Pyrolysis Oil Price Trend and Forecast

Regional Price Overview

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 Second Half of 2023

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.

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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.