Pune, India, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Solid Recovered Fuel Market Size
The global solid recovered fuel market size was valued at USD 4.63 billion in 2021. The market is projected to grow from USD 4.75 billion in 2022 to USD 6.00 billion by 2029, exhibiting a CAGR of 3.4% during the forecast period. This information is projected by Fortune Business Insights, in its report titled, “Solid Recovered Fuel Market, 2022-2029.”
Solid Recovered Fuel Industry Development:
December 2021: BMH Technology provided a biomass fuel handling system to Sappi Kirkniemi Mill, a Finland-based company. The recent most fuel handling system will direct the way for the present boiler in line with present environmental goals as it has a tendency to end the era of coal as a fuel. The boiler's upcoming fuel supply comprises biomass, namely forest waste as well as bark.
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| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 3.4% |
| Solid Recovered Fuel Market2029 Value Projection | USD 6.00 Billion |
| Base Year | 2021 |
| Solid Recovered Fuel Market Size in 2021 | USD 4.63 Billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 195 |
| Segments covered | Solid Recovered Fuel Market Size, Share & COVID-19 Impact Analysis, By Waste Type (Biodegradable Waste, Recyclable Material, Inert Waste, and Composite Waste), By Application (Cement Kiln, Electricity, and Heat) Regional |
| Growth Drivers | Implementation of Secondary Fuels to Thrust Demand |
| Important Business-related Announcements by Key Players to Influence Market Dynamics |
Solid Recovered Fuel Market Drivers and Restraints:
Implementation of Secondary Fuels to Thrust Demand
Sustainable development is significantly hampered by the creation of waste from diverse municipal, industrial, and residential sectors. It is common knowledge that various greenhouse gases (GHGs) generated from garbage play a significant role in global GHG emissions.
Additionally, with ongoing urbanization, garbage has become a problem for emerging as well as industrialized nations. However, the creation of garbage presents a significant opportunity for sustainable development, as waste to energy is a viable method to lower these GHG emissions.
COVID-19 Impacts:
Shutdown of Production Facilities and Interruptions in Supply Chain Displayed Sluggish Growth amid Pandemic
As a result of the uptick in economic activity and the resumption of business and social movements in 2021, over 5% more garbage was disposed of while 20% more waste was recycled.
Due to this, the production of trash had the potential to either rise or fall throughout the pandemic, depending on the region. Significant institutions, such as enterprises and schools, which frequently generate large amounts of rubbish, have been closed for time being.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/solid-recovered-fuel-market-101463
Report Coverage:
The report presents a holistic study of the market along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions, or driving factors to spur the solid recovered fuel market growth is also mentioned in the report. Step by step, thorough regional analysis is offered. The COVID-19 impacts have been added to the report to help investors and business owners understand the threats better.
Solid Recovered Fuel Market Segmentation:
Inert Waste Accounts for the Dominant Share due to Increased Amount of Construction Waste
Based on waste type, the market is segmented into biodegradable material, recyclable type material, composite waste, and inert waste. The inert waste segment is likely to hold a dominant market share owing to the large consumption of construction and demolition waste, dirt, rocks, and debris.
Cement Industry is Among the Leading Energy Consuming Industries Due to which it Accounts for Dominating Share
The demand for solid recovered fuel across the globe falls under energy-intensive industries such as cement and thermal power plants, which make the use of secondary fuels as substitutes for fossil ones, which means a benefit in terms of both less dependence on fossil fuels and lower environmental impact.
The SRF market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Solid Recovered Fuel Market Regional Insights:
Asia Pacific to Lead Backed by Surging Construction Activities
Due to rising construction activity, which surges the demand for the cement sector, the primary consumer of Solid Recovered Fuels (SRF), the Asia Pacific region is projected to hold the lion's share of the market.
Europe holds the largest solid recovered fuel market share. Trade between important nations such as Germany, the U.K., France, and other neighbors has been facilitated by factors such as the presence of significant SRF producers and the growing reliance on secondary fuel sources for energy generation.
In North America, municipal solid garbage has also grown significantly during the previous three years. Governments are concentrating on implementing important technologies to maintain trash output and utilize it sustainably as a result.
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Solid Recovered Fuel Competitive Landscape:
Important Business-related Announcements by Key Players to Influence Market Dynamics
Important market players frequently announce significant business decisions, which have a favorable or negative impact on the market. Players buy businesses, introduce products, enter into collaboration agreements, agree to terms with governmental bodies, and so forth.
Solid Recovered Fuel Companies Analyzed:
- Veolia (France)
- Enva (Ireland)
- Renelux Group (Greece)
- Geminor (Norway)
- Beauparc (Dublin)
- Axion Ltd. (Cheshire)
- BMH Technology (Finland)
- Andusia Holdings Limited (England)
- ENVIRONNEMENT MASSIF CENTRAL (France)
- Probio Energy International (England)
Solid Recovered Fuel Market Segmentation:
By Waste Type:
- Biodegradable Waste
- Recyclable Waste
- Inert Waste
- Composite Waste
By Application:
- Cement Kiln
- Heat
- Electricity
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Table of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions & Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Key Developments: Mergers, Acquisition, Partnerships, etc
4.3. Latest Technological Advancement
4.4. Insight on Regulatory Landscape
4.5. Porters Five Forces Analysis
5. Qualitative Analysis – Impact of COVID19
5.1. Impact of COVID-19 on the Solid Recovered Fuel Market
5.2. Steps Taken by the Government to Overcome the Impact
5.3. Key Developments in the Industry in Response to COVID-19
5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
6. Global Solid Recovered Fuel Market (USD Billion) Analysis, Insights, and Forecast, 2018-2029
6.1. Key Findings
6.2. Market Analysis, Insights and Forecast – By Waste Type
6.2.1. Biodegradable Material
6.2.2. Recyclable Material
6.2.3. Inert Waste
6.2.4. Composite Waste
6.3. Market Analysis, Insights and Forecast – By Application
6.3.1. Cement Kiln
6.3.2. Heat
6.3.3. Electricity
6.4. Market Analysis, Insights and Forecast – By Region
6.4.1. North America
6.4.2. Europe
6.4.3. Asia Pacific
6.4.4. Latin America
6.4.5. Middle East & Africa
Continued…
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