SK Group's Entis and Jogwang Paint Commercialize World's First 'Chemical Recycling Powder Coating'

The First Participation of the Paint Industry in the Plastic Resource Circulation Ecosystem

Powder coatings in various colors applied with chemically recycled resin. Photo by Chokwang Paint

[Asia Economy Reporter Choi Seoyoon] Entis, a precision chemical product manufacturing and sales company jointly owned 50% each by SK Chemicals and Belgian chemical company Oltex, has partnered with Chokwang Paint to produce powder coatings using waste plastics.

Entis and Chokwang Paint announced on the 28th that they will launch 'POWLAC(POWLAC)PE,' a powder coating applying the world's first plastic chemical recycling technology. Entis produces and supplies 'Ecocryl,' a polyester resin for powder coatings made from chemically recycled raw materials, and Chokwang Paint uses it to manufacture powder coatings.

Powder coatings refer to paint in powder form. Unlike conventional paints, they do not use volatile organic solvents such as thinner, reducing risks of poisoning and fire, and minimizing environmental issues like air and water pollution. They also offer excellent coating workability and are easy to transport and store. They are considered economical due to almost no waste. Because of these advantages, powder coatings are used as coating materials in various industries such as home appliances, construction, and automobiles.

Entis's polyester resin for powder coatings, 'Ecocryl,' developed as a chemically recycled material, exhibits physical properties equivalent to existing products. The industry is paying great attention, evaluating that Entis and Chokwang Paint have expanded chemical recycling technology from plastics to the paint industry, opening a new horizon for eco-friendly coatings.

The global powder coating market, which had temporarily slowed due to COVID-19, is expected to be driven by the automotive parts industry sector. According to global market research firm Allied, the global powder coating market is predicted to reach $15 billion (approximately 20 trillion KRW) by 2026, raising expectations for the growth of Entis-Chokwang Paint's chemically recycled powder coating 'POWLACPE' in the powder coating market.

Entis is a specialized company producing resins for powder coatings and photo-curable coating materials that react to ultraviolet rays and other stimuli. It achieved sales of 48 billion KRW last year.

Chokwang Paint has been focusing on expanding its portfolio by achieving results in developing eco-friendly products such as water-based paints for railway vehicles and bio UV coatings, which have recently obtained domestic and international certifications. Starting with the production of the powder coating 'POWLACPE,' Chokwang Paint plans to expand and apply chemical recycling technology to the 'POWLAC' series.

Yang Seongah, CEO of Chokwang Paint, said, "The importance of sustainable business models through ESG management is increasing in the paint industry recently," adding, "We plan to strengthen future competitiveness through continuous research and development of eco-friendly technologies and expansion of brand portfolios."

Kim Hakseong, CEO of Entis, emphasized, "Chemical recycling technology is gaining attention as a solution to plastic environmental problems," and said, "We will strive to build a plastic circular ecosystem to accelerate the transition to a sustainable society."