NTIS and Chokwang Paint announced the launch of 'POWLAC PE,' a powder coating that is the world's first to apply chemical recycling technology for plastics.
NTIS is a joint venture established by SK Chemicals and the Belgian chemical company Allnex. It produces resins for powder coatings and photo-curable coating materials that react to ultraviolet (UV) light, and posted sales of 48 billion won last year. NTIS produces and supplies 'ECOCRYL,' a polyester resin for powder coatings made from chemically recycled raw materials, and Chokwang Paint uses it to produce powder coatings. .
Powder coating is paint in powder form. Unlike ordinary paint, it does not use volatile organic solvents such as thinner, so it poses less risk of poisoning or fire and can minimize environmental problems such as air and water pollution. In addition, the company explained that it offers excellent application workability, is easy to transport and store, and generates almost no waste, making it economical. According to international market research firm Allied, the global powder coating market is expected to reach 15 billion dollars (20 trillion won) by 2026. Accordingly, the industry expects that NTIS–Chokwang Paint's chemically recycled powder coating 'POWLAC PE' will grow and lead the eco-friendly coating industry in the powder coating market going forward. Starting with the production of 'POWLAC PE,' Chokwang Paint plans to expand and apply chemical recycling technology across its 'POWLAC series.'
Yang Sung-a, CEO of Chokwang Paint, said, "The importance of sustainable business models through ESG management is growing in the coatings industry as well," adding, "We plan to strengthen our future competitiveness through continuous research and development of environmentally friendly technologies and expansion of our brand portfolio." In addition, Kim Hak-sung, CEO of NTIS, said, "The industry is paying close attention, with the assessment that NTIS and Chokwang Paint have opened a new horizon for eco-friendly coatings by expanding chemical recycling technology from plastics to the coatings industry," and added, "We will strive to build a plastic circular ecosystem so that we can accelerate the transition to a sustainable society." 051-304-7701