Solid Recovered Fuel Market Research Report By Type (Biomass, Plastic, Paper and Paperboard, Textiles, Others), By Market Application (Industrial Boilers, Power Generation, Cement Kilns, Others), By Form (RDF, SRF, Others), By Heating Value (Low (less than 10,000 Btu/lb), Medium (10,000-15,000 Btu/lb), High (15,000 Btu/lb or higher)), By End-Use Industry (Manufacturing, Power Generation, Cement Industry, Others) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Global Solid Recovered Fuel Market Overview

As per MRFR analysis, the Solid Recovered Fuel Market Size was estimated at 25.69 (USD Billion) in 2022. The Solid Recovered Fuel Market Industry is expected to grow from 27.35 (USD Billion) in 2023 to 48.0 (USD Billion) by 2032. The Solid Recovered Fuel Market CAGR (growth rate) is expected to be around 6.45% during the forecast period (2024 - 2032).

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Key Solid Recovered Fuel Market Trends Highlighted

Key market drivers for Solid Recovered Fuel (SRF) include rising waste generation and energy demand, coupled with stringent environmental regulations promoting sustainable waste management. Increasing landfill space scarcity and the need for alternative energy sources also fuel market growth. Moreover, government initiatives and incentives for SRF utilization further contribute to market expansion. Opportunities to be explored in the SRF market lie in the development of advanced conversion technologies, such as gasification and pyrolysis, which can enhance energy efficiency and produce higher-quality fuels. Additionally, expanding SRF applications in various industries, including cement manufacturing, power generation, and district heating, presents significant growth potential. Recent market trends indicate a growing focus on circular economy principles, promoting the use of SRF as a substitute for fossil fuels and reducing carbon emissions. The implementation of innovative waste sorting and recycling systems also supports the production and utilization of SRF, contributing to waste reduction and resource conservation.

Solid Recovered Fuel Market Drivers

Increasing Demand for Sustainable Waste Management Solutions

The increasing environmental issues and stringent regulations by the government regarding the disposal of waste have boosted the demand for waste sustainability management. Solid recovered fuel is a processed fuel produced from non-recyclable waste and is used as an alternative to fossil fuel. It is mainly preferred by various industries, as it would help in reducing greenhouse gases and also, the waste is diverted from the landfills. Cement manufacturing and power generation and other various industrial applications are implementing the usage of solid recovered fuel, which is a key factor that is driving the growth of the Solid Recovered Fuel Market Industry in the forthcoming years.

Rising Energy Prices and Depletion of Fossil Fuels

The fast-evolving price of fossil fuels and the paucity of natural resources have underlined the quest for alternative energy. SRF, the relatively higher heating value and cost-efficiency of which have been some of the prime factors driving the replacement of fossil fuel consumption across the cement and steel manufacturing homes and other energy-extensive industries, has been particularly gaining traction across the globe, driving the Solid Recovered Fuel Market Industry.

Governmental Policies and Incentives

Supportive policies and incentives being implemented around the world are driving the adoption of SRF and other sustainable energies. These measures are aimed at reducing carbon emissions, curbing climate change, and reinventing the linear economy into a renewable and circular one. Besides, the introduction of several financial incentives, such as tax holidays and subsidies, encourages businesses to engage in SRF production and use. Alongside this, enacting strict waste diversion policies and zero landfill guidelines are supporting the utilization of sustainable waste management options, including SRF.

Solid Recovered Fuel Market Segment Insights

Solid Recovered Fuel Market Type Insights

The Solid Recovered Fuel Market is divided into 5 segments based on their type, which are Biomass, Plastic, Paper and Paperboard, Textiles, and Others. The biomass segment is considered to be the largest one, holding 45% of the Solid Recovered Fuel Market revenue in 2023, due to the fact that plastic waste is considered to be an environmental problem and as a result of the increasing demand for such a product, the fastest growing segment is going to be the Plastic segment with 7.2% CAGR. Biomass is the largest segment of the Solid Recovered Fuel Market, accounting for 45% of market revenue in 2023. Biomass is obtained from organic materials among which are wood and other agricultural residues and animal waste. This type of energy is renewable and can be extracted from natural sources which are sustainable. Biomass can be used to generate electricity or heat or as petrol to travel.

The use of biomass is growing due to the belief that it is less harmful to the environment than the usage of fossil fuels and natural gas. Every form of energy has negative impacts on the environment, but biomass is considered to be less harmful in terms of gas emissions to the atmosphere. Thus, the demand for biomass is going to increase over the upcoming years. Plastic plastic is one of the main global environmental issues as it has a significant negative impact on the environment. Plastic is not a biodegradable material, and the usage of it continuously increases, creating dangers to people and the environment. Solid Recovered Fuel from plastics could decrease the use of plastic and the threats connected with it. Plastic is the second largest segment of Solid Recovered Fuel products, accounting for 25 % of 2023 of the Solid Recovered Fuel Market. Over the upcoming years, the use of Solid Recovered Fuel from plastic is going to increase with a 7.2% CAGR. Paper and Paperboard Paper and paperboard could amount to 20% in 2023 of the Solid Recovered Fuel Market. They are derived from wood pulp and have such applications as printing, packaging, as well as in textile and concrete production.

