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The global Plastics-To-Fuel (PTF) Market Size is valued at 569.13 million in 2022 and is predicted to reach 680.26 million by the year 2031 at a 2.1% CAGR during the forecast period for 2023-2031.
Due to the need for a clean environment, there is an increasing demand for energy produced from garbage. Governments in several regions have started using plastic to make energy due to an increase in home and industrial garbage. In the upcoming years, the market should gain from favorable regulatory conditions mixed with government assistance in the form of tax benefits and financial incentives.
The usage of non-renewable energy sources is raising environmental concerns, which should restrain industry expansion. Market expansion should be fueled by the rising demand for recycling services in industrialized nations including the United States, Japan, the Netherlands, and Germany. Companies like Chevron and BP have developed methods for using plastic trash as fuel to produce and generate their energy.
Technologies that use plastic as fuel are opportunistic and reflect well on plastic manufacturers. However, the current situation of turning trash into fuel is less lucrative than that of producing conventional gasoline. Economies of scale are the main issue facing the market. Most producers have noticed that the quality of the feedstock has a significant impact on the quality of the fuel. Furthermore, the garbage gathered from urban areas is quite likely to contain food, organic materials, or other sorts of chemicals, which drives up the price of manufacture. Additionally, the requirements of the end user, the choice of depolymerization technique, and the kind and quality of feedstocks all play a significant role in the commercial viability of plastics-to-fuel. Such patterns could impede the market's expansion for plastics as fuel.
The Plastics-To-Fuel (PTF) market is segmented on the basis of source, de-polymerization, and fuel type. Based on source, the market is segmented as municipal solid waste, and industrial. The de-polymerization segment includes thermal degradation and catalytic degradation. By fuel type, the market is segmented into solid, liquid, and gaseous.
The municipal solid waste category is expected to hold a major share of the global Plastics-To-Fuel (PTF) market in 2022. The Municipal Solid Waste (MSW) segment's share of the global plastics-to-fuel market was above USD 85 million. The MSW segment will dominate the market in Latin America, the Middle East, and Africa because of the significant amount of waste produced by these two industries. Municipal solid plastic waste consumption patterns for industry fueling will be significantly impacted by the cost and availability of feedstock materials.
The majority of the market for fuel made from plastic will be liquid. One tonne of plastic trash can be pyrolyzed to produce more than 100 gallons of fuel. However, several factors, such as feedstock contamination, process choice, etc., affect how much fuel is produced. Due to increased concerns about high quality and sustainability among plastic producers, many oil producers are concentrating on using plastics as fuel, which is boosting the industry's use of liquid fuel.
The market was controlled by Asia Pacific. China, India, and Japan are predicted to have the highest demand for plastic as fuel. In the upcoming years, rising industrialization and urbanisation in this area are anticipated to drive market expansion. Over the forecast period, market expansion is anticipated to be fueled by favourable government regulations that expedite the development of renewable energy technologies. This rise in energy consumption is being supported by an expanding population, particularly in China and India.
The need for basic fuels such as power, transportation, and cooking fuel has been rising as the population has grown. These nations produce a remarkably large amount of plastic garbage. There is a plentiful supply of scrap plastic that can be used to produce fuel. During the projected period, these factors are anticipated to propel the market.
