The Report “Global Energy Market From Plastic Waste, Chemicals And Oil Market - Recovery & Technologies - Recycled Plastics & Plastic Waste To Oil (Plastic Waste Products, Plastic Packaging Waste) Industry Analysis, Size, Share, Growth, Trends And Forecasts 2014 – 2020”
“Development of new process and technologies is driving the Global Energy Chemicals and Oil Market from waste plastic.” Currently almost 80% of the total plastic waste produced is incinerated and converted into Refused define oil(RDF).However, the future of energy recovery market lies in the development of new processes that are eco friendly and will generate fuel with better efficiency. “
The currently used process of incineration has more harmful effects to the environment. Although the cost of conducting the process is lesser than other processes such as biodegradation, gasification & pyrolysis and so on, companies need to go through strict government regulations. The various environmental concerns associated with the process is a major challenge for the industry. Moreover, the energy generated is comparatively of lower cost than the cost of pollution generated during the process. Thus companies are looking forward for alternative and more eco friendly processes and technologies to recover energy from plastic waste. It is found that when compared to landfill disposal, gasification of MSW saves 6.5 to 13 million Btu per ton and 0.3 to 0.6 tons of carbon equivalent emissions per ton.
“However, the high cost of establishment of the Waste to Energy plants with new process and technologies is a major entry level barrier in the industry. Moreover, the operational cost for these plants is also high and companies have faced setbacks in various locations due to operational challenges.”
In Europe and Asia, gasification and pyrolysis of plastic waste is a usually a done aon a large scale. However, companies have faced various operational issues from the local government. Moreover, Gasification is often still associated with mass burn as a thermal technology and may need to overcome public perception challenges as it is implemented at a commercial scale.
Operation green fence by Chinese government has placed a major concern before the U.S. plastic waste management. However, new technologies such as gasification & pyrolysis which are considered as more environment friendly and more efficient can be the right choice for US plastic waste management. Waste management companies should leverage the emerging opportunities in the region. Moreover, agreements with local governments may help to overcome the regulatory issues.
“Adoption of New Technologies will be the major driving force for Waste Management Industry.”
The industry demands for an eco friendly approach of waste management. The current process though incurring less cost, however, are can be made more effective with adoption of new technologies. Waste management companies are required to attract investments from local governments to overcome the operation challenges in the adoption of the new technologies.