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SK Chemicals has launched recycled fiber fabrics made of 100 percent polyester and spandex blend, developed jointly with eco-friendly social enterprises, Art Impact and Project 1907.
The fabrics are made of materials such as chemically recycled polyethylene terephthalate (CR-PET) supplied by SK Chemicals as raw materials and are commercialized by Art Impact and Project 1907.
SK Chemicals led this collaboration through the plastic circulation ecosystem platform "Ieum."
To link the chemical recycling fiber supply chain with customers, the company intends to create a business-to-business-to-consumer sales network.
The business is also enlarging its network of partnerships with different textile fashion businesses that deal with apparel, everyday essentials, camping gear, packaging materials, etc.
According to the Korea Institute for Industrial Economics & Trade, the global recycled polyester fiber market is expected to grow at an average annual rate of 4.9% and reach about $3.7 billion in 2026.
On March 6, SK Chemicals decided to purchase the CR-PET unit of Shuye, a Chinese green materials specialist, for about 130 billion won.
Shuye had supplied raw materials to SK Chemicals.
