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On May 28, BASF and Red Avenue New Materials Group (hereinafter referred to as Red Avenue New Materials) signed a joint agreement to authorize Red Avenue New Materials Group to produce and sell certified compostable aliphatic-aromatic copolyester (PBAT) according to BASF's high-quality standards.
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The global certified compostable and bio-based plastics market is expected to grow at around 15% annually
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Olivier Ubrich, head of BASF's Global Specialty Polymers business unit, said: "After the successful launch of ecoflex® biopolyesters and innovative ecovio® products, BASF has established a presence in this growing market
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Adhering to the development concept of "materials make the earth better", Red Avenue New Materials Group has established the corporate vision of "promoting the sustainable development of the new material industry in an innovative and responsible way"
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BASF's biopolymer ecoflex® was launched on the market in 1998 and is certified as a compostable product according to the German standard DIN EN 13432 as well as the American standard ASTM D6400
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BASF is committed to creating new roles in chemistry and has a strong global R&D network to help customers create value by developing new processes, new applications and new products; Red Avenue New Materials is the world's leading comprehensive service provider of new materials, with 3 in China Lean manufacturing plant and 2 national laboratory R&D centers, with business scope covering more than 40 countries and regions around the world
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