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Tire Pyrolysis Oil Market Trends

Report ID: GMI7470
Published Date: Nov 2023
Report Format: PDF

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Tire Pyrolysis Oil Market Trends

Environmental concerns: The rising environmental impact of tire waste disposal awareness is driving the demand for TPO as a sustainable alternative. TPO production helps divert tires from landfills, reducing pollution and conserving land resources.

Escalating fuel costs: The traditional fuels’, like petroleum-based oils, rising prices are making TPO a more cost-effective alternative for the consumers as well as manufacturers seeking affordable alternatives.

Versatility and adaptability: TPO's adaptability across various applications, including fuel for carbon black production, power generation, and chemical manufacturing, expands its market potential.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for tire pyrolysis oil was valued at USD 328 million in 2022 and is projected to reach over USD 553 million by 2032, driven by need for environmentally friendly solutions for tire waste disposal issuesand technological advancements.

The waste plastic segment was valued at USD 122 million in 2022 and is projected to witness substantial gains by 2032, driven by the increased availability of used tyre waste.

U.S. dominated the North America tire pyrolysis oil industry with a revenue of USD 80.5 Million in 2022 and is anticipated to expand at a significant pace from 2023-2032 driven by a robust regulatory framework, and incentives for technological advancements.

Alterra Energy, Bioenergy Ae Cote-Nord, Bridgestone Corporation, Ensyn, Green Fuel Nordic Oy, Mk Aromatics Limited are some of the major industry contenders.