Plastic-to-Fuel (PTF) Market

Plastic-to-Fuel (PTF) Market

Global Industry Analysis (2018 - 2020) - Growth Trends and Market Forecast (2021 - 2026)

Published Date: Dec 2021 | Format: | No. of Pages: 138

Industry: Energy & Natural Resources | Author Name: Hrishikesh

Plastics-to-Fuel Technologies Complement Recycling Initiatives

The global plastic-to-fuel (PTF) market was valued at US$900.3 Mn in 2020 and is anticipated to be worth US$1,884.3 Mn in 2026, registering a CAGR of 13.8% during the forecast period.

Plastic-to-fuel technologies complement plastic recycling initiatives by converting non-recycled plastics into valuable products. These technologies offer the opportunity to reduce greenhouse gas emissions by up to 60%-70% over new forms of crude oil extraction. Companies are transforming used, non-recycled plastics into fuel and petroleum-based products. These plastic-to-fuel technologies are being embraced as a way to recover clean energy from plastics that cannot be economically recycled.

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Growing interest and investments in plastic-to-fuel technologies can reduce the amount of waste sent to landfills and generate fuel and other useful products to help power America’s transportation system and local economies. The end-of-life management option exists for non-recycled plastics: conversion of scrap plastics to either chemical feedstock or fuel. These conversion technologies rely on the processes of depolymerization and pyrolysis, respectively.

Plastic-to-Fuel (PTF) Market Expands With Efficient Management of Non-Recyclable Plastics

Concerns regarding excess landfilling of plastics, strict regulation on illegal dumping of plastic waste followed by enhancement of plastic recycling rates and government support and funding is expected to drive the demand for PTF technologies.  Also, fuel derived from PTF facilities provides an alternate way of generating fossil fuel from waste plastic stream.

Currently, efficient management of non-recyclable plastics such as polystyrene, polyethylene terephthalate (PET), polyvinyl chloride (PVC), etc remains the key concern. More than 90% of plastic are still not recycled and are dumped, landfilled, or simple drained in the ocean. This means only 9-10% of waste plastics has been collected and recycled. This provides immense opportunity of plastic-to-fuel market as recycling of these waste plastics would generate non-recyclable waste plastics which can be utilized in PFT in the near future. Thus, recovery of non-recyclable plastics from recycling facilities and new/landfill sources is expected to boost the demand for PTF facilities.

Fragmented Waste Collection Systems Dissuades Proper Utilization of Plastic-to-Fuel Technologies

Key restraint in the global plastic-to-fuel market includes weak waste collection system and declining prices of crude oil followed by COVID-19 outbreak, which has de-railed several PTF projects across the globe. Strong infrastructure and services required for proper waste collection, segregation, and sorting is still awaited in some nations. Also, segregation of plastics from overall waste generated each year is the key hurdle which may hamper the growth potential of plastic-to-fuel market.

COVID-19 outbreak has impacted the entire supply chain of waste collection, segregation, and disposal. This has created waste plastic accumulation. During the pandemic, personal protective equipment (PPE) led to increased plastic pollution. At the regional and national levels, prioritization of human health over environmental health has led to the delay or reversal of policies aiming to reduce single-use plastic. To add to it, declining prices of crude oil during the pandemic has resulted in lower profit margins for alternate fuel produced through PTF route. Furthermore, due to lower price of crude oil, manufacturers of virgin plastics from fossil fuels became less expensive than recycled plastics. As a result, lower profit margins have led to the demand for plastic recycling along with PTF has dropped, and the environmental footprint of plastics has increased.

Pyrolysis has an Edge Over Other Technologies in Plastic-to-Fuel (PTF) Market

Pyrolysis is regarded as a conventional technology for PTF which constituted more than 56% share in 2020. Also, numerous vendors of system and equipment parts are available in the market which minimizes breakdown and delays in operations. Pyrolysis is a thermal decomposition (normally operating at around 400 to 500°C) process occurring in the absence of oxygen. In pyrolysis, the treated plastic feedstock is often transferred into the pyrolysis reactor by means of a feed screw or a plug, to ensure oxygen is excluded. There are 3 products derived post pyrolysis process; a gas, a liquid and a solid, although the percentage of each can be varied dependent on the temperature and material feedstock.

