Plastic To Fuel Market: By Source, By Type of Plastic, By Depolymerization, By Type of Fuel ), and Geography
Plastic To Fuel Market size was valued at US$ 2,148.9 million in 2022 and is poised to grow at a significant CAGR of 28.8% from 2023 to 2029. The global market provides a detailed overview of the global Plastic to Fuel market, and that can be segmented by Source, Type of Plastic, Depolymerization, and Type of Fuel. By source, the global Plastic To Fuel market has been segmented into Domestic Waste, Institutional Waste, Industrial Waste, Medical Waste, Tyres, and Others. The Domestic Waste Plastic To Fuel segment is likely to be the largest and fastest-growing segment in terms of type. Based on the type of plastic, the global Plastic To Fuel market is segmented into High-Density Polyethylene, Low-Density Polyethylene, Polypropylene, Polystyrene, Polyvinyl Chloride, Polyethylene Terephthalate, and Others. Among these, the High-Density Polyethylene segment is expected to have the fastest-growing market during the forecast period. Based on Depolymerization, the global Plastic To Fuel market is segmented into Thermal Degradation and catalytic Degradation. The Thermal Degradation segment accounts for the largest share in 2021. Based on fuel type, the global Plastic To Fuel market is segmented into Diesel, Gasoline, Furnace Oils, and Others. The diesel segment accounts for the largest share in 2021.
In 2020, Oil refiner SK Innovation Co. is working with Jeju Clean Energy to develop up-cycling technology to create petrochemical raw materials from plastic waste.
Study Period
2024-2030Base Year
2023CAGR
28.8%Largest Market
North AmericanFastest Growing Market
Asia-Pacific
Making fuel from such non-recycled plastic materials is one of the creative and novel ways to use them safely. Utilizing the products provided by the participants in the worldwide plastic-to-fuel (PTF) market enables this procedure.
Report Benchmarks |
Details |
Report Study Period |
2024-2030 |
Market Size in 2022 |
US$ 2,148.9 million |
Market CAGR |
28.8% |
By Source |
|
By Type of Plastic |
|
By Depolymerization |
|
By Type of Fuel |
|
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The Plastic To Fuel market size was valued at US$ 2,148.9 million in 2022
The key players are Vadaxx Energy, Plastic2Oil, RES Polyflow, Green Envirotec Holdings LLC, Agilyx Corporation, JBI Inc., Envion. Shangqiu Sihai Machinery Equipment Manufacturing Co., Ltd., Beston (Henan) Machinery Co., Ltd., Zhangzhou Qiyu Renewable Energy Technology Co., Ltd.
The plastic to fuel market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
1. Executive Summary |
2. Global Plastic To Fuel Market Introduction |
2.1. Global Plastic To Fuel Market Taxonomy |
2.2. Global Plastic To Fuel Market Definitions |
2.2.1. Source |
2.2.2. Type of Plastic |
2.2.3. Depolymerization |
2.2.4. Type of Fuel |
3. Global Plastic To Fuel Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Global Plastic To Fuel Market Dynamic Factors - Impact Analysis |
3.6. Global Plastic To Fuel Market Competition Landscape |
4. Global Plastic To Fuel Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5. Global Plastic To Fuel Market Forecast, By Source, 2019 - 2023 and Forecast, 2024 - 2030 |
5.1. Domestic Waste |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Institutional Waste |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Industrial Waste |
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
5.4. Medical Waste |
5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.4.3. Market Opportunity Analysis |
5.5. Tyres |
5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.5.3. Market Opportunity Analysis |
5.6. Others |
5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
5.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.6.3. Market Opportunity Analysis |
6. Global Plastic To Fuel Market Forecast, By Type of Plastic, 2019 - 2023 and Forecast, 2024 - 2030 |
6.1. High Density Polyethylene |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Low Density Polyethylene |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Polypropylene |
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. Polystyrene |
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
6.5. Polyvinyl Chloride. |
6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.5.3. Market Opportunity Analysis |
6.6. Polyethylene Terephthalate |
6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.6.3. Market Opportunity Analysis |
6.7. Others |
6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
6.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.7.3. Market Opportunity Analysis |
