The plastic to fuel market in Asia Pacific is expected to grow from US$ 1,554.95 million in 2022 to US$ 4,387.33 million by 2028. It is estimated to grow at a CAGR of 18.9% from 2022 to 2028.

Increasing Energy Requirement

Electricity is at the heart of modern economies, and it accounts for an increasing proportion of energy services. As a result of increased family incomes, electrification of transportation and heat, and a rise in demand for digital linked gadgets and air conditioning, the energy demand is expected to rise even more. Based on the current stated policies Scenario, the global electricity consumption will grow at a rate of 2.1% per year until 2040, more than double the rate of primary energy demand. As a result, electricity’s share of total final energy consumption will increase from 19% in 2018 to 24% in 2040. In emerging nations, the increase in energy consumption is projected to be particularly large. Government policies, market conditions, and available technology all work together in the Stated Policies Scenario to shift energy supply toward low-carbon sources, with their share growing from 36% (current share) to 52% in 2040. Furthermore, the rising electricity demand was one of the main reasons why global CO2 emissions from the power sector reached a new high in 2018. However, the commercial availability of a diverse range of low-emission generation technologies places electricity at the forefront of efforts to combat climate change and pollution, which is increasing the demand for alternate solutions, thereby resulting in PTF market expansion.

Market Overview

Australia, China, India, Japan, South Korea, and rest of Asia Pacific are the key contributors to the plastic to fuel market in the Asia Pacific. China alone produces 59,079,741 tons of plastic every year. These plastic wastes are either dumped into landfills or the ocean, thereby populating the environment and leaving long-term adverse impacts worldwide. Moreover, Asia Pacific accounts for the major share in marine plastic pollution with major contributors such as China, Indonesia, Sri Lanka, Vietnam, and the Philippines. Inefficient waste management infrastructure and the lack of awareness regarding the adverse impact of single-use plastic are the main reasons contributing to the rise in plastic waste across the region. The rising investments by both the governments and private organizations to promote recycling of plastic to further reusable materials are propelling the growth of the Asia Pacific plastic to fuel market across the region. In 2020, Circulate Capital, an investment management organization, announced its investment of US$ 19 million in four privately held Indian recycling companies – Srichakra Polyplast, Dalmia Polypro Industries, Deeya Panel Products, and Rapidue Technologies. Similarly, in 2020, Circulate Capital Ocean Fund (CCOF) invested US$ 39 million to create the largest investment portfolio devoted to fighting ocean plastic waste across India. Hence, constant investments by government and private companies to fight the adverse impact of plastic across countries in Asia Pacific are expected to contribute to the growth of the market. Owing to the rise in investments in plastic waste recycling across the region, plastic to fuel market players is also investing in expanding their business across the region. Moreover, local companies are investing in the market. For instance, Singapore-based Environmental Solutions (Asia) Pte Ltd offers plastic to fuel services in the country. Similarly, with the help of pyrolysis technology, newoil converts millions of tons of plastic every year. In 2020, the company announced its plan to convert 20,000 tons of plastic waste into diesel fuel for transportation applications across Singapore.

Asia Pacific Plastic to Fuel Market Segmentation

The Asia Pacific plastic to fuel market is segmented into technology, end product, and country.

Based on technology, the market is segmented into pyrolysis, gasification, and depolymerization. The pyrolysis segment registered the largest market share in 2022.

Based on end product, the market is segmented into crude oil, hydrogen, and others. The crude oil segment held a largest market share in 2022.

Based on country, the market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. China dominated the market share in 2022.

Agilyx; Klean Industries Inc; Plastic2Oil, Inc; Cassandra Oil AB; MK Aromatics Limited; and OMV Aktiengesellschaft are the leading companies operating in the Asia Pacific plastic to fuel market in the region.

