PET Bottle – Hyosung TNC has announced a significant investment of $1 billion to establish multiple Bio-BDO production plants in Vietnam, with a combined annual capacity of 200,000 tons 22-07-2024
PET Bottle
| Polyestertime | |||
| ITEM | 15/07/2024 | 22/07/2024 | +/- |
| Bottle grade PET chips domestic market | 7,200 yuan/ton | 7,200 yuan/ton | – |
| Bottle grade PET chips export market | 910 $/ton | 905 $/ton | -5 |
| LDPE Est China | 1,170 | 1,170 $/ton | – |
| HDPE Est China | —— | 8,250 yuan/ton | – |
| Pure Terephthalic Acid PTA domestic market
PET Bottle |
5,930 yuan/ton | 5,911 yuan/ton |
-19 |
| Pure Terephthalic Acid PTA FOB China | 725 $/ton | 727 $/ton | +2 |
| Monoethyleneglycol MEG domestic market | 4,815 yuan/ton | 4,670 yuan/ton |
-145 |
| Monoethyleneglycol MEG export market | 560 $/ton | 543 $/ton | -17 |
| Paraxylene PX FOB Taiwan market | 1,037 $/ton | 1,007 $/ton |
-30 |
| Paraxylene PX FOB Korea market | 1,015 $/ton | 985 $/ton | -30 |
| Paraxylene PX FOB EU market | 1,140 $/7on | 1,140 $/ton | – |
| Polyester filament POY 150D/48F domestic market | 8,030 yuan/ton | 8,030 yuan/ton |
– |
| Recycled Polyester filament POY domestic market | 7,560 yuan/ton | 7,500 yuan/ton | -60 |
| Polyester filament DTY 150D/48 F domestic market | 9,450 yuan/ton | 9,458 yuan/ton | +8 |
| Polyester filament FDY 68D24F | 9,250 yuan/ton | 9,250 yuan/ton | – |
| Polyester filament FDY 150D/96F domestic market
PET Bottle |
8,550 yuan/ton | 8,565 yuan/ton | +15 |
| Polyester staple fiber 1.4D 38mm domestic market | 7,830 yuan/ton | 7,810 yuan/ton | -20 |
| Caprolactam CPL domestic market | 12,500 yuan/ton | 12,540 yuan/ton |
+40 |
| Caprolactam CPL overseas market | 1,600 $/ton | 1,600 $/ton | – |
| Nylon 6 chips overseas market | 1,920 $/ton | 1,920 $/ton | – |
| Nylon 6 chips conventional spinning domestic market | 13,500 yuan/ton | 13,550 yuan/ton | +50 |
| Nylon 6 chips high speed spinning domestic market | 14,000 yuan/ton | 14,000 yuan/ton | – |
| Nylon 6.6 chips domestic market
PET Bottle |
20,000 yuan/ton | 19,650 yuan/ton | -350 |
| Nylon6 Filament POY 86D/24F domestic market | 16,300 yuan/ton | 16,275 yuan/ton | -25 |
| Nylon6 Filament DTY 70D/24F domestic market | 18,600 yuan/ton | 18,640 yuan/ton | +40 |
| Nylon6 Filament FDY 70D/24F | 17,500 yuan/ton | 17,675 yuan/ton | +175 |
| Spandex 20D domestic marke | 31,500 yuan/ton | 31,500 yuan/ton | – |
| Spandex 30D domestic market | 30,000 yuan/ton | 30,000 yuan/ton | – |
| Spandex 40D domestic market | 27,000 yuan/ton | 27,000 yuan/ton | – |
| Adipic Acid domestic market
PET Bottle |
9,400 yuan/ton | 9,200 yuan/ton | -200 |
| Benzene domestic market9, | 8,670 yuan/ton | 8,600 yuan/ton | -70 |
| Benzene overseas market | 1,021 $/ton | 1,011 $/ton | -10 |
| Ethylene South East market | 925 $/ton | 925 $/ton | – |
| Ethylene NWE market CIF | 800 $/ton | 799 $/ton | -1 |
| Acrylonitrile ACN domestic market | 9,400 yuan/ton | 9,200 yuan/ton | -200 |
| Acrylonitrile ACN overseas market | 1,200 $/ton | 1,200 $/ton | – |
| Acrylic staple fiber ASF domestic market
PET Bottle |
14,600 yuan/ton | 14,600 yuan/ton | – |
| Viscose Staple Fiber VSF domestic market | 13,400 yuan/ton | 13,400 yuan/ton | – |
| PP Powder domestic market | 7,480 yuan/ton | 7,550 yuan/ton | +70 |
| Naphtha overseas market | 702 $/ton | 684 $/ton | -18 |
| Phenol domestic market | 8,175 yuan/ton | 8,250 yuan/ton | +75 |
r-PET high end eco-friendly chips =8,300 yuan/ton — 8,300 yuan/ton –
- Polymers – From Waste to Resource: Leveraging Mono-Material Innovation for Sustainable Packaging 15-07-2024
- New enzyme technology for environmentally friendly plastic recycling
PET Bottle
Reloop: New Life for Stretch Film Waste
Hipac has launched an innovative circular economy initiative focused on the recovery and recycling of polyethylene from stretch film waste. This project, known as Reloop, represents a significant step forward in the flexible packaging industry, particularly in the realm of industrial stretch film production.
