Artificial Intelligence
Plastic to Fuel Market Size Worth $8.8 Billion by 2028 at 15.8% CAGR | The Insight Partners
The Insight Partners published latest research study on ‘Plastic to Fuel Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Technology (Pyrolysis, Gasification, and Depolymerization) and End Product (Crude Oil, Hydrogen, and Others) and Geography,’ the global plastic to fuel market size was valued at $3.64 Billion in 2022 and is projected to reach $8.80 Billion by 2028; it is expected to grow at a CAGR of 15.8% from 2022 to 2028.
Download Sample Brochure of Plastic to Fuel Market Size – COVID-19 Impact and Global Analysis with Strategic Developments at: https://www.theinsightpartners.com/sample/TIPRE00008127/
Plastic to Fuel Market Report Scope & Strategic Insights:
|
Report Coverage  |
Details |
|
Market Size Value in |
US$ 3.64 Billion in 2022 |
|
Market Size Value by |
US$ 8.80 Billion by 2028 |
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Growth rate |
CAGR of 15.8% from 2022 to 2028 |
|
Forecast Period |
2022-2028 |
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Base Year |
2022 |
|
No. of Pages |
118 |
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No. Tables |
40 |
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No. of Charts & Figures |
61 |
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Historical data available |
Yes |
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Segments covered |
Technology, End Product and Geography |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
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Country scope |
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Plastic to Fuel Market: Competitive Landscape and Key Developments
Agilyx; Klean Industries Inc.; nexus FUELS, LLC; Plastic2Oil, Inc.; Cassandra Oil AB; Bradam Group, LLC.; RESYNERGI; MK Aromatics Limited; Plastic Advanced Recycling Corp.; and OMV Aktiengesellschaft are among the key plastic to fuel market players that are profiled during this study. In addition to these players, several other essential market players were also studied and analyzed to get a holistic view of the global plastic to fuel market and its ecosystem.
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In 2021, Partnership between Agilyx and NextChem aims to boost the implementation of chemical recycling facilities globally by using Agilyx’s advanced pyrolysis technology of converting mixed waste plastic into circular olefins and fuels.
In 2021, Despite unfavorable conditions in 2020, OMV has hit several milestones. It hit milestone by transforming 250 t of post-consumer plastics into synthetic oil.
In recent years, continuous technical development in recycling and waste disposal has provided a huge opportunity for the plastics-to-fuel sector. Countries such as Turkey, India, and Saudi Arabia have set a target of significantly decreasing their carbon footprint by 2030. As a result of these developments, the demand for pyrolysis oil in the fuel-producing sector has increased. The world economy is projected to improve after the COVID-19 epidemic, which means that energy demands will skyrocket in the next years. In addition, increased R&D to reduce the cost of installing plastic fuel generating facilities is expected to drive the market size in forthcoming period. The plastic to fuel market participants is likely to benefit from technological improvements in energy generation to enhance the efficiency of waste-derived energy.
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Increasing Energy Requirement:
Electricity is at the heart of modern economies, and it accounts for an increasing proportion of energy services. As a result of increased family incomes, electrification of transportation and heat, and a rise in demand for digital linked gadgets and air conditioning, the energy demand is expected to rise even more. Based on the current stated policies Scenario, the global electricity consumption will grow at a rate of 2.1% per year until 2040, more than double the rate of primary energy demand. As a result, electricity’s share of total final energy consumption will increase from 19% in 2018 to 24% in 2040. In emerging nations, the increase in energy consumption is projected to be particularly large.
Government policies, market conditions, and available technology all work together in the Stated Policies Scenario to shift energy supply toward low-carbon sources, with their share growing from 36% (current share) to 52% in 2040. Furthermore, the rising electricity demand was one of the main reasons why global CO2 emissions from the power sector reached a new high in 2018. The mentioned aspects related to use of low-carbon sources will create the demand for technologies converting low grade plastic into fuels. This factor will positively boost the plastic to fuel market size. However, the commercial availability of a diverse range of low-emission generation technologies places electricity at the forefront of efforts to combat climate change and pollution, which is increasing the demand for alternate solutions, thereby resulting in plastic to fuel market analysis.