Europe to Continue Dominance in Global Plastic-to-Fuel (PTF) Market

Europe constituted 85.9% market share of the global plastic-to-fuel market in 2020. In terms of investments in PTF technologies, North America, especially the U.S. has been constantly laying regulations related to non-recyclable waste plastics. The country is expected to add more PTF facilities in the near future. On August 2020, UK’s first waste plastic to hydrogen facility near Ellesmere port in Cheshire, has taken a big step forward, with the completion of the front-end engineering design (FEED) phase.

Developed countries, especially those in Europe, have imposed landfill bans on plastic waste in order to recover and recycle plastic wastes. In 2016, 10 countries in the European Union banned the dumping of plastic waste in landfills. These countries recorded significant rise in the plastic recovery rate after the imposition of the ban. The key concern is the disposal of non-recycled plastic recovered after recycling process. The best way is to derive fuel out of the non-recycled plastics rather than landfilling. This is anticipated to drive the regional plastic-to-fuel market throughout the forecast period.

In North America, the U.S. Government has several programs for the collection and sorting of plastic waste. However, the plastic recycling rate in the region is significantly low (below 10%). Thus, the region exhibits a high potential for plastic to fuel technologies in the near future.

Asia Pacific has high potential for P2F technologies. Asia Pacific houses several nations which are dominant producers and illegal dumpers of plastic waste. China is the leader when it comes to improper management of plastic waste. The country also imports tonnes of plastic wastes from other countries.

Global Plastic-to-Fuel (PTF) Market: Competitive Landscape

Key players involved in the global plastic-to-fuel (PTF) market are Peel L&P Holdings (UK) Limited, Cynar Plc, ALTERRA ENERGY, Brightmark, Rudra Environmental Solutions, NEEDA GREEN ENERGY, Plastic2Oil, MK Aromatics, Agilyx, Klean Industries Inc., Johnson Matthey, RESYNERGI, Nexus, Global Renewable. L&P Holdings (UK) Limited is planning to develop 11 facilities across the UK in the next few years and has the option of exclusive rights to the Powerhouse Energy technology in the UK leading to over 70 facilities in total.

The Global Plastic-to-Fuel (PTF) Market is Segmented as Below:

Technology Coverage

  • Pyrolysis
  • Depolymerization

Feedstock Coverage

  • Polyethylene (PE)
  • Polypropylene (PP)
  • Polyvinylchloride (PVC)
  • Polyethylene Terephthalate (PET)
  • Others

Product Coverage

  • Diesel
  • Petroleum
  • Kerosene
  • Others (Residue & Produced Gas)

Geographical Coverage

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Rest of Asia Pacific

Leading Companies

  • ALTERRA ENERGY
  • Brightmark
  • Rudra Environmental Solutions
  • NEEDA GREEN ENERGY
  • Plastic2Oil
  • MK Aromatics
  • Agilyx
  • Klean Industries Inc.
  • Global Renewable
  • Johnson Matthey
  • RESYNERGI
  • Nexus
  • Peel L&P Holdings (UK) Limited
  • Cynar Plc

Inside This Report You Will Find:

1. Executive Summary
2. Market Overview
3. Plastic to Fuel (PTF) Facility: Cost Structure Analysis
4. Global Plastic-to-fuel (PTF) Market Outlook, 2018 - 2026
5. North America Plastic-to-fuel (PTF) Market Outlook, 2018 - 2026
6. Europe Plastic-to-fuel (PTF) Market Outlook, 2018 - 2026
7. Asia Pacific Plastic-to-fuel (PTF) Market Outlook, 2018 - 2026
8. Competitive Landscape
9. Appendix

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1. Executive Summary
     1.1. Global Plastic-to-fuel (PTF) Market Snapshot
     1.2. Future Projections
     1.3. Key Market Trends
     1.4. Analyst Recommendations

2. Market Overview
     2.1. Market Definitions and Segmentations
     2.2. Market Dynamics
           2.2.1. Drivers
           2.2.2. Restraints
           2.2.3. Market Opportunities
           2.2.4. Economic Trends
     2.3. Value Chain Analysis
     2.4. Porter’s Five Forces Analysis & PEST Analysis
     2.5. Covid-19 Impact 
           2.5.1. Supply Chain
           2.5.2. End-user Customer Impact Analysis

