Plastic to Fuel Market Trends and Forecast up to 2028

According to the new research report published by The Insight Partners, titled "Plastic to Fuel Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Technology and End Product," the plastic to fuel market is expected to grow from US$ 3,645.23 million in 2022 to US$ 8,804.20 million by 2028; it is estimated to grow at a CAGR of 15.8% from 2021 to 2028.

Plastic to fuel technologies have a lot of opportunities in Asia Pacific. Several countries in Asia Pacific are major manufacturers and illicit dumpers of plastic waste. When it comes to poor plastic waste management, China is among the leading countries. Tons of plastic waste is also imported from other nations. However, China's strict policies in the recent times toward recycling plastic has led the country to experience numerous companies to venture into plastic to fuel market. This has positioned the country the top revenue generator in APAC region. Also, coupled with China, other two countries Japan and South Korea has been at the forefront to produce fuel from plastics. This has stationed APAC region on the top of the regions in the plastic to fuel market analysis.

In Europe, the high lifestyle of people in the region coupled with the rise in tourism across countries like UK, France, Italy and Spain amongst others is increasing the plastic consumption across the country. This is adding to the rise in plastic waste generated by Europe. Also, technological integration in waste management is high across the region thereby enabling companies to segregate plastic waste from the waste generation source. Further investments in R&D on different plastic recycling technology is also influencing the plastic to fuel market growth.

The global plastic to fuel market is bifurcated on the basis of technology and end product. The market, based on technology, is segmented into pyrolysis, gasification, and depolymerization. By end product, the market is segmented into crude oil, hydrogen, and others. Based on geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (China, India, South Korea, Japan, Australia, and the Rest of APAC), and Rest of World.

Get PDF Sample at @ https://www.theinsightpartners.com/sample/TIPRE00008127/?utm_source=OpenPR&utm_medium=10655

The COVID-19 pandemic has created significant tremors on various industries, including the plastic recycling industry. The plastic recyclers experienced a drop in plastic procurement, thereby resulting in decline in recycled product volume. In addition, the regulations related to lockdown and social distancing implemented by various governments across the world had created the scarcity of labor at the plastic recycling units worldwide. This also reflected lower volume of production. Owing to the factors mentioned above, the plastic recycling industry has been impacted negatively, which has restrained the growth of the plastic to fuel market size.

To tackle the COVID-19 situation and continue the operations at the plastic to fuel production units, the plastic to fuel market players adopted a few strategies such as mergers and acquisition, upscaling funding, and expansion to untapped geographies. These strategies benefitted the market players in the second half of 2020. However, the decline in revenues during the initial period of the outbreak hindered the annual sales of market players. This ultimately have had an adverse impact on the plastic to fuel market size.

Agilyx; Klean Industries Inc.; nexus FUELS, LLC; Plastic2Oil, Inc.; Cassandra Oil AB; Bradam Group, LLC.; RESYNERGI; MK Aromatics Limited; Plastic Advanced Recycling Corp.; and OMV Aktiengesellschaft are among the major companies operating in the plastic to fuel market.

Order a copy of this research study at - https://www.theinsightpartners.com/buy/TIPRE00008127/?utm_source=OpenPR&utm_medium=10655

Get More Related Link - https://www.marketwatch.com/press-release/commercial-aviaiton-sensors-switches-market-analysis-by-industry-perspective-comprehensive-analysis-growth-and-forecast-2028-2022-11-25?mod=search_headline

Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.