Pune, India, Nov. 23, 2022 (GLOBE NEWSWIRE) -- The global solid recovered fuel market size is expected to grow from USD 4.75 billion in 2022 and is projected to reach USD 6.00 billion by 2029, exhibiting a CAGR of 3.4% during the forecast period from 2022-2029. This information is provided by Fortune Business Insights, in its report, titled, “Solid Recovered Fuel Market, 2022-2029.”
According to our analysts, constant development in incineration industry to spur growth of global solid recovered fuel market. Asia-Pacific to hold dominant share backed by prominent usage of solid recovered fuels.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 3.4% |
| 2029 Value Projection | USD 6.00 Billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 4.63 Billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 195 |
| Segments covered | By Waste Type (Biodegradable Waste, Recyclable Material, Inert Waste, and Composite Waste), By Application (Cement Kiln, Electricity, and Heat) And Regional |
| Growth Drivers | Continuous and Intense Market Growth is Driven by Incineration Industry |
| Closure of Production Units and Disruptions in Supply Chain to Slow Down Growth Amid Pandemic |
COVID-19 Impact
Closure of Production Units and Disruptions in Supply Chain to Slow Down Growth Amid Pandemic
Nearly 5% more garbage was disposed of in 2021 as a result of the recovery in economic activity and the restart of business and social movements, and around 20% more waste was recycled.
As a result, depending on the area, trash creation had the potential to either increase or reduce throughout this pandemic. Important institutions, such as businesses and schools, which often produce big amounts of garbage, have been shut down for a while.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/solid-recovered-fuel-market-101463
Drivers and Restraints
Continuous and Intense Market Growth is Driven by Incineration Industry
The primary source of Solid Recovered Fuel (SRF) is commercial waste, which includes paper, cards, wood, textiles, and plastics. Production facilities can use it as an addition to or a replacement for thermal coal with little to no change to their solid fuel systems.
The production of the effects of the expanding usage of diverse materials, including plastics, wood, and textiles has significantly increased throughout time.
Industry Development
April 2022: Andusia is delighted to announce signing a new contract with Enva Wood Recycling Ltd. The contract provides the transport of 20,000 tons of wood waste from Tilbury to Germany to be used as steam and power for a paper production plant. Andusia is delighted to be working with Enva Wood Recycling Ltd and exploring new trends as the demand for reclaimed wood across Europe is now higher than ever.
June 2022: Veolia offered the sales of Suez's U.K. waste business segment and planned to build the global pioneer of biological alteration. The project emphasizes on an environmental transformation by uniting Veolia and the majority of Suez's international activities.
June 2019: BMH Technology, a cleantech company, headquartered in Finland, declared that it has signed a new contract to provide a two-line Tyrannosaurus solid recovered fuel production plant to Six Construct Ltd. Co., located in the U.A.E. It will turn local waste into premium quality standardized fuel. As per the company, the production capacity of the plant will be over 300.000 tons per year. It will mainly supply local cement kilns with solid recovered fuel by replacing fossil fuel. The contract is worth 23,5 million euros.
July 2018: Enva, a provider of water and laboratory services, based in the U.K., announced that it has acquired GP Green Recycling, a recoverer of organic waste, headquartered in South Lanarkshire. As per the officials of Enva, GP Green Recycling produces top-quality soil conditioner and organic compost with a wide range of applications. It is gradually transforming the waste material into a valuable product. This acquisition would aid Enva in gaining the opportunity to accelerate and support the future developments of GP solutions.
List of Key Players Mentioned in the Report:
- Veolia (France)
- Enva (Ireland)
- Renelux Group (Greece)
- Geminor (Norway)
- Beauparc (Dublin)
- Axion Ltd. (Cheshire)
- BMH Technology (Finland)
- Andusia Holdings Limited (England)
- ENVIRONNEMENT MASSIF CENTRAL (France)
- Probio Energy International (England)
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Segmentation
Inert Waste Accounts for the Dominant Market Share due to Increase in Amount of Construction Waste
Based on waste type, the market is segmented into biodegradable material, recyclable type material, composite waste, and inert waste. The inert waste segment is likely to hold a dominant market share owing to the large consumption of construction and demolition waste, dirt, rocks, and debris.
Cement Industry is Among Leading Energy Consuming Industries Due to which it Accounts for Dominating Share
The demand for solid recovered fuel across the globe falls under energy-intensive industries, such as cement and thermal power plants, which make use of secondary fuels as substitutes for fossil ones, which means a benefit in terms of both less dependence on fossil fuels and lower environmental impact.
Geographically, the global market is finally classified into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Regional Insights
Inert Waste Accounts for the Dominant Market Share due to Increase in Amount of Construction Waste
Based on waste type, the market is segmented into biodegradable material, recyclable type material, composite waste, and inert waste. The inert waste segment is likely to hold a dominant market share owing to the large consumption of construction and demolition waste, dirt, rocks, and debris.
Cement Industry is Among Leading Energy Consuming Industries Due to which it Accounts for Dominating Share
The demand for solid recovered fuel across the globe falls under energy-intensive industries, such as cement and thermal power plants, which make use of secondary fuels as substitutes for fossil ones, which means a benefit in terms of both less dependence on fossil fuels and lower environmental impact.
Competitive Landscape
Important Business-related Announcements by Key Players to Influence Market Dynamics
Fundamental companies in the market often make crucial announcements regarding some business moves, which, in turn, affect the market either positively or negatively. Players acquire companies, launch new products, engage in partnership deals, sign contracts with government organizations and so on.
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Global Solid Recovered Fuel Market Size Segmentation:
By Waste Type
- Biodegradable Waste
- Recyclable Waste
- Inert Waste
- Composite Waste
By Application
- Cement Kiln
- Heat
- Electricity
Table of Contents
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions & Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnerships, etc
- Latest Technological Advancement
- Insight on Regulatory Landscape
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID19
- Impact of COVID-19 on the Solid Recovered Fuel Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Solid Recovered Fuel Market (USD Billion) Analysis, Insights, and Forecast, 2018-2029
- Key Findings
- Market Analysis, Insights and Forecast – By Waste Type
- Biodegradable Material
- Recyclable Material
- Inert Waste
- Composite Waste
- Market Analysis, Insights and Forecast – By Application
- Cement Kiln
- Heat
- Electricity
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Solid Recovered Fuel Market (USD Billion) Analysis, Insights, and Forecast, 2018-2029
- Key Findings
- Market Analysis, Insights and Forecast – By Waste Type
- Biodegradable Material
- Recyclable Material
- Inert Waste
- Composite Waste
- Market Analysis, Insights and Forecast – By Application
- Cement Kiln
- Heat
- Electricity
- Market Analysis, Insights and Forecast – By Country
- US
- Canada
Continued…
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