The scale of the circular economy may exceed 4 trillion US dollars in 2030, and the giants will accelerate their entry into the blue ocean market of nuggets

Reporter Fang Chao and Quartz Jing report from Shanghai

With the in-depth promotion of the "dual carbon" strategy, the circular economy is ushering in an unprecedented period of development opportunities.

On April 23, the 36th China International Exhibition on Plastics and Rubber Industries (CHINAPLAS 2024, hereinafter referred to as "Chinaplas 2024") kicked off at the National Convention and Exhibition Center in Shanghai. It is reported that this is the return of Chinaplas to Shanghai after a six-year absence, and the circular economy has become one of the biggest attractions of this exhibition.

(Chinaplas 2024 Media Day.) Photo courtesy of the organizer)

The reporter of "China Business Daily" learned from the organizer of the 2024 China International Rubber and Plastics Exhibition that this year, a number of industry giants will bring circular economy solutions in different industries, such as Syensqo to bring breakthrough solutions in the fields of green transportation and healthy life, and Evonik (Evonik) also showed its latest sustainable polymer and additive solutions for the rubber and plastic industry.

"Circular economy projects are the key to achieving sustainable growth with economic, ecological and social benefits. At present, China is vigorously developing a circular economy. We want to be an active part of it. With our innovative capabilities and sustainability in the field of specialty chemicals, we are able to support our customers in their transition to circularity. Evonik Greater China President Xia Fuliang said.

Behind the giants have increased their weight, the huge market space of the circular economy has attracted more and more attention from the market. According to Accenture's monograph "The Path to a Circular Economy: Towards Sustainability", the global circular economy market is expected to reach $4.5 trillion by 2030, and is estimated to grow at a CAGR of 10.7% based on the baseline scenario.

Giants accelerate the implementation of solutions

"We are excited to be exhibiting at Chinaplas 2024 to showcase our market-leading products and sustainability solutions with a new brand identity. Yu Jiayi, President of LYB Asia Pacific, said.

It is reported that at the 2024 International Rubber and Plastics Exhibition, LyondellBasel will showcase five innovative application solutions with the theme of "Creating a Better Tomorrow": Automotive and Transportation, Life and Consumption, Medical and Health, Building and Infrastructure, and Circular and Low-Carbon Solutions.

Taking Circulen's circular and low-carbon solutions as an example, LyondellBasel introduced that the Circulen range of polymers are produced using mechanical recycling (CirculenRecover), advanced recycling (CirculenRevive) or bio-based raw materials (CirculenRenew) to reduce plastic waste and reduce the carbon footprint (compared to using fossil raw materials).

"Each application exemplifies how LyondellBasel can help enrich people's everyday lives in a responsible way: making cars more energy-efficient, keeping food fresh longer, supporting health and well-being, improving the durability and efficiency of buildings, and recycling used plastic into everyday products. LeondellBasel said.

"By working with our partners along the value chain, we continue to bring innovative and sustainable solutions to the local market, meet diverse consumer needs and drive the industry towards a more sustainable future," said Fu Limin, Vice President of Joint Venture Management and Polyolefins Business at LyondellBasel China. ”

Similarly, Evonik, a global leader in specialty chemicals, will also showcase its latest sustainable polymer and additive solutions for the plastics and rubber industry at Chinaplas 2024 to support the circular economy.

"The use of renewable raw materials and the full exploitation of the recycling value of materials are important ways to achieve a circular economy", Evonik, as the world's leading producer of polyamide 12 (PA12) and the inventor of PA12, is improving the sustainability and circularity of PA12 products through a variety of technological paths in the context of the circular economy.

"Supporting customers to achieve a low-carbon transition through a broad portfolio of sustainable solutions and products has always been a core goal of Syensqo," said Syensqo, the world's leading specialty chemical company, adding that more than 80% of Syensqo's innovation projects are currently focused on creating sustainable solutions, "and strive to increase the proportion of circular solutions in the Group's sales to 18% by 2030, further reinforcing Syensqo's commitment to sustainability." ”

The automotive industry has become an important driving force

Amid the accelerating transformation of the automotive industry, many companies will also showcase their latest technological achievements in the automotive field at Chinaplas 2024.

Taking Syensqo as an example, as a cutting-edge supplier in the automotive market, Syensqo will bring material solutions such as electric drive and thermal management, battery packs and cells, green hydrogen, and lightweight based on the range and safety challenges faced by new energy vehicles.

In mid-April, Syensqo announced a partnership with NIO. According to public information, Bi Lu, assistant vice president of NIO, said: "Syensqo has leading technology and rich experience in the field of high-performance materials, and the cooperation between the two parties will combine to provide more advanced solutions for more intelligent and efficient electric vehicles." ”

The reporter noted that in the context of lightweight becoming an important development direction of the automotive industry, many leading enterprises of new materials are continuing to make efforts in this field.

"At present, one of the important ways to reduce the weight of automobile bodies is to use lightweight and efficient composite parts. Wanhua Chemical's WANSUPER® POE material has low density, excellent weather resistance, and good compatibility with PP material. Wanhua Chemical said.

According to Wanhua Chemical, the blended modified material of WANSUPER® POE material and PP can be widely used in many auto parts, such as bumpers, airbag boxes, sound insulation pads, etc. With the continuous improvement of the penetration rate of new energy vehicles and the continuous growth of demand in the automobile manufacturing industry, the demand for POE will further grow rapidly.

Not only Wanhua Chemical, but also Chambroad Holding Group is aiming at the development trend of automobile lightweight.

"POE promotes the development of photovoltaic clean energy and new energy vehicles, and the BetoppTM-PV products produced by it have unique molecular structure properties, so that the photovoltaic film shows excellent aging resistance and high body resistance. At the 2024 Chinaplas Media Day, Luan Bo, director of Chambroad Holding Group and chairman of Chambroad Petrochemical, Beoyi and Chambroad Zhongju, said this to the media, including reporters.

In addition, there are many companies aiming at the retirement tide of new energy power batteries and digging 100 billion yuan industrial chain.

"In the field of new energy, Junnuo has established an intelligent control system for the whole process of waste lithium battery treatment, broken through the live crushing of waste lithium batteries, electromagnetic induction oxygen control and temperature control pyrolysis technology, formed an intelligent and green complete set of equipment for the high-value resource recycling of waste lithium batteries, and took the lead in building an advanced efficient recycling system for retired lithium batteries for domestic lithium battery giants, and boosted the development of the resource recycling industry of retired lithium batteries in mainland China. The relevant person in charge of Junnuo environmental protection introduced.

(Editor: Quartz Jing Review: Tong Haihua Proofreader: Zhang Guogang)