Recycled Plastic and Plastic Waste to Oil - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Recycled Plastic and Plastic Waste to Oil Market is accounted for $47.29 million in 2019 and is expected to reach $112.96 million by 2027 growing at a CAGR of 11.5% during the forecast period. Excess addiction on fossil fuel is the major factor propelling the market growth. However, the lack of responsiveness about plastic misuse to oil equipment is hampering the market growth.
Recycled plastic and plastic waste to oil can be defined as equipment that is used to convert non-recycled plastic into artificial crude oil and other value-added petroleum products such as diesel, naphtha, and fuel oil. This is a highly developed waste exchange technology that is considered balancing to the existing plastic recycling technology. This technology has high potential, as landfill-bound plastics can be used as a resource to increase a valuable alternative fuel source.
Based on the technology, the pyrolysis process segment is estimated to have a lucrative growth due to the process of using heat in an oxygen-starved atmosphere to translate plastic waste into artificial oil and gas, with minimized discharge of greenhouse gases. This process doesn’t serve as a cost-effective process, as the normal protection of reactors and their downtime is costly. These reactors need a stable and consistent supply of premium-quality feedstock to function efficiently.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to rise in the focus on reducing the adverse impacts of climate change, and strict regulations pertaining to plastic waste management. This region is accounted for share of the market, in terms of revenue, due to the presence of an extensive manufacturing base across the region.
Some of the key players profiled in the Recycled Plastic and Plastic Waste to Oil Market include Nexus Fuels, OMV Aktiengesellschaft , PLASTIC ENERGY , Plastic Advanced Recycling Corporation, MK Aromatics Limited, Vadxx Energy LLC, RES POLYFLOW, Plastic2Oil Inc. (JBI Inc.), Agile Process Chemicals LLP, Northwood Exploration Israel Ltd, Agilyx, Inc., Niutech, Cynar Plc and Clean Blue Technologies Inc.
• Synthetic Gases
• Catalytic Depolymerization Process
• Gasification and Synthesis Process
• Pyrolysis Process
Plastic Types Covered:
• Polypropylene (PP)
• Polystyrene (PS)
• Polyethylene (PE)
• Polyethylene Terephthalate (PET)
• Polyvinyl Chloride (PVC)
• Waste Treatment Plant
• Chemical Plant
Marketing Channels Covered:
• Traditional Marketing Channel (Offline)
• Online Channel
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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