Neste, Idemitsu Kosan, CHIMEI, Mitsubishi build Asia bioplastics supply chain

SINGAPORE (ICIS)–Finland’s Neste, Japan’s Idemitsu Kosan and Mitsubishi Corp, and Taiwan’s CHIMEI Corp have agreed to build a renewable plastic supply chain using bio-based hydrocarbons (Neste RE) to produce styrene momomer (SM) and its renewable plastics derivatives.

The bio-SM production will be the first in Japan, while the renewable plastics production will be the first in Taiwan, and “they are planned to take place in the first half of 2023”, the firms said in a joint statement on Monday.

Under the collaboration, Neste RE – which is produced from 100% bio-based raw materials such as waste and residues – will be provided to Idemitsu Kosan, which is the biggest SM producer in Japan.

Idemitsu Kosan’s bio-based SM output will then be supplied to CHIMEI, which produces downstream acrylonitrile butadiene styrene (ABS).

Mitsubishi Corp is tasked with coordinating the collaboration between the value chain partners and develop renewable product’s market.

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“With this, the companies are contributing to the plastics industry GHG (greenhouse gas) emission reduction targets and the transition towards a low-carbon emission society,” they said.