As of mid-Jan 2025 in South Korea, the Polyolefin Elastomer (POE) Market showed signs of weakness due to fewer users' orders than expected. Demand for POE from end users' sectors kept POE orders for both sectors relatively constant, though at lower-than-normal levels. The number of export shipments also slowed as vehicle sales have decreased and industrial activity has slowed. There were still enough orders of POE to satisfy the normal demand. However, the buyer sentiment was weak, but the disciplined strategies of suppliers prevented supply disruptions.
Selenis has effectively manufactured recycled PET chips using terephthalic acid sourced from Circ®, a textile-to-textile recycler based in Virginia. The chip production took place through a series of batches at Selenis' pilot plant in San-Giorgio, Italy. By utilizing inputs recovered from polycotton textile waste, Selenis has created high-quality PET chip, which has been further processed into DTY yarn. This yarn will play a crucial role in product development as Circ prepares for additional capsule launches. Selenis is leveraging the success of this initial collaboration phase and is committed to advancing towards an offtake partnership to support Circ's inaugural industrial facility.
Eduardo Santos, Head of Corporate Strategy at Selenis, remarked that the monomer synthesis showed a performance comparable to virgin terephthalic acid. He expressed optimism about the consistent quality of Circ's monomer output and anticipated future commercial success. Santos pointed out that the Circ partnership complements Selenis's existing mission and goals for a more sustainable textile industry. He further stated their anticipation of expanding upon this collaboration and providing support for Circ's forthcoming commercial production trials.
