rPET Polymer – The Australian government has committed A$20 million ($13.48 million) to establish a new plastic recycling centre in Kilburn, aimed at processing hard-to-recycle materials such as shopping bags, crisp packets, and food wrappers 19-07-2024 - Arhive
rPET Polymer
Crude Oil Prices Trend
Crude Oil Prices Trend by Polyestertime
Global PET Bottles Industry to Grow from USD 26.6 Billion to USD 35.7 Billion by 2032
The global PET bottles market (페트병 시장) was valued at US$ 26.6 billion in 2023. It is estimated to grow at a compound annual growth rate (CAGR) of 3.3% from 2024 to 2032, reaching US$ 35.7 billion by the end of 2032. rPET Polymer
Analyst Viewpoint
The increase in preference for packaged water and the rise in demand for single-serve beverages are key drivers of the PET bottles market. PET bottles are utilized in various end-use industries such as food & beverage, healthcare, personal care, and domestic cleaning due to their superior stiffness, which enhances longer shelf life and provides robust protection during storage and transportation. PET Polymer
Manufacturers are focusing on offering a wide portfolio of bio-based bottles to cater to environmentally conscious customers. They are also expanding their production capacities to include innovative and technologically advanced options by utilizing cutting-edge technologies.
The Australian government has committed A$20 million ($13.48 million) to establish a new plastic recycling centre in Kilburn, aimed at processing hard-to-recycle materials such as shopping bags, crisp packets, and food wrappers
This facility, developed by Recycling Plastics Australia, is expected to divert 14,000 tonnes of soft plastics from South Australian landfills each year.
The centre will transform these soft plastics into feedstock for new packaging, enhancing Australia’s recycling capabilities and contributing to a more sustainable supply chain.
This initiative marks a significant step towards returning soft plastic waste back into the packaging industry, reducing landfill waste and promoting circular economy practices.
Peter Gregg, chair of Recycling Plastics Australia, expressed pride in the company’s role in leading the circular economy by recycling challenging plastics. rPET Polymer
The new facility will further this mission by handling materials that are typically difficult to recycle, thereby supporting national efforts to improve environmental sustainability.
The investment from the national government underscores its commitment to advancing recycling infrastructure and reducing plastic waste. By processing and repurposing materials that would otherwise end up in landfills, the Kilburn facility represents a crucial advancement in Australia’s approach to managing soft plastic waste. rPET Polymer
This development is set to significantly boost the country’s recycling capacity and environmental stewardship.
Tray2Tray Receives RecyClass Certification in Closed-Loop Recycling
Klöckner Pentaplast has achieved the RecyClass Traceability certification for its tray-to-tray recycled PET (rPET) produced at its Spanish facility.
On July 16, 2024, Klöckner Pentaplast launched the first food packaging trays made from closed-loop recycled rPET, a milestone of their Tray2Tray program initiated four years ago. The company also received the first closed-loop RecyClass Traceability certification for rPET trays manufactured at their Pravia plant in Spain. rPET Polymer
“Achieving the RecyClass closed-loop traceability certification is a significant milestone for Klöckner Pentaplast and the Tray2Tray program,” said Samuel Pardo, Senior Innovation Manager at kp. “When we launched this initiative in 2020, only 3% of our post-consumer recycled material came from Tray2Tray. By 2022, this figure rose to 9.1%, and in 2023, it further increased to 11.4%, translating to over 900 million post-consumer containers recovered and reused.” rPET Polymer
Owned by the private equity firm Strategic Value Partners (SVP), Klöckner Pentaplast specializes in manufacturing rigid and flexible packaging and specialty films. The group operates 30 facilities across 18 countries and employs approximately 5,600 people in 60 different locations.
