The picture shows the fully continuous pyrolysis plant we delivered to the Czech Republic in July 2021. This European customer will use it to process waste plastics. The main components of the pyrolysis equipment are made of 310S stainless steel. All electrical components are internationally renowned brands such as Siemens, ABB, and Schneider. The fully automatic pyrolysis plant is expected to arrive in the Czech Republic at the end of August. Mingjie engineers will set off to the customer site in early September.
Market Analysis of Continuous Pyrolysis Plants for Plastic in Europe
The market size of continuous pyrolysis plant for plastic in Europe has the potential to grow, but it also faces some challenges.
The EU has introduced a series of policies to promote plastic recycling, such as the "European Strategy for Plastics in a Circular Economy". It aims to achieve sustainable development goals, protect the environment and reduce greenhouse gas emissions. This provides policy guidance and support for the development of continuous pyrolysis plants for plastics, which will help expand the market size.
Society's attention to environmental sustainability continues to increase, and the problem of plastic pollution is becoming increasingly important. Continuous pyrolysis plants for plastics can convert non-recyclable plastics into valuable resources, such as pyrolysis oil fuel.
The plastic pyrolysis oil market is showing a good development trend. It is expected that the global plastic pyrolysis oil market will grow from approximately US$500 million in 2024 to US$1.5 billion by 2033. The compound annual growth rate is about 13%. As one of the important markets in the world, Europe is also expected to increase its demand for plastic pyrolysis oil, which will in turn drive the expansion of the market size of continuous pyrolysis plants for plastics.
