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Plastic-to-fuel is an advanced technology used to convert plastic waste into liquid fuels in order to deliver environmental benefits. This process involves the development of ultra-clean and ultra-low sulfur fuel from unsorted waste plastic. In this process plastic are shredded and heated under the temperature of 400 deg Celsius in an oxygen-free chamber, the process known as pyrolysis. Automotive, food & beverage, petrochemical, agricultural, and cosmetics are major end-user of plastic-to-Fuel.

The U.S. Plastic-to-Fuel market is projected to surpass US$ 150.0 million by the end of 2027, in terms of revenue, growing at CAGR of 6.8% during the forecast period (2020 to 2027).

Drivers

Increasing plastic waste on the land due to exceeding the production of plastic in the Country. According to the United States Environmental Protection Agency, the containers and packaging category had the most plastic tonnage at over 14 million tons in 2017. Thus, increasing volume of plastic waste on the landfill is encouraging players to adopt recycling plastic in order to deliver environmental benefits. This is expected to propel the market growth.

Rising demand for energy in the country due to the presence of well-established infrastructure is expected to foster market growth. According to the U.S. Energy Information Administration, fossil fuels petroleum, natural gas, and coal accounted for around 79% of total U.S. primary energy production in 2018. Rising demand for energy in the U.S country is expected to augment the market growth over the forecast period.

Market Restraints

The high initial cost of the setup is expected to hinder the market growth of the U.S. Plastic-to-Fuel. As per estimates by the American Chemistry Council, a single plastic-to-oil facility will incur a capital expenditure of between US$ 10 Million to US$ 18 Million. Moreover, pre-processing of waste plastic is another major factor that adds to the overall cost.

Plastic-to-fuel is not eligible for recycling approvals, according to the Federal, local and state governments this project does not fall under the category of recycling and hence not eligible for recycling approval. This factor is expected to hinder the growth of the plastic-to-fuel market.

Market Opportunities

Growing demand for petroleum products is expected to offer lucrative growth opportunity to the market of the U.S. plastic-to-fuel. According to the U.S. Energy Information Administration, gasoline is the most consumed petroleum product in the United States. In 2018, consumption of finished motor gasoline averaged about 9.33 million b/d (392 million gallons per day), which was equal to about 45% of total U.S. petroleum consumption.

Growth in the cosmetic industry in the country due to increasing sale of cosmetic products is projected to provide potential opportunity to the market of the U.S. plastic-to-fuel market. Petroleum products are widely used in the manufacturing of cosmetic products. Hence, growth in the cosmetic industry in the U.S. country is projected to augment market growth.

Figure 1. U.S. Plastic-to-Fuel Market – Opportunity Analysis

U.S. Plastic-to-Fuel  | Coherent Market Insights

Market Trends

The growing focus of manufacturers in increasing the capacity and processing capabilities of the processors used to convert waste plastic to oil is expected to accelerate the market growth. Various research is conducted in order to deal with the technological barrier and minimize the pre-processing cost incurred on the sorting of plastic. This ongoing trend in the market is expected to stimulate market growth.

The rising trend of supplying technology to the third party to expand their presence in the market is expected to foster market growth. For instance, in January 2015, Green Envirotec Holdings has entered into an agreement with Texas-based Corporation, Cenco Leasing Co., whereby the company granted an exclusive license to the latter in order to develop its proprietary technology to convert discarded tyres and plastics into oil.

Figure 2. U.S. Plastic-to-Fuel Market, Revenue Share (%), By Product Type, In 2019

U.S. Plastic-to-Fuel  | Coherent Market Insights

On the basis of fuels, Vadxx dominated the U.S. Plastic-to-Fuel market in 2019 with around 40% of market share in terms of revenue, followed by Agilyx and RES Polyflow, respectively.

Competitive Section

Key players are operating in the U.S. plastic-to-fuel market are Plastic2Oil, Agilyx Corporation,Vadxx Energy, and Green Envirotec Holdings

Few Recent Developments

Plastic2Oil

  • In Janurary 2018, Plastic2Oil Inc. has announced that it has signed a 20-year master agreement with Veridisyn Technologies LLC, a Tuscaloosa, Alabama-based company engaged in the development of alternative energy projects, under which Veridisyn has agreed to license P2O’s technology and purchase P2O processors.
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Fuel derived from plastic provide a cleaner burning fuel as compared to the conventional fossil fuel used predominantly, owing to the lower content of sulfur. Majority of the population in emerging economies use diesel with higher sulfur content. In addition to this, various factors such as rising infrastructure, increasing technology, and expansion of plant capacity is expected to provide lucrative growth during the forecast period.

Market Dynamics

The global mining floatation chemical market has witness a surge in market growth in terms of revenue in recent past years, owing to the rising growth in demand of energy among various industries such as chemical, consumer goods, manufacturing, cosmetics and others in the country. The surge in use plastic consumption across the U.S. is fuelling the growth of plastic-to-fuel market in the U.S.

On the basis of fuel, U.S. plastic-to-fuel market can be segmented into Agilyx, Vadxx, GETH, RES Polyflow, and Cenco. U.S. is expected to witness substantial growth during the forecast period owing to the rising demand for plastics for feedstock in the U.S. Furthermore, stringent government policies in U.S. towards energy security in anticipated to drive the growth of the plastic-to-fuel market.

Key features of the study:

  • This report provides in-depth analysis of U.S. plastic-to-fuel market size (US$ Million), and Compound Annual Growth Rate (CAGR %) for the forecast period (2020 – 2027), considering 2019 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
  • It profiles leading players in the U.S. plastic-to-fuel market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plant
  • Key companies covered as a part of this study includes Plastic2Oil, Agilyx Corporation, Vadxx Energy, and Green Envirotec Holdings
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The U.S. plastic-to-fuel market report caters to various stakeholders in this industry including investors, suppliers, U.S. plastic-to-fuel manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analysing the U.S. plastic-to-fuel market

Detailed Segmentation:

  • U.S. Plastic-to-Fuel Market, By End Product:
    • Crude Oil
      • Sold to Local Refiners
    • Diesel
      • Sold to End-User
  • U.S. Plastic-to-Fuel Market, By Processors:
    • JBL
    • Nexus
  • U.S. Plastic-to-Fuel Market, By Fuels:
    • Agilyx
    • Vadxx
    • GETH
    • RES Polyflow
    • Cenco
  • Company Profiles
    • Plastic2Oil*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Agilyx Corporation
    • Vadxx Energy
    • Green Envirotec Holdings

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By End Product
      • Market Snippet, By Processors
      • Market Snippet, By Fuels
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
  4. U.S. Plastic-to-Fuel Market, By End Product, 2017 - 2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Crude Oil
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million)
      • Sub-Segment Trends
        • Sold to Local Refiners
    • Diesel
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million)
      • Sub-Segment Trends
        • Sold to End-User
  5. U.S. Plastic-to-Fuel Market, By Processors, 2017 - 2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • JBL
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million)
    • Nexus
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million)
  6. U.S. Plastic-to-Fuel Market, By Fuels, 2017 - 2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Agilyx
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million)
    • Vadxx
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million)
    • GETH
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million)
    • RES Polyflow
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million)
    • Cenco
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million)
  7. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • Plastic2Oil
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Agilyx Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Vadxx Energy
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Green Envirotec Holdings
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 25 market data tables* and 20 figures* on "U.S. Plastic-to-Fuel Market” – global forecast to 2027

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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