Recycled packaging – PVC price
-LyondellBasell’s (LYB) Spheripol Selected for Site Expansion
LyondellBasell Industries N.V. (LYB Quick QuoteLYB – Free Report) recently announced that PT Polytama Propindo will utilize its Spheripol technology to expand its existing facility.
The process technology will be used for an additional 300 KTA polypropylene plant to be constructed in Balongan, West Java, Indonesia. The construction of the plant is projected to be completed in 2024.Recycled packaging – PVC price
Spheripol is the leading polypropylene process technology with more than 30 million tons of licensed capacity. It has been operating reliably at the Balongan site since the mid-90s, making high value polypropylene resins. The latest fifth generation Spheripol technology includes process improvements which further boosts operational efficiency. The plant would begin operations utilizing Avant ZN catalyst.
New licensees can leverage LyondellBasell’s in-house expertise of continuous production improvement, sustainable product development and catalyst knowhow by optionally joining its Technical Service program.
PT Polytama, a long-time customer of LyondellBasell, stated that the teams showed tremendous efforts to develop a site and a specific solution to produce a number of polypropylene products based on the Spheripol technology. The selection of the technology helps the company to focus on implementing the project in a safe and timely manner. Recycled packaging – PVC price
Shares of LyondellBasell have gained 9.6% in the past year compared with a 9.1% rise of the industry.
-Soft drinks firms in trouble for ‘100% recycled’ packaging claims
Soft drinks firms Pepsi Lipton International and Roxane UK have fallen foul of the Advertising Standards Authority (ASA), which banned adverts that attracted complaints for making ‘misleading’ eco-friendly packaging claims.
Lipton Ice Tea
A poster at a bus shelter for Lipton Ice Tea bearing a recycling logo and the text ‘Deliciously refreshing, 100% recycled’ attracted a complaint for misleadingly implying all the Lipton bottle was made from 100% recycled plastic.
Pepsi Lipton International said the ‘100% recycled’ headline claim had a clear asterisk linking it to text clarifying ‘Bottle made from recycled plastic, excludes cap and label’.Recycled packaging – PVC price
The company accepted that the size of the text in the qualification was small and could have been overlooked, but maintained it was sufficient to clarify the claim.
The ASA considered consumers would understand the claim ‘100% recycled*’ alongside images of the bottle with the label and cap to mean all Lipton Ice Tea bottle components were made entirely from recycled materials. It said the linked footnote flagged by the asterisk appeared in very small text in the left-hand bottom corner of the ad and therefore could be overlooked.
‘100% recycled’ misleading
It considered that the qualification was insufficient to counter the overall impression that all parts of the bottle were made entirely from recycled materials. As a result, it concluded the ‘100% recycled*’ claim was misleading and the ad had breached the CAP Code (Edition 12) rules 3.1 (Misleading advertising), 3.7 (Substantiation), 3.9 (Qualification) and 11.3 (Environmental claims). The ad in question was banned.
Elsewhere, a TV ad for Aqua Pura water aired in August 2021 claiming it was ‘nature friendly’ and ending with the text ‘Hydration for the Nation’ and ‘100% recycled & recyclable bottle with eco-friendly cap*’. The asterisk linked to text on screen that read ‘*relates to 500ml bottles only.Recycled packaging – PVC price
Three complainants challenged the ‘100% recycled … bottle’; ‘100% … recyclable bottle’; ‘eco-friendly cap’ and ‘it’s nature friendly’ claims.
-LG Chem to reuse oil extracted from plastic waste from 2024
LG Chem will extract oil from plastic waste and reuse it for plastic production starting in 2024. Recycled packaging – PVC price
According to South Korea’s leading chemical company Tuesday, it will establish a facility in Dangjin, South Chungcheong Province, where the plastic waste will be chemically recycled with extremely hot and pressurized steam. Once completed in the first quarter of 2024, the facility, with an annual capacity of 20,000 tons, will utilize the extracted oil to produce raw materials for plastic production.
“With 10 tons of waste vinyl and plastic, 8 tons of oil can be extracted. The idea is to retrieve naphtha, the basic ingredient of plastics, from the oil and use it as a feedstock to make new plastic,” a company official said.