TABLE OF CONTENTS

1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Plastic to Fuel Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
5. APAC Plastic to Fuel – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Awareness Regarding Green House Gas Emission from Fuel Making Sector
5.1.2 Increasing Energy Requirement
5.2 Market Restraints
5.2.1 Concerns Regarding Usage of Non-renewable Energy Sources
5.3 Market Opportunities
5.3.1 Introduction of Go Green Process
5.4 Future Trends
5.4.1 Waste to Fuel Initiatives
5.5 Impact Analysis of Drivers and Restraints
6. Plastic to Fuel – APAC Market Analysis
6.1 APAC Plastic to Fuel Market Overview
6.2 APAC Plastic to Fuel Market Revenue Forecast and Analysis
7. APAC Plastic to Fuel Market– by Technology
7.1 Overview
7.2 APAC Plastic to Fuel Market, by Technology (2021 and 2028)
7.3 Pyrolysis
7.3.1 Overview
7.3.2 Pyrolysis: Plastic to Fuel Market Revenue and Forecast to 2028 (US$ Million)
7.4 Gasification
7.4.1 Overview
7.4.2 Gasification: Plastic to Fuel Market Revenue and Forecast to 2028 (US$ Million)
7.5 Depolymerization
7.5.1 Overview
7.5.2 Depolymerization: Plastic to Fuel Market Revenue and Forecast to 2028 (US$ Million)
8. APAC Plastic to Fuel Market– by End Product
8.1 Overview
8.2 APAC Plastic to Fuel Market, by End Product (2021 and 2028)
8.3 Crude Oil
8.3.1 Overview
8.3.2 Crude Oil: Plastic to Fuel Market Revenue and Forecast to 2028 (US$ Million)
8.4 Hydrogen
8.4.1 Overview
8.4.2 Hydrogen: Plastic to Fuel Market Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Plastic to Fuel Market Revenue and Forecast to 2028 (US$ Million)
9. APAC Plastic to Fuel Market – Country Analysis
9.1 Overview
9.1.1 APAC: Plastic to Fuel Market, by Key Country
9.1.1.1 Australia: Plastic to Fuel Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Australia: Plastic to Fuel Market, by Technology
9.1.1.1.2 Australia: Plastic to Fuel Market, by End Product
9.1.1.2 China: Plastic to Fuel Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 China: Plastic to Fuel Market, by Technology
9.1.1.2.2 China: Plastic to Fuel Market, by End Product
9.1.1.3 India: Plastic to Fuel Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 India: Plastic to Fuel Market, by Technology
9.1.1.3.2 India: Plastic to Fuel Market, by End Product
9.1.1.4 Japan: Plastic to Fuel Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Japan: Plastic to Fuel Market, by Technology
9.1.1.4.2 Japan: Plastic to Fuel Market, by End Product
9.1.1.5 South Korea: Plastic to Fuel Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 South Korea: Plastic to Fuel Market, by Technology
9.1.1.5.2 South Korea: Plastic to Fuel Market, by End Product
9.1.1.6 Rest of APAC: Plastic to Fuel Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of APAC: Plastic to Fuel Market, by Technology
9.1.1.6.2 Rest of APAC: Plastic to Fuel Market, by End Product
10. Industry Landscape
10.1 Market Initiative
10.2 Merger and Acquisition
10.3 New Development
11. Company Profiles
11.1 Agilyx
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Klean Industries Inc.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Plastic2Oil, Inc.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Cassandra Oil AB
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 MK Aromatics Limited
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 OMV Aktiengesellschaft
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index

LIST OF TABLES

Table 1. APAC Plastic to Fuel Market Revenue and Forecast to 2028 (US$ Million)
Table 2. Australia: Plastic to Fuel Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Plastic to Fuel Market, by End Product –Revenue and Forecast to 2028 (US$ Million)
Table 4. China: Plastic to Fuel Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 5. China: Plastic to Fuel Market, by End Product –Revenue and Forecast to 2028 (US$ Million)
Table 6. India: Plastic to Fuel Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 7. India: Plastic to Fuel Market, by End Product –Revenue and Forecast to 2028 (US$ Million)
Table 8. Japan: Plastic to Fuel Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 9. Japan: Plastic to Fuel Market, by End Product –Revenue and Forecast to 2028 (US$ Million)
Table 10. South Korea: Plastic to Fuel Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 11. South Korea: Plastic to Fuel Market, by End Product –Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of APAC: Plastic to Fuel Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of APAC: Plastic to Fuel Market, by End Product –Revenue and Forecast to 2028 (US$ Million)
Table 14. List of Abbreviation

LIST OF FIGURES

Figure 1. APAC Plastic to Fuel Market Segmentation
Figure 2. APAC Plastic to Fuel Market Segmentation – By Country
Figure 3. APAC Plastic to Fuel Market Overview
Figure 4. APAC Plastic to Fuel Market, By Technology
Figure 5. APAC Plastic to Fuel Market, By End Product
Figure 6. APAC Plastic to Fuel Market, By Country
Figure 7. Asia-Pacific – PEST Analysis
Figure 8. APAC Plastic to Fuel Market: Ecosystem Analysis
Figure 9. APAC Plastic to Fuel Market: Impact Analysis of Drivers and Restraints
Figure 10. APAC Plastic to Fuel Market Revenue Forecast and Analysis (US$ Million)
Figure 11. APAC Plastic to Fuel Market, by Technology (2021 and 2028)
Figure 12. APAC Pyrolysis: Plastic to Fuel Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. APAC Gasification: Plastic to Fuel Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Depolymerization: Plastic to Fuel Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. APAC Plastic to Fuel Market, by End Product (2021 and 2028)
Figure 16. APAC Crude Oil: Plastic to Fuel Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Hydrogen: Plastic to Fuel Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. APAC Others: Plastic to Fuel Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. APAC: Plastic to Fuel Market, By Key Country- Revenue (2021) (US$ Million)
Figure 20. APAC: Plastic to Fuel Market Revenue Share, By Key Country (2021 and 2028)
Figure 21. Australia: Plastic to Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. China: Plastic to Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. India: Plastic to Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Japan: Plastic to Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. South Korea: Plastic to Fuel Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Rest of APAC: Plastic to Fuel Market – Revenue and Forecast to 2028 (US$ Million)

