– Showcasing a diverse lineup of copolyesters using Circular Recycle materials
– Strengthening collaboration with brand owners in targeting the premium cosmetic container market
SHANGHAI and SEONGNAM, South Korea, May 27, 2024 /PRNewswire/ — SK chemicals is actively targeting the global cosmetic container market with Circular Recycle materials. SK chemicals (CEO Ahn Jae-hyun) announced on the 27th that it participated in China Beauty Expo 2024, held at the Shanghai New International Expo Center (SNIEC) from the 22nd to the 24th.
China Beauty Expo is Asia’s largest beauty exhibition, where global cosmetic brands, manufacturers, distributors, and related organizations participate to showcase the latest trends, technologies, and products. This year, over 3,200 companies from more than 40 countries participated.
Recently, the cosmetics industry has been paying attention to the Chinese cosmetics market. According to the 2023 China Cosmetics Market Industry Development and Consumption Insight report released by the China Flavors and Essences Cosmetics Industry Association last year, the market size of China’s cosmetics industry in 2023 was 516.9 billion yuan (96.9549 trillion won), a 6.4% increase from the previous year. It is expected to maintain a steep growth rate of over 5% annually until 2025. At this exhibition, global cosmetics companies and local Chinese companies engaged in fierce promotional competition.
SK chemicals, the No. 1 company in the Chinese copolyester market, showcased sustainable plastic materials that contain recycled raw materials or can be recycled into PET after use, under the slogan Redefining Beauty Packaging for a Sustainable Future, in line with the recycling trend in the cosmetic packaging market featured at this exhibition.
A diverse lineup of materials was presented, including the high-performance Circular Recycle copolyester ECOTRIA CR produced based on chemical recycling technology and the copolyester ECOTRIA CLARO that can be classified and recycled into PET after use. These products attracted a great deal of attention from Expo visitors.
Furthermore, SK chemicals introduced its core Circular Recycle technologies, materials, and cosmetic containers that use them, and also provided a session to introduce materials optimized for eco-friendly cosmetic containers to global cosmetic brand officials.
Based on the fact that SK chemicals established the world’s first commercial Circular Recycle material system and realized its products last March, active collaboration with brand owners is expected to continue in the future.
Kim Eung-soo, Head of SK chemicals’ Green Materials Business Division, said, “SK chemicals has been consistently striving to apply sustainable materials as a core material for premium cosmetic containers. We will continue to lead the market through close collaboration with global cosmetic brand owners.”
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