Industry Background:
Processes for the conversion of plastic waste into oil products have been in development for over 20 years, however the low cost of oil has prevented these from becoming economically feasible. The conversion of plastic into oil products requires the long polymer chains which are characteristic of plastics to be broken into shorter chains typical of compounds present in crude petroleum. This depolymerisation can be accomplished by heating the materials to moderate or high temperatures, and zeolite catalysts like those frequently used in oil refineries are helpful in increasing the rate of depolymerisation.This growth is primarily driven by Huge Production and the Consumption of Plastic Worldwide
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Energy & Resources sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Cynar Plc (United Kingdom), Agilyx Inc. (United States), Vadxx Energy LLC (United States), Nexus Fuels, LLC. (United States), Plastic2Oil Inc. (United States), PK Clean (United Kingdom), RES Polyflow (United States), Plastic Advanced Recycling Corporation (United States), MK Aromatics Ltd. (India) and Neste (Finland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Leading key players are focusing on strategic partnerships to improve their products and services. Companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Regulatory Insights:
The Environmental Protection Agency (EPA), the primary agency of the United States government responsible for regulating waste disposal, has broad authority over the management of solid waste under the Resource Conservation and Recovery Act (RCRA), as well as the Clean Air Act, the Clean Water Act, and the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, commonly referred to as "Superfund"). This authority includes power to set standards for the design and operation of MSW landfills and incinerators and other modes of waste disposal.
Influencing Trend:
Rising Government’s Inclination towards the Waste Plastic to Oil Production Process and Growing Awareness about the Use of Plastic in the Formation of Usable Oil
Market Growth Drivers:
Huge Production and the Consumption of Plastic Worldwide and Growing Use of Oil Produced From the Plastic Waste across the Various Industrial Applications
Challenges:
Low Adoption of Plastic Waste to Oil Process
Restraints:
High Initial Cost of Plastic Waste to Oil Process
Opportunities:
Growing Awareness about Environmental Pollution and Stringent Government Regulations Regarding Plastic
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Plastic Waste to Oil Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Plastic Waste to Oil Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Plastic Waste to Oil players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Plastic Waste to Oil Study Sheds Light on
The Plastic Waste to Oil Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Plastic Waste to Oil industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Plastic Waste to Oil industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.