Published by Coherent Market Insights
Posted on September 22, 2021
Plastic-to-fuel is an advanced technology used to convert plastic waste into liquid fuels in order to deliver environmental benefits. This process involves the development of ultra-clean and ultra-low sulfur fuel from unsorted waste plastic. In this process plastic are shredded and heated under the temperature of 400 deg Celsius in an oxygen-free chamber, the process known as pyrolysis. Automotive, food & beverage, petrochemical, agricultural, and cosmetics are major end-user of plastic-to-Fuel.
The U.S. Plastic-to-Fuel market is projected to surpass US$ 150.0 million by the end of 2027, in terms of revenue, growing at CAGR of 6.8% during the forecast period (2020 to 2027).
Top Key Players in U.S. Plastic-to-Fuel market: Plastic2Oil, Agilyx Corporation,Vadxx Energy, and Green Envirotec Holdings
Regional Analysis For U.S. Plastic-to-Fuel Market:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the U.S. Plastic-to-Fuel market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
The high initial cost of the setup is predicted to hinder the market growth of the U.S. Plastic-to-Fuel. As per estimates by the American Chemistry Council, one plastic-to-oil facility will incur a cost of between US$ 10 Million to US$ 18 Million. Moreover, pre-processing of waste plastic is another major factor that adds to the general cost.
Plastic-to-fuel isn’t eligible for recycling approvals, consistent with the Federal, local and state governments this project doesn’t fall into the category of recycling and hence not eligible for recycling approval. This factor is predicted to hinder the expansion of the plastic-to-fuel market.
Growing demand for petroleum products is expected to offer lucrative growth opportunity to the market of the U.S. plastic-to-fuel. According to the U.S. Energy Information Administration, gasoline is the most consumed petroleum product in the United States. In 2018, consumption of finished motor gasoline averaged about 9.33 million b/d (392 million gallons per day), which was equal to about 45% of total U.S. petroleum consumption.
Growth in the cosmetic industry in the country due to increasing sale of cosmetic products is projected to provide potential opportunity to the market of the U.S. plastic-to-fuel market. Petroleum products are widely used in the manufacturing of cosmetic products. Hence, growth in the cosmetic industry in the U.S. country is projected to augment market growth.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post U.S. Plastic-to-Fuel market global industry size, growth, emerging trends, business opportunities appeared first on Gatorledger.
Plastic-to-fuel is an advanced technology used to convert plastic waste into liquid fuels in order to deliver environmental benefits. This process involves the development of ultra-clean and ultra-low sulfur fuel from unsorted waste plastic. In this process plastic are shredded and heated under the temperature of 400 deg Celsius in an oxygen-free chamber, the process known as pyrolysis. Automotive, food & beverage, petrochemical, agricultural, and cosmetics are major end-user of plastic-to-Fuel.
The U.S. Plastic-to-Fuel market is projected to surpass US$ 150.0 million by the end of 2027, in terms of revenue, growing at CAGR of 6.8% during the forecast period (2020 to 2027).
Top Key Players in U.S. Plastic-to-Fuel market: Plastic2Oil, Agilyx Corporation,Vadxx Energy, and Green Envirotec Holdings
Regional Analysis For U.S. Plastic-to-Fuel Market:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the U.S. Plastic-to-Fuel market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
The high initial cost of the setup is predicted to hinder the market growth of the U.S. Plastic-to-Fuel. As per estimates by the American Chemistry Council, one plastic-to-oil facility will incur a cost of between US$ 10 Million to US$ 18 Million. Moreover, pre-processing of waste plastic is another major factor that adds to the general cost.
Plastic-to-fuel isn’t eligible for recycling approvals, consistent with the Federal, local and state governments this project doesn’t fall into the category of recycling and hence not eligible for recycling approval. This factor is predicted to hinder the expansion of the plastic-to-fuel market.
Growing demand for petroleum products is expected to offer lucrative growth opportunity to the market of the U.S. plastic-to-fuel. According to the U.S. Energy Information Administration, gasoline is the most consumed petroleum product in the United States. In 2018, consumption of finished motor gasoline averaged about 9.33 million b/d (392 million gallons per day), which was equal to about 45% of total U.S. petroleum consumption.
Growth in the cosmetic industry in the country due to increasing sale of cosmetic products is projected to provide potential opportunity to the market of the U.S. plastic-to-fuel market. Petroleum products are widely used in the manufacturing of cosmetic products. Hence, growth in the cosmetic industry in the U.S. country is projected to augment market growth.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post U.S. Plastic-to-Fuel market global industry size, growth, emerging trends, business opportunities appeared first on Gatorledger.
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