Refuse-derived fuel (RDF) helps manage municipal solid waste in an environment-friendly manner. RDF is produced by processing non-recyclable components of solid waste to reduce its volume and create a fuel that can be used in cement kilns and power plants. With growing concerns about proper waste management and decreasing reliance on landfilling, RDF has emerged as a sustainable solution.
The global Refuse-derived Fuel Market is estimated to be valued at US$ 4.91 Bn in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased adoption of RDF is one of the major trends in the market. With growing emphasis on proper waste management and limited land availability for landfilling, more countries and regions are promoting the use of waste-to-energy technologies like RDF. Manufacturers are also exploring advanced production technologies to further reduce the size of waste and increase the calorific value of RDF, making it suitable for broader applications like in industrial boilers. Key players are also focusing on capacity expansion and geographical footprint to cater to the growing demand. Overall, the market is expected to witness significant growth over the forecast period due to rising awareness and implementation of sustainable waste management solutions.
Segment Analysis
The global refuse-derived fuel market is segmented based on type into low grade fuel and high grade fuel. The high grade fuel segment dominates the market as it has higher calorific value than low grade fuel and produces fewer emissions on combustion. It is widely used in cement kilns for energy generation.
Key Takeaways
The Global Refuse-derived Fuel Market Size is expected to witness high growth over the forecast period 2023 to 2030. The increasing need for alternate fuels to mitigate reliance on fossil fuels is driving demand. The global Refuse-derived Fuel Market is estimated to be valued at US$ 4.91 Bn in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030.
Regional analysis
The Asia Pacific region currently dominates the market and is expected to continue its dominance over the forecast period. Rapid industrialization and urbanization in countries such as China and India are generating considerable waste that can be used for producing refuse-derived fuel. Key players in these countries are expanding their production capacities.
Key players
Key players operating in the refuse-derived fuel market are BD, ICU Medical, Smiths Medical, Medtronic, and B. Braun Melsungen. They are focusing on expanding production facilities and partnerships with cement manufacturers to increase revenue from refuse-derived fuel sales.
For More Insights, Read: https://www.newswirestats.com/refuse-derived-fuel-market-trends-growth-and-regional-outlook-2023-2030/
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