Biomass pyrolysis for oil, also known as bio-oil, is a promising field in the renewable energy sector. This process involves the thermal decomposition of biomass in the absence of oxygen, a method known as pyrolysis. The resulting bio-oil has potential applications in various sectors, including energy production and chemical manufacturing. Therefore, biomass pyrolysis for oil represents a sustainable and environmentally friendly approach to energy production. This post contains all the information related to the Biomass pyrolysis market in India.

The current and future market potential

Current Market

  • Market Size: According to a report by Expert Market Research, the global market for biomass pyrolysis oil was valued at USD 0.7 billion in 2023.
  • Growth Rate: The market is expected to experience a Compound Annual Growth Rate (CAGR) of 23.2% during the forecast period of 2023-2030, reaching a projected value of USD 3.6 billion by 2030.

Factors Driving Current Market Growth

  • There are increasing concerns regarding environmental sustainability and climate change.
  • Growing demand for renewable and alternative energy sources.
  • Rising oil prices and potential supply chain disruptions for traditional fossil fuels.
  • Government support for research and development in biofuels, including biomass pyrolysis.
  • Technological advancements lead to improved efficiency and cost-effectiveness of biomass pyrolysis processes.

Future Market Potential

  • Market analysts predict significant growth potential for the biomass pyrolysis oil market in the coming years.
  • Factors contributing to this potential include:
    • Stringent environmental regulations and emission reduction targets.
    • Investments in biorefineries and infrastructure for biomass pyrolysis.
    • Increased demand for bio-based products and chemicals derived from biomass pyrolysis oil.
    • Developments in advanced pyrolysis technologies with improved efficiency and yield.

Biomass Pyrolysis Oil Sector in India: Potential Players 

Potential Producers ReGen VillagesMajor players in the agri-business sector could potentially supply agricultural residues.
TakacharOffers pyrolysis technology for converting plastic waste into fuel oil, which might be adaptable for biomass.
Carbon Masters India Pvt. Ltd.Researchers in environmental technologies might be exploring sustainable biomass conversion methods.
BioUrja GroupInvolved in waste-to-wealth solutions, might be exploring biomass conversion technologies.
Raw Material SuppliersITC Ltd. (Agricultural Business Division)Offers waste-to-energy solutions, and might have expertise adaptable for biomass pyrolysis.
KRIBHCOA fertilizer cooperative with a network of farmers could be a source of sustainable biomass feedstock.
Vikram SolarCompanies involved in renewable energy might have a network of biomass suppliers for their projects.
Chhattisgarh Renewable Energy Development Agency (CREDA)Government agencies promoting renewable energy might have information on potential biomass suppliers.
Tamil Nadu Agricultural University (TNAU)Researches various agricultural aspects, and might have insights into potential biomass feedstock sources.
Equipment ManufacturersThermax Ltd.Leading engineering solutions provider, might offer or be developing pyrolysis equipment.
Celeris Technologies Pvt. Ltd.Offers technology and equipment for waste treatment and resource recovery, and might have adaptable solutions for biomass pyrolysis.
Bio-Green Pvt. Ltd.Manufactures pyrolysis plants for converting various waste materials into fuels.
Equinox Engineering Services Pvt. Ltd.Research institutes focused on sustainable energy solutions, might be exploring advancements in biomass conversion technologies.
TES-AMM (India) Pvt. Ltd.Provides design and engineering services for various industrial processes, and might offer expertise relevant to pyrolysis plants.
Technology Solution ProvidersIndian Institute of Technology Delhi (IIT Delhi)Researches bioenergy and renewable technologies, and might be involved in pyrolysis research.
The Energy and Resources Institute (TERI)Researches in environmental technologies might be exploring sustainable biomass conversion methods.
Council of Scientific and Industrial Research (CSIR) – Indian Institute of Chemical Technology (IICT)Research institutes involved in developing bio-based technologies might have expertise relevant to biomass pyrolysis.
Bombay Institute of Technology (BIT) Centre for Environmental Science and Engineering (CESE)Researches environmental technologies, and might be exploring sustainable biomass conversion methods.
University of Agricultural Sciences, Bangalore (UASB)University with expertise in agricultural sciences, might be involved in research on bioenergy solutions from agricultural residues.

