Plastics-To-Fuel (PTF) Market Size

Plastics-To-Fuel Market Size

Plastics-To-Fuel Market size was valued at USD 572.7 million in 2019 and is estimated to exhibit over 2.5% CAGR from 2020 to 2026. Depleting availability of fuel sources along with flourishing cleantech industry and Emerging regulations for GHG emissions from petrochemical industries & refineries will create growth potential for PTF demand.

The Plastics-To-Fuel (PTF) market is a part of the circular economy model, that thrives to produce high-quality plastic products from wastes. The technology is highly capital-intensive and Return-On-Investment (ROI) period for the market generally varies from two to five years. However, the industry is witnessing an increasing number of manufacturers in the U.S. and Europe owing to well-established infrastructure for waste management.

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Presence of stringent government regulatory norms in regions including Europe is supporting the adoption of plastic to fuel technology. Major countries including Germany, France, Italy, and Denmark have reported a substantially high degree of recycling & energy recovery rate along the plastic waste disposal value chain. In 2016, Germany reported the energy recovery rate of post-consumer plastic waste and plastics packaging waste at 60.6% and 58% respectively.
 

The growth factors responsible for such a high recovery rate are subjected to the EU waste legislation, that mandates countries to recycle plastic wastes, a minimum of 55% by 2025. Such trends have opened new avenues for plastic to fuel manufacturers over the last few years. These plastics to fuel market manufacturers can expand their cooperation with plastic converters and recyclers to increase the waste recovery rate in Europe, further contributing to industry development. The market for plastic waste pyrolysis oil to witness 5.3% growth during the forecast period.