Asia (Japan, South Korea, China, India, ASEAN) Waste and Biomass Valorization Market Growth Accelerated by Developing Renewable Energy Sector

 

Waste and biomass valorization refer to the process of converting waste and biomass resources, such as municipal solid waste (MSW), agricultural waste and forestry residues into valuable products that include chemicals, materials and fuels through various thermochemical and biochemical processes. The rising awareness regarding sustainable waste management and increasing focus on development of renewable energy have accelerated the production of fuels and materials from waste and biomass. The global Asia (Japan, South Korea, China, India, ASEAN) Waste and Biomass Valorization Market is estimated to be valued at US$ 118.9 billion in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023-2033, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing utilization of biomass and municipal solid waste for energy production in developing renewable energy sector across Asia Pacific countries has been a key market trend. Countries like China, India, Japan, and South Korea are emphasizing on the development of renewable sources of energy to address energy security concerns and mitigate environmental challenges arising from conventional fuel usage. For instance, the Chinese government aims to increase the share of non-fossil fuels in primary energy consumption to around 20% by 2030. This is boosting the adoption of advanced waste to energy technologies for renewable power generation from urban and agricultural waste in the region.

Segment Analysis

The Asia (Japan, South Korea, China, India, ASEAN) waste and biomass valorization market is dominated by the energy recovery segment. Energy recovery being the most viable application for waste-to-energy conversion, utilizes various waste streams like municipal solid waste, biomass, plastic waste etc to generate energy through processes like incineration, pyrolysis and gasification. Municipal solid waste accounts for the largest share within the energy recovery segment. Rapid urbanization and changing consumption patterns in Asia have led to substantial increase in municipal waste generation outpacing existing waste management infrastructure, thereby driving the adoption of waste-to-energy technologies for sustainable waste management.

Key Takeaways

The Asia (Japan, South Korea, China, India, ASEAN) waste and biomass valorization market is expected to witness high growth on account of rising environmental awareness, stringent regulations around waste management and growing need for sustainable alternatives to fossil fuels.

Regional analysis: China dominates the Asia waste and biomass valorization market backed by supportive government policies and initiatives promoting waste-to-energy projects over the last decade. Countries like India and Indonesia are emerging as fast growing markets driven by growing urbanization and industrialization.

Key players: Key players operating in the Asia (Japan, South Korea, China, India, ASEAN) waste and biomass valorization market are Hitachi Zosen Inova, China Everbright, Covanta, Veolia, Suez, Keppel Seghers Belgium NV.

Comments

Post a Comment

Popular posts from this blog

Nonylphenol Ethoxylate Market Size 2023 | Key Growth Drivers and Latest Opportunities

Image
Nonylphenol Ethoxylate  Nonylphenol ethoxylate (NPE) is a group of nonionic surfactants that are commonly used in a variety of industrial and household applications. They are produced by reacting nonylphenol with ethylene oxide, resulting in a range of products with varying degrees of ethoxylation. NPEs have been used in detergents, cleaning products, and personal care products as a surfactant, emulsifier, and wetting agent. They are also used in industrial applications, such as in the production of textiles, paper, and leather. However, NPEs have been found to be persistent in the environment, and are known to be toxic to aquatic life. They are also known to disrupt the endocrine system of animals, including humans, by mimicking the effects of estrogen. For these reasons, the use of NPEs has been restricted or banned in some countries, including the European Union and Canada. Many manufacturers have switched to using alternative surfactants, such as alcohol ethoxylates, which are cons
Read more

Hydrogen Peroxide Market Unveiled: Exploring Global Trends, Growth Drivers, and Future Prospects

Image
  Hydrogen Peroxide Market Overview Hydrogen peroxide (H₂O₂) is a chemical compound with a variety of industrial and consumer applications. It is a pale blue liquid, commonly used as a disinfectant, bleaching agent, and oxidizer. The hydrogen peroxide market is driven by its extensive use across various sectors, including healthcare, paper and pulp, textiles, food processing, electronics, and water treatment. Market Drivers Healthcare Industry:  Hydrogen peroxide is widely used as a disinfectant and antiseptic in the healthcare sector. It is employed for cleaning wounds, sterilizing medical equipment, and as a mouthwash. The ongoing emphasis on healthcare and hygiene has contributed to the  hydrogen peroxide market growth . Paper and Pulp Industry:  Hydrogen peroxide is utilized as a bleaching agent in the paper and pulp industry. It helps to whiten paper products and remove impurities, contributing to the production of high-quality paper. Textile Industry:  In the textile sector, hydr
Read more

Polyferric Sulfate Market Analysis: Growth, Trends, and Opportunities

Image
Polyferric sulfate, also known as PFS, is a chemical compound that finds widespread application in various industries. This inorganic coagulant is primarily utilized for water treatment and purification processes. It is an iron-based coagulant that is highly effective in removing impurities, such as suspended solids, organic matter, and contaminants, from water sources. Polyferric sulfate is known for its superior coagulation and flocculation properties, making it a preferred choice for treating both industrial and municipal water supplies. The market for polyferric sulfate has witnessed significant growth over the years due to increasing concerns about water quality and the need for efficient water treatment solutions. As populations grow, industrial activities expand, and environmental regulations become more stringent, the demand for reliable water treatment chemicals like polyferric sulfate has surged. This has led to a robust market expansion, driven by the critical role that PFS
Read more