LG Chem is developing eco-friendly plasticizer raw materials and targeting the eco-friendly markets in Korea, Europe, and the United States.
LG Chem announced on the 26th that it will establish a virtuous cycle system for waste plastic by making eco-friendly plasticizers, a raw material for flooring, from PET bottles that are discarded in everyday life.
Plasticizers are essential additives that improve the flexibility and elasticity of PVC and are mainly used to make flooring and car seats.
LG Chem's eco-friendly plasticizer significantly reduces the amount of carbon generated during production compared to existing products. LG Chem plans to begin full-scale production starting in December of this year.
Globally, the U.S. and European countries are strengthening plastic-related policies, and the market size for environmentally friendly products is increasing yearly. The eco-friendly plasticizer is a product developed at the request of primary customers who focus on exporting to North America.
Some U.S. states have expanded the obligation to use recycled materials from 15% to 30% by 2030, so the eco-friendly market has bright growth prospects.
LG Chem aims to lead the eco-friendly market through GRS (Global Recycling Standard), a global recycling standard certification from the United States. GRS is an eco-friendly product certification that contains more than 20% recycled raw materials, and LG Chem has the GRS standard of primary North American flooring and textile companies.
LG Chem Managing Director Han Dong-Yeop (PVC/Plasticizer Division Manager) said, "LG Chem will accelerate ESG innovation through continuous expansion of eco-friendly products."
The link to the Korean version of this article is below.
By_BK Min, KDFN firstname.lastname@example.org