Plastic2Oil Inc (PTOI)

[JBIIRULES]

Technology Insights...The pyrolysis technology...

The pyrolysis technology led the market and accounted for 65.3% share of the global revenue in 2019. This technique processes mixed, unwashed, and soiled plastics more efficiently than other technologies. Moreover, numerous fuel types can be generated through this technology such as biofuel, solid residue, and synthetic gas. These factors are anticipated to drive the pyrolysis technology during the forecast period.

End-fuel Insights

Crude oil led the market and accounted for 55.1% share of the global revenue in 2019. The wide application of crude oil produced from plastic in automobiles, boilers, ships, tractors and trucks, power generators, and construction machinery is projected to boost the market over the forecast period. The rising consumption of crude oil as a fuel in the U.S., China, Japan, India, and Brazil due to the burgeoning automotive industry in these countries is likely to propel the plastic to fuel the market over the forecast period once the COVID-19 pandemic is tackled.

Since the technology is under development, the market is fragmented with few companies providing commercial plastic to fuel technologies. The companies are now concentrating on offering shareholders long-term value in order to grow and survive in the market.

https://www.grandviewresearch.com/industry-analysis/plastic-to-fuel-market