In Asia, Neste Oyj, Idemitsu Kosan Co. Ltd, CHIME Corporation, and Mitsubishi Corporation have agreed to build a renewable plastics supply chain utilizing biobased hydrocarbons (Neste RE) for the production of biobased styrene monomer (bioSM), and its mass-balanced renewable plastics derivatives including biobased acrylonitrile butadiene styrene (bioABS).
The bioSM production in Japan and the renewable plastics production in Taiwan will mark the first production of such products in each country, and they are planned to take place in the first half of 2023.
Finland-headed Neste, the world’s leading producer of renewable and circular feedstock for the polymers and chemicals industry uses, will provide its “Neste RE” to Idemitsu Kosan, the largest SM manufacturer in Japan.
For this collaboration, Neste RE is produced from 100 percent biobased raw materials such as waste and residues and its use can significantly reduce greenhouse gas (GHG) emissions compared with conventional fossil feedstock use.
Idemitsu Kosan will then produce bioSM based on the mass balance method and supply it to CHIMEI, the world’s largest ABS manufacturer for its renewable plastics production.
Mitsubishi Corporation will be coordinating the collaboration between the value chain partners to develop the renewable product market.
Tight partnership
By developing an even stronger partnership and closer collaboration than conventionally seen in plastics value chains, the companies are introducing new renewable contents into the value chain to enable plastic production where fossil feedstock has been replaced with renewable feedstock.
With this, the companies are contributing to the plastics industry’s GHG emission reduction targets and the transition toward a low-carbon emission society.
