Pune, India, April 28, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, that global plastic to fuel market size which accumulated a valuation of USD 874 million in 2021 is likely to progress at an annual growth rate of 13.4% and reach a valuation of USD 2108 million by 2028.
The research report underlines pivotal aspects pertaining to market segments like technology, end-fuel, and regional terrain. Besides, an overview of the competitive landscape of this business sphere is entailed in the document, containing business profiles and product & service portfolios of companies and latest strategic outcomes.
Several factors such as rapid urbanization, population explosion, and economic development have resulted in growing amounts of plastic waste that is boosting the demand for waste-to-wealth solutions for recycling & reusing plastic, thus propelling the industry growth.
For the unversed, plastic wastes can be converted into regular fuel by making adjustments in the cracking point of chemical bonds.
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It has been observed that plastic wastes are detrimental for the environment as they are primary contributors to ecological instability and cause soil to lose its nutritional quality, adversely affecting agricultural production. Focus on developing technologies for converting plastic into fuel for commercial and industrial use augmenting the market outlook.
In addition, ever-increasing demand for energy, and concerns regarding pollution and GHG (greenhouse gas) emissions are impelling the industry share.
Covid-19 impact: -
The onset of the Covid- 19 pandemic and the ensuing lockdown restrictions to curb the spread of the virus across the globe put a hold on business operations, causing a significant decline in the production capacity and overall revenue generation of the market over the past few years.
Segmental overview: -
Based on technology, worldwide plastic to fuel industry is divided into depolymerization, gasification and pyrolysis. Among these, pyrolysis is steadily gaining popularity in recent years. Pyrolysis involves heating of plastic wastes at a very high temperature in the absence of oxygen. Preference for liquid fuel from various sector, in consort with cost-effectiveness as well as reduced downtime of the process are bolstering the segmental share.
Speaking of end fuel, plastic wastes can be converted into hydrogen, crude oil, and other kind of fuels.
Regional terrain outlook: -
North America, Europe, and Asia Pacific are the leading regions that contribute significantly to overall market renumeration.
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https://www.marketstudyreport.com/reports/global-plastic-to-fuel-market-2022-2028
Competitive framework: -
Resynergi Inc., Plastic2Oil Inc., Plastic Advanced Recycling Corp., Nexus Fuels LLC, Nestle Oyj, Klean Industries Inc., Green EnviroTech Holdings Corp., Cassandra Oil AB, Brightmark Energy LLC, Bradam Group LLC, Beston Group Co. Ltd., Alterra Energy, and Agilyx Inc. are the major players influencing overall plastic to fuel market dynamics.
These companies are constantly directing efforts towards upgrading their production capacity and widening the scope of their business through strategic undertakings like mergers, acquisitions, and partnership deals to maintain their stance in the evolving market.
Global Plastic to Fuel Market by Technology (Value, USD Million, 2018-2028)
- Gasification
- Pyrolysis
- Depolymerization
Global Plastic to Fuel Market by End Fuel (Value, USD Million, 2018-2028)
- Hydrogen
- Crude Oil
- Others
Global Plastic to Fuel Market by Region (Value, USD Million, 2018-2027)
- North America
- Europe
- Asia Pacific
- Rest of the World
Global Plastic to fuel Market Company Profiles (Value, USD Million, 2018-2027)
- Resynergi Inc.
- Plastic2Oil Inc.
- Plastic Advanced Recycling Corp.
- Nexus Fuels LLC
- Nestle Oyj
- Klean Industries Inc.
- Green EnviroTech Holdings Corp.
- Cassandra Oil AB
- Brightmark Energy LLC
- Bradam Group LLC
- Beston Group Co. Ltd.
- Alterra Energy
- Agilyx Inc.
Table of Content:
FIGURES AND TABLES
PART 1. INTRODUCTION
- Report description
- Objectives of the study
- Market segment
- Years considered for the report
- Currency
- Key target audience
PART 2. METHODOLOGY
PART 3. EXECUTIVE SUMMARY
PART 4. MARKET OVERVIEW
- Introduction
- Drivers
- Restraints
- Impact of COVID-19 pandemic
PART 5. MARKET BREAKDOWN BY TECHNOLOGY
- Pyrolysis
- Gasification
- Depolymerization
PART 6. MARKET BREAKDOWN BY END FUEL
- Crude oil
- Hydrogen
- Others
PART 7. MARKET BREAKDOWN BY REGION
- North America
- Asia Pacific
- Europe
- Rest of the World (ROW)
PART 8. KEY COMPANIES
Related Report:
Plastics-To-Fuel (PTF) Market Size, Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Global Plastics-to-fuels market is projected to expand exponentially over the coming years owing to the depleting natural resources, increase in use of plastic, and increasing need for recycling facilities. Plastics deliver several benefits which make the modern life possible for people. They are helpful in keeping foods fresh for a longer time, for keeping innumerable medical supplied safe and sterile, insulating households so that consumers use less energy, and for reducing the car weight for utilization of less amount of fuel. From a regional frame of reference, Latin America will be accounting for a lower share of the global plastics-to-fuels market. Logistical issues and higher dependency on fuel products from the U.S. are some of the key reasons behind low penetration of PTF market in the region. However, the amount of waste generated each year and increasing need for recycling facilities in the region will pave way for the PTF technologies by the end of forecast time period.
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