Can used plastics become Resources? What is Idemitsu's "chemical recycling" initiative?

Lightweight, durable, and convenient, plastic is an indispensable part of our lives. On the other hand, a large amount of plastic is discarded every day around us. The amount reaches approximately 9 million tons per year (in Japan), and much of it is incinerated (thermal recycling). However, a new method of reusing this "used plastic" as Resources, called "oil-based chemical recycling," is now attracting attention.

Resources-poor Japan relies heavily on imports for crude oil, a key raw material for plastics. This led to the concept of an "urban oil field," which views the vast amount of plastic waste discarded domestically as Resources. The idea is to convert plastics, which have previously been discarded or incinerated, back into an oil with properties similar to crude oil, and then reuse it as a raw material for plastics. If this cycle can be realized, it could become a new Resources option for Japan.

Why is Idemitsu Kosan, a company that has supplied petrochemicals used as raw materials for plastics for many years, now venturing into plastic recycling? What kind of technology is petrochemical recycling?
Miyagishi (Executive Officer, General Manager of Basic Chemicals Department), who has been involved in the petrochemical business for many years and leads the oil-based chemical recycling business, and Kusama (Chemical Recycle Japan), who is active in the field, will discuss the possibilities of plastic Resources recycling together with comedian Hidekazu Takizawa of Machineguns (guest), who is also a garbage collector.

PIVOT: "Japan's Little-Known 'Urban Oil Fields' in Resources Poor Japan: The Reason for Turning Plastic Waste into Petroleum"