Tyre pyrolysis oil market price is increasingly gaining favor due to the rising international crude oil prices. As traditional fuel costs have also increased, tyre pyrolysis oil emerges as a relatively lower-priced alternative. This fuel is derived from waste tires through pyrolysis technology. Compared to traditional petroleum fuels, it possesses lower production costs, reduces reliance on finite resources, and contributes to waste tyre recycling and environmental protection. With the growing demand for alternative fuels, the advantage of tyre pyrolysis oil price has attracted more attention and adoption.
How Much Is Tyre Pyrolysis Oil Price?
Tire pyrolysis oil price is influenced by factors such as pyrolysis oil quality, market demand, geographical location, the specific supplier, pyrolysis plant investment cost. Currently, take the Indian-made tyre pyrolysis oil specifications as an example, the price typically ranges between $0.455 and $0.78 per liter (just for reference). The specific price level depends mainly on the quality of the oil. Generally, tyre pyrolysis oil with higher purity and calorific value may command slightly higher prices. Overall, despite fluctuations in specific tyre oil price, compared to conventional crude oil, tyre pyrolysis oil is quite affordable. Many investors are bullish on the investment.
| Product | Color | Odor | Form Type | Purity | Packaging Type | Application | Price |
| Tyre Pyrolysis Oil | Black | Slight Petroleum | Liquid | 90%-99% | Barrel/Bottle | Industrial | $0.455 – 0.78 /Liter |
Tyre Pyrolysis Market Value Overview
Pyrolysis Oil Market Value
In 2021, the pyrolysis oil market exceeded $3.1 billion and is expected to continue growing, reaching an estimated $4.53 billion by 2030. During this forecast period (2023-2030), a compound annual growth rate of 4.3% is anticipated. Although the above data covers a range of raw materials including plastics, rubber (tires), and oil sludge, the overarching trend still indicates significant tire pyrolysis oil market has great potential.
Tyre Pyrolysis Plant Market Value
Global tyre pyrolysis plant market size was USD 91.1 million in 2022 and the market is projected to touch 270.84 Million by 2031, exhibiting a CAGR of 12.87% during the forecast period. This notable growth reflects more and more people will recognize the potential of tyre pyrolysis oil as an eco-friendly alternative to conventional fossil fuels, thereby propelling the construction of relevant pyrolysis factories.
Key Drivers for Rising Demand for Tire Pyrolysis Oil Market
Tire pyrolysis oil production provides an eco-friendly solution to the problem of tire waste disposal, reducing the burden and pollution of landfills. The tyre pyrolysis oil market is expected to experience significant growth in the future. Driving factors include:
- Rising energy costs: With the continuous increase in energy prices, businesses are seeking cost-effective energy alternatives. Tire pyrolysis oil price stands out as an attractive option.
- Growing environmental awareness: Enhanced global environmental consciousness is driving the demand for sustainable and eco-friendly alternative fuels. Tire pyrolysis oil, derived from waste tires, is regarded as a more environmentally friendly and sustainable solution, thus fueling industry expansion.
- Advancements in technology: Ongoing innovation in tire pyrolysis processes and technologies enhances efficiency, yield, and oil quality, making it increasingly viable for various fuel applications.
- Policy incentives: Many governments worldwide have enacted laws to reduce carbon emissions and promote the use of renewable and alternative fuels. Incentives such as tax breaks and subsidies for tire pyrolysis oil production and usage are propelling market growth.
- Diversified fuel applications: Tyre pyrolysis oil uses include heating, power generation, and as a raw material for chemical processes. Moreover, further refining and distillation yield clean non-standard diesel, with growing demand in these industries also driving market expansion.
Market Forecast for Tire Pyrolysis Oil Industry
By region
- North America (mainly the United States) is expected to continue holding the largest share of the global tire pyrolysis oil market. As one of the most industrialized nations, the U.S. generates a significant volume of waste tires annually awaiting disposal. Many companies utilize this resource to establish pyrolysis plants and obtain tire pyrolysis oil. This practice is further supported by a robust regulatory framework and an increasing awareness of the necessity to reduce carbon emissions. Moreover, ongoing research and development efforts in relevant technologies contribute to the anticipated growth of the tire pyrolysis oil market in the United States.
- Europe’s increasing emphasis on sustainable development and environmental protection is anticipated to drive market demand for tire pyrolysis oil in this region, contributing to its growth.
- In Japan, government regulations and incentives aimed at promoting environmental practices and reducing carbon emissions, are projected to boost the adoption of tire pyrolysis oil. Moreover, partnership and collaboration among government agencies, industry players, and research institutions is also a driving factor.
- Stricter regulations on tire disposal and the trend toward clean energy in China and India are expected to drive market growth.
By technology
Slow pyrolysis is projected to maintain its leading position in the tire pyrolysis oil market from 2023 to 2033. This dominance is mainly attributed to the fact that slow pyrolysis generally produces a higher yield of pyrolysis oil compared to other processes, such as fast pyrolysis. Furthermore, the slower heating rates inherent in slow pyrolysis enable better process control, leading to reduced emissions of pollutants and a more consistently high-quality final product.
By end application
The heat and power sector is projected to maintain its leading position in the tyre oil uses industry. This is chiefly attributed to extensive backing from governments and regulatory bodies globally. They advocate for alternative fuels to mitigate greenhouse gas emissions and combat climate change. In certain regions, enterprises adopting tire pyrolysis oil as a clean energy source could be eligible for incentives, tax benefits, or subsidies. Such support significantly fosters the application of tire pyrolysis oil in heating and power supply.
How to Get Tyre Pyrolyis Oil?
Investing in high-quality tyre pyrolysis equipment, such as Beston Group’s tyre pyrolysis plant, ensures safe, efficient, and eco-friendly pyrolysis oil production. With batch, semi-continuous, and fully continuous plant options, businesses can cater to diverse market needs and expand their operations globally. With the produced high quality pyrolysis oil for sale, investors can get economic benefits from tyre pyrolysis oil price. With our plastic to oil machine, you can also achieve plastic to oil conversion. Welcome your inquiry!
