Heavy Pyrolysis Resin Market Outlook 2030
Heavy pyrolysis resin is a flammable viscous liquid produced primarily in ethylene plants as a byproduct during pyrolysis of mixed gasoline or gasoline and gas feedstock such as diesel, petrol, and hydrocarbon gases. It contains polycyclic aromatic hydrocarbons and aromatic hydrocarbons. Heavy pyrolysis resin is widely used in the production of carbon black, dark petroleum resins, concrete super plasticizing agents, fuel oil, inactive carbon black, paints & varnishes, and coke.
COVID-19 Impact analysis
- Problems associated with the storage and transportation of pyrolysis oil and unfavorable conditions arising due to the COVID-19 outbreak are the significant restraints expected to hinder the growth of the market.
- With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through respond, recover and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis and toward the Next Normal.
Top Impacting Factors
Processing of heavy pyrolysis resin does not need complicated technical solutions and high-priced technological operations such as purification of resin, reprocessing from sulfur, nitrogen, and oxygen comprising compounds. Increase in application of heavy pyrolysis resin in numerous end-user industries such as oil & gas, construction, and automotive is driving the global heavy pyrolysis resin market. Heavy pyrolysis resin has high content of aromatic and unsaturated hydrocarbons. Hence, it is extensively used as a fuel oil component. Accumulation of heavy pyrolysis resin may pose serious threat to the environment. This is likely to refrain the market during the forecast period. Rise in research activities to increase the formulation of heavy pyrolysis resin is projected to provide interesting opportunities to manufacturers operating in the market
- Pyrolysis oil is a synthetic fuel that is produced as a substitute for petroleum. It is also known as bio crude or bio-oil.
- The ever-increasing usage of pyrolysis oil to give heat by direct combustion in a boiler or furnace is expected to rise the demand for pyrolysis oil and stimulate its market during the forecast period.
- The application of pyrolysis oil in the boiler is expected to grow during the forecast period as the usage of pyrolysis oil can reduce carbon emissions by 90%. As a result, it can replace natural gas and heavy and light fuel oils, thus increasing the demand for pyrolysis oil.
- In addition, the usage of pyrolysis oil in gas turbines and diesel engines to generate heat and power is expected to provide profitable opportunities for the growth of the pyrolysis oil market during the forecast period.
- The industrial boilers market is expected to witness a CAGR of above 5% during the forecast period. Due to this, the demand for pyrolysis oil is projected to rise, which will stimulate its market during the forecast period.
- Pyrolysis oil carries a large number of different components that are applied to derive new products. Pyrolysis oil can be divided into product streams like pyrolytic lignin, pyrolytic sugars, and watery phase containing smaller organic compounds.
Key Benefits of the Report
- This study presents the analytical depiction of the Heavy Pyrolysis Resin industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Heavy Pyrolysis Resin market share.
- The current market is quantitatively analyzed to highlight the Heavy Pyrolysis Resin market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Heavy Pyrolysis Resin market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Heavy Pyrolysis Resin Report
- Who are the leading market players active in the Heavy Pyrolysis Resin market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Heavy Pyrolysis Resin Market Report Highlights
Key Market Players
Formosa Plastics Corporation, Röchling Group, Ingevity Corporation, Chevron Phillips Chemical Company, Bluewater Bio, Nisshinbo Holdings Inc., Eastman Chemical Company, Nexeo Solutions, Kuraray Co., Ltd., Trinseo