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    Europe Plastics-To-Fuels (PTF) Market Size, By Source (Municipal Solid Waste (MSW), Industrial), By Depolymerization (Thermal Degradation [Pyrolysis, Gasification, Hydrogenation], Catalytic Degradation), By Fuel Type (Solid, Liquid, Gaseous), Industry Analysis Report, Country Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
    Published Date: October 2020   |   Report ID: GR1462   |   Delivery: PDF  Request Free Sample

    Industry Trends

    Europe Plastics-To-Fuels Market Share was over USD 270 million in 2019 and will grow at a CAGR of 3.1% up to 2026.

    Europe Plastics-To-Fuels Market

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    Strict regulatory environment associated with plastic waste management will trigger market growth. The countries have increased landfill tax rates to encourage plastic recycling practices. It will help in the minimization of plastic wastes and maximize further usages of recycled plastics. In the UK, landfill tax rates increased by nearly 1.3 times from 2009 to 2019. An increase in landfill tax rates has helped the UK government to reduce plastic waste disposal costs by saving landfill space. It resulted in a decrease in landfill sites by two-thirds in the last eight years. An increase in landfill tax rates will boost plastic recycling with the provision of environmental benefits. PlasticsEurope, an association of plastics manufacturers, started a “Zero Plastics to Landfill” initiative to reduce landfill wastes. The main objective of this initiative is a 100% recovery of plastic wastes by 2025. Such trends will drive market growth by 2026.

    Reducing dependency on the use of non-renewable fossil fuels and searching for new alternatives for fuel production will bolster plastics-to-fuels industry expansion. Industry players are working on technologies to convert different materials into fuel. Additionally, majority of European citizens are becoming concerned regarding the consequences of over usages of plastics. According to 2017 Special Eurobarometer Survey, approximately 87% of citizens are concerned about the environmental impacts of plastics, 74% of citizens were concerned about health impacts, and 61% of citizens were willing to pay extra charges for the use of single-use plastics. Many European governments are closely monitoring the conversion of plastic wastes into transport fuels & its implications, spurring the industry growth.

    Municipal solid waste will account for over 15% share in market size. The countries are focusing on municipal solid waste disposal activities to extract resource value and reduce pressure on the environment. The organizations are providing grants and restructuring the waste collection infrastructure. Furthermore, these are encouraging people to participate in waste disposal practices. Such policies will increase municipal solid waste collection and help in increasing plastic-to-fuel conversion activities in the near future.

    Catalytic degradation will grow at a CAGR of more than 2.5% between 2020 to 2026. Zeolite-based catalysts, silica aluminate, mesoporous materials, etc., are used in a catalytic degradation process. In this process, plastic waste is melted and cracked in the absence of oxygen. The resulting gases produced from this process were further cooled by condensation and crude oil is recovered. In the later stage, petrol, kerosene, and diesel are derived by distillation.

    The industry size by fuel type is categorized into solid, liquid, and gaseous. The liquid segment will cross USD 240 million by 2026. The rising number of plastic-to-fuel projects supported by major financial investments will positively influence the market growth in the coming years.

    The key industry participants in the market include Neste, Greenfuels AG, and Quantafuel. These players are establishing partnerships with plastic waste collection companies to secure timely deliveries of plastic wastes. Additionally, these companies are forming an alliance with other players in the industry to gain a strong foothold in the market. Quantafuel has partnered with Vitol to scale-up its production capabilities across Europe. As a part of this agreement, Vitol will offer financial support to Quantafuel and will act as a marketer of low carbon fuel produced by Quantafuel’s recycling plants.

    Frequently Asked Question(FAQ) :

    How much size did the Europe Plastics-To-Fuels (PTF) Market register in 2019?
    The market size of Europe Plastics-To-Fuels (PTF) surpassed USD 270 million in 2019.
    On what basis is the segmental analysis of market done?
    Segmental analysis of market is done on basis of Source, Depolymerization & Fuel type.
    Which are the key industry participants associated with the market?
    The key industry participants in the Europe plastics-to-fuels market include Neste, Greenfuels AG, and Quantafuel.

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