발전 산업용 대체 연료 및 원료(AFR) 시장 : 시장 점유율 분석, 산업 동향 및 통계 데이터, 성장 예측(2026-2031년)

According to Mordor Intelligence, the alternate fuel and Raw Materials Market For Power Generation Industry size is projected to be USD 1.99 billion in 2025, USD 2.21 billion in 2026, and reach USD 3.09 billion by 2031, at a CAGR of 6.93% from 2026 to 2031.

This report is Segmented by Fuel Type (RDF, SRF, and Others), Raw Material Type (Fly Ash, and Others), Applications (Utility-Scale Power Generation, and Other Applications), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Value (USD).

Insights and Trends of Alternate Fuel and Raw Materials (AFR) Market For Power Generation Industry

Dispatchable Low-Carbon Power Demand

Wind and solar growth have increased the need for power assets that can produce electricity when intermittent sources are unavailable. Waste-to-energy plants can supply base-load electricity and useful heat, which gives the alternate fuel and raw materials for power generation market a role alongside renewable generation. EEW Energy from Waste and enercity started work in 2025 to raise usable heat output at Hannover-Lahe from 50 MW to 85 MW through a steam turbine bypass. Germany's solar generation moved into 2nd place in the national power mix in 2025, ahead of natural gas, which increased the case for thermal plants to improve their operating flexibility. EEW's 15 MWh battery storage installation at Premnitz in 2026 shows how a thermal waste plant can add grid services to its existing energy role. These capabilities can improve the value of long-term energy contracts because operators can respond to grid conditions as well as supply energy.

Landfill Diversion and Circular-Economy Mandates

The EU Landfill Directive requires member states to reduce municipal waste going to landfill to 10% by 2035. It also restricts the landfilling of waste suitable for recycling or energy recovery from 2030, which supports demand for organized waste treatment. These rules make disposal alternatives more important for municipalities and support long-term arrangements for waste-derived fuels in the alternate fuel and raw materials for power generation market. France revised energy-efficiency requirements for solid recovered fuel production and co-incineration installations in December 2025, adding plant-level performance conditions that encourage higher-quality fuel preparation. In markets with landfill restrictions, facilities must manage recoverable waste through recycling or energy recovery, which supports predictable feedstock flows but also increases the importance of permit-ready capacity. Quality-assured procurement platforms can further support these flows by linking fuel quality, calorific value, and delivery terms in a common transaction process.

Feedstock Quality and Moisture Variability

Feedstock quality and moisture variability remain a direct operating constraint for fuel producers and receiving facilities. Municipal waste in tropical and subtropical areas can contain 50% to 60% moisture by weight during monsoon periods, reducing the calorific value of RDF. A 2024 study found that manufacturing efficiency at SRF production and use facilities averaged 69.5%, with results varying according to the combustible content in incoming waste. These differences affect calorific value and emissions performance, and they can lead to penalties under quality-band contracts. Competing uses for sustainable biomass residues can further limit access to consistent material, especially where pellet, heat, or agricultural uses offer stronger returns. Operators need screening, sorting, and contracts tied to measured quality if the alternate fuel and raw materials for power generation market is to avoid margin pressure from inconsistent input streams.

Other drivers and restraints analyzed in the detailed report include:

1. Industrial Coal and Petcoke Substitution
2. Carbon-Negative Power and Biogenic Carbon Monetization
3. High Logistics Cost and Limited Economical Haul Distance

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Refuse-derived fuel held 34.8% of the alternate fuel and raw materials for power generation market share in 2025. Its position reflects established co-processing agreements at cement kilns and utility boilers across Europe and Asia. RDF remains useful where operators need a lower-cost substitute for fossil fuels and have equipment designed for mixed-quality material. Solid recovered fuel is the fastest-growing fuel sub-segment, with an 8.4% CAGR from 2026 to 2031. The higher-specification fuel complies with EN ISO 21640 and can support tighter energy offtake and carbon-compliance requirements.

