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Plastics-To-Fuel (PTF) Market Size

Report ID: GMI4804
Published Date: Aug 2020
Report Format: PDF

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Plastics-To-Fuel Market Size

Plastics-To-Fuel Market size was valued at USD 572.7 million in 2019 and is estimated to exhibit over 2.5% CAGR from 2020 to 2026. Depleting availability of fuel sources along with flourishing cleantech industry and Emerging regulations for GHG emissions from petrochemical industries & refineries will create growth potential for PTF demand.

The Plastics-To-Fuel (PTF) market is a part of the circular economy model, that thrives to produce high-quality plastic products from wastes. The technology is highly capital-intensive and Return-On-Investment (ROI) period for the market generally varies from two to five years. However, the industry is witnessing an increasing number of manufacturers in the U.S. and Europe owing to well-established infrastructure for waste management.

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Presence of stringent government regulatory norms in regions including Europe is supporting the adoption of plastic to fuel technology. Major countries including Germany, France, Italy, and Denmark have reported a substantially high degree of recycling & energy recovery rate along the plastic waste disposal value chain. In 2016, Germany reported the energy recovery rate of post-consumer plastic waste and plastics packaging waste at 60.6% and 58% respectively.

Plastic To Fuel Market Report Attributes
Report Attribute	Details
Base Year:	2019
Plastic To Fuel Market Size in 2019:	572.7 Million (USD)
Forecast Period:	2020 to 2026
Forecast Period 2020 to 2026 CAGR:	2.6%
2026 Value Projection:	594.1 Million (USD)
Historical Data for:	2016 to 2019
No. of Pages:	185
Tables, Charts & Figures:	211
Segments covered:	Source, Depolymerization, Fuel Type, and Region
Growth Drivers:	Rising concerns towards GHG emission from fuel making sector Growing need for high quality fuel products across the world Mismanaged plastic waste crisis in the context of landfilling, openly dumping & incineration
Pitfalls & Challenges:	Absence of government support such as financial aid or subsidies for plastics-to-fuels manufacturers High capital requirement for starting business Challenges associated with feedstock contamination deteriorating fuel quality.

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The growth factors responsible for such a high recovery rate are subjected to the EU waste legislation, that mandates countries to recycle plastic wastes, a minimum of 55% by 2025. Such trends have opened new avenues for plastic to fuel manufacturers over the last few years. These plastics to fuel market manufacturers can expand their cooperation with plastic converters and recyclers to increase the waste recovery rate in Europe, further contributing to industry development. The market for plastic waste pyrolysis oil to witness 5.3% growth during the forecast period.

Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

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.

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 size from thermal pyrolysis segment may experience 2.5% CAGR through 2026, driven by cost-effectiveness of pyrolysis & rising demand for liquid fuel.

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.

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.