The waste to diesel market is projected to expand at a CAGR of 10.4% between 2017 and 2025. Waste to oil is used as a method of producing diesel from municipal waste, plastic waste, and oil and fat waste. With high waste accumulation and fuel requirements, waste to diesel is emerging as a key tool for managing waste in urban areas especially. The method is gaining recognition across the globe owing to its effective and relatively inexpensive nature.
High capital investments required in traditional waste management methods coupled with rising concerns regarding disposal of soaring waste is compelling government bodies worldwide to encourage the use of the waste to diesel method. For instance, In July 2017, The Surat Municipal Corporation (SMC), India provided two acres of land in Bhatar for the construction of plastic waste management plant. The plant processes 20 tons of plastic waste per day to convert it to diesel. The capacity will be soon enhanced to 100 tons per day. Plastic waste is gathered from different parts of the city to produce plastic globules. The process uses the state-of-the-art pyrolysis technology.
Growing investments in R&D activities to improve the technology used and cut down costs can help the market gain phenomenal momentum. To put this in perspective, Renewlogy, a company working toward clean energy, is involved in converting plastic waste into fuel such as diesel. With its technology, the company can turn every 10 tons of plastic to nearly 2500 gallons of fuel. Another case in point is Stat Craft, which developed a process using hydrothermal liquefaction technology to generate biofuel from solid organic waste.
Surging consumption of diesel in countries such as China, U.S., Mexico, India, and Japan owing to rapid expansion in the automotive industry is likely to segment the global waste to diesel market. According to Grand View Research Inc., rising number of waste processing plants is anticipated to drive the market. Implementation of stringent regulations concerning harmful effects of garbage is also stoking the growth of the market.
North America will be the most promising region during the forecast period (2017–2025). Widening base of waste transfer stations and garbage collectors is supplementing the growth of the regional market. Some of the prominent companies operating in the market are Foster Wheeler A.G.; Covanta Energy Corp.; Green Alliance; Plastic2Oil Inc.;
In-Depth Research Report On Waste to Diesel Market:
https://www.grandviewresearch.com/industry-analysis/waste-to-diesel-market
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