When waste plastic is pyrolyzed, it becomes oil. Processing discarded plastic at high temperatures of 300–500°C converts it into liquid oil that is similar to conventional petroleum products. In Korea, approximately 10 million tons of waste plastic are generated annually. Traditional disposal methods such as shredding or mechanical recycling have low recycling rates, and contaminated plastics are particularly difficult to recycle. As ESG considerations gain prominence, demand is increasing not only for proper disposal of waste plastics but also for their environmentally friendly utilization, drawing significant attention to pyrolysis technology.
[Fig] Production Process of Waste Plastic Pyrolysis Oil
Waste plastic pyrolysis oil is a global trend. In Korea, LG Chem and SK Geo Centric are leading the market. LG Chem plans to complete a plant for mass production of pyrolysis oil in 2024, while SK Geo Centric plans to do so in 2025. Both companies are also discussing cooperation with local governments to ensure stable collection of waste plastics, which serve as feedstock for pyrolysis oil. Globally, companies such as SABIC (Netherlands), Ebara-Ube (Japan), and BASF (Germany) are also building plants and producing waste plastic pyrolysis oil at scale.
[Fig] Groundbreaking Ceremony for LG Chem’s Waste Plastic Pyrolysis Oil Plant
Challenges by domestic startups are also active. Eco-In Energy Co., Ltd. (CEO: In Lee), a waste plastic pyrolysis oil startup, successfully raised 2.2 billion KRW (Pre-A) after being recognized for its technological capabilities. Unlike conventional facilities, Eco-In Energy’s pyrolysis equipment is developed in a modular form, allowing mobility and installation in spaces of various sizes. In particular, deployment at sites operated by environmentally conscious large corporations and local governments is expected to solve on-site waste plastic disposal issues while enabling resource recovery. Based on the investment raised, Eco-In Energy plans to mass-produce pyrolysis oil processing modules and enter the rapidly emerging waste plastic pyrolysis market.
[Fig] Eco-In Energy Co., Ltd.’s Waste Plastic Pyrolysis Oil Processing Module
Mid-sized domestic company Jinyoung Co., Ltd. (CEO: Youngsoo Shim) is diversifying its business into waste plastic pyrolysis oil by acquiring Korea Eco Energy Co., Ltd. Korea Eco Energy has completed construction of two waste plastic pyrolysis oil facilities (covering approximately 1,100 pyeong) in Yeongcheon. In addition, through further investment, the company plans to install a total of 16 pyrolysis oil production facilities by 2026. With financial support and investment from Jinyoung, Korea Eco Energy is expected to supply energy to local demand companies, contributing not only to new business creation but also to regional energy supply stability.
[Fig] Waste Plastic Pyrolysis Oil Facilities Built by Korea Eco Energy Co., Ltd.
The government is also expanding the use of waste plastic pyrolysis oil as part of its energy diversification strategy. The Ministry of Environment announced the “Waste Plastic Pyrolysis Activation Plan.” Specifically, it plans to increase the share of pyrolysis from 0.1% in 2020 to 10% by 2030. Various support policies are being promoted to expand the application of pyrolysis technology.
[Fig] Government Energy Supply Policy:
“Projected Share of Facility Capacity under the 9th Basic Plan for Long-Term Electricity Supply and Demand”
The BLT Patent & Law Firm Research Center commented that “the waste plastic pyrolysis oil market is expected to expand rapidly under government leadership. In response to these changes in energy supply policy, it is critical for companies to establish appropriate strategies.” The Center emphasized that “companies need to secure rights by developing not only waste plastic pyrolysis processing technologies but also new business models utilizing them.”
As of 2024, BLT Patent & Law Firm has been chosen by more than 2,000 innovative startups as a partner, supporting corporate growth and success through IP acquisition and strategy development, investment attraction, and IP-based business support such as technology-special listing.