This certification underscores Klöckner Pentaplast’s commitment to sustainability and innovation, highlighting the success and growth of the Tray2Tray program in advancing closed-loop recycling practices. rPET Polymer
Kentucky Governor Andy Beshear met with officials from South Korea’s top electric vehicle (EV) battery and materials companies to attract further investment to his state, according to industry sources
Arriving in Korea on Sunday, Beshear’s agenda included meetings on Monday with executives from SK On Co., a leading car battery manufacturer, and Lotte Chemical Corp., which produces EV battery materials.
During his visit, Governor Beshear also planned to engage with officials from LG Chem Ltd., which holds an approximately 80 percent stake in LG Energy Solution Ltd., Korea’s premier car battery maker, among other Korean companies. rPET Polymer
Highlighting the purpose of his trip, Beshear posted on X, formerly known as Twitter, saying, “The journey to South Korea is our opportunity to connect with our current business partners and develop new relationships that will bring good jobs to our new Kentucky home.”
In late 2022, SK On commenced the construction of an EV battery plant in Kentucky through a joint venture with Ford Motor Co., targeting operational status by 2025. Additionally, Lotte Chemical established a joint venture with a local Kentucky firm the same year, aiming to build an aluminum foil plant by the first half of 2025.
Governor Beshear’s meetings underscore Kentucky’s ongoing efforts to strengthen its position in the EV battery industry and create job opportunities through strategic international partnerships. rPET Polymer
Investindustrial Focuses on Masterbatches
Agreement Signed to Acquire Catalan Company Delta Tecnic, Active in Formulating Additive and Color Concentrates.
Delta Tecnic Private equity firm Investindustrial has signed an agreement to acquire Delta Tecnic, based in Barcelona, Spain, which specializes in the formulation of color and additive masterbatches, particularly for the cable sector. rPET Polymer
Delta Tecnic is currently owned by its founders, Salvador Torras and Martí Baqués, along with other minority shareholders. Upon completion of the transaction, Investindustrial will acquire 100% of the company.
Delta Tecnic Headquarters With a turnover of around 60 million euros, Delta Tecnic operates three production sites—two near Barcelona and a third in Querétaro, Mexico—employing a total of 200 people. Eighty percent of its revenue comes from the production of masterbatches, while the remaining 20% is from the distribution of pigments and industrial chemicals. More than 70% of its revenue is generated outside of Spain, thanks to a commercial presence in 60 countries. rPET Polymer
According to a statement, Investindustrial intends to significantly accelerate the international expansion of Delta Tecnic through this acquisition, both organically and through acquisitions in Europe, North America, and Asia. This follows the successful strategy pursued in previous investments in the chemical sectors, such as Benvic, Polynt, and Bakelite Synthetics.
“We are excited about Delta Tecnic’s development potential,” commented Andrea C. Bonomi, founder and Chairman of Investindustrial’s Advisory Board, “and we look forward to supporting the company in the next phase of its growth. rPET Polymer
ADM, LG Chem Announce That Lactic Acid, Polylactic Acid Projects Will Not Move Forward
ADM and LG Chem announced today that their previously announced projects for the production of lactic and polylactic acid will not move forward.
“Since we originally announced our two joint ventures with LG Chem for lactic and polylactic acid in 2022, construction costs have skyrocketed,” said Chris Cuddy, president of ADM’s Carbohydrate Solutions business. rPET Polymer
“We looked at a variety of options, but when the time came to make final investment decisions, it had become clear that these projects no longer represented a prudent use of our investors’ capital that would meet our returns objectives. ADM remains committed to leading in the decarbonization of the industries in which we participate, and we continue to expand our biosolutions portfolio to meet growing demand for sustainably sourced solutions. rPET Polymer
We also are continuing to advance multiple projects and facilities in support of innovation, jobs and economic growth for the Decatur region, the home of our North American headquarters and our largest manufacturing and employee location.”
The two joint ventures include GreenWise Lactic, of which ADM is a majority owner, and LG Chem Illinois Biochem, which is majority-owned by LG Chem. rPET Polymer
rPET Polymer