7. Global Plastic To Fuel Market Forecast, By Depolymerization, 2019 - 2023 and Forecast, 2024 - 2030 |
7.1. Thermal Degradation |
7.1.1. Pyrolysis |
7.1.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.1.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.1.3. Market Opportunity Analysis |
7.1.2. Gasification |
7.1.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.1.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.2.3. Market Opportunity Analysis |
7.1.3. Hydrogenation |
7.1.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.1.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3.3. Market Opportunity Analysis |
7.2. Catalytic Degradation |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
8. Global Plastic To Fuel Market Forecast, By Type of Fuel, 2019 - 2023 and Forecast, 2024 - 2030 |
8.1. Diesel |
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Gasoline |
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Furnace Oils |
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
8.4. Others (Gaseous) |
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.4.3. Market Opportunity Analysis |
9. Global Plastic To Fuel Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.1. North America |
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.1.3. Market Opportunity Analysis |
9.2. Europe |
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.2.3. Market Opportunity Analysis |
9.3. Asia-Pacific |
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.3.3. Market Opportunity Analysis |
9.4. Latin America |
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.4.3. Market Opportunity Analysis |
9.5. Middle East and Africa |
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.5.3. Market Opportunity Analysis |
9.6. Global Plastic To Fuel Market - Opportunity Analysis Index, By Source, By Type of Plastic, By Depolymerization, By Fuel Type and Region, 2024 - 2030 |
10. North America Plastic To Fuel Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
10.1. By Source Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.1.1. Domestic Waste |
10.1.2. Institutional Waste |
10.1.3. Industrial Waste |
10.1.4. Medical Waste |
10.1.5. Tyres |
10.1.6. Others |
10.2. By Type of Plastic Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.2.1. High Density Polyethylene |
10.2.2. Low Density Polyethylene |
10.2.3. Polypropylene |
10.2.4. Polystyrene |
10.2.5. Polyvinyl Chloride. |
10.2.6. Polyethylene Terephthalate |
10.2.7. Others |
10.3. By Depolymerization Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.3.1. Thermal Degradation |
10.3.1.1. Pyrolysis |
10.3.1.2. Gasification |
10.3.1.3. Hydrogenation |
10.3.2. Catalytic Degradation |
10.4. By Fuel Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.4.1. Diesel |
10.4.2. Gasoline |
10.4.3. Furnace Oils |
10.4.4. Others (Gaseous) |
10.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
10.5.1. USA |
10.5.2. Canada |
10.6. North America Plastic To Fuel Market - Opportunity Analysis Index, By Source, By Type of Plastic, By Depolymerization, By Type of Fuel and Country, 2024 - 2030 |
10.7. North America Plastic To Fuel Market Dynamics Trends |
11. Europe Plastic To Fuel Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
11.1. By Source Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.1.1. Domestic Waste |
11.1.2. Institutional Waste |
11.1.3. Industrial Waste |
11.1.4. Medical Waste |
11.1.5. Tyres |
11.1.6. Others |
11.2. By Type of Plastic Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.2.1. High Density Polyethylene |
11.2.2. Low Density Polyethylene |
11.2.3. Polypropylene |
11.2.4. Polystyrene |
11.2.5. Polyvinyl Chloride. |
11.2.6. Polyethylene Terephthalate |
11.2.7. Others |
11.3. By Depolymerization Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.3.1. Thermal Degradation |
11.3.1.1. Pyrolysis |
11.3.1.2. Gasification |
11.3.1.3. Hydrogenation |
11.3.2. Catalytic Degradation |
11.4. By Fuel Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.4.1. Diesel |
11.4.2. Gasoline |
11.4.3. Furnace Oils |
11.4.4. Others (Gaseous) |
11.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
11.5.1. Germany |
11.5.2. UK |
11.5.3. France |
11.5.4. Spain |
11.5.5. Italy |
11.5.6. Russia |
11.5.7. Poland |
11.5.8. Rest of Europe |
11.6. Europe Plastic To Fuel Market - Opportunity Analysis Index, By Source, By Type of Plastic, By Depolymerization, By Type of Fuel and Country, 2024 - 2030 |
11.7. Europe Plastic To Fuel Market Dynamics Trends |
12. Asia-Pacific Plastic To Fuel Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
