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SPECIALITY CHEMICALS WASTE MANAGEMENT

Neochem Technologies announces collaboration Roundtable on plastic recycling and circular economy

with Dutch fi rm, Lamoral Coatings highlights opportunities and challenges

Gujarat-based speciality chemicals textile fi nishings, coatings on roofs and A roundtable themed ‘Circular Eco- “Consumers are becoming more aware
company, Neochem Technologies Pvt. ultra-hard bio-based coatings that nomy for Plastics – Challenges and Oppor- of the environmental impact of plastic,
Ltd., has announced a strategic collabo- protect substrates from scratches, water, tunities in India’ took place on July 5 in creating momentum in the sector,” he
ration with Lamoral Coatings of The oil and dirt. New Delhi, marking a milestone for the noted. However, he added that India’s
Netherlands. upcoming ‘Plastics Recycling Show recycling sector, despite favourable
Neochem Technologies offers a India 2024’, scheduled to take place from market conditions, is still at a nascent
“Our shared vision is to revolutio- diverse product range which caters to December 4-6, at NESCO in Mumbai. stage. “To fully leverage its potential, the
nise the chemical industry by delivering various industries, including textile The roundtable gathered eminent indus- industry requires a robust circular economy
innovative products and services that processing, garment washing, home try leaders striving to advance plastic framework, a unifi ed policy approach,
make a positive impact on society and care, personal care, paints, paper, water recycling, despite the challenges posed by build a sustainable future, we must embrace and strategic investments in waste man-
the environment, with a joint vision of treatment and construction. India’s waste management ecosystem. localised solutions, educate and raise agement infrastructure. With an estimated
manufacturing Lamoral’s products in awareness among youth, drive ESG-focused value of approximately Rs. 15,000-crore,
India in due course of time,” Neochem chemicals from their processes. Lamoral “The collaboration between Lamoral With India’s waste management mar- execution, foster balanced concession waste must be recognised as a valuable
Technologies informed in a media resulted out of a research project and Neochem Technologies represents ket projected to grow from $13.1-bn in agreements, and cultivate risk appetite.” resource.” The sector’s growth, he added,
statement. focused on the shielding of satellite a powerful synergy. By combining 2023 to $21.7-bn by 2032, exhibiting a hinges on overcoming technical barriers,
antennas with a unique adhesion mecha- Lamoral’s innovation, global reach and CAGR of 6.5%, the roundtable addressed Need to empower waste pickers implementing effective EPR systems, and
Lamoral offers solutions in the nism, which has become the basis for technical prowess with Neochem’s agi- critical issues and opportunities in this Ms. Indumathi, Operator, Ward 150, developing sustainable fi nancing models.
chemical and materials sector for ex- the rest of the company’s technologies, lity, local expertise and innovative spirit, rapidly evolving sector. It highlighted Dry Waste Collection Centre, Bellandur, “Notably, the focus must expand beyond
tending the life of products through which are enabling manufacturers to we aim to create unparalleled value for the unique allure of the plastics indus- Bangalore, noted that the lack of economic plastic waste to encompass the broader
environmentally friendly durable coat- make products that last much longer. our customers and partners,” Neochem try in India, given its ongoing commit- value to low-value plastics and multi- waste stream, including the substantial
ings and fi nishes, eliminating harmful The solution offered include durable Technologies said in the statement. ment to sustainability and environmental layered plastics results in their disposal, per- 90% of wet waste that remains unad-
responsibility, and the strides in sustainable petuating environmental harm. “Our daily dressed. Through collaborative efforts,
TRADE TRENDS packaging materials, recycling techno- collections of 75-80 kg of single-use plastic, we can create a more sustainable future,
Palm oil imports at six-month high, sunfl ower oil logies, and biodegradable polymers. valued at Rs. 2,000-2,400, are testament generating employment opportunities and
