plastic waste. Pyrolysis technology emerges as a practical solution by transforming plastic waste into valuable commodities such as fuel oil, gas, and carbon black, thus completing the loop in the plastic waste management process. The increasing enforcement of rigorous regulations and policies to address plastic waste and encourage sustainable waste management approaches is driving the growth of the market for pyrolysis oil derived from plastic waste across North America.
 

North America Plastic Waste Pyrolysis Oil Market Analysis

Based on feedstock, the market is segmented as LDPE, polypropylene (PP), HDPE, and others. High-Density Polyethylene segment is anticipated to reach over 15 million by 2032. Pyrolyzing HDPE plastic waste plays a pivotal role in plastic waste management and fosters the principles of the circular economy. As the production of plastic waste across North America region, including HDPE, rises steadily due to factors such as population expansion, urbanization, and evolving consumption patterns, there is a pressing need for effective waste management solutions like pyrolysis.

North America plastic waste pyrolysis oil market is categorized into fuel, heat & power, chemicals, and others. The fuel application is set to grow at a CAGR of more than 5.9% through 2032. As the production of plastic waste continues to escalate across the region, concerns about environmental pollution and resource depletion are on the rise. However, this surge in plastic waste also presents an opportunity for its transformation into valuable fuel sources. Pyrolysis, a process involving thermal decomposition, aims to maximize the production of valuable fuels such as diesel, gasoline, and synthetic crude oil from diverse types of plastic waste.

U.S. is set to exceed a value of over USD 130 million by 2032. Various tax incentive measures implemented by the U.S. government aim to promote investments in energy efficiency among businesses and consumers. These measures encompass deductions or credits on state income tax and the exemption of state sales taxes on eligible products. According to the International Energy Agency, Oregon's state initiatives are projected to yield significant positive outcomes in terms of natural gas and electricity savings. Furthermore, The implementation of sustainable improvements in business operations, combined with the delivery of efficient customer service, has created a conducive environment for business expansion.

North America Plastic Waste Pyrolysis Oil Market Share

In the North America market, OMV Aktiengesellschaft, Agilyx, and Klean Industries stand out as key players, offering a comprehensive range of products and services tailored to various application requirements. Their commitment to innovation guarantees the development of top-notch, state-of-the-art products compliant with industry benchmarks. By prioritizing personalized solutions and outstanding customer service, they solidify their foothold in the market while ensuring maximum customer satisfaction.
 

North America Plastic Waste Pyrolysis Oil Market Companies

Major players in market are:

• 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
   

North America Plastic Waste Pyrolysis Oil Industry News

• In February 2023, Chevron Phillips has launched circular polyethylene programs targeted at commercial outlets, teaming up with Charter Next Generation, a leading North American manufacturer of sustainable films for flexible packaging and other markets. Through its existing advanced recycling initiative, the company produces Marlex Anew circular polyethylene.
   
• In November 2022, OMV Aktiengesellschaft has entered into a partnership agreement with Wood, a renowned global provider of engineering & consulting solutions in the energy and materials sectors. The collaboration focuses on the commercial licensing of OMV's proprietary ReOil technology. ReOil, developed by OMV, is a patented recycling technology that transforms totally used plastic waste into a valuable resource known as pyrolysis oil.
   

North America plastic waste pyrolysis oil market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Feedstock

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

Market, By Process

• Fast
• Flash
• Slow

Market, By End Use

• Fuel
• Chemicals
• Heat & Power
• Others

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

• U.S.
• Canada