Case study: Recycling systems & material recovery — a startup-to-enterprise scale story

In 2024, the Asia-Pacific region processed approximately 468 million tonnes of municipal solid waste annually, yet achieved an average material recovery rate of only 29%—a figure that masks extraordinary variation, from Singapore's 59% to Indonesia's 11%. This disparity represents both a crisis and an opportunity: the region's recycling and material recovery sector is projected to reach USD 89.7 billion by 2027, driven by regulatory pressure, corporate Scope 3 commitments, and the emergence of AI-powered sorting technologies that can achieve >95% purity rates. This case study examines how recycling operations in Asia-Pacific have scaled from pilot programs to enterprise-level implementations, unpacking the KPIs that separate successful ventures from failed experiments.

Why It Matters

The significance of recycling systems and material recovery in Asia-Pacific extends far beyond waste management—it sits at the nexus of climate mitigation, resource security, and economic development. According to the Asian Development Bank's 2024 Circular Economy Report, the region generates approximately 1.8 billion tonnes of waste annually, with projections indicating a 40% increase by 2035 if current consumption patterns persist. The environmental stakes are substantial: improper waste management contributes an estimated 1.6 gigatonnes of CO2-equivalent emissions annually across Asia-Pacific, representing roughly 5% of global greenhouse gas emissions.

From an economic perspective, the World Bank estimates that Asia-Pacific loses USD 43 billion annually in recoverable materials that end up in landfills or the environment. This figure becomes particularly compelling when considering that secondary raw materials from recycling typically carry 30-70% lower embedded carbon compared to virgin materials—a critical factor as enterprises face mounting pressure to address Scope 3 emissions, which account for an average of 75% of total corporate carbon footprints in manufacturing-intensive sectors.

The regulatory landscape has shifted dramatically in 2024-2025. China's Extended Producer Responsibility (EPR) framework now covers 12 product categories with mandatory take-back rates. Japan's Plastic Resource Circulation Act requires businesses generating >250 tonnes of plastic waste annually to submit reduction plans. South Korea's Resource Circulation Performance Management System imposes financial penalties for enterprises missing material recovery targets. India's Plastic Waste Management Rules mandate that producers achieve 60% recycling rates for rigid plastics by 2026. These regulatory drivers have transformed material recovery from a cost center into a strategic imperative.

The startup-to-enterprise scaling journey in this sector is particularly instructive because it reveals the operational realities behind circular economy rhetoric. Early-stage recycling ventures typically achieve material recovery rates of 15-25% with contamination levels exceeding 30%. Enterprise-scale operations that have successfully navigated the scaling curve demonstrate recovery rates of 65-85% with contamination below 5%. Understanding the KPIs, infrastructure investments, and organizational capabilities that enable this progression provides actionable insights for practitioners across the value chain.

Key Concepts

Recycling Systems refer to the integrated infrastructure, processes, and governance mechanisms that enable the collection, sorting, processing, and reintegration of post-consumer and post-industrial materials into production cycles. In the Asia-Pacific context, recycling systems typically comprise four tiers: primary collection networks (informal waste pickers, municipal collection, producer take-back programs), material recovery facilities (MRFs) where sorting and initial processing occur, secondary processing plants that transform sorted materials into feedstock, and offtake relationships with manufacturers. Effective recycling systems are characterized by high capture rates (>70% of target materials entering the system), low contamination (<8% non-target materials), and stable offtake pricing that enables sustainable unit economics.

Scope 3 Emissions encompass all indirect greenhouse gas emissions occurring in an organization's value chain, excluding direct emissions from owned operations (Scope 1) and emissions from purchased energy (Scope 2). For manufacturing enterprises in Asia-Pacific, Scope 3 typically represents 70-90% of total emissions, with raw material extraction and processing being the dominant category. The integration of recycled content into production directly reduces Scope 3 emissions—recycled aluminum carries 95% lower embedded carbon than primary aluminum, recycled PET approximately 70% lower than virgin PET, and recycled paper 40-60% lower than virgin fiber. The 2024 ISSB climate disclosure standards and the EU's Carbon Border Adjustment Mechanism have made Scope 3 quantification and reduction a board-level priority for Asia-Pacific exporters.