to the scale of the issue. Furthermore, reducing carbon emissions.”
hits record high Legacy waste problem – a formidable the 600-kg of MLPs generated daily pose a
signifi cant disposal challenge,” she noted. ‘Plastic management, not plastics, the
challenge’
Palm oil imports in June rose to Palm oil has been trading at a dis- ble oil imports up 1.4 percent to 1.55- Speaking at the event, Mr. Prashanth With only 20-30% of waste being managed problem’
reach the highest level in six months count to soybean oil and sunfl ower oil million tons, the SEA said. Sunfl ower Singh, Co-Founder and CEO, Blue Planet, through dry waste collection centres, leav- Mr. Vaibhav Rathi, Senior Technical
on robust demand from refi ners for for many weeks, encouraging refi ners oil usually holds a premium of more noted that while India has made signi- ing 70-80% unaccounted for, she stressed Advisor, GIZ India, noted that plastic man-
upcoming festivals, while sunfl ower oil to increase purchases for upcoming than $100 per ton over soybean oil and fi cant strides in plastic waste management, that the current approach requires trans- agement is the problem, not plastic itself.
imports surged to a record level, as per festivals. palm oil, but since it was trading at a the enormous legacy waste problem formation. “We urgently need to integrate While rapid urbanisation has led to a con-
data compiled by the Solvent Extrac- discount in April, Indian refi ners placed remains a formidable challenge. “At Blue waste pickers into the Extended Producer sumption surge, lack of waste management
tors’ Association of India (SEA). Crude palm oil imports were offered orders for June shipments, dealers said. Planet, we’ve successfully remediated Responsibility (EPR) framework, provi- capacity is causing environmental harm.
at about $954 a metric ton, including over 25 plus projects across seven States, ding them with capacity building, training, “Local solutions, like hub-and-spoke re-
Higher palm oil purchases by India, cost, insurance and freight (CIF), in India buys palm oil mainly from processing a substantial 1.5-mt of waste, and technological support. By empower- cycling models, policy changes, and fi nan-
the world’s biggest importer of vege- India for June delivery, while soyoil Indonesia, Malaysia and Thailand, while with the support of 62 cement plants. ing waste pickers, we can unlock effi cient cial innovations, are crucial to tackle this
table oils, could help leading produ- and sunfl ower oil were offered around it imports soyoil and sunfl ower oil from RDF, the most diffi cult and neglected waste management solutions.” issue. Cities must take ownership, leve-
cers Indonesia and Malaysia bring $1,049 and $1,065 a ton, respectively, Argentina, Brazil, Russia and Ukraine. waste stream, makes up 15-25% of the raging local bylaws and knowledge of waste
down stocks and support the benchmark the SEA said. Sunfl ower oil imports in July will fall waste, posing a signifi cant challenge in Waste as a valuable resource generation to establish recycling hubs and
Malaysian palm oil futures. Palm oil im- since it is no longer at a discount to rival the waste management puzzle,” he said. Mr. Shailendra Singh, CEO and partner with nearby cities.” While EPR has
ports rose about 3 percent in June from Imports of soy-oil in June fell nearly oils, but palm oil imports will jump to Founder, SustainMantra, noted that the a role, Mr. Rathi stressed that it is not the
the previous month to 786,134 metric 15 percent to 275,700 tons and sunfl ow- 850,000 tons due to the recent correc- Mr. Singh also highlighted several hur- macro drivers for recycling are favour- only solution. “Entrepreneurs must inno-
tons, the highest since December 2023, er oil imports gained 13.4 percent to a tion in prices, a Mumbai-based trader dles including in accessing capital, decision- able, with evolving regulations and vate to create a sustainable, economically
the SEA said in a statement. record 465,647 tons, with total vegeta- was quoted as saying in a Reuters report. making, and policy standardization. “To increased global attention on plastic waste. viable waste management system.”

138 Chemical Weekly July 30, 2024 Chemical Weekly July 30, 2024 139

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