Due to the COVID-19 outbreak, Russia, the UK, France, Italy, Spain, and Germany are some of the worst affected member states in the European region. Businesses in the region face severe economic difficulties as they had to suspend their operations or substantially reduce their activities. Due to nationwide lockdowns and supply chain disruptions, the countries in the region experienced an economic slowdown in 2020 and, most likely, the impacts are expected to prevail in 2021. The COVID-19 outbreak has triggered the use of plastic in the European however, the plastic to fuel recyclers struggled to source sufficient volume of plastic waste to convert the same to fuel. This hindered the annual sales of plastic to fuel companies, thereby, impacted the plastic to fuel market analysis negatively.
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Due to the disruption in businesses of plastic to fuel market growth caused from supply of plastic waste, the market players in Europe have adopted numerous strategies. For instance, in 2020, Viridor and PLASTIC ENERGY have signed a Memorandum of Understanding (MoU) to develop a new project which would convert up to 30,000 tonnes of unrecycled plastic to recycled oils every year. Similarly, UK’s first plastic to hydrogen plant nears construction, as the Front-End Engineering Design (FEED) phase has completed. Likewise, Clariant and VUCHT, a part of Duslo, Slovakia, are transforming plastic to diesel. The two companies signed an agreement in 2020 towards implementing the strategy to develop winter diesel from plastic waste.
Plastic to Fuel Market: Technology Overview
Based on technology, the global plastic to fuel market size is segmented into pyrolysis, gasification, and depolymerization. The pyrolysis technology dominated the plastic to fuel market share in 2021, accounting for the bulk of worldwide sales. This approach is more efficient than other technologies at processing mixed, unclean, and dirty polymers. Furthermore, the technique can produce a variety of fuel types, such as biofuel, solid residue, and synthetic gas. During the projected period, these reasons are expected to boost the plastic to fuel market growth for the pyrolysis segment.
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Browse Adjoining Reports:
Waste Management Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Industrial waste, Municipal waste, Bio-medical waste, Other); Disposal Method (Recycling, Collection, Landfill, Others); Other (Services, Region) and Geography
Pyrolysis Gasoline Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Raw Pyrolysis Gasoline, Hydrogenated Pyrolysis Gasoline); Application (Aromatics Extraction , Refinery Feedstock, Fractionation for Benzene, Other) and Geography
Gasification Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Entrained, Moving or Fixed Bed, Fluidized Bed.); Application (Chemicals, Gas Fuels, Power, Liquid Fuels); Feedstock (Coal, Natural Gas, Petroleum, Biomass) and Geography
Coal Gasification Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Feedstock Type (Coal, Petroleum Coke, Natural Gas, Biomass, Other); Application (Chemicals and Fertilizers, Liquid Fuels, Gaseous Fuels, Others); Gasifier (Fixed Bed, Entrained Flow, Fluidized Bed) and Geography
Industrial Waste Management Market Forecast to 2028 – Covid-19 Impact and Global Analysis – by Service (Collection, Recycling, Incineration, Landfill); Industry Vertical (Automotive, Chemical, Manufacturing and Construction, Oil and Gas, Mining and Metallurgy, Healthcare and Pharmaceutical, Food and Beverages, Textile, Others) and Geography
Nuclear Waste Management System Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Waste Type (Low-Level Waste, High Level Waste, Intermediate Level Waste, and Others), Reactor Type (Pressurized Water Reactor, Boiling Water Reactor, and Gas Cooled Reactor), and Disposal Options (Near Surface Disposal and Deep Geological Disposal)
Smart Waste Management Market Forecast to 2028 – Covid-19 Impact and Global Analysis – by Solution and Application
Waste Management Equipment Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Equipment Type (Disposal and Processing Equipment, Sorting Equipment, Collection and Transportation Equipment); Application (Construction and Building Waste, Industrial Waste, E-waste Management, Municipal Solid Waste, Medical and Healthcare Waste Management, Others); Process (Incineration, Recycling, Dumpsites/Landfill Treatment) and Geography
