and SEONGNAM, , /PRNewswire/ -- SK chemicals is actively targeting the global cosmetic container market with Circular Recycle materials. SK chemicals (CEO -hyun) announced on the 27th that it participated in Beauty Expo 2024, held at the Shanghai New International Expo Center (SNIEC) from the 22nd to the 24th. China Beauty Expo is largest beauty exhibition, where global cosmetic brands, manufacturers, distributors, and related organizations participate to showcase the latest trends, technologies, and products.
This year, over 3,200 companies from more than 40 countries participated. Recently, the cosmetics industry has been paying attention to the Chinese cosmetics market. According to the report released by the China Flavors and Essences Cosmetics Industry Association last year, the market size of cosmetics industry in 2023 was ( ), a 6.
4% increase from the previous year. It is expected to maintain a steep growth rate of over 5% annually until 2025. At this exhibition, global cosmetics companies and local Chinese companies engaged in fierce promotional competition.
SK chemicals, the No. 1 company in the Chinese copolyester market, showcased sustainable plastic materials that contain recycled raw materials or can be recycled into PET after use, under the slogan Redefining Beauty Packaging for a Sustainable Future, in line with the recycling trend in the cosmetic packaging market featured at this exhibition. A diverse lineup of materials was presented, including the high-perfo.