Pyrolysis Oil Price Trend and Forecast
Get the latest insights on price movement and trend analysis of Pyrolysis Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Pyrolysis Oil Price Trend for the First Half of 2024
Product | Category | Region | Price | Time Period |
Pyrolysis Oil | Chemicals | Netherland | 787 USD/MT | January’24 |
Pyrolysis Oil | Chemicals | Netherland | 730 USD/MT | May’24 |
Stay updated with the latest Pyrolysis Oil prices, historical data, and tailored regional analysis
Asia
In the Asian market, pyrolysis oil prices exhibited significant fluctuations throughout the first half of 2024. Pyrolysis oil, derived from the thermal decomposition of organic materials such as plastic waste and biomass, is heavily influenced by the prices of crude oil, as it serves as a key alternative in the petrochemical and energy sectors. In the first quarter, prices showed a steady rise, particularly in major markets like India and China, driven by increasing crude oil prices. However, as the petrochemical sector faced a downturn in early Q2, pyrolysis oil prices followed suit, experiencing a decline.
Pyrolysis Oil Price Chart
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By mid-Q2, the market began to stabilize as crude oil prices normalized, leading to a recovery in the pyrolysis oil market. The second quarter ended on a more positive note, with market conditions stabilizing and demand recovering in both upstream and downstream sectors. Overall, the first half of 2024 saw price fluctuations for pyrolysis oil in Asia, reflecting the broader volatility in the crude oil and petrochemical markets.
Europe
In the European market, pyrolysis oil prices experienced notable oscillations throughout the first half of 2024. In the first quarter, the market saw moderate growth driven by rising crude oil prices. However, as crude oil markets stabilized in the second quarter, the demand outlook became the key factor influencing pyrolysis oil prices. Despite supportive inventories, demand remained steady but unimpressive, leading to a generally subdued market performance.
Throughout H1’24, price drivers for pyrolysis oil pushed in both directions, resulting in a largely balanced but restrained market. The European pyrolysis oil market reflected this cautious sentiment, lacking any major momentum or enthusiasm as it navigated the broader energy dynamics. The monthly average prices in the Netherlands stood at about 787 USD/MT in January’24 and dropped to around 730 USD/MT by May’24. Overall, mixed market sentiments were observed.
North America
In the American market, pyrolysis oil prices followed a similar pattern to those seen in Asia and Europe throughout the first half of 2024. In the first quarter, there was a slight upward trend, largely driven by stable demand from the chemical and energy sectors, which utilize pyrolysis oil as a sustainable alternative to traditional fossil fuels. However, the second quarter saw a dip in momentum, with market sentiment remaining generally subdued. Despite consistent operations in key industries and a steady balance between supply and demand, there was little movement in prices, keeping the market relatively flat.
Analyst Insight
According to Procurement Resource, the Pyrolysis Oil prices are expected to improve going forward since the current market supply and demand equation suggests a rise in prices moving ahead.
Pyrolysis Oil Price Trend for the Second Half of 2023
Product | Category | Region | Price | Time Period |
Pyrolysis Oil | Chemicals | Netherland | 900 USD/MT | July’23 |
Pyrolysis Oil | Chemicals | Netherland | 786 USD/MT | December’23 |
Stay updated with the latest Pyrolysis Oil prices, historical data, and tailored regional analysis
Asia
The price trend for pyrolysis oil was observed to be vacillating throughout the second half of the year 2023. Pyrolysis oil prices are completely dependent on the availability of the combustible waste material, as the thermolysis of these waste materials at higher temperatures, like 400- 600 degrees, yields pyrolysis oil.
The resultant viscous liquid can be used as fuel after some refining or as soil conditioners, depending on the constituents and waste materials involved. During the first half of the said period, the fuel and oil prices were already surging in the international market as OPEC+ limited their commercial outputs. So, the pyrolysis oil prices, too, experienced an initial incline; however, as the inventories started bulking up with continuous supplies, the price trend again turned downwards. Overall, a hybrid price trajectory was witnessed in H2’23.
Europe
During the second half of the year 2023, a supply outage was seen in the global market, which forced suppliers to cut down the prices in order to maintain the stock movement. In the Netherlands’ market, the pyrolysis oil prices went from around 900 USD/MT in July’23 to about 786 USD/MT in December’23. This yielded an overall depreciation of about 12% in the Netherlands’ Pyrolysis Oil market. Overall, slumping market trends were witnessed in H2’23.
North America
The American price trend for pyrolysis oil was not much different from its Asian and European counterparts. The rise in upstream costs as the feedstock and energy prices inclined provided some initial push to the market; however, a dull and tepid demand pattern again maneuvered the price trend downwards. Overall, mixed market sentiments were experienced.
Analyst Insight
According to Procurement Resource, market projections appear positive for the coming quarter in the Pyrolysis Oil industry. However, prices will take some time to return to the inclining trajectory.
Pyrolysis Oil Price Trend for the First Half of 2023
Asia
The Asia-Pacific market of pyrolysis oil showcased a mixed trend in the first quarter of 2023 as Indonesia banned its exports, which forced other importing nations to obtain their oil from Malaysia at compromised prices. The prices then, in the second quarter, ultimately declined due to the low purchasing potential of consumers and a slowdown of the downstream sectors. Along with these uncertain market conditions, the strong supply of pyrolysis oil in the markets pushed the price trend towards a downward trajectory.
Europe
In European countries, the price trend of pyrolysis oil was stable in the first quarter of 2023, as it was supported by the rising cost of feedstock materials, sliding rates of operation, and high pressure on existing inventories. However, the market of pyrolysis oil in the second quarter dipped due to the fluctuating condition of the raw material markets, ease in import limitations, and rising level of inventories that hampered the growth of pyrolysis oil price trend.
North America
In the first and second quarters of 2023, the prices of pyrolysis oil declined gradually in view of the surge in energy prices and the availability of cheaper options. The consumers seemed to be inclined towards more renewable and environmentally friendly substitutes that are also cheap, and these shifting sentiments led to the negative movement of the pyrolysis oil prices. In addition to this, the region also suffered from drastic economic crises that spiked the level of inflation and interest rates charged by banks, adversely affecting the pyrolysis oil price trend.
Analyst Insight
According to Procurement Resource, the price trend of Pyrolysis Oil is expected to witness an oscillating trajectory as the demand and market dynamics of pyrolysis oil seem to be uncertain.
Procurement Resource provides latest prices of Pyrolysis Oil. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Pyrolysis oil is obtained via heating of biomass or plastic waste material in the absence of oxygen. The process of thermochemical breakdown converts these materials into dark, viscous liquid which can be used in several industrial processes. This oil serves as a renewable source of energy and also as a chemical feedstock, soil conditioner.
Report Features | Details |
Product Name | Pyrolysis Oil |
Industrial Uses | Heating and power generation, Transportation fuel, Chemical Feedstock, Asphalt Binder, Carbon Black Production |
HS Code | 27101990 |
Supplier Database | Twence, Green Fuel Nordic Oy, Bioenergy AR Cote-Nord, New Hope Energy, Pyrocell |
Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
Currency | US$ (Data can also be provided in local currency) |
Supplier Database Availability | Yes |
Customization Scope | The report can be customized as per the requirements of the customer |
Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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