Stringent Government Regulations Promote Global Recycled Plastic and Plastic Waste to Oil Market

San Francisco, California, August 03, 2018: Concerns over mounting plastic waste is no longer limited to environmentalists. It has become a global concern and this has led to unique methods for treating plastic. One of those is converting it back to oil which is fast becoming commercially popular. And it has spawned the recycled plastic and plastic waste to oil market. A recently added market study by TMR Research, titled, “Recycled Plastic & Plastic Waste to Oil Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” informs that plastic to oil conversion technology is seeing swift adoption because the abundant feedstock has little economic value.

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Not only does it help to produce alternative energy but also address the problem of fast depleting fossil fuels. Other USP includes reduced impact on the environment. Apart from such stringent regulations, other factors serving to boost the recycled plastic and plastic waste to oil market is the stringent rules being framed by governments of nations to prevent pollution.

Currently, Europe holds a prominent position in the recycled plastic and plastic waste to oil market because of the massive amount of plastic debris found in municipal waste streams (MWS). The U.S. is also considered as a key region in the market due to the presence of a copious number of technology players who are embarking on pilot projects for converting plastic waste into synthetic oil. The Asia Pacific recycled plastic and plastic waste to oil market, on the other hand, is expected to showcase impressive growth in the near term, because of the modernization of different plastic-to-fuel technologies.

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Some of the prominent participants in the global recycled plastic and plastic waste to oil market are Agilyx Inc., Cynar Plc, Vadxx Energy LLC, Nexus Fuels, and Clean Blue Technologies Inc. These players are seen trying to consolidate their positions, particularly in regional markets.

Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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