LG Chem, South Korea’s leading chemical firm, said Sunday that it will launch a new acrylonitrile butadiene styrene product using plant-based raw materials, with the first batch being supplied to US toy manufacturer Mattel.
ABS is a rigid thermoplastic polymer that boasts higher resistance to heat and impact.
LG Chem is the market leader in ABS products with an annual production capacity of 2.4 million tons. ABS products make up almost 20 percent of its overall petrochemicals business sales.
The latest plant-based ABS has drastically reduced carbon emissions throughout the production and distribution process compared to existing ABS products. The product also received the International Sustainability and Carbon Certification Plus, the first for an Asian company.
Calling the launch of the new ABS product part of its long-term sustainability drive to achieve net zero emissions by 2050, the firm said it aims to expand its presence in the eco-friendly plastic market amid growing calls for environmental, social and governance efforts across industries.
“LG Chem will lead the market with products based on eco-friendly materials to provide customers with opportunities to choose environmentally friendly and mindful consumption,” said Roh Kuk-rae, LG Chem’s petrochemical business chief.