Thermolysis produces plastic pyrolysis oil that can be used by the chemical industry in the manufacturing of new virgin quality plastic or refined oil that can be used by refineries as a mix to produce transportation fuel, to meet regulatory requirements. It also produces carbon black used by the industry in a variety of applications. These products represent valuable building blocks in the circular economy and the plastics value chain.
The demand for recovered monomers and feedstocks is expected to grow significantly in the future. Global plastic production will soar from 368 Mt in 2019 to 1Bt by 2050. Only a tenth of lobal plastic waste generated is recycled, with the remainder being landfilled, incinerated, or lost to the environment. Mechanical recycling is the most prevalent method of recycling plastic today. This process, but it can only address a portion of plastic waste and is an incomplete solution to the problem of plastic waste. Chemical recycling can help bridge the recycling capacity gap by offering a solution to recycle plastic which is currently unrecyclable through mechanical means. Chemical recycling also produces virgin-quality polymers that can be continuously recycled. In this way, chemical recycling complements existing mechanical recycling capability to boost overall recycling rates, driving the shift towards a circular economy for plastic. Theer are various incentives globally fro the use of plastic recycling products and the coresponding market is forecasted to be few billion in the years to come.