A 2025 review in ACS Energy & Fuels found that SRF-derived syngas from gasification can support combined heat and power generation and hydrogen-based fuel production. This creates options beyond traditional combustion co-firing for suppliers that can provide consistent material. Biomass remains important in Southeast Asia and South America, where rice husks, wood chips, and palm kernel shells can provide available feedstocks. Waste plastics have high calorific value, but their use depends on rules for non-recyclable fractions because circular economy policies give priority to mechanical recycling. Biomethane and biogas are also developing where organic waste can be linked with local gas and district heating systems.

Complete Report Scope:

• By Fuel Type
  • Refuse-Derived Fuel (RDF)
  • Solid Recovered Fuel (SRF)
  • Biomass
  • Waste Plastics
  • Other Fuel Types
• By Raw Material Type
  • Fly Ash
  • Blast Furnace Slag
  • Foundry Sand
  • Steel Slag
  • Other Raw Material Types
• By Application
  • Utility-Scale Power Generation
  • Waste-to-Energy Plants
  • Coal-Fired Power Plant Co-Firing
  • Combined Heat and Power
  • Other Applications
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • United Kingdom
    • Poland
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
    • Vietnam
    • Thailand
    • Rest of Asia-Pacific
  • South America
    • Brazil
    • Argentina
    • Chile
    • Rest of South America
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Egypt
    • South Africa
    • Morocco
    • Rest of Middle East and Africa

Geography Analysis

Europe accounted for 39.5% of the alternate fuel and raw materials for power generation market share in 2025. The region has a mature asset base where modernization, heat recovery, and fuel quality management are more important than broad new capacity additions. The EU landfill framework creates a clear policy basis for diverting recoverable waste from disposal. France's 2025 SRF requirements show how national rules can move quality standards into plant-level operating conditions. North America combines concession-led waste-to-energy operations with growing interest in SRF at cement and pulp and paper facilities.

Asia-Pacific is forecast to grow at an 8.8% CAGR through 2031, making it the fastest-growing regional part of the alternate fuel and raw materials for power generation market. India's 2025 policy created mandatory biomass pellet demand across coal-based thermal power plants outside Delhi-NCR. The policy also introduced a municipal solid waste charcoal requirement for plants in Delhi-NCR. Vietnam's co-firing activity shows that high blending levels can be achieved, although equipment and fuel-handling changes remain necessary for wider use. The pace of adoption depends on infrastructure as much as policy.

South America and Middle East and Africa have smaller, less mature positions within the alternate fuel and raw materials for power generation market. Brazil's RDF gasification work indicates that local project data can support commercial models suited to regional waste streams. Gulf countries are incorporating waste-to-energy within circular economy programs, and centralized waste control can aid feedstock aggregation. Progress depends on whether public projects can move to bankable independent power producer structures.

1. A2A S.p.A.
2. Andusia Recovered Fuels Limited
3. Averda International Limited
4. Biffa Limited
5. Blue Phoenix Group B.V.
6. Covanta Holding Corporation
7. Ecoserv
8. EEW Energy from Waste GmbH
9. Enva Group Limited
10. FCC Servicios Medio Ambiente Holding, S.A.U.
11. Geminor AS
12. Geocycle SA
13. Indaver NV
14. PreZero International GmbH
15. REMONDIS SE & Co. KG
16. Renewi plc
17. SARIA SE & Co. KG
18. SUEZ S.A.
19. Veolia Environnement S.A.
20. Waste Management, Inc.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET LANDSCAPE

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Dispatchable Low-Carbon Power Demand
  • 4.2.2 Landfill Diversion and Circular-Economy Mandates
  • 4.2.3 Industrial Coal and Petcoke Substitution
  • 4.2.4 Biogas and Biomethane Integration with Existing Gas Infrastructure
  • 4.2.5 Quality-Assured AFR Procurement Platforms
  • 4.2.6 Carbon-Negative Power and Biogenic Carbon Monetization
• 4.3 Market Restraints
  • 4.3.1 Feedstock Quality and Moisture Variability
  • 4.3.2 High Logistics Cost and Limited Economical Haul Distance
  • 4.3.3 Competing Uses for Sustainable Biomass Residues
  • 4.3.4 Permitting, Community Acceptance and Emissions Retrofit Risk
• 4.4 Supply-Chain Analysis
• 4.5 Regulatory Landscape
• 4.6 Technological Outlook
• 4.7 Porter's Five Forces Analysis
  • 4.7.1 Bargaining Power of Suppliers
  • 4.7.2 Bargaining Power of Buyers
  • 4.7.3 Threat of New Entrants
  • 4.7.4 Threat of Substitutes
  • 4.7.5 Competitive Rivalry

