Overview of Global Energy Chemicals and Oil Market from Waste Plastic – Recovery & Technologies – Recycled Plastics & Plastic Waste to Oil (Plastic Waste Products, Plastic Packaging Waste), Industry Analysis, Size, Share, Growth, Trends And Forecast, 2014 – 2020.

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Global Energy Chemicals and Oil Market from Waste Plastic
– Recovery & Technologies – Recycled Plastics & Plastic
Waste to Oil (Plastic Waste Products, Plastic Packaging
Waste), Industry Analysis, Size, Share, Growth, Trends And
Forecast, 2014 – 2020
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2. ABSTRACT
With the increasing trend of recycling and recovering from waste and initiatives towards the
preservation of non-renewable resources, the process of deriving chemicals and oil (petroleum)
from waste plastic is gaining momentum. Waste plastic, broken down into petroleum, contains
more energy than coal and hence is a profitable way of recovering energy. A number of
companies entering the business collect and convert waste plastic into clean fuel, proving both
economically and environmentally beneficial. The advent of ‘plastic generation’, created serious
issues that revolved around plastic usage and its disposability.
Countries all over the world face issues of waste management and landfills. The US alone
has been producing over 31 million tons of plastic, out of which a very small percentage is
recycled. Over the years, various solutions proposed (diversion, burning, etc.) have not been cost
effective, energy efficient or environmentally sound. Countries with a specialised focus on waste
management strategies have provided incentives for organisations to take initiative in recovery
of energy through viable means. Extracting energy from waste plastic is done through a process
called pyrolysis- a process that melts plastic in the absence of oxygen, turning it into petroleum.
Globally, a number of companies have been attempting to commercialise this technology,
however, only few have managed to get a foothold in the market. Organizations in this industry
buy waste plastic from local sanitation companies and process it in the manufacturing plants with
almost extracting 80% fuel from the plastic.
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