Circular Recycling
Crude Oil Prices Trend
Crude Oil Prices Trend by Polyestertime
Alpek’s PET caps offer single-material solution for bottles
NatureWorks’ Ingeo PLA Manufacturing Expansion Attracts Record Financing from Krungthai Bank PCL of Thailand
NatureWorks, a leading manufacturer of polylactic acid (PLA) biopolymers made from renewable resources, today announced the historic financial support from Krungthai Bank PCL to optimize the capital structure for the new fully-integrated Ingeo™️ PLA manufacturing facility in Thailand. The financing from Krungthai Bank, Thailand’s third largest bank, amounting to $350M USD (12,600M Baht Equivalent), is one of the singular largest loans in the bank’s decades-long history and shows confidence in NatureWorks’ market leadership and global economic impact. Today, the companies participated in a signing ceremony to celebrate this milestone. Circular Recycling
In alignment with its ESG values and sustainable finance solutions, Krungthai Bank funded NatureWorks’ newest manufacturing facility for Ingeo PLA biopolymer, a biobased material used in plastic and fiber applications. The funding will support the construction of the plant and its ongoing operations. NatureWorks was chosen because of its market leadership in defining bioplastic technologies and how those solutions will move Thailand’s Bio-Circular-Green (BCG) economy forward.
BCG leverages technology and Thailand’s biological diversity to enable a more sustainable, innovation-driven, and values-based economy. Circular Recycling
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Mondi takes another slice of sustainable packaging by teaming up with Scan Sverige
Mondi, a global leader in sustainable packaging and paper, has collaborated with Scan Sverige to create a polypropylene (PP) based mono-material packaging, that is designed for recycling.
HKScan Sweden, having over a century experience in responsible Swedish food production, uses Mondi’s WalletPack for its Pärsons brand’s range of sliced ham, salami, and plant-based products, starting from March 2024. Circular Recycling
Mondi’s WalletPack is a PP based solution which is designed for recyclability.
This packaging is purposefully developed with recycling in mind, aligning with our customer’s goals, and NPA’s missions as an approved producer responsibility organisation dedicated to advancing circular and traceable material recycling. WalletPack can be effectively sorted by Site Zero, Europe’s largest and most advanced plastic recycling facility located in Sweden and is thereby contributing to a circular economy. It replaces the previous solution, which was an unrecyclable multi-material pack that consisted of PET-PE and PA-PE laminates. Circular Recycling
Featuring a top and bottom film, Mondi’s WalletPack has an easy peel mechanism ensuring consumer convenience. Created with a protective high oxygen barrier for a longer shelf-life in combination with inside print, it also offers good printability to communicate the brand and product messages.
NPE ’24: INSIGHT: Big themes at NPE include sustainability, EVs, toxicity rules
The biggest plastics trade show in the Western Hemisphere returned last week after a six-year hiatus. Delegates returned to consider an industry that is increasingly being shaped by government policy which is favoring sustainability and electric vehicles (EVs) while restricting the use of some classes of chemicals that are used in processing aids.
SUSTAINABLE CONTENT
The regulatory outlook is influencing companies’ sustainability goals, and that is influencing which plastics they buy and which ones are made by producers.
Sustainability was the most prominent theme at the show. The title of the keynote address given by BASF Corp CEO Mike Heinz was “Our Plastics Journey: The Road to Shaping a Sustainable Future”. Circular Recycling
Other examples of sustainability at the show include the following:
- Executives from SABIC and NOVA Chemicals talked at lengths about what their companies are doing to incorporate more recycled content into their materials.
- Renewable plastics producers CJ CheilJedang and Danimer Scientific had booths showcasing their grades of polyhydroxyalkanoate (PHA), a renewable polyester.
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SK Chemicals Advances Circular Recycling in North America
This article is included in these additional categories:
Following the prominent Chinaplas last month, SK Chemicals is poised to broaden its influence in the global market by pioneering circular recycling technologies in North America. Circular Recycling
The North American Plastics Exhibition (NPE), organized by the American Plastics Association, is a pivotal event that spans all industries, from automotive to construction and medical. Recognized as the largest plastics trade fair in the Americas, NPE is held triennially and is esteemed as one of the top three global plastic exhibitions, alongside Chinaplas and Germany’s K Trade Fair. This event is dedicated to fostering innovation and sustainability in the plastics sector.
Recent initiatives in North America mirror a worldwide movement towards more robust plastic recycling policies. The United States Environmental Protection Agency has rolled out the country’s inaugural National Recycling Strategy, aiming for a 50% recycling rate by 2030. Circular Recycling
States like Illinois and California are also advancing significant legislation, such as the Plastic Recycling Modernization Act and the Producer Responsibility Plastic Recycling, to bolster recycling efforts.
SK Chemicals’ Innovations in Recycled Materials
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Global PET Market Enters May 2024 with Balanced Market Situation
In the early week of May 2024, Polyethylene terephthalate (PET) prices exhibited a similar trend across various regions, including the US, Germany, and the Asian Pacific nations.
In the US, PET prices remained stable at USD 1232/MT during this period. This stability can be attributed to the low cost of feedstock, despite the volatile nature of crude oil prices. Circular Recycling
Although PET feedstock PTA remained steady, MEG prices in the US market experienced a 2.2% decline. According to the EIA report, West Texas Intermediate crude oil prices were reported at USD 79.65 per barrel on May 3rd, 2024, showing a weekly decrease of USD 5.73/bbl but a yearly increase of USD 8.33/bbl. The recent uptick in US crude inventory ultimately influenced PET prices.
Similarly, PET prices in Germany remained stable, largely due to reduced demand from the downstream bottle and packaging industry and continued low-cost support from feedstock. While PET feedstock PTA remained consistent, MEG prices surged by approximately 4% due to higher feedstock costs. Circular Recycling
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- Siemens Energy’s PEM electrolysis technology to make up 25% of the first 400 MW tranche of Cepsa’s large-scale green hydrogen project in Huelva, southern Spain
- The PEM electrolysis will complement the use of alkaline water technology that Cepsa plans to implement for the remaining 300 MW of the first phase of the Huelva project, which it is developing in partnership with Fertiberia. The total 400 MW electrolyzer order is the largest in southern Europe Circular Recycling
- The combination of technologies is a decisive step for the Cepsa-led Andalusian Green Hydrogen Valley, one of largest projects of its kind in Europe, aimed at creating a European green hydrogen value chain and delivering decarbonization solutions for industry and heavy transport
Cepsa has selected Siemens Energy, one of the world’s leading energy technology companies, for the supply of 100 megawatts (MW) of Proton Exchange Membrane (PEM) electrolysis technology for green hydrogen production at its La Rábida Energy Park in Palos de la Frontera (Huelva), southern Spain. Circular Recycling
Circular Recycling
Alpek Polyester USA LLC brought a new PET resin for bottle caps to NPE2024.