SK chemicals enters US medical packaging market to “seize growing demand for recycled plastics”
02 Feb 2024 --- SK chemicals is set to enter the US medical packaging market by unveiling its circular recycling solution at the upcoming Medical Design & Manufacturing West 2024 (MD&M) exhibition. The event, scheduled in Anaheim, US, from February 6 to 8, is a platform for showcasing innovations in the medical device and manufacturing industry.
SK chemicals, a leading global chemical company, will present its conventional polyester used in medical items such as Personal Protective Equipment (PPE) and medical device packaging. It will also showcase materials incorporating SK chemicals’ chemical recycling technology, dubbed “circular recycling,” such as Skypet CR and Ecotria CR.
The move comes in response to the rising demand for recycled plastics in the US medical device industry, with SK chemicals strategically partnering with Pacur, a prominent US custom sheet extruder.
The collaboration addresses the industry’s growing need for sustainable solutions in medical device packaging. Products incorporating SK chemicals’ materials will be showcased at Pacur’s booth during MD&M.
SK chemicals says the medical equipment market has been growing in conjunction with rising chronic disease rates, driving the growth of the medical packaging market.
The company exemplifies this growth through market research that shows the medical packaging market, which was US$24.43 billion in 2022, is expected to grow at an average annual rate of 6.2%, reaching US$39.53 billion by 2030.
SK chemicals plans to introduce Skypet CR BL, containing 98.5% recycled content, and the Ecotria Series for the medical industry as part of its joint efforts with Pacur.Strategic moves
SK chemicals’ move into the US medical packaging market aligns with its global strategy, as evidenced by the establishment of its subsidiary, SK Shantou, and the acquisition of Shuye, a Chinese green materials specialist, last year. These initiatives aim to create a global hub for recycled plastics, ensuring a stable production system.
Kim Eung-soo, head of the Green Materials business division at SK chemicals, says: “The collaboration with Pacur, a leading company in the US medical packaging sector, will serve as a crucial milestone in enhancing sustainability in the medical packaging field.”
“We will exert more efforts to expand the supply of recycled materials in the medical packaging sector in the future.”
SK chemicals plans to introduce products like Skypet CR BL, containing 98.5% recycled content, and the Ecotria Series, as part of its joint efforts with Pacur. Following the application of circular recycling materials in products such as water bottles and food containers and collaborations with companies like Korea Kolmar, Cosmax and Yonwoo for cosmetic containers, SK chemicals continues to expand the scope of applications for recycling solutions.
“The strategic collaboration with SK chemicals represents a substantial opportunity for diversifying our portfolio of sustainable solutions for medical device packaging, leveraging the supply of SK’s recycled materials,” states Jason Eckel, senior vice president of sales and marketing at Pacur.
After successfully participating in MD&M West 2024, SK chemicals’ US subsidiary, SK chemicals America, will continue its engagement by hosting a booth at the NPE 2024 show in Orlando from May 6–10. This platform will promote their sustainable product portfolio across North, Central and Latin American markets.
Edited by Radhika Sikaria