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific plastic to fuel market.
● Highlights key business priorities in order to assist companies to realign their business strategies
● The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific plastic to fuel market, thereby allowing players across the value chain to develop effective long-term strategies
● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
● Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the plastic to fuel market, as well as those hindering it
● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

The List of Companies – Asia Pacific Plastic to Fuel Market

● Agilyx
● Klean Industries Inc.
● Plastic2Oil, Inc.
● Cassandra Oil AB
● OMV Aktiengesellschaft

At 18.9% CAGR, the Asia Pacific Plastic to Fuel Market is speculated to be worth US$ 4,387.33 million by 2028, says The Insight Partners

According to the Insight Partners’ research, the Asia Pacific plastic to fuel market was valued at US$ 1,554.95 million in 2022 and is expected to reach US$ 4,387.33 million by 2028, registering an annual growth rate of 18.9% from 2022 to 2028. Growing awareness regarding greenhouse gas emission from fuel making sector and increasing energy requirement are the critical factors attributed to the market expansion.

In 2016, the world created an estimated 2.01 billion tons of municipal waste. The amount of municipal waste is expected to reach 3.4 billion tons by 2050. Food and green waste account for 44% of worldwide garbage, while dry recyclables such as paper, cardboard, plastic, glass, and metal account for 38%. Due to economic development, population expansion, and the degree of urbanization, it is predicted that the quantity of waste created may continue to rise. However, at least 33% of garbage is thrown in the open and is not managed in an environmentally friendly manner. Approximately 93% of garbage is burnt or deposited on road easements, open areas, or rivers, particularly in low-income nations. Nonrecyclable polymers such as polystyrene, polyethylene terephthalate (PET), and polyvinyl chloride (PVC) are currently the major sources of concern. More than 90% of plastic is not recycled and is discarded, landfilled, or simply poured into the ocean instead. Only 9–10% of waste plastic has been collected and recycled, implying that only 9–10% of waste plastic has been collected and recycled. This opens up a huge market potential for the plastic-to-fuel industry, since recycling these waste plastics will produce nonrecyclable waste plastics that can be used in PFT in the not-too-distant future. As a result, the demand for plastic to fuel facilities is projected to rise as nonrecyclable plastics are recovered from recycling facilities and new/landfill sources. Waste to energy (WTE), in particular, has a role to play in achieving the transformation to a sustainable energy ecosystem as a renewable energy source to reduce greenhouse gas (GHG) emissions, a clean demand response option, an eco-industrial park design consideration, and sometimes the only option for end-of-life waste treatment.

On the contrary, concerns regarding usage of non-renewable energy sources hurdles the growth of Asia Pacific plastic to fuel market.

Based on technology, the Asia Pacific plastic to fuel market is segmented into pyrolysis, gasification, and depolymerization. The pyrolysis segment held 65.1%market share in 2022, amassing US$ 1,012.82 million. It is projected to garner US$ 2,868.72 million by 2028 to expand at 18.9% CAGR during 2022–2028.

Based on end product, the Asia Pacific plastic to fuel market is segmented into crude oil, hydrogen, and others. The crude oil segment held 61.3% market share in 2022, amassing US$ 953.69 million. It is projected to garner US$ 2,556.80 million by 2028 to expand at 17.9% CAGR during 2022–2028.

Based on country, the Asia Pacific plastic to fuel market has been categorized into Australia, China, India, Japan, South Korea, and rest of Asia Pacific. Our regional analysis states that China captured 45.2% market share in 2022. It was assessed at US$ 702.27 million in 2022 and is likely to hit US$ 1,849.26 million by 2028, exhibiting a CAGR of 17.5% during the forecast period.

Key players profiles in the Asia Pacific plastic to fuel market report are Agilyx; Klean Industries Inc; Plastic2Oil, Inc; Cassandra Oil AB; MK Aromatics Limited; and OMV Aktiengesellschaft, among others.