2024. 01. 05
With rising attention to the environment, companies are expanding the fields where recycled plastics are applied to. While the recycled plastic market is expected to grow at an average annual rate of 8.1%, LG Chem is also spurring the development of new materials based on their mechanical and chemical recycling technologies, as well as building partnerships with diverse groups to expand their business areas related to recycled plastics. Lately, LG Chem signed an MOU with Korea’s cosmetics manufacturer, Amorepacific, to develop eco-friendly cosmetic packaging. Let’s peek at LG Chem’s dream which starts from eco-friendly packaging and extends to building a circular recycling model.
In October 2023, LG Chem signed an MOU with Amorepacific for an eco-friendly transition of cosmetic containers and packages. While LG Chem supplies raw materials for plastic based on recycling, pyrolysis oil, and bio-based technology, Amorepacific will apply eco-friendly materials to the package of their cosmetic and daily necessity products. Miseenscene, Amorepacific’s hair product line, is set to be their first target. PCR PE (Post Consumer Recycled Polyethylene) will be applied to its containers, and PCR PP (Polypropylene) to its lids.
PE is one of the most universal and widely-used plastic materials. With excellent processability and impact-resistance, it is used in plastic boxes and transparent films for product packaging. On the other hand, PP has similar properties with PE, but is superior in its mechanical properties, heat-resistance, tensile strength, and impact strength. Therefore, it is used across various industries. PCR PE and PCR PP which are to be applied to Amorepacific’s product containers boast up to 50~80% of high recycled material contents, and yet possess quality and physical properties equivalent to virgin materials.
Starting with recycled plastic materials, LG Chem plans to expand their supply of eco-friendly materials to Amorepacific, stretching out to bio-raw materials and plastics based on pyrolysis oil. Furthermore, the company will operate development programs for eco-friendly materials while sharing customer feedbacks, which will ultimately lead to a circular recycling model that connects supply, collection, and recycling.
Besides joining hands with Amorepacific, LG Chem is expanding their recycled plastic business through partnerships with different groups. In April 2023, LG Chem signed an MOU with Korea’s Logistics company, CJ Logistics, to recycle stretch films and establish a circular economy. This works by CJ Logistics collecting stretch films discarded at distribution centers around the country, which LG Chem takes over and converts into recycled stretch films based on the company’s PCR technology. The final product is supplied to CJ Logistics again. Stretch films are used at industrial sites to fasten loaded items. In most cases, these films are made of PE, and LG Chem collects and recycles them.
In addition, LG Chem signed an MOU with Cosmax, the No.1 global cosmetics ODM (Original Development Manufacturer), to produce eco-friendly cosmetic containers. Beginning with the supply of PCR ABS (Acrylonitrile Butadiene Styrene), LG Chem intends to suggest a wider variety of eco-friendly materials and cooperate with Cosmax across the whole procedure, from development to marketing of cosmetic containers.
According to Markets and Markets research, the recycled plastic market is prospected to expand from $65 billion in 2023 to $120 billion in 2030. Such rapid growth of recycled plastic business owes to strong environmental regulations. LG Chem will keep pace with the trend and contribute to developing eco-friendly packaging based on mechanical and chemical recycling technologies, in order to build a virtuous cycle of resources. Please continue your support for LG Chem’s eco-friendly businesses!
There are no comments yet! Be the first to let us know your thoughts!