What is Plastic Fuel Technologies Market?
The growth of economy and consumes, combined with the modern models of production, have resulted in a constant increasing generation of waste plastics. The plastic materials are introduced into a reactor where they decompose at 400°C-600°C the major product of the process is an oily mixture of liquid hydrocarbons obtained through the condensation of the decomposed vapors. The highest percentage is given by containers, packaging, soft drinks, commonly and synthetized using non-renewable resources.
Highlights from Plastic Fuel Technologies Market Study
|Unit||Value (USD Million)|
|Key Companies Profiled||Recycling Technologies (United Kingdom), Johnson Matthey (United Kingdom), Fulcrum BioEnergy (United States), Hemp Plastic (United States), Resynergi (United States), Boyan Slat (Netherlands), Optomec (United States), Technical Data Analysis, Inc. (United States), Pyrocrat Systems (India), Tetramer Technologies (United States), QM Recycled Energy (United Kingdom), Vorbeck Materials (United States) and CTEC Energy (United Kingdom)|
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market. Research Analyst at AMA predicts that United Kingdom Vendors will contribute to the maximum growth of Global Plastic Fuel Technologies market throughout the forecasted period. Recycling Technologies (United Kingdom), Johnson Matthey (United Kingdom), Fulcrum BioEnergy (United States), Hemp Plastic (United States), Resynergi (United States), Boyan Slat (Netherlands), Optomec (United States), Technical Data Analysis, Inc. (United States), Pyrocrat Systems (India), Tetramer Technologies (United States), QM Recycled Energy (United Kingdom), Vorbeck Materials (United States) and CTEC Energy (United Kingdom) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Lucideon (fka Ceram) (United Kingdom), Argonne National (United States), Agilyx (United States), MacRebur (United Kingdom), BlueAlp (Netherlands) and Kiverdi (United States).
Plastic Fuel Technologies Market Segmentation:
|Recycling Type ||Mechanical,Chemical|
|Fuel Type ||Diesel,Petroleum,Kerosene,Solid Residue|
On the basis of geography, the market of Plastic Fuel Technologies has been segmented into . Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:It promises an economically and environmentally safe way to transform polyolefin plastic, the most common form of plastic, into gasoline, diesel fuel and other high-value items
Market Growth Drivers:Growing number of Technologies Promise to Recover an Increasing Portion of the Energy from used Plastics and The Growth of Economy and Consumes, Combined with the Modern Models of Production, have Resulted in a Constant Increasing Generation of Waste Plastics
Challenges:The recycle of plastic represents a challenge with the aim of save land (used for disposal) and reduce the production impact, i.e. raw-material utilization and emissions of greenhouse gases
Restraints:These materials to high temperatures can result in the release of nitrous oxides, sulfur dioxides, particulate matter, and other harmful pollutants
Opportunities:Developed an innovative way to convert plastics to ingredients for jet fuel and other valuable products, Growing Development of Recycling Techniques and Integral Strategies and Increasing New Number of Investors in Plastic Fuel Technologies like India
Key Target AudiencePlastic Fuel Technologies Manufactures, Government/Regulatory Bodies, Potential Investors, New Entrants, Research and Development Institutes and Others
Market Leaders & Development StrategiesOn 1st Jan 2022, Shell Retail and Convenience Operations LLC, a wholly owned subsidiary of Shell Oil Products US (Shell), has completed the acquisition of certain company-owned fuel and convenience retail sites from the Landmark group of companies. The acquisition also includes supply agreements for the independently operated fuel and convenience sites.
On 3rd Oct 2020, Brightmark's facility is the first of its kind in the US. It converts plastic waste into wax and eco-friendly fuels on a commercial scale, a process Brightmark hopes will revolutionize the plastic industry when it opens full time in 2021. We take a whole array of mixed waste that, until now, was not easily recyclable and reusable, and create circular economy solutions to some of our biggest environmental issues," founder and CEO Bob Powell told Business Insider.