SK chemicals Targets the US Medical Packaging Market with Circular Recycling Solution
- Participates in the US's top medical device exhibition MD&M West 2024, unveiling circular recycling solution
- Collaborates with medical device packaging company Pacur, LLC to seize the growing demand for recycled plastics in the US medical device industry
SEONGNAM, South Korea, Feb. 1, 2024 /PRNewswire/ -- SK chemicals aims to enter the medical packaging market by unveiling a circular recycling solution at the upcoming Medical Design & Manufacturing West 2024 (MD&M) exhibition, held in Anaheim, USA from the 6th to the 8th of this month.
MD&M is a major exhibition in the United States for the medical device and manufacturing industry, showcasing innovative technologies and products related to medical device design and manufacturing. The event serves as a gathering for healthcare industry professionals, manufacturers, and stakeholders to explore the latest technologies and trends, facilitating the exchange of information on new products and services, thus contributing to the innovation and development of the medical device industry.
At the exhibition, SK chemicals will showcase not only its conventional polyester used in medical items such as PPE(Personal Protective Equipment) and medical Device Packaging but also materials applying circular recycling technology, such as SKYPET CR and ECOTRIA CR.
In a strategic move to address the increasing demand for recycled plastics in the medical device industry, SK chemicals plans to further solidify its longstanding partnership with Pacur, LLC, a leading US custom sheet extruder, with a primary focus on sustainable solutions for medical device packaging. This initiative begins with the upcoming exhibition. Pacur will exhibit products incorporating SK Chemical's materials, and detailed explanations about these materials will be provided at SK Chemical's booth. Future collaborations between SK chemicals and Pacur include the development of products based on recycled materials, such as SKYPET CR BL (containing 98.5% recycled content), and ECOTRIA Series.
The medical equipment market has been growing along with the increasing incidence of chronic diseases, consequently driving the growth of the medical packaging market. According to market research by Vantage Market Research, the medical packaging market, which was $24.43 billion in 2022, is expected to grow at an average annual rate of 6.2%, reaching $39.53 billion by 2030. SK chemicals' expansion in the medical packaging market is anticipated in light of these trends.
Jason Eckel, Senior Vice President of Sales and Marketing at Pacur, expressed, "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."
Kim Eung-soo, Head of the Green Materials Business Division at SK chemicals, mentioned, "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." He added, "We will exert more efforts to expand the supply of recycled materials in the medical packaging sector in the future."
It's worth noting that SK chemicals established its subsidiary, SK Shantou, last year, and acquired Shuye, a Chinese green materials specialist, to create a global hub for recycled plastics business, ensuring a stable production system.
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.
SKCA : SK chemicals America, the U.S. subsidiary of SK chemicals, is actively involved in the distribution of PET, PETG, R-PET, and R-PETG products across the North, Central, and Latin American markets. Following its successful participation in MD&M West 2024, SK chemicals will continue its engagement by hosting a booth at the NPE 2024 show in Orlando from May 6th to 10th. This platform will be utilized to showcase and promote their extensive sustainable product portfolio.
Pacur : Founded in 1979, Pacur is a leading extrduer of custom sheet and rollstock, based in Oshkosh, Wisconsin, focused on innovative sustainable solutions for medical device packaging and specialty applications.
For more information, visit www.pacur.com.
1) Circular Recycling: Refers to SK Chemical's unique chemical recycling technology. Chemical recycling involves converting discarded plastics into raw materials through a depolymerization process, allowing for the production of high-quality recycled plastics with infinite repeatability, in contrast to physical recycling, which involves simple shredding and melting/heating for recycling. |
SOURCE SK chemicals
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