5 MARKET SIZE AND GROWTH FORECASTS

• 5.1 By Fuel Type
  • 5.1.1 Refuse-Derived Fuel (RDF)
  • 5.1.2 Solid Recovered Fuel (SRF)
  • 5.1.3 Biomass
  • 5.1.4 Waste Plastics
  • 5.1.5 Other Fuel Types
• 5.2 By Raw Material Type
  • 5.2.1 Fly Ash
  • 5.2.2 Blast Furnace Slag
  • 5.2.3 Foundry Sand
  • 5.2.4 Steel Slag
  • 5.2.5 Other Raw Material Types
• 5.3 By Application
  • 5.3.1 Utility-Scale Power Generation
  • 5.3.2 Waste-to-Energy Plants
  • 5.3.3 Coal-Fired Power Plant Co-Firing
  • 5.3.4 Combined Heat and Power
  • 5.3.5 Other Applications
• 5.4 By Geography
  • 5.4.1 North America
    • 5.4.1.1 United States
    • 5.4.1.2 Canada
    • 5.4.1.3 Mexico
  • 5.4.2 Europe
    • 5.4.2.1 Germany
    • 5.4.2.2 France
    • 5.4.2.3 Italy
    • 5.4.2.4 Spain
    • 5.4.2.5 United Kingdom
    • 5.4.2.6 Poland
    • 5.4.2.7 Russia
    • 5.4.2.8 Rest of Europe
  • 5.4.3 Asia-Pacific
    • 5.4.3.1 China
    • 5.4.3.2 India
    • 5.4.3.3 Japan
    • 5.4.3.4 South Korea
    • 5.4.3.5 Australia
    • 5.4.3.6 Indonesia
    • 5.4.3.7 Vietnam
    • 5.4.3.8 Thailand
    • 5.4.3.9 Rest of Asia-Pacific
  • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Argentina
    • 5.4.4.3 Chile
    • 5.4.4.4 Rest of South America
  • 5.4.5 Middle East and Africa
    • 5.4.5.1 Saudi Arabia
    • 5.4.5.2 United Arab Emirates
    • 5.4.5.3 Egypt
    • 5.4.5.4 South Africa
    • 5.4.5.5 Morocco
    • 5.4.5.6 Rest of Middle East and Africa

6 COMPETITIVE LANDSCAPE

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share Analysis
• 6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share, Products and Services, Recent Developments)
  • 6.4.1 A2A S.p.A.
  • 6.4.2 Andusia Recovered Fuels Limited
  • 6.4.3 Averda International Limited
  • 6.4.4 Biffa Limited
  • 6.4.5 Blue Phoenix Group B.V.
  • 6.4.6 Covanta Holding Corporation
  • 6.4.7 Ecoserv
  • 6.4.8 EEW Energy from Waste GmbH
  • 6.4.9 Enva Group Limited
  • 6.4.10 FCC Servicios Medio Ambiente Holding, S.A.U.
  • 6.4.11 Geminor AS
  • 6.4.12 Geocycle SA
  • 6.4.13 Indaver NV
  • 6.4.14 PreZero International GmbH
  • 6.4.15 REMONDIS SE & Co. KG
  • 6.4.16 Renewi plc
  • 6.4.17 SARIA SE & Co. KG
  • 6.4.18 SUEZ S.A.
  • 6.4.19 Veolia Environnement S.A.
  • 6.4.20 Waste Management, Inc.

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

• 7.1 White-Space and Unmet-Need Assessment