Global Industry Analysis 2016 – 2024; Market to Touch US$1,971.4 mn by 2024
Leading market intelligence firm, Transparency Market Research (TMR), has announced the publication of a new market study. The study provides a detailed analysis of the global recycled plastic and plastic waste to oil market. The various product and regional segments of the global recycled plastic and plastic waste to oil market are examined in the report in order to provide a 360-degree overview of the industry. The report is titled ‘Recycled Plastic & Plastic Waste to Oil Market – Global Industry Analysis, Size, Share, Growth Trends and Forecast 2016 – 2024’ and is available for sale on TMR’s official website.
The global recycled plastic and plastic waste to oil market is primarily driven by the rising need to find sustainable unconventional sources of oil. Since plastics are derived from petroleum, they can be reconstituted to obtain oil. This process has become vital in today’s environmental scenario, with the rising volume of plastic waste becoming a major ecological concern in several regions around the world. Converting this and other recycled plastic into oil would solve the ecological problems caused by it and assuage the rising problem of scarcity of oil.
Plastic to oil (fuel) process is one of the best emerging technologies to convert plastic into synthetic crude oil and other petroleum products. Plastic to oil (fuel) process not only aids in converting plastic to synthetic crude oil (fuel) but also enables eco-friendly disposal of plastic waste. Plastic to oil (fuel) process is an advanced waste conversion technology that is considered complementary to existing plastic recycling efforts as it usually does not consider plastic resins that are valued by the recycling markets. Plastic to oil (fuel) process is not projected as a replacement to traditional recycling practices. However, due to low plastic recycling rates, it is becoming a feasible addition to plastic waste management infrastructure.
To read the full story, visit .