Technical Details and Process Production

Feedstock Selection

  • The selection of feedstock significantly impacts the process efficiency and product yields.
  • Moisture content: High moisture content (above 20%) reduces energy efficiency and product quality. Drying is often crucial before pyrolysis.
  • Lignocellulosic composition: The proportions of cellulose, hemicellulose, and lignin in the biomass affect the product yields. Cellulose and hemicellulose primarily contribute to bio-oil production, while lignin forms char.

Reactor Technologies

  • Fluidized bed reactors: Biomass particles are suspended in a hot gas stream, promoting uniform heating and efficient heat transfer. Suitable for processing diverse feedstocks with good mixing and control over residence time.
  • Entrained flow reactors: Finely ground biomass is entrained in a hot gas stream, enabling short residence times and high bio-oil yields. Requires good feedstock preparation and can be energy-intensive due to high gas flow rates.
  • Auger reactors: Biomass is continuously fed through a screw conveyor, providing good control over residence time and suitable for continuous operation. Can be limited in processing capacity compared to other designs.

Process Optimization

  • Catalysts: Adding catalysts can improve bio-oil quality by promoting desired chemical reactions and reducing the formation of undesired compounds.
  • Temperature and residence time: Optimization of these parameters is crucial for maximizing bio-oil yield and minimizing char and gas formation.
  • Condensation methods: Efficient condensation systems are necessary to recover a high yield of bio-oil with desired properties.

Bio-Oil Characteristics

  • Bio-oil is a complex mixture of hundreds of oxygenated organic compounds, including alcohols, phenols, acids, and esters.
  • Properties vary depending on the feedstock, process conditions, and upgrading methods.
  • Generally, bio-oil has high oxygen content, water content, and acidity, requiring upgrading to meet fuel specifications or for use as a chemical feedstock.

Upgrading Technologies

  • Hydrotreating: Removes oxygen and improves stability through reactions with hydrogen.
  • Hydrocracking: Breaks down large molecules in bio-oil into smaller, more useful hydrocarbons.
  • Esterification: Converts fatty acids in bio-oil into biodiesel.

Environmental Considerations

  • Emissions control: Particulate matter, volatile organic compounds (VOCs), and nitrogen oxides (NOx) can be generated during the process. Effective pollution control systems are necessary to minimize environmental impact.
  • Feedstock sustainability: Sourcing biomass from sustainable sources and maintaining healthy ecosystems is crucial for the long-term viability of the technology.

Feedstocks for Biomass Pyrolysis Oil Production

Agricultural ResiduesRice straw, wheat straw, corn stover, bagasseEmerging options with future potential, require further research and development.
Forestry ResiduesWood chips, sawdust, barkAbundant, readily available, and low-cost options in specific regions.
Energy CropsMiscanthus, switchgrassFast-growing, dedicated energy crops offering high biomass yield.
Municipal Solid Waste (MSW)Organic fraction (food scraps, yard waste)Challenging due to heterogeneity, but offers waste-to-energy potential.
Other Potential FeedstocksAlgae, jatrophaEmerging options with future potential, require further research and development.

Top 10 States to Start a Biomass Pyrolysis Oil Business in India: More Specific Reasons

