Fairfield Market Research finds that the total market worth of the global plastic-to-fuel market would reach US$ 1, 884.3 million in 2026, increasing from a market value of US$ 900 million in 2020
Popular Industrial Sentiment to Efficiently Manage Non-Recyclable Plastics Drives Market Expansion
Inefficient and illegal management of non-recyclable plastics is the foremost growth driver across the global plastics-to-fuel market. Improper dumping of plastic creates large amounts of toxic waste, harming the environment and national commitments towards waste management. As a result, effective handling of non-recyclable plastics and recovering them from landfills are a top priority for climate-conscious governments. Various public policies and regulations have been formulated to support plastic waste management – a move that helps to draw investments in this sector. The twin forces of these factors, i.e. increased funding and favorable policies, are projected to substantially augment growth in the plastic-to-fuel market over the assessment period.
Moreover, PTF-generated fuel can also be utilized as an alternative to fossil fuel. Given the rising concerns over depleting natural resources, this is expected to steadily expand the plastic-to-fuel market. Currently, among all the technologies used for plastic-to-fuel conversion, pyrolysis is the most extensively chosen by waste management vendors. However, despite these promising developments in the PTF market, concerns over fragmented waste collection systems, fluctuating crude oil prices, and weak supply chains can hamper the growth of the global plastic-to-fuel market in the foreseeable future.
Europe Emerges as the Strongest Contender in the Global PTF Market
Europe, followed by North America, has emerged as the leading force in the plastic-to-fuel market. The two regions consist of a resilient PTF market infrastructure and also have sound regulations supporting research and funding in this market. Presence of prominent waste management companies in Europe and North America further creates scope for consistent growth across their regional PTF markets.
Major players in the global plastic-to-fuel market include Alterra Energy, Needa Green Energy, Resynergi, Brightmark, Peel L&P Holdings (UK) Limited, Rudra Environmental Solutions, MK Aromatics, Klean Industries Inc., Johnson Matthey, Global Renewable. L&P Holdings (UK), Nexus, and Plastic2Oil.
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