Plastic-To-Fuels Market: Information by Type (Polyethylene, Polyethylene Terephthalate, Polystyrene, Polyvinyl Chloride) End-use Application (Chemical Industry, Energy Industry), and Region (Asia-Pacific, North America, Europe, Latin America, and Others) — Global Forecast till 2026
Plastic-To-Fuel, denoting a technology creating fuel by using the chemical energy stored in the material’s hydrocarbon structure, which makes it possible to convert non-recycled plastics into an array of fuels, crude oil, and industrial feedstocks. Though such projects mostly remained a developing level it’s quite a plastic processing solution praised for its economic and environmental benefits and begins to gaining traction in the energy industry.
The global energy industry is experiencing a drastic shift under different factors, especially in the Plastic-To-Fuels sector. In terms of value, a recent report from Global Market Monitor forecasts the global Plastic-To-Fuels market is projected to grow from USD xxxx million in 2019 to USD xxxx million by 2026, registering a CAGR of xxxx% during this period.
The global Plastic-To-Fuels industry was growing at a rapid speed in the recent past, mainly due to the increased demand for energy along with depletion of natural resources globally. Moreover, the growing adoption of plastics and the focus concerning recycling plastic waste is predicted to serve as a key driver for market growth. Apart from this, the lower emissions from the Plastic-To-Fuels plants as compared to natural gas furnaces are estimated to fuel the market demand. And factors such as the requirement for alternative energy pertaining to the excess dependence on natural resources, the increasing cost of landfills may also positively accelerate the Plastic-To-Fuels market.
Whereas, the high initial cost for setting up of waste processing plants coupled with the technological complexities are likely to restrain the market expansion.
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Plastic-To-Fuels Market: Type Outlook
l Polyethylene (PE)
l Polyethylene Terephthalate (PET)
l Polystyrene (PS)
l Polyvinyl Chloride (PVC)
l Polypropylene (PP)
l Other Plastics
Plastic-To-Fuels Market: Application Outlook
l Chemical Industry
l Energy Industry
l Others
Plastic-To-Fuels Market: Region Outlook
l North America (U.S., Canada, Mexico)
l Europe (Germany, France, Italy, Spain, U.K., Nordic Countries, Belgium, Russia, Rest of Europe
l Asia Pacific (China, India, Australia, Japan, South Korea, Australia and New Zealand, Rest of Asia Pacific)
l Latin America, Middle East & Africa (Brazil, Nigeria, Argentina, South Africa, GCC Countries.
l Others
Highlight: Key Findings of the Global Plastic-To-Fuels Market
North America – Promising Growth Avenue
North America is endowed with a promising future over the forecast period owing to the upsurge demand for plastic leading to easy access to the feedstock in the United States. What’s more, the strong support of the U.S. government regarding energy security is anticipated to drive the market growth. Also, high tipping costs of landfills coupled with the need for plastic waste recycling are expected to be the key factors for booming the market demand.
Asia-Pacific – The Largest Regional Market
The Asia-Pacific is estimated to witness growing demand during the forecast period due to the high demand for petroleum products in countries such as India, China, and Australia. Still, growing demand for energy in oil importing countries including India, Australia, Japan, and China from exporting countries such as the U.S., Iran, and Kuwait leads to higher import bills which are expected to act as a major driver for the regional market growth.
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Leading Company for Driving Industry development
The global Plastic-To-Fuels market growth is also reliant on the development of active players in the industry, which are Vadaxx Energy, Plastic2Oil, RES Polyflow, Green Envirotec Holdings LLC, Agilyx Corporation, JBI Inc, Envion, Shangqiu Sihai Machinery Equipment Manufacturing Co.Ltd., Beston (Henan) Machinery Co., Ltd., Zhangzhou Qiyu Renewable Energy Technology Co.Ltd., Rudra Environmental Solutions, and etc.
Key Stakeholders
l Plastic-To-Fuels hardware equipment manufacturers
l Raw material suppliers of Plastic-To-Fuels hardware
l Downstream vendors and end-users
l Traders, distributors, and resellers of Plastic-To-Fuels machines
l Energy resources industry associations and solution companies
l Product managers, Plastic-To-Fuels equipment manufacturing industry administrator, C-level executives of the industries
l Market Research and consulting firms
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Years considered for the study
l Base Year: 2018
l Estimated Year: 2019
l Forecast Period: 2019 to 2026
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