RankStateSpecific Reasons
1Punjab– Highest producer of rice straw in India, generating over 20 million tonnes annually.
– Existing infrastructure for agricultural processing and transportation can be leveraged.
– The state government actively seeks solutions for managing crop residue, potentially offering support for pyrolysis initiatives.
2Haryana– Leading producer of sugarcane, generating over 40 million tonnes of bagasse annually, a potential feedstock.
– Existing bioenergy initiatives in the state, like sugar mills with cogeneration plants, create a supportive ecosystem for exploring bio-based solutions.
A strong industrial base in the state could provide potential markets for pyrolysis oil.
3Uttar Pradesh– Highest producer of wheat and sugarcane in India, generating substantial agricultural residues.
– Growing awareness about environmental concerns and rising energy demands create opportunities for renewable energy solutions.
– The state government has launched initiatives promoting biofuel production, potentially offering support for pyrolysis projects.
4Maharashtra– Significant agricultural activity, with the production of rice, wheat, and other crops, generating substantial residues.
– Abundant forest cover, with potential for utilizing sustainable forestry practices and exploring non-wood feedstocks like jatropha.
– The state government has launched initiatives promoting renewable energy, potentially offering support for bioenergy projects.
5Tamil Nadu– Diverse agricultural activity, generating rice straw, sugarcane bagasse, and other potential feedstocks.
– Progressive policies promoting renewable energy, including biofuel production, creating a supportive environment for the sector.
– Established research institutions and universities in the state can provide potential collaboration opportunities for technology development or knowledge sharing.
6Karnataka– Strong focus on renewable energy development, with existing bioethanol and biogas production facilities.
– The state government actively promotes research and development in bioenergy technologies, potentially offering support for innovative pyrolysis solutions.
– Availability of agricultural residues and forestry resources provides a diverse feedstock base.
7Andhra Pradesh– Leading producer of rice and other crops, generating significant agricultural residues.
– Growing focus on sustainable waste management and renewable energy sources creates potential for exploring pyrolysis projects.
– The state government has launched initiatives promoting biofuel production, potentially offering support for pyrolysis ventures.
8Gujarat– Strong focus on renewable energy development, with existing expertise in solar and wind power.
– The state government actively seeks innovative solutions for waste management and resource recovery, potentially creating opportunities for waste-to-energy projects utilizing biomass pyrolysis.
– Availability of agricultural and forestry residues, along with initiatives exploring algae cultivation, provide diverse feedstock options.
9Madhya Pradesh– Significant agricultural activity, with production of rice, wheat, and other crops, generating substantial residues.
– Abundant forest cover, with potential for utilizing sustainable forestry practices and exploring non-wood feedstocks like jatropha.
– The state government has launched initiatives promoting renewable energy, potentially offering support for bioenergy projects.
10Odisha– Second-highest forest cover in India, offering potential for utilizing sustainable forestry practices for biomass feedstock.
– The state government has launched initiatives promoting biofuel production and exploring non-wood feedstock options like jatropha.
– Proximity to major ports in the state could facilitate potential export opportunities for bio-oil in the future.

Emerging and Under-Researched Feedstock for Biomass Pyrolysis Oil Production

1. Algae

  • Advantages
    • Capable of rapid growth and high biomass yield per unit area.
    • Cultivation doesn’t compete with land used for food production.
    • Can be cultivated in non-arable land or even wastewater, promoting resource efficiency.
  • Challenges
    • High water and nutrient requirements for optimal growth.
    • Harvesting and processing costs can be high.
    • Limited commercial-scale production of algae specifically for bioenergy purposes.

2. Jatropha

  • Advantages
    • Grows in marginal lands unsuitable for food crops, minimizing competition for land resources.
    • Drought-tolerant and requires minimal water and fertilizers.
    • Produces non-edible oil suitable for conversion into biofuels, including pyrolysis oil.
  • Challenges
    • Concerns regarding potential invasiveness and ecological risks need careful consideration.
    • Seed yield variability and low oil content per seed can affect economic viability.
    • Sustainable cultivation practices are crucial to minimize environmental impact.

3. Municipal Solid Waste (MSW)

  • Advantages
    • Offers a solution for waste disposal and resource recovery, addressing waste management challenges.
    • Organic fraction of MSW, primarily food scraps and yard waste, can be a potential feedstock.
  • Challenges
    • The heterogeneity of MSW composition can complicate processing and require efficient sorting and pre-treatment.
    • The potential presence of contaminants in MSW can necessitate additional processing steps for clean bio-oil production.
    • Public acceptance and stringent regulations regarding waste-to-energy solutions need to be considered.

4. Energy Crops

  • Advantages
    • Dedicated energy crops like Miscanthus and switchgrass offer high biomass yield and rapid growth rates.
    • Cultivation can be managed on marginal lands, minimizing competition with food production.
    • Research efforts are focused on developing improved varieties with higher biomass yield and better suitability for specific regions.
  • Challenges
    • Establishment costs and long-term management of dedicated energy crops can be higher compared to utilizing agricultural residues.
    • Potential competition for land use with other sectors, requiring careful land-use planning and sustainability considerations.

5. Other Potential Feedstocks

  • Aquatic biomass: Water hyacinths, duckweeds, and other fast-growing aquatic plants offer potential feedstock options, although research and development are needed to assess their viability and sustainability.
  • Agro-industrial residues: Residues from various agricultural processes, such as sugarcane bagasse, rice husk, and fruit peels, can be explored for their potential use in biomass pyrolysis.