#WastePlasticPyrolysisOil #WastePlastic #PyrolysisOil #EcoInEnergy #KoreaEcoEnergy #Jinyoung #LGChem #SKGeoCentric #SABIC #Ebara #BASF
When waste plastic is pyrolyzed, it becomes oil. Processing discarded plastic at high temperatures of 300–500°C converts it into liquid oil that is similar to conventional petroleum products. In Korea, approximately 10 million tons of waste plastic are generated annually. Traditional disposal methods such as shredding or mechanical recycling have low recycling rates, and contaminated plastics are particularly difficult to recycle. As ESG considerations gain prominence, demand is increasing not only for proper disposal of waste plastics but also for their environmentally friendly utilization, drawing significant attention to pyrolysis technology.
[Fig] Production Process of Waste Plastic Pyrolysis Oil
Waste plastic pyrolysis oil is a global trend. In Korea, LG Chem and SK Geo Centric are leading the market. LG Chem plans to complete a plant for mass production of pyrolysis oil in 2024, while SK Geo Centric plans to do so in 2025. Both companies are also discussing cooperation with local governments to ensure stable collection of waste plastics, which serve as feedstock for pyrolysis oil. Globally, companies such as SABIC (Netherlands), Ebara-Ube (Japan), and BASF (Germany) are also building plants and producing waste plastic pyrolysis oil at scale.
[Fig] Groundbreaking Ceremony for LG Chem’s Waste Plastic Pyrolysis Oil Plant
Challenges by domestic startups are also active. Eco-In Energy Co., Ltd. (CEO: In Lee), a waste plastic pyrolysis oil startup, successfully raised 2.2 billion KRW (Pre-A) after being recognized for its technological capabilities. Unlike conventional facilities, Eco-In Energy’s pyrolysis equipment is developed in a modular form, allowing mobility and installation in spaces of various sizes. In particular, deployment at sites operated by environmentally conscious large corporations and local governments is expected to solve on-site waste plastic disposal issues while enabling resource recovery. Based on the investment raised, Eco-In Energy plans to mass-produce pyrolysis oil processing modules and enter the rapidly emerging waste plastic pyrolysis market.
[Fig] Eco-In Energy Co., Ltd.’s Waste Plastic Pyrolysis Oil Processing Module
Mid-sized domestic company Jinyoung Co., Ltd. (CEO: Youngsoo Shim) is diversifying its business into waste plastic pyrolysis oil by acquiring Korea Eco Energy Co., Ltd. Korea Eco Energy has completed construction of two waste plastic pyrolysis oil facilities (covering approximately 1,100 pyeong) in Yeongcheon. In addition, through further investment, the company plans to install a total of 16 pyrolysis oil production facilities by 2026. With financial support and investment from Jinyoung, Korea Eco Energy is expected to supply energy to local demand companies, contributing not only to new business creation but also to regional energy supply stability.
[Fig] Waste Plastic Pyrolysis Oil Facilities Built by Korea Eco Energy Co., Ltd.
The government is also expanding the use of waste plastic pyrolysis oil as part of its energy diversification strategy. The Ministry of Environment announced the “Waste Plastic Pyrolysis Activation Plan.” Specifically, it plans to increase the share of pyrolysis from 0.1% in 2020 to 10% by 2030. Various support policies are being promoted to expand the application of pyrolysis technology.
[Fig] Government Energy Supply Policy:
“Projected Share of Facility Capacity under the 9th Basic Plan for Long-Term Electricity Supply and Demand”
The BLT Patent & Law Firm Research Center commented that “the waste plastic pyrolysis oil market is expected to expand rapidly under government leadership. In response to these changes in energy supply policy, it is critical for companies to establish appropriate strategies.” The Center emphasized that “companies need to secure rights by developing not only waste plastic pyrolysis processing technologies but also new business models utilizing them.”
As of 2024, BLT Patent & Law Firm has been chosen by more than 2,000 innovative startups as a partner, supporting corporate growth and success through IP acquisition and strategy development, investment attraction, and IP-based business support such as technology-special listing.
#WastePlasticPyrolysisOil #WastePlastic #PyrolysisOil #EcoInEnergy #KoreaEcoEnergy #Jinyoung #LGChem #SKGeoCentric #SABIC #Ebara #BASF