Reloop, heralded by the slogan “Close the Loop, Start Reimagine,” aims to provide users of stretch film with a sustainable solution for managing their waste. PET Bottle
The initiative enables these users to recover value from their discarded stretch film, provided it is compressed, clean, and free from other contaminants such as straps or labels. This waste material is then handed over to Hipac through an authorized collection partner, which is certified by Second Life Plastic and possesses all the necessary authorizations to handle the recycling process.
Daniele Giorlando, Managing Director of Hipac, elaborates on the vision behind Reloop: “With this new project, we intend to take a further step forward in our path of sustainable growth. PET Bottle
Through the ‘Close the Loop, Start Reimagine’ communication campaign, we are reaching out to all users of stretch film who recognize that waste can be transformed into a virtuous and successful resource, in alignment with contemporary sustainability goals.”
Founded in 1991 by the Giorlando family, Hipac is headquartered in Cazzago San Martino (BS) and has grown to become a prominent player in the production of polyethylene stretch film for industrial packaging. The company operates three factories located in Italy, Spain, and Romania, employing 230 people and generating a turnover of approximately 140 million euros. PET Bottle
The Reloop initiative is a testament to Hipac’s commitment to environmental sustainability and innovation. By facilitating the recovery and recycling of stretch film waste, Hipac not only helps reduce the environmental footprint of its products but also promotes a circular economy model that benefits both the company and its customers.
In practical terms, the Reloop process begins with the collection of used stretch film from participating users. This film, after being verified for cleanliness and the absence of contaminants, is compressed and sent to Hipac’s authorized partner.
The partner then processes the material, ensuring that it meets the standards for Second Life Plastic certification, which guarantees the recycled product’s quality and suitability for reuse. PET Bottle
Through Reloop, Hipac demonstrates how industrial waste can be reimagined as a resource, closing the loop on stretch film usage and contributing to a more sustainable future. The initiative underscores the importance of collaborative efforts between manufacturers and users in achieving environmental sustainability and showcases Hipac’s leadership in driving forward-thinking solutions in the packaging industry.
In summary, Reloop is not just a recycling program; it is a comprehensive approach to redefining waste management in the stretch film industry, encouraging users to rethink their role in the lifecycle of packaging materials and actively participate in a sustainable, circular economy. PET Bottle
PET Bottle
Hyosung TNC has announced a significant investment of $1 billion to establish multiple Bio-BDO production plants in Vietnam, with a combined annual capacity of 200,000 tons
This strategic move aims to position the company at the forefront of the global sustainable materials market.
Hyosung’s chairman, Hyun-Joon Cho, emphasized the importance of the bio business, which converts traditional fossil raw materials into eco-friendly alternatives.
He highlighted that this venture would be a cornerstone for Hyosung for the next century, reinforcing the company’s premium brand status through its Bio-BDO and Bio Spandex production. PET Bottle
Butanediol (BDO) is a crucial component in producing PTMG, which is used for spandex fiber. BDO’s applications extend to various industries, including engineering plastics, biodegradable packaging, footwear soles, and industrial compounds. Bio-BDO, produced by fermenting sugarcane-derived sugars, entirely replaces conventional fossil raw materials like coal, making it a highly attractive option in the sustainable materials sector.
Utilizing Geno’s proven technology, Hyosung TNC aims to launch Bio-BDO production with an initial capacity of 50,000 tons annually by the first half of 2026. PET Bottle
This investment has also secured Hyosung TNC the largest bio-spandex factory in Vietnam, marking the world’s first fully integrated production system for bio-spandex, from raw material to fiber.
This system is tailored for the global sustainable textiles market, catering to brands and retailers across Asia, Europe, and the United States. It enhances production efficiency, ensures a stable raw material supply, reduces transportation costs, and minimizes environmental impact. PET Bottle
Hyosung TNC’s regenTM BIO is acclaimed for its innovation in sustainable fashion and textiles. The global sustainable textile market, valued at $23 billion with a 12.5% annual growth rate, is expected to reach $75 billion by 2030. Hyosung TNC plans to boost its sustainable spandex sales from the current 4% to 20% of its total spandex sales by 2030.
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