U.S. Plastic-to-Fuel Market Set to Witness High Growth Owing to Increasing Plastic Waste

0
1KB

The global U.S. plastic-to-fuel market is estimated to be valued at US$ 128.21 Bn in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis

Strength: The U.S. plastic-to-fuel market has witnessed strong growth in recent years driven by increasing awareness about environmental protection. This has led several companies to invest in R&D to develop innovative technologies for converting non-recyclable plastic waste to fuels.

Weakness: High capital investments required for setting up plastic-to-fuel plants pose a major challenge for small and mid-sized companies. Dependence on plastic waste collection also makes the supply of raw materials uncertain at times.

Opportunity: Growing restrictions on plastic usage and landfill of plastic waste provide a huge opportunity for companies in this market. Favorable government policies and incentives for conversion of waste to energy also encourage investments. Emerging technologies like pyrolysis and gasification could further reduce costs.

Threats: Fluctuations in oil prices can impact the demand for plastic-to-fuel. Availability of cheaper alternatives like incineration poses competition. Strict emission norms may increase compliance costs.

Key Takeaways

The Global U.S. Plastic-to-Fuel Market Growth is expected to witness high over the forecast period.

Regional analysis: North America accounts for over 35% share of the U.S. plastic-to-fuel market led by the U.S. Strict implementation of bans on single-use plastic and landfill of waste plastic has propelled regional market growth. Investments in pyrolysis and gasification technologies have made the U.S. a pioneer in plastic-to-fuel conversion.

Key players: Key players operating in the U.S. plastic-to-fuel market are Eli Lilly & Company, Boehringer Ingelheim GmbH, Vistin Pharma AS, Janssen Pharmaceutica NV, Sanofi, Astellas Pharma Inc., AstraZeneca plc., Merck & Co., Inc., Novartis AG., Novo Nordisk A/S, Teva Pharmaceuticals Pvt Ltd., and Sun Pharmaceutical Industries Ltd. These companies have been focusing on developing advanced systems to produce alternative fuels from non-recyclable plastic waste.

Explore more information on this topic, Please visit -

https://www.pressreleasebulletin.com/u-s-plastic-to-fuel-market-growth-and-outook-analysis/ 

Explore more trending article on this topic -

https://diveintoinsights.blogspot.com/2023/11/plastic-to-oil-is-largest-segment.html 

Explore more trending article related this topic -

https://wotpost.com/plastic-to-fuel-a-viable-solution-to-tackling-plastic-waste/

Rechercher
Catégories
Lire la suite
Autre
UK Quick E-Commerce Market is Estimated to Witness High Growth Owing to Convenience of Quick Shopping
The UK quick e-commerce market involves the sale of various daily-use products such as grocery...
Par Dhanashri Patil 2024-01-23 05:28:34 0 1KB
Autre
Continuous Glucose Monitoring Systems: A Market Overview and Future Outlook"
Global Continuous Glucose Monitoring System Market Landscape The Continuous Glucose...
Par Mrfr Submission 2024-08-21 15:34:00 0 381
Autre
Exploring Opportunities in Digital Marketing Courses Offered by the Delhi Institute of Digital Marketing in Jaipur
In today's fast-paced digital world, mastering digital marketing is essential for anyone aiming...
Par Rps Singh 2024-06-29 08:00:08 0 613
Autre
The Global Glutaraldehyde Market is driven by rapid development in medical sterilization
The Global Glutaraldehyde Market is estimated to be valued at US$ 698.4 MN in 2024 and is...
Par Pooja Salve 2024-04-24 07:16:09 0 1KB