Southeast Asia Waste-to-Energy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Southeast Asia Waste-to-Energy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Southeast Asia waste-to-energy market is expected to grow at a CAGR of around 3.5% during the forecast period. With the COVID-19 outbreak, the sector witnessed a significant negative impact. Lack of uncertainty for achieving the sustainable development’s goal in waste management, the sector witnessed slower developments on the waste-to-energy projects in 2020. Factors such as supportive government policies and schemes are expected to drive the market. However, the involvement of environmental concerns in technology like incineration is expected to hinder the market growth during the study period.

• Thermal technology is expected to dominate the waste-to-energy market in the coming years, owing to the increasing development in incineration and gasification technologies, as well as the increasing amount of waste generated, especially from the emerging economies of Asia-Pacific.

• Emerging waste-to-energy technologies, such as Dendro Liquid Energy (DLE), which is four times more efficient in terms of electricity generation, with additional benefits of no emission discharge and effluence problems at plant sites, are expected to create significant opportunities for the market players, over the coming years.

• Malaysia is one of the fastest growing countries in the Southeast Asian region. The country has ramped up its efforts in improving the waste management situation, in which waste-to-energy plays a key role.

Key Market TrendsGrowing Demand for Thermal-Based Waste-to-Energy Conversion

• Thermal technology is expected to account for the highest market share in the waste-to-energy market during the forecast period, owing to the increasing development of waste incineration facilities in the Southeast Asia region.

• It is estimated that plants, which utilize cogeneration of thermal power (heating and cooling), together with electricity generation, can reach optimum efficiencies of 80%.

• In the present scenario, incineration is the most well-known waste-to-energy technology for municipal solid waste (MSW) processing. However, waste-to-energy technologies, particularly incineration, produce pollution and carry potential health safety risks.

• As incineration involves the thermal combustion of waste products producing potentially harmful greenhouse gas emissions, the technology has faced opposition in developed countries, such as the European Union, due to environmental concerns. However, due to considerably lenient environmental regulations in developing countries, the technology is widely utilized in countries in the Asia-Pacific region, such as Thailand and Indonesia.

• The thermal-based waste-to-energy conversion is expected to lead the market, particularly in the growing economies of Southeast-Asia, where the rising urban population is expected to be the key contributing factor for increasing municipal solid waste (MSW).

Malaysia Expected to Witness Significant Growth

• For the development of waste-to-energy infrastructure in the country, the Malaysian Ministry of Housing and Local Government has collaborated with private players in the market.

• In 2020, Malaysia has two waste disposal methods i.e., unsound disposal (85%), and collection coverage (80%)

• The Housing and Local Government Ministry (KPKT) plans to set up six waste-to-energy (WTE) plants by 2025, with various technologies to be evaluated.

• In February 2021, Malaysia's Housing and Local Government Ministry launched a tender for a waste-to-energy (WTE) project in Sungai Udang, Malacca, under a public-private partnership (PPP) model. Similarly, in September 2020, KPKT announced the request for a proposal for a waste-to-energy project in Bukit Payong, Johor, also on a public-private partnership basis.

• In April 2021, Cypark Resources Bhd signed an agreement with the Melaka State government to join in a Waste-To-Energy (WTE) public-private partnership at Sungai Udang, Melaka.

• Additionally, in 2020, the Malaysian Investment Development Authority (MIDA) bridged a collaboration between BiON Group of Companies and SIRIM Tech Ventures Sdn Bhd (STV). Through this collaboration, MIDA and collaborating companies aim to develop potentials in the commercialization of ‘Waste to Energy’ (WTE) activities in ensuring sustainable waste management in the country.

• Therefore, owing to the above points, Malaysia is expected to witness significant growth during the forecast period.

Competitive Landscape

The Southeast Asia waste-to-energy market is moderately consolidated. The key players in the market include Mitsubishi Heavy Industries Ltd, Keppel Corporation, PT Yokogawa Indonesia, Veolia Environment SA, and Hitachi Zosen Corp among others.

Additional Benefits:

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

Companies Mentioned
 
Mitsubishi Heavy Industries Ltd
Keppel Corporation
PT Yokogawa Indonesia
Veolia Environment SA
Hitachi Zosen Corp
MVV Energie AG
Martin GmbH
Babcock & Wilcox Volund AS

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