U.S. Plastic-to-Fuel Market

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U.S. PLASTIC-TO-FUEL MARKET ANALYSIS 

• U.S. Plastic-to-Fuel Market, By End Product
  (Crude Oil (Sold to Local Refiners), Diesel (Sold
  to End-User)), By Processors (JBL, Nexus), By
  Fuels (Agilyxm, Vadxx, GETH, RES Polyflow, Cenco)
  - Size, Share, Outlook, and Opportunity Analysis,
  2020 2027

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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 environmenta
  l 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.

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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.

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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.

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

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

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• 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 P2Os technology
  and purchase P2O processors.
•  

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