June 25, 2024

The Asia (Japan, South Korea, China, India, ASEAN) Waste and Biomass Valorization Market is driven by growing environmental concerns

The Asia (Japan, South Korea, China, India, ASEAN) region generates a substantial amount of waste and biomass from various industrial and agricultural processes on a daily basis. Waste and biomass valorization refers to the conversion of waste or biomass resources into value-added products like chemicals, fuels and other useful byproducts. With growing environmental concerns regarding waste management and recycling, various technologies are being utilized to treat waste and biomass in a sustainable manner. Waste and biomass resources can be valorized through different processes like anaerobic digestion, gasification, pyrolysis etc to produce biogas, syngas and bio-oil. These products have applications as transportation fuels, power generation fuels and chemical feedstocks. With strict waste management regulations and renewable energy goals, many countries in the Asia region are promoting waste and biomass valorization projects.

The global Asia (Japan, South Korea, China, India, ASEAN) Waste and Biomass Valorization Market is estimated to be valued at US$ 124.2 billion in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends in the Asia (Japan, South Korea, China, India, ASEAN) Waste and Biomass Valorization Market is the growing adoption of anaerobic digestion technology. Anaerobic digestion is a biological process where microorganisms breakdown biodegradable material in the absence of oxygen inside an airtight container called an anaerobic digester. It is used widely to treat different types of waste streams including agricultural waste, food waste, industrial waste, etc. The end-products include biogas which is a renewable energy source and digestate which is a nutrient-rich organic fertilizer. Countries like China, India, Vietnam are investing heavily in building large scale centralized and decentralized anaerobic digestion facilities near areas of high waste generation. This is facilitating sustainable waste management and circular economy principles.

Porter’s Analysis

  • Threat of new entrants: The threat of new entrants is moderate as extensive capital requirements are needed for building facilities and waste management infrastructure. However, growing environmental concerns and supportive government policies promote new small players.
  • Bargaining power of buyers: The bargaining power of buyers is moderate as large number of waste producers put less pressure on pricing. However, strict regulations regarding waste disposal raise buyer’s bargaining power.
  • Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of waste from diverse sources including industrial, agricultural and municipal. Suppliers have less pricing influence.
  • Threat of new substitutes: The threat of new substitutes is low as waste-to-energy conversion has limited substitutes. However, alternate renewable technologies can pose potential threat.
  • Competitive rivalry: Intense as major players compete on factors like technology, capacity and financing.

Key Takeaways

The Asia (Japan, South Korea, China, India, ASEAN) Waste and Biomass Valorization Market is expected to witness high growth. The growing population, rapid urbanization and industrial development in the region have increased waste generation. Stringent waste management regulations further drive the market.

Regional analysis – China dominates the regional market owing to large waste volumes and supportive government policies. India is the fastest growing market encouraged by initiatives like Swachh Bharat Abhiyan for sustainable waste management. Other Asian countries like Japan, South Korea and ASEAN nations also offer lucrative opportunities with widening waste treatment infrastructure.

Key players – Key players operating in the Asia (Japan, South Korea, China, India, ASEAN) Waste and Biomass Valorization Market are Hitachi Zosen Inova AG, Suez, Keppel Seghers Belgium NV, VTT Technical Research Centre of Finland Ltd., AMEC Foster Wheeler, Babcock & Wilcox Enterprises and Abu Dhabi National Energy Company PJSC.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it