During pyrolysis, plastic polymers are thermally degraded by heating them within the absence of oxygen. The most products of the pyrolysis process are liquid and gaseous, producing only a small amount of solid. The pyrolysis process is one among the foremost promising technologies within the conversion of waste plastics into top quality oil. The number and quality of the pyrolysis products depend on the waste plastics composition and therefore the process parameters (temperature, duration, catalyst, etc.)
Waste plastic pyrolysis in liquid fuel (gasoline, diesel oil, etc.) or chemical raw materials not only can effectively solve the matter of white pollution, but can also alleviate the energy shortage to a particular extent. Recycling of waste plastics is predicted to become the foremost effective way. Waste plastics’ recycling, regenerating, and utilizing became a hot spot of research and gradually formed a replacement industry. Plastic has created a worldwide epidemic of increased waste disposal issues in key economies and developing countries. Thus, the implementation of stringent regulations has compelled market players within the recycled plastic and plastic waste to oil market to devise environmental-friendly strategies to convert plastic waste into useful fuel.
The global plastic waste to oil market is expected to increase from ~US$ 45 Mn in 2019 to ~US$ 100 Mn by 2027. Plastic waste to oil can be defined as a technology that is used to convert non-recycled plastic into synthetic crude oil and other value-added petroleum products such as diesel, gasoline, naphtha, and fuel oil. This is an advanced waste conversion technology that is considered complementary to the existing plastic recycling technology. Plastic waste to oil technology has high potential, as landfill-bound plastics can be used as a resource to develop a valuable alternative fuel source. Entrepreneurs who invest in this project will be successful.
Few Indian major players are as under
Chevron Phillips Chemicals India Pvt. Ltd.
Dream Green Petro-Chem Pvt. Ltd.
M K Aromatics Ltd.