The 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 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:-

Plastic-to-fuel is a process that converts plastic waste into fuels and other usable products. It involves breaking the long hydrocarbon chains in plastic into shorter ones that can be used as fuels using thermal or chemical processes. This helps tackle the issues related to plastic waste accumulation and provides an alternative renewable source of fuel.

Market key trends:-

One of the major trends in the U.S. plastic-to-fuel market is rising investments in plastic-to-fuel technological advancements. Various companies are investing in R&D to develop advanced plastic-to-fuel technologies that can efficiently convert different types of plastics into liquid fuels. This includes developing technologies that can achieve higher conversion rates while reducing carbon emissions from the process. Such investments are expected to boost the commercialization of plastic-to-fuel technologies, catering to the growing need for sustainable alternatives for waste management and fuel security.

Segment Analysis:-

The U.S. plastic-to-fuel market is segmented into chemical recycling and pyrolysis. The pyrolysis segment currently dominates the market due to the ease of operations and cost-effectiveness of the process. Pyrolysis converts plastic waste into hydrocarbons like oil by applying heat in an oxygen-free environment. This process is favored as it does not require complex preprocessing of mixed plastic waste.

Key Takeaways:-

The U.S. Plastic-To-Fuel Market Growth is expected to witness high, exhibiting CAGR of 9.3% over the forecast period, due to increasing concerns about plastic waste management and growing demand for alternative fuels.

Regional analysis:-

The Western region dominates the U.S. plastic-to-fuel market owing to the presence of key players and favorable government policies for waste-to-energy projects. The region holds over 30% of the total market share and is expected to continue its dominance during the forecast period on account of stringent regulations regarding plastic waste recycling.

Key players:-

Key players operating in the U.S. plastic-to-fuel market are Plastic2Oil, Agilyx Corporation, Vadxx Energy, and Green Envirotec Holdings. Plastic2Oil is one of the leading players focused on developing advanced pyrolysis technologies to convert unsorted, unwashed plastic waste into liquid fuels.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it