3. Plastic to Fuel (PTF) Facility: Cost Structure Analysis
     3.1. Key Highlights
     3.2. List of Plastic-to-Fuel Operational Projects (Operator, Technology, Country, Number of Facilities, and Status)

4. Global Plastic-to-fuel (PTF) Market Outlook, 2018 - 2026
     4.1. Global Plastic-to-fuel (PTF) Market Outlook, by Technology, Value (US$ Mn), 2018 - 2026
           4.1.1. Key Highlights
                   4.1.1.1. Pyrolysis
                   4.1.1.2. Depolymerization
           4.1.2. BPS Analysis/Market Attractiveness Analysis, by Technology
     4.2. Global Plastic-to-fuel (PTF) Market Outlook, by Feedstock, Value (US$ Mn), 2018 - 2026
           4.2.1. Key Highlights
                   4.2.1.1. Polyethylene (PE)
                   4.2.1.2. Polypropylene (PP)
                   4.2.1.3. Polyvinylchloride (PVC)
                   4.2.1.4. Polyethylene Terephthalate (PET)
                   4.2.1.5. Others
           4.2.2. BPS Analysis/Market Attractiveness Analysis, by Feedstock
     4.3. Global Plastic-to-fuel (PTF) Market Outlook, by Product, Value (US$ Mn), 2018 - 2026
           4.3.1. Key Highlights
                   4.3.1.1. Diesel
                   4.3.1.2. Petroleum
                   4.3.1.3. Kerosene
                   4.3.1.4. Others
           4.3.2. BPS Analysis/Market Attractiveness Analysis, by Product
     4.4. Global Plastic-to-fuel (PTF) Market Outlook, by Region, Value (US$ Mn), 2018 - 2026
           4.4.1. Key Highlights
                   4.4.1.1. North America
                   4.4.1.2. Europe
                   4.4.1.3. Asia Pacific
           4.4.2. BPS Analysis/Market Attractiveness Analysis, by Region

5. North America Plastic-to-fuel (PTF) Market Outlook, 2018 - 2026
     5.1. North America Plastic-to-fuel (PTF) Market Outlook, by Technology, Value (US$ Mn), 2018 - 2026
           5.1.1. Key Highlights
                   5.1.1.1. Pyrolysis
                   5.1.1.2. Depolymerization
     5.2. North America Plastic-to-fuel (PTF) Market Outlook, by Feedstock, Value (US$ Mn), 2018 - 2026
           5.2.1. Key Highlights
                   5.2.1.1. Polyethylene (PE)
                   5.2.1.2. Polypropylene (PP)
                   5.2.1.3. Polyvinylchloride (PVC)
                   5.2.1.4. Polyethylene Terephthalate (PET)
                   5.2.1.5. Others
     5.3. North America Plastic-to-fuel (PTF) Market Outlook, by Product, Value (US$ Mn), 2018 - 2026
           5.3.1. Key Highlights
                   5.3.1.1. Diesel
                   5.3.1.2. Petroleum
                   5.3.1.3. Kerosene
                   5.3.1.4. Others
     5.4. North America Plastic-to-fuel (PTF) Market Outlook, by Country, Value (US$ Mn), 2018 - 2026
           5.4.1. Key Highlights
                   5.4.1.1. U.S. Plastic-to-fuel (PTF) Market, Value (US$ Mn), 2018 - 2026
                   5.4.1.2. Canada Plastic-to-fuel (PTF) Market, Value (US$ Mn), 2018 - 2026

6. Europe Plastic-to-fuel (PTF) Market Outlook, 2018 - 2026
     6.1. Europe Plastic-to-fuel (PTF) Market Outlook, by Technology, Value (US$ Mn), 2018 - 2026
           6.1.1. Key Highlights
                   6.1.1.1. Pyrolysis
                   6.1.1.2. Depolymerization
     6.2. Europe Plastic-to-fuel (PTF) Market Outlook, by Feedstock, Value (US$ Mn), 2018 - 2026
           6.2.1. Key Highlights
                   6.2.1.1. Polyethylene (PE)
                   6.2.1.2. Polypropylene (PP)
                   6.2.1.3. Polyvinylchloride (PVC)
                   6.2.1.4. Polyethylene Terephthalate (PET)
                   6.2.1.5. Others
     6.3. Europe Plastic-to-fuel (PTF) Market Outlook, by Product, Value (US$ Mn), 2018 - 2026
           6.3.1. Key Highlights
                   6.3.1.1. Diesel
                   6.3.1.2. Petroleum
                   6.3.1.3. Kerosene
                   6.3.1.4. Others
     6.4. Europe Plastic-to-fuel (PTF) Market Outlook, by Country, Value (US$ Mn), 2018 - 2026
           6.4.1. Key Highlights
                   6.4.1.1. U.K. Plastic-to-fuel (PTF) Market, Value (US$ Mn), 2018 - 2026
                   6.4.1.2. Spain Plastic-to-fuel (PTF) Market, Value (US$ Mn), 2018 - 2026
                   6.4.1.3. Rest of Europe Plastic-to-fuel (PTF) Market, Value (US$ Mn), 2018 - 2026