LG Chem will work with UK-based Mura Technology, which has source technologies to chemically recycle plastic waste. Last October, LG Chem made an equity investment in the company. Recycled packaging – PVC price
While 700,000 tons of oil was extracted from plastic waste in 2020, about 3.3 million tons is expected in 2030, according to the company.
-Vikas Ecotech to invest in environment-friendly BioPlastics technology
Vikas Ecotech stated that it is in the advance stage of finalising a technology tie-Up/Joint Venture with Aurapha Private Ltd.
Vikas Ecotech Limited is planning to invest in the environment-friendly BioPlastics (PHA) technology. Recycled packaging – PVC price
The company stated that it is in the advance stage of finalising a technology tie-Up/Joint Venture with Aurapha Private Ltd. (the ‘AuraPHA’) to produce Biodegradable Plastics.
PHAs are biopolymers synthesized by various types of bacteria and are bio-degradable in nature, produced from renewable resources through an eco-friendly process.
-Supply bottlenecks, high prices, omicron affect growth prospects: ECB
The global economy is on a recovery path, although persisting supply bottlenecks, rising commodity prices and the emergence of the omicron variant of the novel coronavirus continue to weigh in on near-term growth prospects, according to the European Central Bank (ECB). Recycled packaging – PVC price
Recent surveys of economic activity suggest that growth momentum remained weak at the start of the fourth quarter, particularly in the manufacturing sector owing to the above-mentioned supply bottlenecks, whereas the services sector benefited from the reopening of large economies.
Compared with the previous projections, the growth outlook for the global economy in the December 2021 Eurosystem staff macroeconomic projections has been revised downwards for 2021, remained unchanged for 2022 and been revised upwards for 2023.
Global real gross domestic product (GDP) growth (excluding the euro area) is estimated to increase to 6 per cent in 2021, before slowing to 4.5 per cent in 2022, 3.9 per cent in 2023 and 3.7 per cent in 2024.Recycled packaging – PVC price
Euro area foreign demand is projected to expand by 8.9 per cent in 2021, 4 per cent in 2022, 4.3 per cent in 2023 and 3.9 per cent in 2024. However, foreign demand has been revised downwards for 2021 and 2022 compared with the previous projections.
This reflects the adverse impact of the ongoing supply bottlenecks on global imports. Supply bottlenecks are expected to start easing from the second quarter of 2022 and to fully unwind by 2023.
The export prices of euro area competitors have been revised upwards for 2021 and 2022 amid the confluence of higher commodity prices, supply bottlenecks and recovering demand.
The future course of the pandemic remains the key risk affecting the baseline projections for the global economy, ECB said in a release. Other risks to the growth outlook are judged to be tilted to the downside, whereas the balance of risks to global inflation is more uncertain. Recycled packaging – PVC price
-PVC price shrinks on slow offtake and expected cut in import duty
The business dynamics of polyvinyl chloride (PVC) resin and its derivatives have changed dramatically in India in the past three months, as consumers and stockists have abstained from fresh bookings amid expectations of price declines on account of a possible cut in import duties.Recycled packaging – PVC price
With the Union Budget for the financial year 2022-23 (April – March) just a few days away (scheduled to be announced on February 1, 2022), Indian stockists of PVC have decided to totally exhaust their existing inventories before placing new orders. Consumers, on the other hand, are placing only need-based buying orders to take advantage of the possible duty cut. Normally, duty benefits in polymers are immediately passed on to consumers.
In a joint meeting organized by the Ministry of Chemicals & Fertilizers and the Ministry of Commerce & Industry last month, India’s PVC resin users had highlighted inverse duty structure on the plastic raw material and finished products. Import of PVC resin attracts a customs duty of 10 percent from non-RTA (Regional Trade Agreement) countries. Its import from RTA countries, however, ranges between zero and five percent. By contrast, imports and exports of plastic finished products attract a uniform customs duty of 10 percent. Recycled packaging – PVC price
“Till 2018, the import duty on PVC resin was levied to the tune of 7.5 percent and that on finished products was hovering at 10 percent. So, the difference between the finished products and the raw materials i.e. PVC resin was working at 2.5 percent in favour of domestic processors.
Recycled packaging – PVC price
Plastics Recycling Loop Industries 20-01-2022