Plastic-to-Fuel (PTF) Market 2021 Emerging Trends, CAGR Status, Growth, Analysis and Forecast to 2026

Plastics-to-fuel (PTF) technology plays an important role in complementing plastic recycling by converting non-recycles plastic into reusable products, reducing greenhouse emissions by significant amounts. Companies seek to transform non-recycled plastics into petroleum products and plastics-to-fuel technology is well-suited to this, raising the profile of the plastics-to-fuel market. Greater investment in this modern technology can lessen landfill waste and generate fuel in a cleaner manner, powering both local and national economies. Non-recycled plastics can even be converted into chemical feedstocks or throw away plastics through pyrolysis or depolymerization.

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Improper Dumping in Oceans Provides Ample Opportunities for Plastics-to-fuel Companies

Increasing concerns about plastic landfills, robust regulations on illegal dumping, and a governmental push towards recycling plastic correctly should fuel the demand for plastic-to-fuel technology. Furthermore, fuel extracted from plastic-to-fuel units provides a compelling alternative of generating fossil fuels from plastic waste. The efficient management of polyvinyl chloride (PVC), polyethylene terephthalate (PET), and polystyrene is a huge concern amongst environmentalists and policymakers. The vast majority of plastic is not properly disposed of and is landfilled, dumped, or drained directly into oceans.

Pyrolysis Reduces Delays and Breakdowns Explaining its Lead in the Plastics-to-fuel Market

Pyrolysis is the conventional form of technology and is more widely available in the plastics-to-fuel market, minimizing breakdowns and delays. Pyrolysis is a form of thermal decomposition occurring without any oxygen. In pyrolysis, the treated plastic is sent to the reactor through a feed plug, ensuring that oxygen is completely removed from the process. Pyrolysis results in three products - a solid, liquid, and gas, and the percentage of each varies according to the material feedstock and temperature.

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Lack of Infrastructure and Falling Crude Prices Stifle Growth in Plastics-to-fuel Market

The two key restraints to overcome in the plastics-to-fuel market are the plummeting prices of crude due to COVID-19 and an inadequate waste collection system. Developing nations lack proper infrastructure necessary for plastic waste collection, segregation, and sorting. In addition, the segregation of plastics from other waste is a huge hurdle in the plastics-to-fuel market. COVID-19 has massively impacted global supply chains and culminated in immense plastic waste accumulation at production sites. The surge in demand for personal protective equipment (PPE) kits has hugely contributed to plastic pollution. A global pandemic leads to a prioritization of human health over environmental health, and several policies aiming to lower the use of single-use plastic have been delayed or reversed. The falling prices of crude oil have lowered profit margins of alternate fuels produced through the PTF route. The manufacturing of virgin plastics has become more cost-effective than recycled plastics and the demand for plastic recycling has plunged, and companies in the plastics-to-fuel market will have to account for this.

Companies actively involved in the plastics-to-fuel market include Plastic2Oil, Powerhouse Energy technology,cMK Aromatics, PolyCycl, Klen Industries, Nexus Fuel, Vadxx Energy, Agile Process Chemicals LLP, Beston (Henan) Machinery Co. ltd., and Others. Peel L&P Environmental has aims to build 11 units in the UK with exclusive rights to Powerhouse Energy technology in the island nation.

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