LG Chem exports its first bio-balanced phenol and acetone in earnest
-Shipping 5,200 tons of phenol and acetone to one of the world’s leading producers of renewable polymers in Germany
-The largest export contract ever in South Korea for low-carbon products certified by ISCC PLUS
LG Chem announced on the 21th that it starts to export its first bio-balanced phenol and acetone. It is a product that has acquired the International Sustainability & Carbon Certification PLUS (ISCC PLUS), a global sustainable eco-friendly material certification, using renewable bio-feedstock such as biomass or waste cooking oil.
LG Chem will export 4,000 tons of phenol and 1,200 tons of acetone, totaling 5,200 tons, and this is the largest volume of ISCC PLUS certified product ever exported from South Korea.
Phenol is the raw material for the initial process of polycarbonate, a highly-functional engineering plastic for making vehicle parts, and resins produced from phenols are also partially used as parts of electrical and electronic products and construction materials such as insulators.
Acetone has excellent solubility and is mainly used for solvent production such as cleaning agents, and paint thinner while being widely used across the industry as a raw material for building materials such as artificial marble(MMA).
Phenol and acetone from LG Chem Daesan plant will be exported to factories in China and Thailand of Germany’s leading producer of renewable polymers for making polycarbonate, a highly-functional plastics, using bio-balanced chemicals.
Since LG Chem first started to export bio-balanced SAP(Super Absorbent Polymer) in August last year, the Company has launched 41 products certified by ISCC PLUS, including PO(Poly Olefin), ABS(Acrylonitrile Butadiene Styrene), PVC(Poly Vinyl Chloride), NPG(Neo Pentyl Glycol), phenol, acetone etc., accelerating the development of new markets and customers.
LG Chem expects that its eco-friendly product business, which has obtained ISCC PLUS certification, will continue to expand in global markets including Europe and the U.S. amid growing needs and demand from customers who want to produce bio-balanced products to lead global ESG trends.
“We will continue to expand our portfolio of bio-balanced products in earnest to meet our customers' needs, leading eco-friendly market based on sustainable solutions,” said Noh Kug-lae, head of Petrochemical Business at LG Chem.