7. Asia Pacific Plastic-to-fuel (PTF) Market Outlook, 2018 - 2026
     7.1. Asia Pacific Plastic-to-fuel (PTF) Market Outlook, by Technology, Value (US$ Mn), 2018 - 2026
           7.1.1. Key Highlights
                   7.1.1.1. Pyrolysis
                   7.1.1.2. Depolymerization
     7.2. Asia Pacific Plastic-to-fuel (PTF) Market Outlook, by Feedstock, Value (US$ Mn), 2018 - 2026
           7.2.1. Key Highlights
                   7.2.1.1. Polyethylene (PE)
                   7.2.1.2. Polypropylene (PP)
                   7.2.1.3. Polyvinylchloride (PVC)
                   7.2.1.4. Polyethylene Terephthalate (PET)
                   7.2.1.5. Others
     7.3. Asia Pacific Plastic-to-fuel (PTF) Market Outlook, by Product, Value (US$ Mn), 2018 - 2026
           7.3.1. Key Highlights
                   7.3.1.1. Diesel
                   7.3.1.2. Petroleum
                   7.3.1.3. Kerosene
                   7.3.1.4. Others
     7.4. Asia Pacific Plastic-to-fuel (PTF) Market Outlook, by Country, Value (US$ Mn), 2018 - 2026
           7.4.1. Key Highlights
                   7.4.1.1. China Plastic-to-fuel (PTF) Market, Value (US$ Mn), 2018 - 2026
                   7.4.1.2. India Plastic-to-fuel (PTF) Market, Value (US$ Mn), 2018 - 2026
                   7.4.1.3. Rest of Asia Pacific Plastic-to-fuel (PTF) Market, Value (US$ Mn), 2018 - 2026

8. Competitive Landscape
     8.1. Company Market Share Analysis, 2019
     8.2. Strategic Collaborations
     8.3. Company Profiles
           8.3.1. ALTERRA ENERGY
                   8.3.1.1. Company Overview
                   8.3.1.2. Product Portfolio
                   8.3.1.3. Financial Overview 
                   8.3.1.4. Business Strategies and Development
           8.3.2. Brightmark
                   8.3.2.1. Company Overview
                   8.3.2.2. Product Portfolio
                   8.3.2.3. Financial Overview 
                   8.3.2.4. Business Strategies and Development
           8.3.3. Rudra Environmental Solutions
                   8.3.3.1. Company Overview
                   8.3.3.2. Product Portfolio
                   8.3.3.3. Financial Overview 
                   8.3.3.4. Business Strategies and Development
           8.3.4. NEEDA GREEN ENERGY
                   8.3.4.1. Company Overview
                   8.3.4.2. Product Portfolio
                   8.3.4.3. Financial Overview 
                   8.3.4.4. Business Strategies and Development
           8.3.5. Plastic2Oil
                   8.3.5.1. Company Overview
                   8.3.5.2. Product Portfolio
                   8.3.5.3. Financial Overview 
                   8.3.5.4. Business Strategies and Development
           8.3.6. MK Aromatics
                   8.3.6.1. Company Overview
                   8.3.6.2. Product Portfolio
                   8.3.6.3. Financial Overview 
                   8.3.6.4. Business Strategies and Development
           8.3.7. Agilyx
                   8.3.7.1. Company Overview
                   8.3.7.2. Product Portfolio
                   8.3.7.3. Financial Overview 
                   8.3.7.4. Business Strategies and Development
           8.3.8. Klean Industries Inc.
                   8.3.8.1. Company Overview
                   8.3.8.2. Product Portfolio
                   8.3.8.3. Financial Overview 
                   8.3.8.4. Business Strategies and Development
           8.3.9. Global Renewable
                   8.3.9.1. Company Overview
                   8.3.9.2. Product Portfolio
                   8.3.9.3. Financial Overview 
                   8.3.9.4. Business Strategies and Development
           8.3.10. Johnson Matthey
                   8.3.10.1. Company Overview
                   8.3.10.2. Product Portfolio
                   8.3.10.3. Financial Overview 
                   8.3.10.4. Business Strategies and Development
           8.3.11. RESYNERGI
                   8.3.11.1. Company Overview
                   8.3.11.2. Product Portfolio
                   8.3.11.3. Financial Overview 
                   8.3.11.4. Business Strategies and Development
           8.3.12. Nexus
                   8.3.12.1. Company Overview
                   8.3.12.2. Product Portfolio
                   8.3.12.3. Financial Overview 
                   8.3.12.4. Business Strategies and Development
           8.3.13. Cynar Plc
                   8.3.13.1. Company Overview
                   8.3.13.2. Product Portfolio
                   8.3.13.3. Financial Overview 
                   8.3.13.4. Business Strategies and Development
           8.3.14. Peel L&P Holdings (UK) Limited
                   8.3.14.1. Company Overview
                   8.3.14.2. Product Portfolio
                   8.3.14.3. Financial Overview 
                   8.3.14.4. Business Strategies and Development

