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Refuse-Derived Fuel Market in Numbers
- The refuse-derived fuel market was valued at ~US$ 2 Bn in 2018. The refuse-derived fuel industry was in a slump during 2014 to 2018, tugged by the underexploited potential of energy from waste (EFW) technologies.
- Growth of the refuse-derived fuel market marked a slight uptick, and status-quo is likely to endure, as new waste management solutions are emphasized abreast increasing municipal solid waste (MSW), reducing pressure on landfills.
- Use of refuse-derived fuel for co-processing in cement kilns accounts for ~50% market shares, helping the cement industry reduce its carbon footprint and save on energy consumption.
- Europe remains the frontrunner in the refuse-derived fuel landscape, owing to the presence of extensive co-processing plants, complemented by internal trade of refuse-derived fuel.
- The refuse-derived fuel market in Asia-Pacific excluding Japan (APEJ) is likely to record a relatively faster growth through 2029, as EFW gradually becomes an important source of bioenergy in the region.
Refuse-Derived Fuel Market: Competitive Assessment
Opportunities are plenty in the refuse-derived fuel market, and key stakeholders are vying to leverage these via organic expansion strategies in developed markets and digitization of systems for greater performance. The future objectives of economies worldwide is clear – chemicals from waste or waste to molecule – and the refuse-derived fuel manufacturers are focusing on refurbishment or replacement of their existing systems, moving to new technologies in a planned & phased manner. Stakeholders in the refuse-derived fuel market are focusing on consolidating their position in Europe, owing to the favorable legislations and technological vigor of the region. Governments in Europe are on their mark to leverage the potential of refuse-derived fuel in reducing the environmental impact, during waste conversion and the life-cycle of products consumed. Developing markets such as in APEJ, show promising growth opportunities for companies in the refuse-derived fuel market, as favorable policies continue to spur the capacity deployments in the region.
The refuse-derived fuel landscape is witnessing a paradigm inclination of companies toward strategies such as collaborations, joint ventures, and business expansion, to increase involvement across myriad segments of value chain. FactMR’s study opines that long-term stakeholder investment in established markets will translate to measurable returns, however the success rate will remain slow. On the contrary, long-term investment in developing markets will translate to average returns, while the success rate remains high.
What are Key Challenges Faced by Refuse-Derived Fuel Manufacturers?
- Restrictions and duties imposed on refused-derived fuel imports, and standards and regulations based on grade continue to remain key barriers for the market stakeholders to address.
- Bottlenecks remain in the financing and funding of the refuse-derived fuel projects, abreast the consolidation on the demand side. This, coupled with effective alternatives ensued from technological developments in the EFW landscape, will continue to challenge growth of companies in the refuse-derived fuel market.
- Lack of awareness and facilities related to the production of the refuse-derived fuel, and growing pressure from the European countries for quality refuse-derived fuel also remain key concerns for the market players.
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The insights and forecast of the refuse-derived fuel market offered in this study are backed a robust research methodology. Comprehensive primary interviews and secondary researches are involves in this research approach to gain bleeding-edge intelligence on the refuse-derived fuel market. Insights gained from the primary interviews are used to validate intelligence gained from the secondary sources. This report acts as a diligent source of information for businesses in the refuse-derived fuel market to make factual and triumphant strategies.
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