SK Chemicals Advances Recycling and Upgrades Ecozen Copolyester
SK Chemicals is focusing on chemical recycling and enhancing its Ecozen copolyester line, aiming to expand its global market share. The company has commercialized depolymerization technology and is building a recycling innovation center. Ecozen, a bio-based, high-heat copolyester, is being upgraded for broader applications.
SK Chemicals is intensifying its efforts in chemical recycling and advancing its copolyester technology to maintain its position as a global leader. The company became the first to commercialize depolymerization technology and launched recycled PET in 2022. In 2023, SK Chemicals acquired recycling divisions from China’s Shuye Environmental Technology to expand its recycling business, establishing SK Shantou with a production capacity of 70,000 metric tons per year. Recycled materials from SK Shantou are used in products containing 50 to 70 percent recycled content. SK Chemicals is also constructing a recycling innovation center at its Ulsan plant, set to begin operations next year, to broaden the range of recyclable materials beyond traditional bottles to fibers, films, and automotive parts. The company is responding to global trends, such as the EU’s mandate for recycled content in plastic bottles, by developing recyclable copolyesters. SK Chemicals is also upgrading its Ecozen copolyester, a bio-based, transparent, high-heat resistant material free of Bisphenol-A, to add higher value and expand its applications. Market analysts estimate SK Chemicals holds about 40 percent of the global copolyester market, second only to Eastman. The global copolyester market is projected to grow from $2.5 billion to $4 billion by 2033, with a compound annual growth rate of 5.5 percent. SK Chemicals reported a significant increase in revenue and profit in the third quarter, reflecting its successful expansion and innovation in sustainable materials.
