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The marketplace is highly fragmented with presence of multiple industry participants in the current scenario generating small revenue. Intense capital requirements, fuel specifications, and unavailability of government subsidies are some of the key restraining factors faced by product manufacturers. Technological advancements are likely to have a huge impact on the industry development.
Some of the key manufacturers of the plastics-to fuel industry are:
Some of the key strategies adopted by these manufacturers are production capacity expansion, collaboration with plastic recyclers & converters, and new product development.
In 2019, the global plastics-to-fuel market size from the Municipal Solid Waste (MSW) segment was USD 85 million. MSW segment will lead LATAM and MEA industry share on account of the high waste generation in these regions from municipal & household sectors.
Global plastics-to-fuel market, in 2019, was worth USD 572.7 million and may showcase 2.5% CAGR through 2026, driven by strict GHG emission norms and reduced availability of fuel sources.
Liquid fuel may hold 80% of plastics-to-fuel market share by 2026, owing to the fact using pyrolysis, a ton of plastic waste can be converted to an astounding 100 gallons of fuel. Also, rising demand from oil producers will push segment growth.
Global plastics-to-fuel market size from thermal pyrolysis segment may experience 2.5% CAGR through 2026, driven by cost-effectiveness of pyrolysis & rising demand for liquid fuel.
Europe may hold 45% of global industry share owing to the presence of numerous conversion facilities offering high energy recovery and recycling rate from plastic wastes.