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Report Attribute |
Specifications |
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Market Size Value In 2022 |
USD 569.13 Mn |
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Revenue Forecast In 2031 |
USD 680.26 Mn |
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Growth Rate CAGR |
CAGR of 2.1% from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Mn, Volume (Units) and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Source, De-Polymerization, And Fuel Type |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; South East Asia |
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Competitive Landscape |
Vadxx, Plastic2Oils, Inc., POLCYL, Nexus Fuels LLC, Klean Industries, Neste, Paterson Energy, Cbs Technologies, Anhui Oursun Environmental Technologies. |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Plastics-To-Fuel (PTF) Market Snapshot
Chapter 4. Global Plastics-To-Fuel (PTF) Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis of Metaverse Industry
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. COVID-19 Impact on Metaverse Industry
Chapter 5. Market Segmentation 1: By Source Estimates & Trend Analysis
5.1. By Source & Market Share, 2019-2031
5.2. Market Size (Value US$ Mn and Volume (Units)) & Forecasts and Trend Analyses, 2022 to 2031 for the following By Source:
5.2.1. Municipal Solid Waste (MSW)
5.2.2. Industrial
5.2.3. Others
Chapter 6. Market Segmentation 2: By Depolymerization Estimates & Trend Analysis
6.1. By Source & Market Share, 2019-2031
6.2. Market Size (Value US$ Mn and Volume (Units)) & Forecasts and Trend Analyses, 2022 to 2031 for the following By Depolymerization:
6.2.1. Thermal Degradation
6.2.1.1. Pyrolysis
6.2.1.2. Gasification
6.2.1.3. Hydrogenation
6.2.2. Catalytic Degradation
Chapter 7. Market Segmentation 3: By Fuel Type Estimates & Trend Analysis
7.1. By Source & Market Share, 2019-2031
7.2. Market Size (Value US$ Mn and Volume (Units)) & Forecasts and Trend Analyses, 2022 to 2031 for the following By Fuel Type:
7.2.1. Solid
7.2.2. Liquid
7.2.3. Gaseous
Chapter 8. Plastics-To-Fuel (PTF) Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) estimates and forecasts By Source, 2023-2031
8.1.2. North America Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) estimates and forecasts By Depolymerization, 2023-2031
8.1.3. North America Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) estimates and forecasts By Fuel Type, 2023-2031
8.1.4. North America Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) estimates and forecasts by country, 2023-2031
8.1.4.1. U.S.
8.1.4.2. Canada
8.2. Europe
8.2.1. Europe Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) by By Source, 2023-2031
8.2.2. Europe Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) estimates and forecasts By Depolymerization, 2023-2031
8.2.3. Europe Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) estimates and forecasts By Fuel Type, 2023-2031
8.2.4. Europe Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) by country, 2023-2031
8.2.4.1. Germany
8.2.4.2. Poland
8.2.4.3. France
8.2.4.4. Italy
8.2.4.5. Spain
8.2.4.6. Pacific Plastics-To-Fuel (PTF) UK
8.2.4.7. Rest of Europe
8.3. Asia Pacific
8.3.1. Asia Market Value US$ Mn and Volume (Units) by By Source, 2023-2031
8.3.2. Asia Pacific Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) estimates and forecasts By Depolymerization, 2023-2031
8.3.3. Asia Pacific Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) estimates and forecasts By Fuel Type, 2023-2031
8.3.4. Asia Pacific Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) by country, 2023-2031
8.3.4.1. China
8.3.4.2. India
8.3.4.3. Japan
8.3.4.4. Australia
8.3.4.5. Rest of Asia Pacific
8.4. Latin America
8.4.1. Latin America Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) by By Source, 2023-2031
8.4.2. Latin America Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) estimates and forecasts By Depolymerization, 2023-2031
8.4.3. Latin America Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) estimates and forecasts By Fuel Type, 2023-2031
8.4.4. Latin America Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) by country, (US$ Million) 2023-2031
8.4.4.1. Brazil
8.4.4.2. Rest of Latin America
8.5. Middle East & Africa
8.5.1. Middle East & Africa Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) by By Source, (US$ Million)
8.5.2. Middle East & Africa Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) estimates and forecasts By Depolymerization, 2023-2031
8.5.3. Middle East & Africa Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) estimates and forecasts By Fuel Type, 2023-2031
8.5.4. Middle East & Africa Plastics-To-Fuel (PTF) Market Value US$ Mn and Volume (Units) by country, (US$ Million) 2023-2031
8.5.4.1. South Africa
8.5.4.2. GCC Countries
8.5.4.3. Rest of MEA
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. Vadxx
9.2.2. Plastic2Oils, Inc
9.2.3. POLCYL
9.2.4. Nexus Fuels, LLC
9.2.5. Klean Industries
9.2.6. Neste
9.2.7. Paterson Energy
9.2.8. CbS Technologies
9.2.9. Anhui Oursun Environmental Technologies
Plastics-To-Fuel (PTF) Market By Source-
Plastics-To-Fuel (PTF) Market By Depolymerization-
Plastics-To-Fuel (PTF) Market By Fuel Type-
Plastics-To-Fuel (PTF) Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
