August 14, 2024 – Two significant news items have emerged recently in the chemical industry.
Firstly, the highly anticipated 2024 Plastic Chemical Recycling and Biobased Plastics Forum is scheduled to take place in Zhoushan on September 24th. This forum will gather industry experts and corporate representatives to collectively explore market opportunities in the field of chemically recycled plastics and biobased plastics. The conference will cover a wide range of topics, including chemical recycling technologies for waste plastics, related projects and advanced equipment, as well as the application of high-performance catalysts and adsorbents in the purification of waste plastic pyrolysis oil. Furthermore, the forum will delve into the advantages of a corn-based biorefinery integration project and discuss the latest advancements and industrialization status of biobased plastics such as PLA, PHA, PBS, PDO-PTT, HMF-FDCA-PEF, glutaraldehyde-PA56, and biobased long-chain dibasic acid esters. Additionally, the future vision of downstream brand owners regarding PCR plastics and biobased plastics will be a focal point of discussion.
In other news, Shaoguan Hongfu New Material Technology Co., Ltd. held a grand project kickoff ceremony at the Guangdong Wujiang District Urban-Rural Integration Industrial Park. It is reported that the company has purchased 100 acres of land in the industrial park, planning to establish multiple production lines for composite process functional new material textiles and supporting functional (woven) filament production equipment. These facilities will be utilized for the manufacture of novel environmentally friendly plastic woven bags (including non-woven fabrics, square bottom valve pocket bags, tonnage bags, etc.) and modified recycled plastic granules. The project, with an estimated investment of 200 million yuan, is scheduled to commence operations in March 2025. Upon completion, it is anticipated to produce 50,000 tons of new environmentally friendly plastic woven bags and 50,000 tons of modified recycled plastic (polypropylene, polyethylene) granules annually, with a potential annual output value of 300 to 400 million yuan. This could generate approximately 20 million yuan in tax revenue for the locality. Additionally, the project is expected to provide over 500 direct jobs and indirectly employ between 700 and 900 people, significantly contributing to local employment and rapid economic and social development.
According to the Color Masterbatch Industry Network, the fields of chemically recycled plastics and biobased plastics are facing unprecedented market opportunities, given the global emphasis on environmental protection and sustainable development. The convening of this forum and the initiation of the new project by Shaoguan Hongfu New Material Technology Co., Ltd. undoubtedly inject fresh vitality into the development of the chemical industry, demonstrating the industry’s unwavering confidence in the future.