The Plastic-to-Fuel (PTF) Market is expected to grow at > 5.0% during 2021-2026, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Plastic-to-Fuel (PTF) Market
Plastic-to-Fuel (PTF) Market is likely to witness a CAGR of 5.0% during the forecast period. Surge in requirement for high quality fuel products globally, depletion of fuel sources coupled with 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.
Europe is estimated to account for the major share of the market during the forecast period, owing to presence of multiple plastic-to-fuel conversion facilities offering high recycling and energy recovery rate from plastic wastes 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.
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Market Scope & Market Segmentation
Plastic-to-Fuel (PTF) Market Share: By Source Type
Based on the source type, the market is segmented as municipal solid waste, industrial, and others. Municipal solid waste is estimated to be the leading source type in the market during the forecast period owing to increasing industry size in Latin America and the Middle East because of high amount of wastes 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.
Plastic-to-Fuel (PTF) Market Share: By Depolymerization Type
Based on the depolymerization type, the market is segmented as thermal degradation and catalytic degradation. The thermal degradation is further segmented as pyrolysis, gasification, and hydrogenation. Thermal pyrolysis is estimated to witness 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 thermal decomposition of plastics in the absence of oxygen and enables the reuse of energy and raw materials of the waste which decrease the environmental impact of improper disposal of waste, fueling the market growth over the forecast period.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
- What is the impact of COVID-19 on the market forecast?
- What are the trends, drivers, and challenges?
- How competitive is the market? Who are the market leaders?
- What are the key strategies adopted by the market players?
- Which segments offer the greatest opportunities?
- Which are the most attractive regions?
- What are the key success factors for the market players?
- How does the business environment impact the market?
- Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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