Economic feasibility of energy recovery from waste plastic using pyrolysis technology: an Australian perspective

Abstract

The disposal of waste plastics has turned into a huge global environmental dilemma. This paper aims to assess the economic viability of the current level of energy recovery out of plastic waste by using a pyrolysis thermal treatment. The primary objective is to assess the potential calorific value of plastic waste in order to utilize as an energy source and generate value-added materials from waste. First, a generalized process flowsheet is employed, and the material balance is specified. Then, a profitability analysis is conducted for the proposed pyrolysis process. For the economic assessment, a waste plastic feed rate of 40 tonnes/day is assumed. Costs for individual pieces of equipment are either rigorously calculated or adapted from the literature. The results indicate that a 54% rate of return on investment (ROI) can be achieved if the plastic is collected, transported, and delivered at the processing site free of charge. This is a reasonable assumption as this is mostly carried out by the local councils using the revenue from ratepayers and the waste can be combined with no separation required for various types of plastic. This ROI can be further improved by increasing the size of the plant, due to economies of scale. Therefore, the outcomes of this research affirm that the pyrolysis treatment of waste plastics is viable in Australia from a technical as well as economical point of view.