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North America Plastics-To-Fuels (PTF) Market Size to Mark High Growth by 2026

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According to the Graphical Research new growth forecast report titled “North America Plastics-To-Fuels (PTF) Market Share, 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” to Witness Vast Growth by 2026.

Inefficient waste disposal methods and concerns over rising layers of landfilling & openly dumped wastes are key reasons driving the need for plastics-to-fuel over the past few years. In 2016, North America generated around 35 million tons of plastic wastes and the U.S. reported around 0.10 million tons of waterborne plastic wastes.. Although the recycling rate of the region is significantly higher, problems associated with landfilling & open dumping are driving the need for sustainable solutions. Such trends will further provide key opportunities to product manufacturers, increasing North America plastics-to-fuels market demand from 2016 to 2026.

Supply chain constraints present within the North America plastics-to-fuels market may hamper industry development by 2026. Manufacturers have often caught up with contaminated feedstock, which cannot be easily converted to fuel products. Additionally, a thermal degradation process requires a closed environment as the process is performed in the absence of oxygen to prevent an explosion. These trends will hamper the share of plastics-to-fuel in the waste-to-energy market from 2020 to 2026.

The ongoing coronavirus pandemic will cause major damage to the market size from 2019 to 2020. This may be owing to the sudden drop in oil demand across major states due to temporary shutdown of industrial & commercial facilities in the U.S. However, the market will gain momentum post-2020 owing to the increasing need for high-quality fuel products in the end-user industry.

MSW will account for the lease share in the overall market owing to a higher recycling rate of plastic wastes together with well-managed municipal solid waste management systems in the U.S. The recycling rate in the U.S. has reached 35% in 2019 from below 7% in 1960. Such trends have converted the majority of the municipal solid wastes into recycled products.

Catalytic degradation will be growing at a CAGR of 2.3% over the coming years. This can be highly attributed to its low energy consumption rate over thermal degradation process. Catalysts used for this purpose are zeolite, ZSM-5, Y-zeolite, MCM-41, FCC, etc.

Solid fuel will occupy the minimum share in the global market as it is the least favorable end-user industry. Energy producers in the U.S. using coal products as energy sources have transferred to renewable sources, such as wood pellets, which further reduces the potential for solid fuel obtained from plastic wastes as feedstock. However, the development in the field of pyrolysis oil manufacturing will enhance product demand in the region.

The industry will have substantial growth from 2016 to 2026. The growth is mainly due to an increasing focus on enhancing plastic waste disposal methods. Policymakers should ensure that subsidies are offered to the manufacturers for producing pyrolysis oil as companies are struggling to achieve economies of scale. These manufacturers need to invest significant amounts of money in feedstock cleaning, pyrolysis plants, and distribution of the product. Further, oil & gas producers are still utilizing traditional sources owing to their vast availability. Such trends are creating a necessity for building sustainable infrastructure for market.

Some of the key companies considered in North America plastics-to-fuels market are Plastics2Oil Inc., Nexus Fuels, Klean Industries, and Neste.