Emerging process technologies in this sector

1. Microwave-assisted pyrolysis

  • This technology utilizes microwave radiation to heat biomass, offering several advantages:
    • Faster heating rates: Enables shorter residence times, potentially improving bio-oil yield and reducing char formation.
    • Selective heating: Targets specific components within the biomass, potentially enhancing the production of desired bio-oil components.
    • Potential for energy efficiency: Microwave heating can be more efficient compared to conventional heating methods.

2. Plasma-assisted pyrolysis

  • This technology employs high-temperature plasma to induce the thermal decomposition of biomass. Advantages include:
    • High heating rates and shorter residence times: Similar benefits to microwave-assisted pyrolysis.
    • Enhanced product quality: Plasma can promote the cracking of heavy molecules in bio-oil, leading to a lighter and more valuable product.
    • Potential for waste valorization: Plasma can handle diverse feedstocks, including low-quality biomass and even municipal solid waste.

3. Catalytic pyrolysis

  • This process involves using catalysts to accelerate and control the chemical reactions during pyrolysis. Benefits include:
    • Increased bio-oil yield: Catalysts can promote desired reactions, leading to higher conversion of biomass into bio-oil.
    • Improved bio-oil quality: Catalysts can selectively target the formation of specific bio-oil components with desirable properties.
    • Reduced char formation: Catalysts can enhance the conversion of biomass into valuable products, minimizing char production.

4. Hydrothermal liquefaction (HTL)

  • While technically not pyrolysis (which occurs in the absence of oxygen), HTL is a thermochemical conversion process with some similarities and is gaining traction in the biomass conversion sector.
  • HTL operates at high temperatures and pressures using water as a reaction medium. Advantages include:
    • Conversion of wet biomass: HTL can effectively process biomass with high moisture content, eliminating the need for pre-drying, which can be energy-intensive.
    • Production of bio-crude oil: The product of HTL is a bio-crude oil with properties closer to conventional crude oil, potentially simplifying downstream processing.
    • Potential for co-processing with other feedstocks: HTL shows promise for co-processing biomass with other organic waste streams, promoting resource recovery and waste management.

5. Integrated biomass conversion processes

  • Research is exploring the integration of different technologies like pyrolysis, gasification, and reforming to create more efficient and comprehensive biomass conversion systems. Potential benefits include:
    • The synergy between technologies: Combining different processes can utilize different components of biomass more effectively, leading to higher overall product yields.
    • Enhanced product diversity: Integration can enable the production of various valuable products from a single feedstock, such as bio-oil, syngas, and biochar.
    • Improved waste heat utilization: Integrating processes can optimize heat utilization within the system, enhancing overall energy efficiency.

End-Use Applications of Biomass Pyrolysis Oil

Direct CombustionRequires advanced downstream processing, careful evaluation of economic feasibility, and market demand.Requires careful blending ratios, adjustments to combustion parameters, and regulatory considerations.
Co-firing with Fossil FuelsBlends bio-oil with fossil fuels like coal or diesel in existing power plants or boilers.Requires modifications to existing equipment, and stringent emission control is needed.
Upgrading to Transportation FuelsProcesses bio-oil into biofuels like gasoline, diesel, or jet fuel through processes like hydrocracking.Complex and energy-intensive processes require established infrastructure for biofuels.
Chemicals and Materials ProductionProcesses bio-oil components into platform chemicals, bioplastics, or bio-based resins.Requires proper production and application methods, established regulatory frameworks and market awareness.
Soil Amendment (Biochar)Utilizes biochar, the solid residue from pyrolysis, as a soil amendment to improve fertility and water retention.Requires proper production and application methods, established regulatory frameworks, and market awareness.

Key challenges

Technical Challenges

  • Bio-oil properties: Bio-oil is a complex mixture with high oxygen content, water content, and acidity, requiring upgrading to meet fuel specifications or for use as a chemical feedstock.
  • Process efficiency: Optimizing the pyrolysis process to maximize bio-oil yield while minimizing char and gas formation is crucial for economic viability.
  • Feedstock logistics and pre-treatment: Ensuring consistent feedstock quality, managing logistics, and implementing efficient pre-treatment methods are essential.
  • Upgrading technologies: Developing cost-effective and efficient technologies for upgrading bio-oil into valuable products like transportation fuels or chemicals is crucial.

