U.S. PLASTIC-TO-FUEL MARKET ANALYSIS
U.S. Plastic to Fuel Market: Recent Developments
In 2020, Viridor and PLASTIC ENERGY signed a Memorandum of Understanding (MoU) to develop a new project, which would convert up to 30,000 tons of unrecycled plastic to recycled oils every year. Similarly, UK’s first plastic to hydrogen plant nears construction, as the Front-End Engineering Design (FEED) phase has been completed.
In May 2021, Oil Refiner, SK Inc, is prepared to work with Jeju clean energy to develop upcycling technology for creating petrochemical raw materials from plastic trash.
In September 2020, Bio fabrik WASTX plastic technology, a machine prototype that can turn plastic trash into gasoline has been unveiled.
In December 2020, the Municipal Solid Waste (MSW) category contributed to about US$& 85 Million in the total plastics-to-fuel market share providing a major impetus for the USA Plastic to fuel market growth.
In 2021, the Trump administration released a set of proposed regulations that would encourage the use of plastic-to-fuel cars and trucks. The proposed regulations would require companies to use more recycled plastic in their products, and would increase the number of tax credits available for companies that produce vehicles using alternative fuels.
U.S. Plastic-to-Fuel Market Report Snapshots
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