The demand for paper and paperboard is going to increase over the upcoming years due to the increased use of e-commerce and the packaging industry. Textiles segment with 10% in 2023 of the Solid Recovered Fuel Market, is the fourth one. Textiles may be synthetic or natural and find their applications in clothes, bedding, and recovery among others. The increasing population and the growing standard of living in developing countries will lead to an increased demand for textiles over the upcoming years. Fifty-five of the Solid Recovered Fuel Market share is obtained by the first 4 segments, and the rest is divided by other materials, starting from rubber and leather to glass. These are going to amount to 5% of the Solid Recovered Fuel Market in 2023. The usage of these materials for the production of Solid Recovered Fuel leads to a greener environment and the demand for such a product will increase over the upcoming years.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Solid Recovered Fuel Market Application Insights

Market Application Having a Major Share Industrial Boilers Based on the analysis of the solid recovered fuel market, power generation is expected to dominate the market in the next few years. The power market segment is expected to be the major source of the solid recovered fuel market’s revenue. Thus, power generation is a major distinction by market application. The primary reason for this state of affairs is the fact that an increasing proportion of the world's population requires a proportional amount of electricity.

Additionally, the discharge of strict environmental regulations, including the Kyoto Protocol and the SET Plan, supports the increased use of renewable energy. In contrast, the industrial boilers segment is expected to have a medium degree of dominance due to the fact that new uses of solid recovered fuel in other industries, including manufacturing, food processing, and pharmaceuticals, among others, continue to emerge. The cement kilns segment is considered to have a medium degree of dominance due to the state of recovery in the construction industry. The other segment is small and is not likely to have a significant share of the market.

Solid Recovered Fuel Market Form Insights

The Solid Recovered Fuel Market is segmented based on form into RDF, SRF, and Others. The RDF segment accounted for the largest market share in 2023, and it is expected to continue to dominate the market during the forecast period. The growing demand for RDF from cement industries is driving the growth of this segment. The SRF segment is also expected to witness significant growth during the forecast period, owing to its increasing adoption in power plants. The Others segment includes other forms of solid recovered fuel, such as fluff RDF and torrefied RDF, and this segment is expected to grow at a steady pace during the forecast period.

Solid Recovered Fuel Market Heating Value Insights

The Solid Recovered Fuel market segmentation by Heating Value is classified into Low (less than 10,000 Btu/lb), Medium (10,000-15,000 Btu/lb), and High (15,000 Btu/lb or higher). Among these segments, the Medium Heating Value segment held the largest market share in 2023, accounting for around 45% of the Solid Recovered Fuel market revenue. This dominance is attributed to the wide availability of feedstock with medium heating value and its suitability for various industrial applications. The High Heating Value segment is expected to witness significant growth during the forecast period, owing to increasing demand for high-energy fuels in industries such as cement and power generation. The Low Heating Value segment is projected to have a steady growth rate, primarily driven by its use in low-temperature applications and as a supplement to conventional fuels. The market growth for all segments is expected to be driven by factors such as rising energy costs, stringent environmental regulations, and growing awareness of the benefits of waste-to-energy solutions.

Solid Recovered Fuel Market End-Use Industry Insights

The End-Use Industry segment plays a crucial role in shaping the Solid Recovered Fuel Market. Manufacturing, Power Generation, Cement Industry, and Others are the key end-use industries for Solid Recovered Fuel, each contributing significantly to the market growth. In 2023, the Manufacturing industry accounted for the largest share of the Solid Recovered Fuel Market revenue, driven by the increasing demand for sustainable and cost-effective fuel alternatives in various manufacturing processes. The Power Generation industry follows closely, with the rising adoption of Solid Recovered Fuel as a renewable energy source in power plants. The Cement Industry also holds a notable market share due to the use of Solid Recovered Fuel as an alternative fuel source in cement production. The Others segment, which includes industries such as Mining, Pulp Paper, and Food Processing, is expected to witness significant growth in the coming years as more industries explore the benefits of Solid Recovered Fuel. Overall, the End-Use Industry segment of the Solid Recovered Fuel Market offers diverse growth opportunities, with each industry presenting unique demand dynamics and contributing to the overall market segmentation and data landscape.

