Europe Plastic to Fuel Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Technology (Pyrolysis, Gasification, and Depolymerization) and End Product (Crude Oil, Hydrogen, and Others)

Europe Plastic to Fuel Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Technology (Pyrolysis, Gasification, and Depolymerization) and End Product (Crude Oil, Hydrogen, and Others)

The plastic to fuel market in Europe is expected to grow from US$ 662.58 million in 2022 to US$ 1,593.50 million by 2028. It is estimated to grow at a CAGR of 15.7% from 2022 to 2028.

Growing Awareness Regarding Green House Gas Emission from Fuel Making Sector

In 2016, the world created an estimated 2.01 billion tons of municipal waste. The amount of municipal waste is expected to reach 3.4 billion tons by 2050. Food and green waste account for 44% of worldwide garbage, while dry recyclables such as paper, cardboard, plastic, glass, and metal account for 38%. Due to economic development, population expansion, and the degree of urbanization, it is predicted that the quantity of waste created may continue to rise. However, at least 33% of garbage is thrown in the open and is not managed in an environmentally friendly manner. Approximately 93% of garbage is burnt or deposited on road easements, open areas, or rivers, particularly in low-income nations. Nonrecyclable polymers such as polystyrene, polyethylene terephthalate (PET), and polyvinyl chloride (PVC) are currently the major sources of concern. More than 90% of plastic is not recycled and is discarded, landfilled, or simply poured into the ocean instead. Only 9–10% of waste plastic has been collected and recycled, implying that only 9–10% of waste plastic has been collected and recycled. This opens up a huge market potential for the plastic-to-fuel industry, since recycling these waste plastics will produce nonrecyclable waste plastics that can be used in PFT in the not-too-distant future. As a result, the demand for plastic to fuel facilities is projected to rise as nonrecyclable plastics are recovered from recycling facilities and new/landfill sources. Waste to energy (WTE), in particular, has a role to play in achieving the transformation to a sustainable energy ecosystem as a renewable energy source to reduce greenhouse gas (GHG) emissions, a clean demand response option, an eco-industrial park design consideration, and sometimes the only option for end-of-life waste treatment.

Market Overview

France, Germany, Italy, UK, Russia, and rest of Europe are the key contributors to the plastic to fuel market in the Europe. According to the data published by the European Environmental Agency in 2018, the type of plastic production in the European countries includes packaging (39.9%); building & construction (19.8%); Automotive (9.9%); electrical & electronic equipment (6.2%); agriculture (3.4%); household, leisure & sports (4.1%) and other (16.7%). Out of the total plastic produced by the region, 32.5% was recycled in 2018, followed by 42.6% utilized for energy recovery, and the remaining was dumped into landfills. The rising government initiatives to promote the recycling of plastic waste across the region are influencing companies to invest in the same. Owing to Europe’s Green Deal and Sustainability Ambitions, companies are encouraged to invest in the recycling of plastic for reuse and energy recovery. The European Commission estimates that energy savings from recycling all the global plastic waste would take 3.5 billion barrels of oil out of the equation per year. Thus, the rising government initiatives to promote the recycling and energy recovery of plastic waste are contributing to the growth of the European plastic to fuel market. In December 2020, the company entered a strategic partnership with SABIC to build a unit in the Netherlands, the construction of which is expected to start from 2021. Similarly, in September 2019, BlueAlp announced its plan to build a waste plastic recycling plant in the Netherlands and Belgium on behalf of the Dutch-Belgian consortium. Thus, the above-mentioned initiatives are boosting the growth of the Europe plastic to fuel market across the European region.

Europe Plastic to Fuel Market Segmentation

The Europe plastic to fuel market is segmented into technology, end product, and country.

Based on technology, the market is segmented into pyrolysis, gasification, and depolymerization. The pyrolysis segment registered the largest market share in 2022.

Based on end product, the market is segmented into crude oil, hydrogen, and others. The crude oil segment held a largest market share in 2022.

Based on country, the market is segmented into France, Germany, Italy, UK, Russia, and Rest of Europe. UK dominated the market share in 2022.

Agilyx; Klean Industries Inc; Plastic2Oil, Inc; Cassandra Oil AB; Plastic Advanced Recycling Corp.; and OMV Aktiengesellschaft are the leading companies operating in the Europe plastic to fuel market in the region.

Reasons to Buy

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