Mining Waste Management Market Forecast to 2028 – Covid-19 Impact and Global Analysis – by Type (Base Metals, Industrial Minerals, Precious Metals, Others); Mining Method (Surface Mining, Underground Mining); Waste Type (Tailings, Mine Water, Overburden/Waste Rock) and Geography
Fuel Card Market to 2027 – Global Analysis and Forecasts By Type (Branded Fuel Cards, Merchant Fuel Cards, and Universal Fuel Cards); Application (Fuel Refill, Parking, Vehicle Service, Toll Charge, and Others)
Artificial Intelligence
SUSE Unveils AI Strategy and Solutions with Early Access Program, to Foster Open, Compliant, and Secure Gen AI for Enterprises
SUSE To Build The Most Open, Secure, Enterprise-Grade GenAI Platform
BERLIN, June 18, 2024 /PRNewswire/ — (SUSECON 2024) — SUSE®, a global leader in innovative, open and secure enterprise-grade solutions, today unveiled SUSE AI, SUSE’s vision and strategy for open, secure, and enterprise-grade generative AI. SUSE AI offers a turn-key platform that provides enterprises the freedom to run private GenAI solutions with the LLM of their choice on-premises or in the cloud. Customers and partners are invited to join the SUSE AI Early Access Program, a collaborative initiative to inform the future of secure open source AI for enterprises.
“As the value of GenAI – and the need for it – becomes more and more apparent, we are seeing customers struggle with compliance risks, shadow AI, and a lack of control, not to mention the vendor lock-in and skyrocketing costs associated with early-stage AI solutions,” said Pilar Santamaria, VP of AI Worldwide at SUSE. “SUSE’s approach to AI, delivered in our SUSE AI solutions and the SUSE AI Early Access Program, will help address many of these issues for customers, as well as for SUSE, as we also face the same challenges as enterprises in implementing GenAI.”
SUSE AI SolutionsBuilding on customer, partner and community insights from the Early Access Program, SUSE AI solutions, which are planned to be launched later in 2024, will offer enterprises a modular, secure, vendor and LLM-agnostic GenAI platform that will dissolve silos and reduce costs associated with enterprise generative AI implementations. These AI solutions, built on SUSE’s industry-leading open source, enterprise-grade SUSE Linux, Rancher Prime Kubernetes management and NeuVector Prime security offerings, will enable enterprises to control data flows in a secure, private environment, reducing regulatory compliance risk and improving security. As enterprises grapple with balancing AI-driven innovations and associated risks, SUSE AI solutions will provide greater oversight for mission critical data to better harness the full potential of GenAI.
SUSE AI Early Access ProgramAligned with the organization’s commitment to collaboration and co-innovation, SUSE is launching SUSE AI Early Access Program, a collaborative initiative to provide a basis for secure and compliant open source generative AI in the enterprise. The SUSE AI Early Access Program brings together customers and partners with SUSE’s GenAI experts and will play a critical role in the future direction of SUSE AI solutions. Early Access Program customers will access the latest builds of the SUSE AI solution, as well as work with SUSE consultants and technical support to leverage SUSE AI solutions and realize the promise of Private AI.
SUSE AI Strategy and RoadmapSUSE approaches AI with a strong foundation in open source principles, a commitment to delivering security, and a belief that customer options, including privacy by design, is paramount. SUSE AI takes a responsible AI approach by which enterprises are empowered to choose the models and tools they prefer to get the most out of AI in a private, safe and secure environment.
AI at SUSE is a different AI, a “human first AI”. SUSE understands the value of responsible AI and strives to maximize the capabilities of AI alongside human talent, putting the person in center. AI will augment how work gets done, removing repetitive barriers and helping organizations scale, and innovate, at pace. SUSE focuses, not only on the benefits of AI, but also on the aspirational goals attached to each AI use case. SUSE’s AI roadmap will usher in a wave of enterprise ready AI, focused on protecting data and putting customers in control.