Digital Product Passport (DPP) is a digital record containing standardized information about a product's materials, components, origin, and end-of-life handling instructions. The DPP framework, pioneered by the European Union and increasingly adopted across Asia-Pacific, provides the data infrastructure necessary for high-value material recovery. For recycling systems, DPPs enable automated sorting by providing real-time access to material composition data, support chain-of-custody verification for recycled content claims, and facilitate compliance with EPR obligations. Japan's METI launched its Digital Product Passport pilot in 2024, covering electronics and automotive components, while Singapore's NEA has integrated DPP requirements into its 2025 circular economy roadmap.

OPEX (Operating Expenditure) in recycling operations encompasses all ongoing costs required to maintain material recovery activities, including labor, energy, consumables, maintenance, and logistics. OPEX benchmarks vary significantly by material stream and technology level: manual sorting operations typically incur OPEX of USD 80-150 per tonne processed, while AI-enabled optical sorting reduces this to USD 35-65 per tonne despite higher capital requirements. For enterprises evaluating recycling partnerships or in-house operations, OPEX as a percentage of recovered material value is the critical metric—sustainable operations maintain OPEX below 60% of output value, enabling margin for capital recovery and profit.

MRV (Monitoring, Reporting, and Verification) refers to the systematic processes for tracking, documenting, and independently validating recycling and material recovery performance. Robust MRV frameworks are essential for regulatory compliance, carbon credit generation, recycled content certification, and investor due diligence. In Asia-Pacific, MRV standards are converging around the GHG Protocol's Scope 3 guidance, ISCC PLUS certification for recycled feedstocks, and regional schemes such as Australia's REDcycle verification program. Enterprise-grade MRV typically requires mass balance accounting systems, third-party audits, and digital traceability platforms capable of generating auditable data trails from collection through reprocessing.

What's Working and What Isn't

What's Working

AI-Powered Optical Sorting at Scale: The deployment of computer vision and machine learning technologies in material recovery facilities has fundamentally altered sorting economics and purity outcomes. In South Korea, SPC Group's recycling subsidiary implemented Tomra's AI-driven sorting systems across its network of 47 MRFs in 2024, achieving PET purity rates of 97.2%—up from 78% with conventional optical sorting—while reducing manual labor requirements by 62%. The technology investment of approximately USD 2.1 million per facility delivered payback within 18 months through a combination of higher material prices for premium-grade output (10-15% price premium over standard sorted material) and labor cost reduction. Similar implementations by Veolia in Australia and Alba Group in Singapore have demonstrated that AI sorting can process 40-60 tonnes per hour with <3% contamination, compared to 8-12 tonnes per hour for manual sorting with 15-25% contamination.

Integrated Producer Take-Back Networks: Enterprises that have established closed-loop collection systems for their own products consistently outperform open-market recycling approaches. Canon's recycling operations in Japan, which remanufacture approximately 2.3 million toner cartridges annually, achieve a 99.1% material recovery rate with a carbon footprint 80% lower than virgin production. The key success factors include product design for disassembly (cartridges designed with <20 fastener types versus >50 in conventional designs), dedicated reverse logistics infrastructure, and long-term customer relationships that enable predictable material flows. HP's Asia-Pacific cartridge return program, processing materials across 15 countries, demonstrates that enterprise-scale take-back can achieve 85-90% collection rates when combined with convenient return mechanisms and customer incentives.

Blended Financing Models for Infrastructure Investment: The capital intensity of modern recycling infrastructure—USD 15-40 million for a comprehensive MRF processing 100,000+ tonnes annually—has historically limited scaling. Successful enterprises have addressed this constraint through blended financing structures that combine commercial debt, development finance, and offtake guarantees. Dalmia Polypro's PET recycling expansion in India secured USD 78 million through a combination of IFC debt (USD 45 million at concessional rates), domestic bank financing (USD 25 million), and advance offtake commitments from Coca-Cola and PepsiCo that guaranteed 70% capacity utilization for five years. This financing structure reduced the weighted average cost of capital from an estimated 14.5% (pure commercial financing) to 9.2%, fundamentally altering project economics.

Regional Material Trading Platforms: Digital marketplaces that aggregate secondary material supply and demand have improved price transparency and reduced transaction costs. Singapore-based Circularise and Hong Kong's Plastic Credit Exchange have demonstrated that blockchain-enabled platforms can reduce offtake negotiation cycles from 4-6 weeks to 5-7 days while providing verified chain-of-custody documentation. For enterprise buyers, these platforms offer consistent material specifications, competitive pricing through transparent markets, and audit-ready documentation for recycled content claims.

