Plastic-To-Fuel (PTF) Market is segmented by Source Type (Municipal Solid Waste, Industrial, and Others {Medical Waste, E-waste, and Agriculture Waste}), by Depolymerization Type (Thermal Degradation {Pyrolysis, Gasification, and Hydrogenation}, Catalytic Degradation), by Fuel Type (Solid, Liquid, and Gaseous), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Plastic-To-Fuel (PTF) Market is segmented by Source Type (Municipal Solid Waste, Industrial, and Others {Medical Waste, E-waste, and Agriculture Waste}), by Depolymerization Type (Thermal Degradation {Pyrolysis, Gasification, and Hydrogenation}, Catalytic Degradation), by Fuel Type...
The Plastic-to-Fuel (PTF) Market was estimated at US$ 566.52 million in 2022 and is expected to grow at a CAGR of 2.6% during 2023-2028 to reach US$ 662.77 million by 2028.
Plastic-to-fuel is a technology that transforms non-recyclable plastic waste into energy sources like liquid fuels or synthetic gases. It typically involves pyrolysis or gasification, where heat and pressure break down plastic waste into smaller hydrocarbon molecules. These hydrocarbons can be refined into fuels like diesel or gasoline.
This technology offers environmental benefits by reducing plastic waste in landfills and oceans and providing an alternative energy source that diminishes reliance on fossil fuels. However, challenges include cost-effectiveness, proper waste sorting, and concerns about emissions and environmental impact. Despite these challenges, plastic-to-fuel presents a promising approach to addressing plastic pollution and meeting energy demands while promoting a more sustainable and circular economy.
Market Drivers
The surge in requirement for high-quality fuel products globally, depletion of fuel sources coupled with the flourishing cleantech industry, and growing concerns towards GHG emission from fuel-making sectors are the major factors driving the growth of the plastic-to-fuel (PTF) market during the forecast period.
Segments Analysis
Want to get more details about the segmentations? Register Here
By Source Type
The plastic-to-fuel market is segmented as municipal solid waste, industrial, and others. Municipal solid waste is estimated to be the leading source typein the market during the forecast period owing to the increasing industry size in Latin America and the Middle East because of the high amount of waste generated from household & municipal sectors.
Further, the availability of feedstock material and the cost of obtaining plastic wastes are expected to have an impact on the consumption trends of municipal solid wastes boosting the growth of the industry over the forecast period.
By Depolymerization Type
The market is segmented into thermal degradation and catalytic degradation. The thermal degradation is further segmented as pyrolysis, gasification, and hydrogenation. Thermal pyrolysis is estimated to witness a significant growth rate in the market owing to increasing demand for liquid fuel in the end-user industry coupled with the cost-effectiveness of pyrolysis as compared to other thermal degradation technologies during the forecast period.
This process involves the thermal decomposition of plastics in the absence of oxygen and enables the reuse of energy and raw materials of the waste which decreases the environmental impact of improper disposal of waste, fueling the market growth over the forecast period.
By Fuel Type
The market is segmented as solid, liquid, and gaseous. The liquid fuel market is estimated to hold the largest share of the market owing to a growing inclination towards sustainability for increasing penetration of liquid fuel during the forecast period.
Further, the shifting attention of oil producers towards the utilization of plastic-to-fuel owing to growing concerns about high quality & sustainability among plastic producers is expected to have a positive influence on the liquid fuel in the industry, fueling the market growth during the forecast period.
Regional Analysis
In terms of regions, Europe is estimated to account for the major share of the market during the forecast period, owing to the presence of multiple plastic-to-fuel conversion facilities offering high recycling and energy recovery rates from plastic waste in the region.
Moreover, Europe is also focusing on reducing the emission of GHG by 40% from the 1990 levels, boosting the growth of renewable & cleantech sectors, eventually fueling the growth of the regional market over the forecast period. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Want to know which region offers the best growth opportunities?Register Here
Key Players
Some of the key players in the plastic-to-fuel (PTF) market are-
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players and those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Plastic-to-Fuel (PTF) Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market Segment Analysis and Forecast
Who are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirements?
10% free customization
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to 3 players).
SWOT analysis of key players (up to 3 players).
Market Segmentation
Current market segmentation of any one of the product types by application type.
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.
LOADING
LOADING
×
Please enter your contact details. It will allow our analysts to reach out to you.
Vadxx Energy, Plastic2Oil, Inc., RES Polyflow, Green Envirotec Holdings LLC, UNITRON Energy Systems Pvt. Ltd., Siemens Gamesa Renewable Energy S.A., Agilyx Corporation, JBI Inc., Nexus Fuels, LLC, and CBS Technologies are among the key players in the plastic-to-fuel (PTF) market.