Solid Recovered Fuel Market Regional Insights

The regional segmentation of the Solid Recovered Fuel Market offers valuable insights into the market dynamics and growth prospects across different regions. North America is expected to hold a significant share of the market in 2023, with a projected market size of 9.5 billion USD in 2024. Europe follows closely, with an estimated market valuation of 8.1 billion USD in 2024. APAC is expected to witness substantial growth in the coming years, driven by increasing industrialization and urbanization. The South American region is also projected to contribute to the market growth due to the rising demand for sustainable waste management solutions. The MEA region presents opportunities for market expansion as countries in the region focus on reducing waste and promoting renewable energy sources.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Solid Recovered Fuel Market Key Players And Competitive Insights

Ongoing trends in the Solid Recovered Fuel Market have been discussed in this report. The development of this industry as a whole consists of the major players of industrial Waste management contamination in all the sectors of the solid recovered fuel markets. It is expected that all testing and constraint requirements and results, product development or improvement, chemical analysis, and operation analyses of these companies will be pursued together to further develop this market segment of solid recovered fuels. Government research and development have improved technology and broadened Aideolagies’ expertise in many different aspects of waste management. They have also patented many innovative techniques for maximum efficiency, safety, and cost-effectiveness. The competitive spirit in the Solid Recovered Fuel Market is driven, among other things, by the solid waste market’s shift from curative to preventive solutions.

The Solid Recovered Fuel Market development industry is driven by companies expanding their consumer portfolios, building a presence around the world and being a leading force in the solid waste market by utilizing strategic partnerships, mergers, acquisitions, land building, and innovation. The main players in the Solid Recovered Fuel Market operate waste gasification plants and solid waste incinerators around the world. Vcoal is a forward-looking and innovative company. They have continuously increased their efforts in the solid waste market by providing a variety of services in various regions. The solid recovered fuels are produced and supplied. Vcoal The company has made every effort to be the industry leader, focusing on the satisfaction of the customers of various industries, with broad coverage around the world. As a result, Vcoal is widely recognized as a leading innovative company that provides innovative solutions and outstanding results for a comprehensive range of waste products in the solid waste market.

The availability of information, expertise, and solid waste solvent datasets to target specific topics. Focusing on such as detailed process knowledge, unique aspects of innovative technology, a large selection of processes, inert organic materials, a variety of unique bacteria and microorganisms tailored to your process, physical-chemical and biological solvents optimized for each application, evenly applied solvents to the process or additive product, efficient mechanisms for removing solvents, is able to greatly reduce the solid waste emission of all kinds of industries. Covanta is one business that manages almost all of our waste. The organization is among the few that are highly committed not only to the environment but to the people as well. Covanta is devised to be a sustainable system that can benefit the environment in multiple ways, including burning almost all types of waste. The solid recovered fuels produced by Covanta remain the only type that doesn’t increase a user’s ecological footprint. It mainly makes use of the system-certified workflow. It is a Greenhouse gas emission.

Key Companies in the Solid Recovered Fuel Market Include

• Waste Management


• Remondis


• Veolia Environnement


• Indaver


• Fordingbridge Inc.


• WM


• Covanta Holding Corporation


• Avangrid Inc


• Excelerate Energy Lp


• Urbaser


• Suez


• Biffa Plc


• ReEnergy Holdings LLC


• Repsol

Solid Recovered Fuel Market Industry Developments

The global Solid Recovered Fuel (SRF) market is expected to reach USD 34.85 billion by 2032, exhibiting a CAGR of 6.45% during the forecast period. Rising concerns over escalating landfill waste and stringent government regulations to promote sustainable waste management practices are driving market growth. The Asia Pacific region dominates the market, with China accounting for a significant share due to rapid industrialization and urbanization. Key industry players in the SRF market include Covanta Holding Corporation, Veolia, and Suez Environment. Recent advancements in SRF production technologies, such as the development of high-efficiency SRF processing plants, are expected to further drive market expansion. Moreover, increasing investments in waste-to-energy projects and supportive government policies are anticipated to bolster market growth in the coming years.

Solid Recovered Fuel Market Segmentation Insights

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  Solid Recovered Fuel Market Type Outlook

  
  
  
  
  • Biomass
  
  
  • Plastic
  
  
  • Paper and Paperboard
  
  
  • Textiles
  
  
  • Other
  
  
  
  

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  Solid Recovered Fuel Market Application Outlook

  
  
  
  
  • Industrial Boilers
  
  
  • Power Generation
  
  
  • Cement Kilns
  
  
  • Others
  
  
  
  

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  Solid Recovered Fuel Market Form Outlook

  
  
  
  
  • RDF
  
  
  • SRF
  
  
  • Others
  
  
  
  

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  Solid Recovered Fuel Market Heating Value Outlook

  
  
  
  
  • Low (less than 10,000 Btu/lb)
  
  
  • Medium (10,000-15,000 Btu/lb)
  
  
  • High (15,000 Btu/lb or higher)
  
  
  
  

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  Solid Recovered Fuel Market End-Use Industry Outlook

  
  
  
  
  • Manufacturing
  
  
  • Power Generation
  
  
  • Cement Industry
  
  
  • Others
  
  
  
  

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  Solid Recovered Fuel Market Regional Outlook

  
  
  
  
  • North America
  
  
  • Europe
  
  
  • South America
  
  
  • Asia Pacific
  
  
  • Middle East and Africa