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Plastic Waste Pyrolysis Oil Market Trends

Report ID: GMI5914
Published Date: Jun 2023
Report Format: PDF

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Plastic Waste Pyrolysis Oil Market Trends

In recent years, there has been a growing global concern about plastic pollution and the limited capacity of landfills to accommodate plastic waste. As a result, governments worldwide are shifting their focus towards accepting circular economy practices that prioritize recycling and reusing plastic waste. The plastic waste pyrolysis oil market development has been facilitated by sustainable improvements in business operations and the provision of effective customer service. Furthermore, the industry is driven by the global goal of achieving zero-waste generation, which involves diverting waste from landfills and increasing the deployment of pyrolysis plants worldwide.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of plastic waste pyrolysis oil exceeded USD 641.1 million in 2023 and is projected to grow at 5.3% CAGR during 2024 to 2032, backed by the government focus on adopting circular economy practices that prioritize recycling and reusing plastic waste, along with the global goal of achieving zero-waste generation.

The LDPE segment is projected to observer 4.5% growth till 2032, as the product is a versatile plastic material with desirable properties, including flexibility, durability, moisture resistance, and ease of processing.

The plastic waste pyrolysis oil sector in Asia Pacific will grow substantial from 2023 and 2032, due to a significant surge in plastic waste generation, driven by factors including population growth, urbanization, and changing consumption patterns.

Agilyx, Nexus Circular, OMV Aktiengesellschaft, Niutech Environment Technology Corporation, ETIA S.A.S., Chevron Phillips Chemical Company LLC, Agile Process Chemicals LLP, Klean Industries, AMMA Green Technology, and Ratan Pyrotech Industries among others.