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Pyrolysis Gas Market Size (2024 - 2029)

The pyrolysis gas market is anticipated to experience growth driven by the increasing demand for pygas in benzene processing, despite challenges such as hydrocarbon price volatility and the impact of the COVID-19 pandemic. The market's expansion is supported by opportunities arising from the rising sales of automotive and the growing use of pygas in motor fuels. The Asia Pacific region, particularly China and India, is expected to lead in market size and growth rate during the forecast period, with the benzene processing application projected to dominate the market.

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Market Size of Pyrolysis Gas Industry

Market Overview- Global Pyrolysis Gas Market
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

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*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 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
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Pyrolysis Gas Market Size Summary

The pyrolysis gas market is poised for growth, driven primarily by the increasing demand for pyrolysis gas from benzene processing applications. This demand is further bolstered by the rising sale of automobiles and the growing use of pyrolysis gas in motor fuels, which presents numerous opportunities for market expansion. However, the market faces challenges such as the volatility in hydrocarbon prices and the lingering effects of the COVID-19 pandemic, which have somewhat impeded its growth trajectory. The Asia-Pacific region is anticipated to lead the market, both in terms of size and growth rate, due to heightened consumption in countries like China and India. The region's dominance is supported by the presence of major pyrolysis gas producers and the expansion of petrochemical plants, which are expected to enhance the benzene processing segment.

Pyrolysis gas, a by-product of ethylene production from ethane cracking, is characterized by its high aromatics content and significant carbon dioxide and methane components. It serves various industrial applications, including as a fuel for industrial combustion and as a gasoline additive. The market is partially consolidated, with a few key players such as ONGC Petro additions Limited, Shell, SABIC, Exxon Mobil Corporation, and Haldia Petrochemicals Limited leading the industry. The strategic positioning of these companies in the Asia-Pacific region, coupled with the region's robust refining capacities, underscores the potential for significant market growth during the forecast period.

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Pyrolysis Gas Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand of Pyrolysis Gas from Benzene Processing

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Volatility in Price of Hydrocarbons

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Raw Pyrolysis Gasoline

      2. 2.1.2 Hydrogenated Pyrolysis Gasoline

    2. 2.2 Application

      1. 2.2.1 Benzene Processing

      2. 2.2.2 Aromatic Extraction

      3. 2.2.3 Feedstock of BTX Plant

      4. 2.2.4 Motor Fuels

      5. 2.2.5 Others

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Pyrolysis Gas Market Size FAQs

The Pyrolysis Gas Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

ONGC Petro additions Limited, Shell, Haldia Petrochemicals Limited, SABIC and Exxon Mobil Corporation are the major companies operating in the Pyrolysis Gas Market.

Pyrolysis Gas Market Report Snapshots

Pyrolysis Gas Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)