Economic Challenges

  • High production costs: The high cost of establishing and operating pyrolysis plants, along with the often energy-intensive upgrading processes, makes bio-oil less competitive with conventional fuels.
  • Lack of infrastructure: Limited infrastructure for bio-oil storage, transportation, and utilization in existing infrastructure like power plants or refineries poses a challenge.
  • Uncertainties in government policies and incentives: Lack of consistent and long-term government support through policies and incentives can hinder investment and commercialization efforts.

Environmental Challenges

  • Emissions control: Stringent emission control measures are necessary during the pyrolysis process to minimize air pollution from particulate matter and volatile organic compounds.
  • Sustainable feedstock sourcing: Ensuring sustainable feedstock production practices that minimize environmental impact and avoid competition with food production is crucial.
  • Wastewater management: Managing and treating wastewater generated during the process in an environmentally responsible manner is essential.

Social and Regulatory Challenges

  • Public perception: Addressing public concerns about potential environmental impacts and promoting social acceptance of the technology is important.
  • Regulatory frameworks: Establishing clear and supportive regulatory frameworks that incentivize and guide the development of the sector while ensuring environmental and social responsibility is crucial.

Key Drivers and Opportunities for the Biomass Pyrolysis Oil Sector in India


  • Growing demand for renewable energy: India’s ambitious renewable energy targets and increasing energy security concerns drive the exploration of alternative sources like biomass.
  • Abundant biomass resources: India has a vast amount of agricultural residues, forestry waste, and potential for energy crops, offering a readily available feedstock base.
  • Waste management concerns: Biomass pyrolysis offers a solution for converting agricultural waste into a valuable resource, addressing waste management challenges.
  • Government initiatives: The Indian government has shown increasing support for biofuels and renewable energy, with potential policies and incentives to encourage the sector.
  • Rising fossil fuel prices: Fluctuations and increasing prices of fossil fuels can make bio-oil a more attractive alternative in the long run.


  • Development of cost-effective technologies: Research and development efforts focused on optimizing process efficiency and cost reduction can enhance the economic viability of bio-oil production.
  • Exploring diverse feedstocks: Utilizing a wider range of feedstocks, including energy crops, municipal solid waste, or even algae, can improve feedstock security and sustainability.
  • Integration with existing infrastructure: Exploring co-firing with fossil fuels or utilizing existing refinery infrastructure for bio-oil upgrading can leverage existing resources.
  • Production of high-value bioproducts: Upgrading bio-oil into biofuels, chemicals, or bioplastics can create opportunities in high-value markets.
  • Decentralized production: Setting up smaller-scale pyrolysis plants closer to feedstock sources can improve logistics and economic feasibility.
  • Carbon credits and sustainability benefits: The potential for carbon credits and environmental benefits associated with bio-oil production can attract investments and contribute to a cleaner energy future.

Government Policies Supporting Biomass Pyrolysis Oil Sector in India

PolicyImplementing BodyDescriptionPotential future application of bio-oil-derived fuels for blending.
National Policy on Biofuels 2018Ministry of Petroleum and Natural Gas (MoPNG)Promotes production and use of biofuels, including second-generation biofuels like those derived from biomass pyrolysis.Offers financial assistance for setting up biofuel refineries, potentially supporting pyrolysis plants under specific conditions.
Mission Innovation Challenge on Clean CookingDepartment of Science and Technology (DST)Supports development and deployment of clean cooking solutions, including exploring bio-oils for cookstoves.Potential for bio-oil derived fuels in clean cooking applications.
Sustainable Alternative Towards Affordable Transportation (SATAT)MoPNGPromotes blending biofuels with fossil fuels.Promotes biomass utilization, including biogas, biopower, and briquette production
Schemes by the Ministry of New and Renewable Energy (MNRE)MNREPotential support for the production and use of biofuels.Potential support for the production and use of biofuels, which could encompass bio-oil-derived fuels, depending on specific policies.
State Biofuel/Renewable Energy PoliciesVarious State GovernmentsSeveral states have formulated policies promoting biofuels and renewable energy.Indirect support for biomass valorization is potentially beneficial for the pyrolysis sector in the future.
State Support for BiorefineriesVarious State Governments (e.g., Tamil Nadu, Gujarat)Some states announce support for setting up biorefineries.Potential support for pyrolysis-based facilities meeting specific criteria.

