Plastic To Fuel Market Size ($8804.20Mn by 2028) Lead by Pyrolysis Technology (14% CAGR) Impact of C

Agilyx; Klean Industries Inc.; nexus FUELS, LLC; Plastic2Oil, Inc.; Cassandra Oil AB; Bradam Group, LLC.; RESYNERGI; MK Aromatics Limited; Plastic Advanced Recycling Corp.; and OMV Aktiengesellschaft are among the key players that are profiled during this market study. In addition to these players, several other essential market players were also studied and analyzed to get a holistic view of the global plastic to fuel market and its ecosystem.

In 2021, Nexus declared that it has entered into a strategic alliance with Wood plc, a consulting and engineering firm. The alliance is for the global expansion of Nexus’s advanced molecular plastics recycling business.

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In 2020, Nexus Fuels LLC and Shell announced an agreement for the supply of 60,000 tonnes of pyrolysis liquid made from the plastic waste for over four years. Nexus will supply fully circular, ISCC Plus-certified product from its Atlanta plant.

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.