Pyrolysis is the process of thermal decomposition of plastics at a high temperature in an inert atmosphere. Waste plastic pyrolysis is a technique applied to convert plastic waste into energy in the form of liquid, solid, and gaseous fuels. This process is carried out at different temperatures (300°c-900°c) in the absence of oxygen. It involves the thermal degradation of complex molecules or large chain hydrocarbons into minute molecules. Various kinds of catalysts are utilized to enhance the pyrolysis process of plastic waste and improve the efficiency of this process.
One of the primary factors driving the market is the growing demand for plastics that affects petroleum and renewable fossil fuels as plastics are based on petroleum-based materials. Besides this, waste plastic pyrolysis is gaining traction as it can be used for the disposal of the plastic waste and also find a substitute for the fuel as the fuel from the natural resources is very limited and will be finished soon if continuously used with the current consumption rate. In addition, with the increasing population, the basic fuel requirements, such as electricity, transportation, and fuel for cooking, have been increasing. This is escalating demand for liquid fuel among the masses as the properties of the fuel obtained by pyrolysis is the same as that of the natural extracted fuel, which represents another factor contributing to the market growth. Furthermore, several favorable regulations implemented by governments of various nations to control plastic waste due to the reckless use of plastics are supporting the market growth. Moreover, technological advancements to improve the efficiency of energy yielded from waste, growing environmental concerns, increasing research and development (R&D) to reduce installation costs of plastic to fuel generation plants, and rapid urbanization and industrialization are some of the other factors creating a positive market outlook.
The report provides a techno-commercial roadmap for setting up a waste plastic pyrolysis manufacturing plant. The study covers all the requisite aspects that one needs to know while making a foray into the waste plastic pyrolysis industry. This ranges from a macro overview of the market to micro details of the industry performance, key success and risk factors, manufacturing requirements, project cost, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake in the waste plastic pyrolysis industry.
The project report covers the following aspects of the waste plastic pyrolysis market:
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