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Growing need to efficiently set up appropriate disposal methods for different wastes along with rising demand for electricity and heat generations is expected to positively affect the global solid recovered fuel market size. Solid Recovered Fuel (SRF), sometimes referred to as Refuse Derived Fuel, is recovered from industrial and household waste to produce electricity with significantly reducing the environmental footprint.
SRF plants usually operate near a Municipal Solid Waste (MSW) plant and work by dehydrating and shredding the flammable components in MSWs. Various feeds, including recyclable material, composite wastes, inert wastes, and biodegradable wastes are passed through a line of screens, shredders, magnets, and separators.
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On the basis of waste type, the global solid recovered fuel market is primarily divided into Recyclable Material, Biodegradable Waste, Composite Wastes, and Inert Waste. Biodegradable waste including paper, kitchen, food, and other green wastes is expected to hold significant share over the forecast timeframe owing to its better availability. Recyclable material is projected to observe substantial growth as it includes everyday trashes like clothes, plastics, bottles, glass, fabrics, cans, and many more, which can be easily collected for efficient operations.
Based on application, the global solid recovered fuel market can be majorly segmented into cement kiln, CHP, and others. SRF is widely used as a direct replacement for fossil fuels in cement kilns across the world due to its effective high-temperature combustion by implementing minimum process changes. CHP segment is anticipated to observe significant growth owing to SRF’s ability to enhance the flexibility of the process along with providing high energy recovery.
Increasing inclination towards electricity generation through clean fuels to effectively curb the overall carbon emissions is set to cater to the global solid recovered fuel market growth. Favorable policies by various governments and organizations to adopt green energy for different heat & power production applications is expected to further propel the industry outlook.
Elevated cost of setting up a new processing facility along with limited availability of the appropriate location for the plant may tend to hinder the industry landscape. Inadequate supply of required feedstock at times along with existing cheap fuel alternatives might also affect the market trends.
Key participants that are operating across the global solid recovered fuel market are Veolia, Machinex, Enva, PAPREC, BMH Technology Oy, SUEZ UK, Herambiente, Ferrovial, JFE Engineering Corp, Beauparc Group, Axion Group, Environnement 48, MTB, and Andusia Holdings Limited.
By Waste Type
The global solid recovered fuel market has been bifurcated into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Presence of bulk-sized plants along with advanced solutions for the efficient operation of plants is projected to positively drive the North American industry size. European solid recovered fuel market is expected to hold significant share owing to the substantial amount of SRF producers in the region along with green energy directives by the European Union. Increasing demand for electricity along with the development of large industrial infrastructure is anticipated to fuel the Asia Pacific industry landscape.
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