LOTTE Chemical Manufactures First Waste Plastic Pyrolysis Naphtha Products among Korean Petrochemical Companies

■ Commercial production of PC (polycarbonate) and supply to clients by injecting waste plastic-based pyrolysis naphtha as a raw material for the first time

    in the Korean petrochemical industry

■ Recycling waste plastics that used to be incinerated to use as raw materials for petrochemical products... Efforts to strengthen cooperation with clients

    as an ESG management partner and construct a plastic circulating economy

■ LOTTE Chemical acquires the international eco-friendly product certification ISCC Plus for seven synthetic resin products such as PC, PEE and PP

■ Basic Materials President Hwang Jin-koo, “We will strengthen our chemical recycled plastic business such as pyrolysis products and contribute to improving

    the eco-friendly and product competitiveness of clients"

LOTTE Chemical (President and Vice-chair Kim Gyo-hyun) announced on the 28th that it will begin commercial production of petrochemical products using pyrolysis oil-based naphtha for the first time in the domestic industry.

This is a PC (polycarbonate) product and because it is strong against impact and has high heat-resistance and transparency, making it a high value synthetic resin that can be applied to electric/electronic/household appliances and automobile headlights, etc.

Waste plastic pyrolysis oil is an oil obtained by heating waste plastics such as vinyl at high temperatures. By removing impurities and completing the post-processing stage, it can be recycled into naphtha, diesel, etc. Naphtha obtained through this process can be injected into the petrochemical process to produce raw materials for plastics. It is drawing attention as a key technology to build a plastic circulating economy owing to the fact that it can recycle waste plastics that used to be incinerated as a raw material for petrochemical products.

In August of this year, LOTTE Chemical was supplied waste plastic pyrolysis naphtha from Hyundai Oil Bank and injected it into the MCC (Naphtha Cracking Center) at the Yeosu Plant and the manufactured product will be supplied to its clients together with the eco-friendly certification, ISCC PLUS (International Sustainability & Carbon Certification PLUS) to its client by late September.

The ISCC Plus certification is the EU’s renewable energy policy standard and it is an international program that certifies that eco-friendly products were used throughout the production process. In July of this year, LOTTE Chemical received ISCC PLUS certification for seven synthetic resin product groups [1] such as PCs produced using waste plastic-based pyrolysis naphtha raw materials. It plans to increase production using waste plastic pyrolysis naphtha and expand sales channels for global clients.

LOTTE Chemical Basic Materials CEO Hwang Jin-koo stated, “We will strengthen the chemical recycled plastic business such as pyrolysis products and take the initiative in building a resource circulating ecosystem,” while adding, “By expanding our eco-friendly and carbon mitigating product lineup, we will meet the demands of global clients and contribute to strengthening their ESG competitiveness.”

In May of this year, LOTTE Chemical established the ‘Green Promise 2030’ as its ESG vision and announced that it will increase the size of its eco-friendly recycled material business to 1 million tons by 2030. In August of this year, it completed modifications of its PET Plant in Ulsan Plant 2 using proprietary technologies and successfully began trial production of chemically recycled PET (C-rPET) as it pursues the chemical recycling business in earnest. Furthermore, it plans to systematically manage the economic, environmental, and social impact and risks of products throughout the entire process ranging from raw materials to sales, use and disposal to enhance social value and secure customer trust through resource circulation.