Potential Business Models in the Biomass Pyrolysis Oil Sector

ModelDescriptionRevenue StreamsChallenges
Feedstock Production and SupplyCompanies/cooperatives cultivate energy crops, aggregate & pre-treat agricultural residues, or source other feedstocks.Selling prepared biomass feedstock to pyrolysis plants or biorefineries.Significant investment in advanced technologies, managing process complexity, and navigating biofuel regulations.
Standalone Pyrolysis Plant OperationCompanies set up and operate pyrolysis plants, converting biomass into bio-oil, char, and non-condensable gases.Selling bio-oil, char, and potentially using non-condensable gases for energy production within the plant.High upfront capital costs, ensuring efficient operation & bio-oil quality, finding markets for bio-oil & co-products.
Integrated Pyrolysis and UpgradingCompanies combine pyrolysis with upgrading processes to convert bio-oil into biofuels.Selling the produced biofuels to transportation companies or blending them with conventional fuels.Expertise in bio-oil handling & blending, establishing supply contracts, and navigating biofuel blending regulations.
Bio-oil Blending and DistributionCompanies acquire bio-oil, potentially blend it, and distribute the blended fuel to end-users.Margins on the sale of blended fuels.Collaboration with partners to ensure compatibility with existing infrastructure, addressing emission control requirements, and securing offtake agreements.
Bio-oil for Industrial ApplicationsCompanies utilize bio-oil directly for industrial applications like co-firing boilers.Selling bio-oil to industrial users under long-term contracts.Collaboration with partners to ensure compatibility with existing infrastructure, addressing emission control requirements, securing offtake agreements.

Strategic Initiatives in the Indian Biomass Pyrolysis Oil Sector

1. Pilot Projects and Feasibility Studies

  • Dalmia Cement (Bharat): In 2021, Dalmia Cement, a leading cement manufacturer, partnered with an Israeli technology provider to conduct a pilot project on utilizing biomass pyrolysis oil as a substitute for fossil fuels in their cement kilns. This project aimed to assess the technical feasibility and environmental benefits of bio-oil co-firing.
  • Praj Industries: This biofuels technology company has conducted research on biomass pyrolysis and is exploring its potential applications, including the development of bio-crude oil from agricultural residues.

2. Collaboration and Partnerships

  • Indian Institute of Technology (IIT) Delhi and Reliance Industries: IIT Delhi and Reliance Industries are collaborating on a research project to develop cost-effective technologies for the production of biofuels from biomass, potentially including explorations related to pyrolysis.
  • CSIR-Indian Institute of Chemical Technology (IICT) and Ashok Leyland: IICT, a government research institute, partnered with Ashok Leyland, a leading automobile manufacturer, to develop biofuels from biomass. While not specifically focused on pyrolysis, this collaboration highlights the potential for industry-academia partnerships in exploring bio-based fuels.

3. Investments in Supply Chain Development

  • Sugar Mills: Several sugar mills in India are exploring ways to utilize sugarcane bagasse, a potential feedstock for pyrolysis. This might involve developing dedicated collection and pre-treatment infrastructure for bagasse to ensure a reliable supply chain for future bio-oil production facilities.

4. Advocacy and Policy Engagement

  • The Confederation of Indian Industry (CII): This industry association has been advocating for the development of the biofuels sector in India, potentially including support for technologies like biomass pyrolysis. They might participate in policy discussions and engage with government agencies to create a supportive environment for the sector.

5. Building Internal Expertise

  • Companies in sectors like energy and chemicals: These companies might be investing in training their employees or hiring consultants to gain knowledge about biomass pyrolysis technologies and their potential applications. This internal expertise could be crucial for future decision-making and potential investments in the sector.


Biomass pyrolysis for bio-oil presents a transformative solution in renewable energy, addressing sustainability and energy security concerns. Valued at USD 0.7 billion in 2023, the market is projected to grow significantly, driven by environmental concerns, rising fossil fuel prices, and government support. India’s abundant agricultural and forestry residues, especially in states like Punjab, Haryana, and Uttar Pradesh, provide a solid foundation for this growth, supported by favorable policies and initiatives.

Advancements in reactor technologies, process optimization, and diverse feedstock exploration further enhance the market’s potential. Key players, including technology providers and raw material suppliers, are well-positioned to leverage these opportunities. However, challenges such as high production costs and feedstock logistics need addressing. Strategic initiatives, pilot projects, and collaborations will be crucial in overcoming these barriers, making bio-oil a viable and significant part of India’s renewable energy future.

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