Growing plastic trash on the land as a result of the nation's increased plastic output. Over 14 million tonnes of plastic were used in containers and packaging in 2017, according to the US Environmental Protection Agency. In order to aid the environment, gamers are being encouraged to recycle plastic as the amount of plastic waste in landfills increases. This is anticipated to fuel market expansion.
Due to the country's expanding energy needs and its existing infrastructure, market development is anticipated. According to the U.S. Energy Information Administration, coal, natural gas, and petroleum made up around 79% of all primary energy produced in the country in 2018. Over the forecast period, rising energy consumption in the US is anticipated to boost market growth.
By the end of 2027, the U.S. Plastic-to-Fuel market is anticipated to generate revenues of more than US$ 150.0 million, with a CAGR of 6.8% over the forecast period (2020 to 2027).
Major Players in the U.S. Plastic-to-Fuel Industry:
1. Plastic2Oil: A U.S.-based fuel startup called Plastic2Oil Inc. converts waste plastic that hasn't been sorted or cleaned into ultra-clean, ultra-low sulphur gasoline without the need for American refinement. Fuel Oil No. 2, naphtha, and Fuel Oil No. 6 are produced using waste plastic as feedstock for a variety of applications. The business also creates by-products including a carbon residue from petcoke and an off-gas that resembles natural gas. Created in 2006. United States headquarters.
2. Agilyx Corporation: Agilyx ASA is a developer of conversion technologies for the entire value chain that aim to provide two molecular recycling product paths for polystyrene and polymethyl methacrylate, enabling a circular economy. The business provides waste sourcing and processing, assisting the plastic recycling industry as a whole in turning recycled waste plastics into useful resources like oils and chemical substrate goods. Created in 2019. United States headquarters.
3. Vadxx Energy: A Cleveland, Ohio-based company that offers waste recycling services. By turning plastic trash from consumer, industrial, and agricultural waste streams into a valuable commodity and a source of renewable energy, the company's innovative technology generates clean, sustainable energy. Created in 2009. United States headquarters.
4. Green Envirotec Holdings: A green technology business is Green Envirotech Holdings Corp. It converts useless trash tyres into useful final products including steel, oil, and carbon black. It has created a proprietary method to use tested pyrolysis technology to turn waste plastics and tyres that can't be recycled into high-grade blendstock oil. Created in 2008. United States headquarters.
Definition: The need for composting plastic technology that decreases landfill trash and turns this waste into combustible fuel that complies with environmental regulations is driven by the rise in the production of waste plastic.