SUSE is dedicated to creating the top open AI platform that speeds up the development of AI models and applications. Our goal is to become the leading AI technology provider for enterprises, offering openness, choice, cost-efficiency, and simplicity, making AI accessible to everyone.
“The rapid evolution of AI, both as a technology and a market, has left many enterprises lacking the right fit solutions for their specific needs,” said Frank Feldmann, Chief Strategy Officer, SUSE. “With so much at stake, customers need flexibility to choose which AI technologies, including LLMs, to build with, to innovate faster in a secure way.”
Growing an AI Ecosystem, powered by SUSE SUSE’s portfolio is already helping customers unlock the potential of AI. Fujitsu, a global partner for digital and sustainability transformation has developed a private generative AI solution built using SUSE’s market-leading Kubernetes management platform, Rancher Prime and SUSE Linux Enterprise. This solution enables organizations to easily contextualize and query information in generative AI. With this solution, Fujitsu is meeting its customers’ need for a secure GenAI platform.
“Generative AI is helping to unlock innovation within our world. Our customers’ employees already use Generative AI in their private lives and naturally want to use this technology at work too. With our solution, they can do this in a secure and protected setting,” said Udo Würtz, Chief Data Officer, European Platform Business at Fujitsu. “As a trusted partner, SUSE supports us with our GenAI product strategy through their collaboration, expertise and commitment to choice for customers.”
Learn more about SUSE AI, visit SUSE AI.
About SUSESUSE is a global leader in innovative, reliable and secure enterprise open source solutions, including SUSE Linux Enterprise, Rancher and NeuVector. More than 60% of the Fortune 500 rely on SUSE to power their mission-critical workloads, enabling them to innovate everywhere – from the data center to the cloud, to the edge and beyond. SUSE puts the “open” back in open source, collaborating with partners and communities to give customers the agility to tackle innovation challenges today and the freedom to evolve their strategy and solutions tomorrow. For more information, visit www.suse.com.
Media contact: [email protected]
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End-to-end observability platform enhances Rancher Prime, enables customers to manage complexity at scale with confidence
BERLIN, June 18, 2024 /PRNewswire/ — (SUSECON 2024) — SUSE®, a global leader in innovative, open and secure enterprise-grade solutions, today announced that it has acquired the full stack observability platform StackState. StackState’s technology gives IT teams the fastest path to identifying and remedying issues within their containerized cloud-based environments through a single observability platform. With StackState, SUSE will accelerate cloud native observability for the enterprise by integrating the platform into Rancher Prime, its premium container management service.
SUSE CEO Dirk-Peter van Leeuwen said, “As IT environments become more complex, our Rancher Prime customers need end-to-end observability of their entire stack. StackState’s comprehensive infrastructure and application monitoring capabilities and technical talent are the perfect complement to Rancher Prime and sets up SUSE’s container management solutions to best serve our customers on their modernization journey. I know our customers will value it greatly as we roll it out.”
With the rapid adoption of cloud and containers, traditional monitoring approaches are becoming obsolete, driving the growth and need for cloud native observability. StackState’s end-to-end observability and application monitoring will be directly incorporated into SUSE’s Rancher Prime, the industry’s most widely adopted enterprise container management platform. This helps customers proactively safeguard their end-user’s experience, foster cross-team collaboration and innovation, and bring all of their cloud native applications together in a single view, from data center to the Edge to the cloud. To foster widespread adoption of cloud native observability, SUSE also announced its intention to open source StackState in the future.
As systems and devices continue to come online at an increasing rate, there will be an equally increasing demand for AI data analytics. StackState’s technology allows users to correlate events over a period of time to help identify root causes in complex distributed systems and suggests remedial actions. StackState’s capabilities will further enhance SUSE’s portfolio, and drive overall innovation, efficiency, and value for customers. This acquisition also opens up broad opportunities for future capabilities like Cost Management, smart issue remediation, environment optimization and Industrial IoT observability.
Andreas Prins, CEO of StackState said, “I am so proud of everything the team at StackState has built since we launched. We offer unparalleled observability to customers running mission critical workloads in complex environments. SUSE’s Rancher Prime is a great fit for our technology and our team – and I’m looking forward to seeing what we have built reach its full potential.”