What Isn't Working

Informal Sector Integration Without Economic Incentives: Attempts to formalize informal waste collection networks through regulation alone have largely failed across Asia-Pacific. India's 2016 Solid Waste Management Rules mandated integration of informal waste pickers into municipal systems, but implementation without economic alignment resulted in minimal behavioral change. The approximately 4.5 million informal waste pickers in India continue to operate outside formal channels because informal market prices for segregated materials (particularly metals, HDPE, and cardboard) exceed municipal tender rates by 20-40%. Successful integration requires pricing parity or premium, which few municipalities have budgeted. The Philippines' experience confirms this pattern: mandates without economic redesign achieved <15% integration rates versus >60% in programs with competitive compensation.

Single-Stream Collection in High-Contamination Contexts: The single-stream collection model successful in parts of North America and Europe has proven problematic in Asia-Pacific markets with limited source separation culture. In Australia, contamination rates in single-stream bins averaged 12.4% in 2024—sufficient to render approximately 30% of collected material unrecyclable and contributing to the 2019-2021 recycling crisis when China's National Sword policy closed export markets. Multi-stream collection with source separation achieves contamination rates of 2-5% but requires 40-60% higher collection costs. The economic calculation frequently favors contaminated single-stream collection when externalities are not priced, creating a systematic barrier to quality improvement.

Overreliance on Export Markets: The historical Asia-Pacific recycling model—collect, bale, and export to lower-cost processing destinations—collapsed with China's import restrictions and has not been replaced with sufficient domestic processing capacity. An estimated 2.8 million tonnes of mixed plastics previously exported from ASEAN nations annually now require domestic solutions that largely do not exist. Vietnam, which briefly became the primary alternative destination, imposed its own import restrictions in 2023 after processing capacity was overwhelmed. The lesson is clear: recycling systems dependent on export arbitrage are structurally fragile. Enterprise-scale operations increasingly require domestic processing partnerships or vertical integration into reprocessing.

Technology Investments Without Feedstock Security: Multiple MRF investments in Asia-Pacific have underperformed due to inadequate attention to feedstock supply. A high-profile example is Thailand's Eastern Seaboard recycling complex, which deployed USD 35 million in sorting technology but operated at <40% capacity utilization for three years due to fragmented collection agreements and competition from informal sector buyers. The technology-first approach neglects the fundamental economics: sorting technology is a commodity, while consistent feedstock access is the scarce resource. Successful scaling requires securing long-term collection agreements or producer partnerships before major capital deployment.

Key Players

Established Leaders

Veolia Asia-Pacific operates the largest integrated waste management and recycling network in the region, processing approximately 8.2 million tonnes of recyclable materials annually across 14 countries. The company's Hong Kong operation, serving 40% of the territory's commercial waste market, demonstrates enterprise-scale material recovery with 78% diversion rates and has pioneered pay-for-performance contracts that align incentives with circularity outcomes.

Dowa Holdings (Japan) leads Asia-Pacific in electronic waste recycling and precious metals recovery, processing 120,000+ tonnes of e-waste annually with recovery rates exceeding 95% for gold, silver, and palladium. Dowa's proprietary smelting technology achieves energy intensity 35% below industry benchmarks while maintaining output purity sufficient for direct reintegration into electronics manufacturing.

Sembcorp Industries (Singapore) has emerged as the dominant integrated waste and resource management provider in Southeast Asia, with recycling operations spanning Singapore, Indonesia, Vietnam, and India. The company's 2024 expansion of its Tuas facility includes Asia's largest plastics-to-chemicals plant, capable of processing 50,000 tonnes of mixed plastic waste into pyrolysis oil for chemical feedstock.

Sims Metal (Australia) operates the largest ferrous and non-ferrous metals recycling network in the Asia-Pacific, processing approximately 4.5 million tonnes annually. The company's 2024 digital transformation initiative deployed IoT-enabled sorting systems across 45 facilities, achieving real-time yield optimization and reducing material losses by an estimated 12%.

TES (Singapore) specializes in IT asset disposition and electronics recycling across 22 countries in Asia-Pacific, processing 1.2 million units annually. TES's lifecycle management platform provides enterprise customers with auditable chain-of-custody from collection through final disposition, supporting both data security and Scope 3 reporting requirements.

