Work

Cost-optimal pathways towards net-zero chemicals and plastics based on a circular carbon economy

Year: 2022

Type: article

Abstract: Without disruptive change, greenhouse gas (GHG) emissions from fossil production of chemicals and plastics will double by 2050. The transition to net-zero GHG emissions requires a concerted strategy for the whole chemical industry due to its integrated supply chains. A cost analysis is needed to determine the required investments and to design carbon-pricing incentives. Here, we present cost-optimal investment pathways for the global production of chemicals and plastics by using a bottom-up process model that captures the complexity of the chemical industry. To accomplish net-zero, capital expenditures need to increase by 36-51 % over the next 30 years. In contrast, the total annualized cost could be similar (+4 %) to fossil-based production. Net-zero production and its costs will rely on the availability of renewable electricity and biomass. At the same time, high recycling rates are a key to keeping resource demands low and reducing the sensitivity to high resource prices.

Source: Computers & Chemical Engineering

DOI: 10.1016/j.compchemeng.2022.107798

Authors: Christian Zibunas, Raoul Meys, Arne Kätelhön, André Bardow

Institutions: RWTH Aachen University, Forschungszentrum Jülich, ETH Zurich

Language: English

Topic: Climate Change Policy and Economics

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Responsible consumption and production, Climate action, Industry, innovation and infrastructure

Open Access status: hybrid

Estimated APC paid: $4,070