12.1. By Source Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.1.1. Domestic Waste |
12.1.2. Institutional Waste |
12.1.3. Industrial Waste |
12.1.4. Medical Waste |
12.1.5. Tyres |
12.1.6. Others |
12.2. By Type of Plastic Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.2.1. High Density Polyethylene |
12.2.2. Low Density Polyethylene |
12.2.3. Polypropylene |
12.2.4. Polystyrene |
12.2.5. Polyvinyl Chloride. |
12.2.6. Polyethylene Terephthalate |
12.2.7. Others |
12.3. By Depolymerization Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.3.1. Thermal Degradation |
12.3.1.1. Pyrolysis |
12.3.1.2. Gasification |
12.3.1.3. Hydrogenation |
12.3.2. Catalytic Degradation |
12.4. By Fuel Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.4.1. Diesel |
12.4.2. Gasoline |
12.4.3. Furnace Oils |
12.4.4. Others (Gaseous) |
12.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
12.5.1. Japan |
12.5.2. China |
12.5.3. India |
12.5.4. ASEAN |
12.5.5. Australia & New Zealand |
12.5.6. Rest of Asia-Pacific |
12.6. Asia-Pacific Plastic To Fuel Market - Opportunity Analysis Index, By Source, By Type of Plastic, By Depolymerization, By Type of Fuel and Country, 2024 - 2030 |
12.7. Asia-Pacific Plastic To Fuel Market Dynamics Trends |
13. Latin America Plastic To Fuel Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
13.1. By Source Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
13.1.1. Domestic Waste |
13.1.2. Institutional Waste |
13.1.3. Industrial Waste |
13.1.4. Medical Waste |
13.1.5. Tyres |
13.1.6. Others |
13.2. By Type of Plastic Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
13.2.1. High Density Polyethylene |
13.2.2. Low Density Polyethylene |
13.2.3. Polypropylene |
13.2.4. Polystyrene |
13.2.5. Polyvinyl Chloride. |
13.2.6. Polyethylene Terephthalate |
13.2.7. Others |
13.3. By Depolymerization Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
13.3.1. Thermal Degradation |
13.3.1.1. Pyrolysis |
13.3.1.2. Gasification |
13.3.1.3. Hydrogenation |
13.3.2. Catalytic Degradation |
13.4. By Fuel Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
13.4.1. Diesel |
13.4.2. Gasoline |
13.4.3. Furnace Oils |
13.4.4. Others (Gaseous) |
13.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
13.5.1. Brazil |
13.5.2. Mexico |
13.5.3. Argentina |
13.5.4. Rest of Latin America |
13.6. Latin America Plastic To Fuel Market - Opportunity Analysis Index, By Source, By Type of Plastic, By Depolymerization, By Type of Fuel and Country, 2024 - 2030 |
13.7. Latin America Plastic To Fuel Market Dynamics Trends |
14. Middle East and Africa Plastic To Fuel Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
14.1. By Source Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
14.1.1. Domestic Waste |
14.1.2. Institutional Waste |
14.1.3. Industrial Waste |
14.1.4. Medical Waste |
14.1.5. Tyres |
14.1.6. Others |
14.2. By Type of Plastic Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
14.2.1. High Density Polyethylene |
14.2.2. Low Density Polyethylene |
14.2.3. Polypropylene |
14.2.4. Polystyrene |
14.2.5. Polyvinyl Chloride. |
14.2.6. Polyethylene Terephthalate |
14.2.7. Others |
14.3. By Depolymerization Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
14.3.1. Thermal Degradation |
14.3.1.1. Pyrolysis |
14.3.1.2. Gasification |
14.3.1.3. Hydrogenation |
14.3.2. Catalytic Degradation |
14.4. By Fuel Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
14.4.1. Diesel |
14.4.2. Gasoline |
14.4.3. Furnace Oils |
14.4.4. Others (Gaseous) |
14.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
14.5.1. Gulf Cooperation Council (GCC) Countries |
14.5.2. Israel |
14.5.3. South Africa |
14.5.4. Rest of MEA |
14.6. MEA Plastic To Fuel Market - Opportunity Analysis Index, By Source, By Type of Plastic, By Depolymerization, By Type of Fuel and Country, 2024 - 2030 |
14.7. MEA Plastic To Fuel Market Dynamics Trends |
15. Competition Landscape |
15.1. Strategic Dashboard of Top Market Players |
15.2. Company Profiles (Introduction, Financial Analysis, Feedstock Material & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
15.2.1. Agilyx |
15.2.2. Vadxx |
15.2.3. Plastic 2 Oils, Inc |
15.2.4. Klean Industries |
15.2.5. Neste |
15.2.6. Nexus Fuels LLC. |
15.2.7. Paterson Energy |
15.2.8. MK Aromatics Limited |
15.2.9. CbS Technologies |
15.2.10. Northwood Exploration Israel Limited |
15.2.11. Anhui Oursun Environmental Technologies |
15.2.12. POLCYL |
15.2.13. RES Polyflow |
15.2.14. BIOFABRIK |
15.2.15. Niutech |
15.2.16. Plastic Energy |
16. Research Methodology |
17. Key Assumptions and Acronyms |
Key Market Players