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Economic analysis of the circular economy based on waste plastic pyrolysis oil: a case of the university campus

Recently, the concept of a circular economy for carbon neutrality is emerging. In particular, waste plastics are one of the key wastes, and efforts are being made to recycle them as energy rather than dispose of them. Accordingly, the technology of producing and utilizing pyrolysis oil from waste pl...

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Detalles Bibliográficos
Autores principales: Park, Hayoung, Kim, Kayoung, Yu, Mirae, Yun, Zhihao, Lee, Sanghun
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Netherlands 2023
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10014391/
https://www.ncbi.nlm.nih.gov/pubmed/37363013
http://dx.doi.org/10.1007/s10668-023-02963-1
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author Park, Hayoung
Kim, Kayoung
Yu, Mirae
Yun, Zhihao
Lee, Sanghun
author_facet Park, Hayoung
Kim, Kayoung
Yu, Mirae
Yun, Zhihao
Lee, Sanghun
author_sort Park, Hayoung
collection PubMed
description Recently, the concept of a circular economy for carbon neutrality is emerging. In particular, waste plastics are one of the key wastes, and efforts are being made to recycle them as energy rather than dispose of them. Accordingly, the technology of producing and utilizing pyrolysis oil from waste plastics attracts attention. As it is an early stage of technology development, however, there are not many demonstrations and papers that analyze the technology broadly. The goal of this study is to propose building a circular economy on a university campus through waste plastic pyrolysis oil technology. To show its feasibility, waste plastic pyrolysis oil technology is analyzed comprehensively from economic, environmental, and policy perspectives using the scenario analysis technique on the university campus level. A methodology of the scenario analysis technique enables predicting the uncertainties. Since plastic pyrolysis oil technologies and carbon neutrality are accompanied by many uncertainties, this technique is expected to be an appropriate methodology for this study. First, the amount of pyrolysis oil production from waste plastics from the campus is estimated. Then, the cost and carbon emissions from waste plastics are estimated if the pyrolysis oil technology is used instead of the traditional waste disposal process. As a result, the total economic profits of up to 425,484,022 won/year (354,570.01 $/year) are expected when a circular economy is built using waste plastic pyrolysis oil. In addition, it is also confirmed that greenhouse gas (GHG) emissions can be reduced by up to 840,891 kgCO(2)eq/year. The waste plastic pyrolysis oil satisfies Korea’s gas pollutant standards and is consistent with the GHG reduction policy. It can be concluded that building a circular economy at the university campus level using waste plastic pyrolysis oil technology is suitable from economic, environmental, and policy perspectives.
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spelling pubmed-100143912023-03-15 Economic analysis of the circular economy based on waste plastic pyrolysis oil: a case of the university campus Park, Hayoung Kim, Kayoung Yu, Mirae Yun, Zhihao Lee, Sanghun Environ Dev Sustain Article Recently, the concept of a circular economy for carbon neutrality is emerging. In particular, waste plastics are one of the key wastes, and efforts are being made to recycle them as energy rather than dispose of them. Accordingly, the technology of producing and utilizing pyrolysis oil from waste plastics attracts attention. As it is an early stage of technology development, however, there are not many demonstrations and papers that analyze the technology broadly. The goal of this study is to propose building a circular economy on a university campus through waste plastic pyrolysis oil technology. To show its feasibility, waste plastic pyrolysis oil technology is analyzed comprehensively from economic, environmental, and policy perspectives using the scenario analysis technique on the university campus level. A methodology of the scenario analysis technique enables predicting the uncertainties. Since plastic pyrolysis oil technologies and carbon neutrality are accompanied by many uncertainties, this technique is expected to be an appropriate methodology for this study. First, the amount of pyrolysis oil production from waste plastics from the campus is estimated. Then, the cost and carbon emissions from waste plastics are estimated if the pyrolysis oil technology is used instead of the traditional waste disposal process. As a result, the total economic profits of up to 425,484,022 won/year (354,570.01 $/year) are expected when a circular economy is built using waste plastic pyrolysis oil. In addition, it is also confirmed that greenhouse gas (GHG) emissions can be reduced by up to 840,891 kgCO(2)eq/year. The waste plastic pyrolysis oil satisfies Korea’s gas pollutant standards and is consistent with the GHG reduction policy. It can be concluded that building a circular economy at the university campus level using waste plastic pyrolysis oil technology is suitable from economic, environmental, and policy perspectives. Springer Netherlands 2023-03-15 /pmc/articles/PMC10014391/ /pubmed/37363013 http://dx.doi.org/10.1007/s10668-023-02963-1 Text en © The Author(s), under exclusive licence to Springer Nature B.V. 2023, Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Article
Park, Hayoung
Kim, Kayoung
Yu, Mirae
Yun, Zhihao
Lee, Sanghun
Economic analysis of the circular economy based on waste plastic pyrolysis oil: a case of the university campus
title Economic analysis of the circular economy based on waste plastic pyrolysis oil: a case of the university campus
title_full Economic analysis of the circular economy based on waste plastic pyrolysis oil: a case of the university campus
title_fullStr Economic analysis of the circular economy based on waste plastic pyrolysis oil: a case of the university campus
title_full_unstemmed Economic analysis of the circular economy based on waste plastic pyrolysis oil: a case of the university campus
title_short Economic analysis of the circular economy based on waste plastic pyrolysis oil: a case of the university campus
title_sort economic analysis of the circular economy based on waste plastic pyrolysis oil: a case of the university campus
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10014391/
https://www.ncbi.nlm.nih.gov/pubmed/37363013
http://dx.doi.org/10.1007/s10668-023-02963-1
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