Global plastic waste to fuel market was worth US$ 3,147.8 Mn in 2021, according to a new report published by Absolute Markets Insights. The market is expected to expand at a CAGR of 16.2% from 2022 to 2030. Without any doubt plastic has driven rampant of this planet, but sadly it as also brought along several issues like plastic pollution. This type of pollution is caused by plastic waste. Plastic waste damages the environment in not one but several ways. One of the biggest reason why the demand for plastic went up is because it is extremely strong, rust-proof and is available at extremely cheap rates. Every year, several million tons of plastic waste is created on this planet. What makes it worse is that the plastic cannot be easily degraded and hence requires special attention. Plastic waste management is on the list of top priorities of many countries and are promoting ways to effectively use this waste. Converting plastic waste into fuel is gathering humungous popularity. Along with the management of the plastic, converting it into fuel will help in resolving the issue of energy scarcity faced globally. One of the biggest factor that has been driving the growth of the global plastic waste to fuel market is rising concerns towards GHG emission from the industry that makes the sector. Along with this, surging need for high quality fuel products across the world contributes to the progress made by this market. Meanwhile, increasing worries related to higher capital requirements for starting a business is likely to restrain the growth of the global plastic waste to fuel market.
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On the other hand, the global plastic waste to fuel market is forecasted to witness immense growth in the period of next few years due to rising investments from both, government and private organizations to promote recycling of the plastic waste. Also, the fact that surging rate of adoption of plastic to fuel technology will provide impetus to the growth of this market.
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Global Plastic Waste to Fuel Market Report Highlights
- The plastic waste type segment of the global plastic waste to fuel market has been bifurcated into polyethylene terephthalate (PETE), high-density polyethylene (HDPE), polyvinyl chloride (PVC), low-density polyethylene (LDPE), polypropylene (PP), polystyrene (PS) and miscellaneous plastics (mix plastics). The polypropylene (PP) segment mints majority of money for this market.
- On the basis of the source type, the global plastic waste to fuel market has been segregated into residential, commercial and industrial. The industrial waste is being prioritized when it comes to recycling and hence makes for most of the money made by this market.
- Europe region is forecasted to mint maximum money at a great pace for the global plastic waste to fuel market during the forecast period 2022-2030. The European Union (EU) is leaving no stone unturned for the managing the plastic waste, bringing down carbon emissions and making the planet a better place to live. Huge subsidies on using alternative sources of fuel and strict policies in regards with the treatment of the plastic waste is driving the growth of the market.
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Competitors: Global Plastic Waste to Fuel Market:
- Alterra Energy
- CFP Inc.
- KVT-Kanzler Verfahrenstechnik GmbH
- MAKEEN Energy
- Nexus Circular
- PLASTIC ENERGY
- WIPO GREEN
- Other Market Participants
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Global Plastic Waste to Fuel Market Segmentation
Absolute Markets Insights has segmented into the global plastic waste to fuel market on the basis of plastic waste type, source, process, end fuel type and region further into countries.
Global Plastic Waste to Fuel Market Plastic Waste Type Outlook (Revenue, USD Million, 2015 – 2030)
- Polyethylene Terephthalate (PETE)
- High-Density Polyethylene (HDPE)
- Polyvinyl Chloride (PVC)
- Low-Density Polyethylene (LDPE)
- Polypropylene (PP)
- Polystyrene (PS)
- Miscellaneous Plastics (Mix plastics)
Global Plastic Waste to Fuel Market Source Outlook (Revenue, USD Million, 2015 – 2030)
Global Plastic Waste to Fuel Market Process Type Outlook (Revenue, USD Million, 2015 – 2030)
- Thermal Degradation
- Catalytic Degradation
Global Plastic Waste to Fuel Market End Fuel Type Outlook (Revenue, USD Million, 2015 – 2030)
- Crude Oil
Global Plastic Waste to Fuel Market Regional Outlook (Revenue, USD Million, 2015 – 2030)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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