The U.S. Plastic-to-Fuel Market involves the conversion of plastic waste into valuable fuels and wax through pyrolysis and gasification. Plastic-to-fuel technology helps in reducing the environmental impact of non-recyclable plastics while generating useful by-products. It is considered an efficient way of managing plastic waste as it avoids sending plastics to landfills or incineration. The global 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 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity The growing plastic waste generation and limited options for disposal present a huge market opportunity for plastic-to-fuel conversion. As per estimates, over 300 million tons of plastic waste is generated annually worldwide, with landfilling and incineration being the most common waste management practices. However, these options are not sustainable in the long run. Plastic-to-fuel technology provides an alternative for effectively dealing with 150 million tons of non-recyclable plastic waste. It helps reduce reliance on landfills and minimizes greenhouse gas emissions from incineration. With the plastic waste levels projected to surge further in coming years, plastic-to-fuel proves to be a viable solution for improving plastic waste management in the U.S. Porter's Analysis Threat of new entrants: The U.S. Plastic-to-Fuel market has moderate threat of new entrants due to high initial capital requirement and stringent regulations. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative technologies and standardized products. Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and differentiated products. Threat of new substitutes: Threat from new substitutes is high due to rapid technological advancement in alternative recycling and waste management technologies. Competitive rivalry: The market is highly competitive due to presence of numerous global and regional players. SWOT Analysis Strengths: Growing concern about waste management and focus on sustainable resources. Significant plastic waste generation provides opportunity. Weaknesses: High capital investment and operating costs. Requirement of advanced technological infrastructure. Opportunities: Increasing R&D on scaling output and developing economies provides new market avenues. Supportive government policies and regulations boost industry. Threats: Availability of cheaper alternative waste management options. Fluctuations in crude oil prices impact product demand. Key Takeaways The U.S. Plastic-To-Fuel Market Demand is expected to witness high growth driven by stringent regulations to curb plastic pollution and focus on circular economy. The Western region dominates the market currently due to large plastic waste generation and early technological adoption. However, the growth is expected to be faster in the Southern and Mid-Western regions owing to growing industrialization. Key players operating in the U.S. Plastic-to-Fuel market are TAKARA BIO Inc., PHARMICELL Co., Ltd., MEDIPOST Co., Holostem Terapie Avanzate S.r.l, Bio-Rad Laboratories, Anterogen Co., Ltd., Osiris Therapeutics, Inc (Smith & Nephew PLC), Minaris Regenerative Medicine (Hitachi Chemical Co., Ltd.), Nikon CeLL Innovation Co. Ltd. (Nikon Corporation), Medinet Co. Ltd., Cell and Gene Therapy Catapult, Bio Elpida, Miltenyi Biotec, Pluristem Therapeutics Inc., Thermo Fischer Scientific, Merck Group, Corning Incorporated, Stem Cell Technologies, Lonza Group, Becton, Dickinson and Company, Sartorius, and Cellular Dynamics (Fujifilm Holdings Corporation, among others. Explore more information on this topic, Please visit- https://www.dailyprbulletin.com/u-s-plastic-to-fuel-market-share-size-and-growth-share-trends-analysis-demand-forecast/
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