Pyrolysis Gas Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Pyrolysis Gas Market Analysis
The pyrolysis gas market is expected to grow at a CAGR of over 3% during the forecast period. Major factor driving the market studied is growing demand of pygas from benzene processing. On the flip side, Volatility in price of hydrocarbons and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- Increasing sale of automotive and growing utilization of pygas in motor fuels is forecasted to offer various opportunities for the growth of the market over the forecast period.
- Pyrolysis gas from benzene processing application is expected to dominate the market studied over the forecast period.
- Asia Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from regions such as China and India .
Pyrolysis Gas Market Trends
This section covers the major market trends shaping the Pyrolysis Gas Market according to our research experts:
Growing Demand of Pyrolysis Gas from Benzene Processing
- Pyrolysis Gasoline, a naphtha-range product with high aromatics content, is a by-product of ethylene production from ethane cracking.
- Pyrolysis gas containing a significant amount of carbon dioxide, along with methane, may be used as a fuel for industrial combustion.
- Pyrolysis gasoline can be blended with other hydrocarbons as a gasoline additive, or distilled in BTX process to separate it into its components, such as benzene.
- Increasing the number of petrochemical plants in the world is anticipated to supplement the growth of the benzene processing segment in coming years.
- Hence, owing to the above-mentioned factors, the application of pyrolysis gas from benzene processing is likely to dominate during the forecast period.
Asia Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for pyrolysis gas during the forecast period. The rising demand of pyrolysis gas from benzene processing and growing application as fuel in developing regions like China and India is expected to drive the demand for pyrolysis gas in this region.
- The largest producers of pyrolysis gas are located in Asia Pacific region. Some of the leading companies in the production of pyrolysis gas are ONGC Petro additions Limited, Shell, SABIC, Exxon Mobil Corporation and Haldia Petrochemicals Limited among others.
- China, the world's top crude oil importer, boosted its annual crude oil refining capacity by 3.4% in 2019 to 860 million tonnes, equal to 17.2 million barrels per day according to Chemical Industry Federation (CPCIF).
- India's oil refining capacity amounted to 249 MMTPA (Million Metric Tonne Per Annum) in 2018-19 ranking India as the fourth largest in the world with some of the largest refineries located in the country.
- Owing to the above-mentioned factors, the market for pyrolysis gas in the Asia-Pacific region is projected to grow significantly during the study period.
Pyrolysis Gas Industry Overview
The global pyrolysis gas market is partially consolidated in nature with only few major players dominating the market. Some of the major companies are ONGC Petro additions Limited, Shell, SABIC, Exxon Mobil Corporation and Haldia Petrochemicals Limited among others.
Pyrolysis Gas Market Leaders
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ONGC Petro additions Limited
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Shell
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Haldia Petrochemicals Limited
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SABIC
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Exxon Mobil Corporation
*Disclaimer: Major Players sorted in no particular order
Pyrolysis Gas Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Growing Demand of Pyrolysis Gas from Benzene Processing
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4.1.2 Other Drivers
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4.2 Restraints
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4.2.1 Volatility in Price of Hydrocarbons
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4.2.2 Other Restraints
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4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Type
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5.1.1 Raw Pyrolysis Gasoline
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5.1.2 Hydrogenated Pyrolysis Gasoline
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5.2 Application
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5.2.1 Benzene Processing
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5.2.2 Aromatic Extraction
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5.2.3 Feedstock of BTX Plant
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5.2.4 Motor Fuels
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5.2.5 Others
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 France
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5.3.3.4 Italy
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5.3.3.5 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle-East and Africa
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5.3.5.1 Saudi Arabia
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5.3.5.2 South Africa
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5.3.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share/Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 KOYO KAIUN Co., Ltd
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6.4.2 Axens
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6.4.3 Chevron Phillips Chemical Company
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6.4.4 Dow
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6.4.5 Exxon Mobil Corporation
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6.4.6 Haldia Petrochemicals Limited
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6.4.7 HIP-Petrohemija
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6.4.8 Jam Petrochemical Company
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6.4.9 ONGC Petro additions Limited
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6.4.10 Ras Laffan Olefins Company Limited
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6.4.11 SABIC
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6.4.12 Shell
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6.4.13 Sud Chemie India Pvt Ltd
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Increasing Sale of Automotive and Growing Utilization of Pygas in Motor Fuels
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7.2 Other Opportunities
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Pyrolysis Gas Industry Segmentation
The pyrolysis gas market report includes:
| Type | |
| Raw Pyrolysis Gasoline | |
| Hydrogenated Pyrolysis Gasoline |
| Application | |
| Benzene Processing | |
| Aromatic Extraction | |
| Feedstock of BTX Plant | |
| Motor Fuels | |
| Others |
| Geography | |||||||
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Pyrolysis Gas Market Research FAQs
What is the current Pyrolysis Gas Market size?
The Pyrolysis Gas Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Pyrolysis Gas Market?
ONGC Petro additions Limited, Shell, Haldia Petrochemicals Limited, SABIC and Exxon Mobil Corporation are the major companies operating in the Pyrolysis Gas Market.
Which is the fastest growing region in Pyrolysis Gas Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Pyrolysis Gas Market?
In 2024, the Asia Pacific accounts for the largest market share in Pyrolysis Gas Market.
What years does this Pyrolysis Gas Market cover?
The report covers the Pyrolysis Gas Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Pyrolysis Gas Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Pyrolysis Gas Industry Report
Statistics for the 2024 Pyrolysis Gas market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Pyrolysis Gas analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