9. Appendix
     9.1. Research Methodology
     9.2. Report Assumptions
     9.3. Acronyms and Abbreviations

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2020

2018 - 2019

2021 - 2026 

Value: US$ Million

 

REPORT FEATURES

DETAILS

Technology Coverage

  • Pyrolysis
  • Depolymerization

Feedstock Coverage

  • Polyethylene (PE)
  • Polypropylene (PP)
  • Polyvinylchloride (PVC)
  • Polyethylene Terephthalate (PET)
  • Others

Product Coverage

  • Diesel
  • Petroleum
  • Kerosene
  • Others (Residue & Produced Gas)

Geographical Coverage

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Rest of Asia Pacific

Leading Companies

  • ALTERRA ENERGY
  • Brightmark
  • Rudra Environmental Solutions
  • NEEDA GREEN ENERGY
  • Plastic2Oil
  • MK Aromatics
  • Agilyx
  • Klean Industries Inc.
  • Global Renewable
  • Johnson Matthey
  • RESYNERGI
  • Nexus
  • Peel L&P Holdings (UK) Limited
  • Cynar Plc

Report Highlights

Key Market Indicators, Macro-micro economic impact analysis, Technological Roadmap, Key Trends, Driver, Restraints, and Future Opportunities & Revenue Pockets, Porter’s 5 Forces Analysis, PEST Analysis, Historical Trend (2018-2019), Cost Structure Analysis, Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Category, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain)

 

FAQs : Plastic-to-Fuel (PTF) Market

Rising awareness about environmental protection followed by recovery of marketable fuel from plastic waste is expected to trigger investments into plastic-to-fuel technologies in the near future.

Global top 5 players in plastics-to-fuel (PTF) market includes: Peel L&P Holdings (UK) Limited, Plastic2Oil, Cynar Plc, Agilyx, and Klean Industries Inc.

Europe dominated and constituted more than 85% share of the global plastics-to-fuel (PTF) the market in 2020. In terms of CAGR, Asia Pacific remains the most lucrative markets for Plastics-to-fuel (PTF).

In terms of technology, pyrolysis remains the dominant technology utilized in converting/processing waste plastic to fuel. In 2020, pyrolysis technology constituted more than 56% share of the global plastics-to-fuel (PTF) market.

The global plastic waste management industry has been significantly affected by the containment of the spread of COVID-19 pandemic and limitations on commercial activities, mobility and manufacturing sector. Sudden halt in plastic waste collection and proper segregation has affected the continuous supply of raw material to plastic-to-fuel facilities.

Our Research Methodology

Under uncertainty, traditional approaches to strategic planning can be downright dangerous. True ambiguity is no basis to forecast the future – degree of risk, the magnitude of circumstances, conditions and consequences are not known or unpredictable. To avoid dangerous binary views of uncertainty; strategic posture, moves and actions through market research is the best bet.

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