R&D and Supply agreement with FORPET BALTIC advances sustainable credentials and expertise
Graft Polymer, the specialty chemicals company offering modified polymer solutions for refiners, compounders and processors, announces the signing of its third Research & Development (‘R&D’) and Supply agreement in the last two months.
Graft and European FMCG packaging company, FORPET BALTIC, SIA (‘FORPET’), will cooperate in the research and production of Recycled PET, a sustainable and environmentally friendly form of Polyethylene Terephthalate (a polyester widely used in the production of water bottles and food containers) and other sustainable packaging solutions. Once joint R&D is complete Graft will supply FORPET with the new product for manufacture.
The global PET market is projected to grow from US$48.4 billion in 2023 to US$91.4 billion by 2030, a CAGR of 9.5%.
PET is recyclable and lightweight, making it an ideal material in the packaging industry. The growing inclination toward high quality packaging in the pharmaceutical and food & beverage industries will boost product adoption.
Furthermore, it is expected that enhanced R&D activities and advancements in polymers will fuel the PET market growth throughout the forecast period.
Sustainable innovation is central to Graft’s vision as a pioneering company in the field of polymer modification technologies. The Company is focused on expanding its product ranges and global footprint, establishing partnerships to help it compete effectively through cutting edge R&D and production methods.
Graft CEO, Victor Bolduev, said: “We are delighted to forge this new partnership with FORPET, a leader in the field of sustainable and environmentally friendly packaging. Our deep expertise in polymer modification will help play a vital role in developing game-changing solutions for the disposable plastic industry.”
Sergey Nikitenko, Managing Director of FORPET, commented: “We look forward to working with Victor and his team. We have been impressed by Graft’s scientific and proven approach to problem solving which together with surety of supply from the newly commissioned industrial facility made them an obvious choice for this important project.”
Source: Company Press Release