Emerging Startups

Recykal (India) has built South Asia's largest digital marketplace for recyclable materials, connecting 15,000+ waste generators with 2,800+ recyclers across India. The platform processed transactions worth USD 180 million in 2024 and recently launched blockchain-based recycling certificates enabling verified recycled content claims for enterprise buyers.

Miniwiz (Taiwan) has pioneered high-value applications for recycled materials, developing proprietary processes that transform PET bottles, e-waste, and agricultural waste into architectural materials, furniture, and consumer products. The company's Trashpresso mobile recycling unit has been deployed across 12 Asia-Pacific countries, demonstrating distributed processing models.

Boomitra (Singapore/India) applies satellite monitoring and AI to verify carbon sequestration in agricultural recycling programs, enabling carbon credit generation from crop residue recycling that would otherwise be burned. The platform covers 4 million+ hectares across South and Southeast Asia, with 2024 revenue exceeding USD 12 million from credit sales.

Circ (Vietnam/US) operates Asia's first commercial-scale textile-to-textile recycling facility, using hydrothermal processing to separate and recover polyester and cotton from blended fabrics. The company's Ho Chi Minh City plant, operational since late 2024, processes 10,000 tonnes annually with 90%+ fiber recovery rates.

Greyparrot (UK/Singapore) provides AI-powered waste analytics for MRFs, using computer vision to monitor material flows and optimize sorting operations. Deployed across 50+ facilities in Asia-Pacific, Greyparrot's system has demonstrated 15-20% improvements in recovery rates through real-time operator feedback and process optimization.

Key Investors & Funders

Circulate Capital is the leading venture fund focused on ocean plastic and circular economy solutions in South and Southeast Asia, with USD 106 million deployed across 40+ investments. Portfolio companies have collectively prevented an estimated 220,000 tonnes of plastic from entering waterways since 2019.

Asian Development Bank (ADB) has committed USD 2.5 billion to circular economy infrastructure through 2030, with specific facilities for recycling infrastructure, extended producer responsibility implementation, and waste-to-resource technologies. ADB's partial credit guarantee facility has enabled commercial financing for an estimated USD 8 billion in recycling infrastructure.

Temasek Holdings has made significant investments in circular economy infrastructure through its sustainable living portfolio, including stakes in advanced recycling technologies and material recovery platforms. Temasek's 2024 sustainability report identified circular materials as a priority sector for continued investment.

Environmental Defense Fund (EDF) operates a dedicated Asia-Pacific program funding innovation in plastic waste management, with grants totaling USD 45 million since 2020. EDF's funding has supported the development of EPR policy frameworks in Indonesia, Philippines, and Vietnam.

Closed Loop Partners launched its Asia-Pacific investment vehicle in 2023, targeting USD 300 million in commitments for recycling infrastructure and circular economy innovation. The fund's thesis centers on enterprises that can demonstrate Scope 3 reduction co-benefits alongside waste diversion metrics.

Examples

Example 1: Indorama Ventures' Integrated PET Recycling Network (Thailand/Indonesia/Philippines)

Indorama Ventures, the world's largest PET producer, has built the most comprehensive bottle-to-bottle recycling infrastructure in Southeast Asia. The company's integrated approach includes collection partnerships with major beverage brands (Coca-Cola, PepsiCo, Nestle Waters), dedicated MRFs in Thailand and Indonesia, and food-grade rPET production facilities with combined capacity of 450,000 tonnes annually. Key performance metrics from 2024 operations: collection rate of 72% across partner brand bottles (versus industry average of 31%), contamination at processing of 2.8%, rPET output meeting FDA/EFSA food contact standards at 98.7% purity, and Scope 3 reduction of 2.1 tonnes CO2e per tonne of rPET versus virgin PET. The company's OPEX of USD 285 per tonne of rPET output—compared to virgin PET production cost of USD 920—demonstrates the economic viability of integrated recycling at scale. Critical success factors included long-term offtake guarantees from brand partners (7-year minimum commitments), investment in food-grade decontamination technology, and vertical integration that captured value across the recycling chain.

