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North America Plastic Waste Pyrolysis Oil Market Size

Report ID: GMI9054
Published Date: Apr 2024
Report Format: PDF

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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.

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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 Report Attributes
Report Attribute	Details
Base Year:	2023
North America Plastic Waste Pyrolysis Oil Market Size in 2023:	USD 120.8 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.8%
2032 Value Projection:	USD 183.6 Million
Historical Data for:	2021 - 2023
No. of Pages:	120
Tables, Charts & Figures:	100
Segments covered:	Feedstock, Process, End Use
Growth Drivers:	Favorable government initiatives Rapid urbanization and industrialization Increasing amount municipal solid waste (MSW)
Pitfalls & Challenges:	High capital and operational cost

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Authors: Ankit Gupta, Vinayak Shukla

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