Hanwha Solutions Co., chemical manufacturing unit under South Korean conglomerate Hanwha Group, is scaling up eco-friendly packaging materials business to meet group-wide drive for environmental, social and corporate governance (ESG).

According to industry sources on Tuesday, Hanwha Solutions’ advanced materials division currently is producing materials for eco-friendly packaging to reduce and replace single-use plastics. The materials are supplied first to domestic electronics makers who use them in product packages for protection against damage.

Amid rising market demand, Hanwha Solutions expects a double-digit growth in sales of the eco-friendly packaging materials, expanded polypropylene (EPP) this year. Global EPP market is estimated to grow 29.2 percent to 1.78 trillion won ($1.63 billion) in 2025 from 1.38 trillion won in 2020, according to the market research firm Market and Markets.

Expanded polypropylene (EPP) is a foam form of polypropylene. It is durable, lightweight and recyclable with excellent energy absorption and high strength properties. Hanwha Solutions earlier developed own packaging materials using EPP in cooperation with a local packaging solutions firm.

The Korean company also is expanding focus on production of eco-friendly plasticizers, additives to PVC and PSR resins to improve the flexibility of the plastics. Phthalate-based plasticizers are generally used globally, but Hanwha has developed non-phthalate-based Eco-DEHCH with outstanding weather resistance, gelling speed and plasticization efficiency.

By Choi Keun-do and Lee Ha-yeon

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