Example 2: Australia's Container Deposit Scheme Expansion (Multi-State Implementation)

Australia's 2024 nationwide harmonization of container deposit schemes provides a compelling example of policy-enabled material recovery at enterprise scale. The unified scheme covers beverages containers from 150ml to 3 liters across all states and territories, with a standardized 10-cent deposit. Operational data from 2024 shows: collection rate of 78.4% for in-scope containers (versus 34% pre-scheme average), redemption network of 3,200+ collection points nationally, contamination in collected materials below 1.2%, and total material recovered of 2.8 billion containers annually. For enterprise participants, the scheme's MRV requirements—including digital tracking from collection point through processing and mandatory quarterly reporting—have established a replicable framework for verified recycled content claims. TOMRA Collection Solutions, which operates approximately 40% of redemption infrastructure, reports that fully automated collection points achieve cost-per-container of AUD 0.018 versus AUD 0.043 for staffed depots, demonstrating the economic case for technology investment in collection infrastructure.

Example 3: Panasonic's Battery Recycling Joint Venture (Japan/China)

Panasonic's 2023 joint venture with Sumitomo Metal Mining for lithium-ion battery recycling represents enterprise-scale material recovery addressing one of Asia-Pacific's fastest-growing waste streams. The partnership operates facilities in Osaka and Huzhou (China) with combined annual capacity of 50,000 tonnes of end-of-life batteries and production scrap. Technical performance metrics from 2024 operations: recovery rate of 97.2% for cobalt, 96.8% for nickel, and 94.5% for lithium; output purity meeting battery-grade specifications without further refining; and carbon footprint 85% below primary extraction for equivalent metal content. The joint venture's business model combines processing of Panasonic's manufacturing scrap (providing 60% of feedstock with predictable quality) with third-party end-of-life battery collection through partnerships with automotive OEMs. Financial performance demonstrates positive EBITDA margins of 12-18% at current metal prices, validating the economic case for battery recycling when combined with secured offtake. The operation provides a template for battery producers facing upcoming EU Battery Regulation requirements for recycled content minimums (12% cobalt, 4% lithium, 4% nickel by 2030).

Action Checklist

FAQ

Q: What material recovery rate should enterprises target, and how does this vary by material type? A: Enterprise-scale recycling operations should target overall material recovery rates of 75-85%, though this varies significantly by material stream. For PET plastics, best-in-class operations achieve 90-95% recovery from source-separated collection, with food-grade output purity exceeding 98%. For mixed plastics, realistic targets are 50-65% recovery with current sorting technology. Metals consistently achieve the highest recovery rates: aluminum at 95%+, steel at 90%+, and copper at 85%+. Paper and cardboard typically achieve 75-85% recovery, limited primarily by fiber degradation across recycling cycles (paper can typically be recycled 5-7 times before fiber length becomes insufficient). These targets assume modern MRF infrastructure with optical sorting; manual sorting operations typically achieve 40-60% recovery. The critical benchmark is not just recovery rate but output quality: material that is technically "recovered" but too contaminated for reprocessing represents a false positive that should be excluded from performance calculations.

Q: How should enterprises evaluate the tradeoff between in-house recycling operations and third-party partnerships? A: The in-house versus partnership decision should be driven by three factors: feedstock security, strategic importance, and capital availability. In-house operations are typically justified when: (1) the enterprise generates sufficient internal waste streams to achieve economies of scale (typically >25,000 tonnes annually for general recyclables, >5,000 tonnes for specialized streams like e-waste); (2) recovered materials provide competitive advantage through quality control or security of supply; and (3) the enterprise has access to patient capital and tolerance for 3-5 year payback periods. Third-party partnerships are preferable when feedstock is fragmented, material recovery is not core competency, or capital is constrained. The hybrid model—where enterprises invest in collection infrastructure while partnering for processing—often provides optimal risk-return balance. Critical due diligence for partnerships includes: verification of claimed recovery rates through independent audit, financial stability assessment (recycling has high operating leverage and is vulnerable to commodity price swings), and contractual terms that include quality specifications and MRV requirements.