SUSE CEO DP van Leewen has blogged about the deal here.
About SUSESUSE is a global leader in innovative, reliable and secure enterprise open source solutions, including SUSE Linux Enterprise, Rancher and NeuVector. More than 60% of the Fortune 500 rely on SUSE to power their mission-critical workloads, enabling them to innovate everywhere – from the data center to the cloud, to the edge and beyond. SUSE puts the “open” back in open source, collaborating with partners and communities to give customers the agility to tackle innovation challenges today and the freedom to evolve their strategy and solutions tomorrow. For more information, visit www.suse.com.
About StackState
https://www.stackstate.com/solutions/kubernetes-troubleshooting/https://www.stackstate.com/
Media contact: [email protected]
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Artificial Intelligence
Galilée AM to Standardize on Clearwater Analytics to Support Rapid Growth and Investment Operational Excellence
Streamlines Fund and Wealth Management Activities Across the Entire Investment Lifecycle with Clearwater JUMP
BOISE, Idaho and PARIS, June 18, 2024 /PRNewswire/ — Clearwater Analytics (NYSE: CWAN), a leading worldwide provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced that Galilée Asset Management (AM) will implement Clearwater JUMP to consolidate fund and wealth activities across its investment lifecycle. The platform’s deployment comes as Galilée AM seeks to support its rapid growth and consolidate its activities after acquiring several investment management companies.
Galilée AM specializes in fund and wealth management, primarily in equity and fixed income. The France-based company chose Clearwater JUMP for its end-to-end asset management platform that provides complete functional coverage for front, middle, and back-office investment operations. With Clearwater, Galilée AM aims to connect seamlessly with all its counterparties, leverage critical market data, and optimize trading processes.
“In Clearwater, we have found a long-term partner allowing us to centralize our multi-entity and multi-activity business on a single platform,” said Roni Michaly, CEO of Galilée AM. “Clearwater is a technological upgrade and a strategic move to consolidate our operations, drive efficiencies, and foster sustainable growth.”
In each of its entities Galilée AM has historically utilized multiple in-house solutions involving many manual processes for order consolidation. Clearwater’s JUMP suite of products will solve these inefficiencies and reduce costs with the Clearwater platform bringing data together for Galilée AM’s teams and giving users a consolidated view across the business. Galilée AM cited a world-class user experience, platform scalability, and quick implementation as reasons to implement Clearwater. Expected benefits for Galilée AM include a cohesive platform for all acquired entities, accurate group-level reporting, and streamlined middle-office activities to increase efficiency.
“Our partnership with Galilée AM exemplifies our commitment to delivering innovative, scalable solutions that meet the complex needs of today’s asset managers,” said Emmanuel Fougeras, President of Clearwater’s JUMP suite of products. “By choosing Clearwater JUMP, Galilée AM has embraced technological advancement and positioned itself for sustainable growth and operational excellence. We look forward to supporting their vision and continued expansion.”
To learn more about Clearwater Analytics, speak to an expert today.
About Galilée AM
Founded in 2000 and based in Strasbourg and Paris, Galilee AM offers multi-thematic expertise in fund and securities selection through its investment solutions for individual, professional and institutional clients. Its entrepreneurial structure and its capital independence from any banking or insurance network is the guarantee of great freedom in investment decisions. Galilee AM is a signatory to the PRI (UN Principles for Responsible Investment). For more information about Galilee Asset Management: www.galilee-am.com.
About Clearwater Analytics
Clearwater Analytics (NYSE: CWAN), a global, industry-leading SaaS solution, automates the entire investment lifecycle. With a single instance, multi-tenant architecture, Clearwater offers award-winning investment portfolio planning, performance reporting, data aggregation, reconciliation, accounting, compliance, risk, and order management. Each day, leading insurers, asset managers, corporations, and governments use Clearwater’s trusted data to drive efficient, scalable investing on more than $7.3 trillion in assets spanning traditional and alternative asset types. Additional information about Clearwater can be found at clearwateranalytics.com.
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