Monday, 24 June 2024

Korea's SK chemicals targets US medical packaging market with circular recycling solution

02 February 2024 | News

Collaborates with medical device packaging company Pacur, LLC to seize the growing demand for recycled plastics in the US medical device industry

South Korea-based 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.

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 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.

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