Q: What are the realistic timelines and investment requirements for scaling recycling operations from pilot to enterprise level? A: Scaling recycling operations typically follows a three-phase trajectory over 4-7 years. Phase 1 (Years 1-2): Pilot operations processing 5,000-15,000 tonnes annually, establishing collection networks and testing sorting technologies. Capital requirements: USD 2-5 million for basic MRF infrastructure. Key milestone: achieving 60%+ recovery rate with stable feedstock supply. Phase 2 (Years 2-4): Expansion to 50,000-100,000 tonnes annually, typically through facility upgrades and geographic expansion of collection networks. Capital requirements: USD 15-30 million, often requiring external financing. Key milestone: positive operating cash flow and establishment of long-term offtake relationships. Phase 3 (Years 4-7): Enterprise scale at 100,000+ tonnes annually with advanced sorting technology, multi-site operations, and integration into producer supply chains. Capital requirements: USD 40-80 million cumulative. Key milestone: EBITDA margins of 15%+ and demonstrated Scope 3 reduction impact. The timeline can be compressed through acquisition of existing operations, but organic scaling is typically more successful due to the importance of developing collection network relationships and operational expertise incrementally.

Q: How do EPR regulations in Asia-Pacific affect enterprise recycling strategy? A: Extended Producer Responsibility regulations are reshaping enterprise recycling strategy across Asia-Pacific through three primary mechanisms. First, mandatory collection targets are creating captive feedstock pools for recycling infrastructure—Japan's Container and Packaging Recycling Law requires brand owners to fund collection and recycling for 100% of packaging placed on market, effectively guaranteeing feedstock supply for PRO-contracted recyclers. Second, recycled content mandates are creating demand-side pull for recycled materials: India's PWM Rules require 30% recycled content in single-use plastic packaging by 2026, while South Korea mandates 25%+ recycled content in PET bottles. Third, financial mechanisms including EPR fees, deposit-refund schemes, and recycling certificates are shifting the economics of virgin versus recycled materials—in markets with mature EPR systems, recycled content is often cost-competitive or cheaper than virgin input. Enterprises should incorporate EPR trajectory into capital planning, as regulations typically tighten over 5-10 year cycles. Companies operating across multiple Asia-Pacific markets face complexity in managing divergent EPR requirements, creating an opportunity for digital platforms that consolidate compliance across jurisdictions.

Q: What role does traceability technology play in material recovery, and what capabilities should enterprises require from recycling partners? A: Traceability technology has evolved from nice-to-have to essential infrastructure as regulatory requirements and customer expectations for verified recycled content intensify. Enterprises should require recycling partners to demonstrate three core capabilities. First, mass balance accounting systems that track material inputs and outputs at batch level, enabling allocation of recycled content claims to specific product runs. ISCC PLUS certification has emerged as the de facto standard for mass balance verification, with 2,400+ certified sites globally. Second, chain-of-custody documentation providing auditable records from collection through final processing, including timestamps, locations, processing parameters, and quality test results. Blockchain-based systems from providers like Circularise and Plastic Bank offer tamper-proof documentation, though traditional database systems with appropriate access controls can also meet audit requirements. Third, integration capability with enterprise reporting systems, enabling automated data exchange for Scope 3 reporting, sustainability disclosures, and customer-facing recycled content claims. The investment in traceability infrastructure correlates with material value and regulatory sensitivity—electronic waste and food-contact plastics require rigorous traceability, while commodity materials like mixed paper may warrant lighter-touch approaches.

Sources

Asian Development Bank. "Circular Economy Opportunities in Asia and the Pacific." ADB Sustainable Development Working Paper Series, No. 84, February 2024.
International Sustainability & Carbon Certification. "ISCC PLUS System Document: Requirements for Recycled and Renewable Content Verification." Version 3.4, January 2025.
Ellen MacArthur Foundation. "The Global Commitment 2024 Progress Report: Signatory Recycling Performance Analysis." October 2024.
World Bank Group. "What a Waste 2.0: A Global Snapshot of Solid Waste Management to 2050—Asia-Pacific Regional Update." December 2024.
Ministry of the Environment, Japan. "Plastic Resource Circulation Act Implementation Report: First Year Outcomes and Compliance Rates." Government of Japan, March 2024.
Circulate Capital. "The Circulate Initiative: Mapping Informal Sector Integration in South and Southeast Asia." Research Report, August 2024.
TOMRA Sorting Solutions. "AI-Enabled Material Recovery: Performance Benchmarks from 500+ Global Installations." Industry White Paper, 2025.
International Solid Waste Association (ISWA). "Material Recovery Facility Benchmarking Study: Asia-Pacific Region." Technical Report, November 2024.