The global U.S. Plastic-to-Fuel Market Growth Accelerated by Adoption of Advanced Technologies

U.S. Plastic-to-Fuel Market 


Plastic-to-fuel is a chemical process that converts plastic waste into a liquid hydrocarbon fuel through thermal cracking and pyrolysis. It has emerged as an effective solution to address plastic pollution while meeting the increasing demand for alternative fuels. Plastic waste is broken down at high temperature in an oxygen-free environment to produce synthetic crude oil, diesel, gasoline and waxes. The global U.S. Plastic-to-Fuel Market is estimated to be valued at US$ 128.21 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends:

Advanced technologies such as pyrolysis have enabled efficient conversion of different types of plastic into liquid hydrocarbon fuels with low residue. Continuous technological advancements are helping plastic-to-fuel plants achieve higher fuel yields, process more plastic waste simultaneously and operate at larger commercial scales. For instance, advanced pyrolysis systems can now convert over 90% of plastic waste into synthetic crude oil, diesel and other valuable chemicals in a single step process. Major companies are actively investing in research & development to further optimize these technologies. This is expected to boost the adoption of plastic-to-fuel plants across the U.S. and worldwide, driving the market growth over the forecast period.

Segment Analysis

The U.S. plastic-to-fuel market is dominated by the chemical sub-segment. Chemical processing of plastics involves breaking down the long hydrocarbon chains in plastics into shorter hydrocarbon chains that can be utilized to produce transportation fuels like gasoline, diesel and jet fuel. This method accounts for over 60% of the market share as it allows for mass plastic waste processing into energy. Emerging technologies focused on biological and catalytic conversion are gaining traction but have not reached commercial scale yet due to the complexity of the processes involved.

Key Takeaways

The Global U.S. Plastic-To-Fuel Market Size is expected to witness high growth. Regional analysis related content comprises the Southeast region of the U.S. is expected to be the fastest growing market. States like Florida and Texas have implemented aggressive plastic recycling mandates and also have proximity to petroleum refineries that can process the plastic-derived fuels.

Key players related content comprises Key players operating in the U.S. plastic-to-fuel market are TAKARA BIO Inc., PHARMICELL Co., Ltd., MEDIPOST Co., Holostem Terapie Avanzate S.r.l, Bio-Rad Laboratories, Anterogen Co., Ltd., Osiris Therapeutics, Inc (Smith & Nephew PLC), Minaris Regenerative Medicine (Hitachi Chemical Co., Ltd.), Nikon CeLL Innovation Co. Ltd. (Nikon Corporation), Medinet Co. Ltd., Cell and Gene Therapy Catapult, Bio Elpida, Miltenyi Biotec, Pluristem Therapeutics Inc., Thermo Fischer Scientific, Merck Group, Corning Incorporated, Stem Cell Technologies, Lonza Group, Becton, Dickinson and Company, Sartorius, and Cellular Dynamics (Fujifilm Holdings Corporation, among others.

Explore more information on this topic, Please visit-

https://www.marketwebjournal.com/the-growing-waste-management-concerns-are-driving-the-u-s-plastic-to-fuel-market/ 

 

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