Bio-based Material Quarterly Newsletter Q1 2023
Welcome to the Bio-based Material Quarterly Newsletter Q1 2023.
Policy
In the quarter, the Ministry of Industry and Information Technology of China (MIIT), National Development and Reform Commission (NDRC) and other government bodies jointly issued the Three-Year Action Plan for Accelerating the Non-Grain Bio-Based Material Innovative Development, setting targets by 2025 to push the lactic acid (LA) production capacity to 100,000 t/a, and the pentamethylene diamine (PDA) and polyhydroxyalkanoates (PHA) capacity to 10,000 t/a.
Market dynamics & company performance
Kingfa's 30,000 t/a PLA project has entered stable production; and there are updates of the PLA projects of BBCA Biochemical, Shanghai Kingfo, Tieling Yingzhihao, Golden Far East, Juyuan New Material and new proposals of PLA projects of Guangdong Sisan and Inner Mongolia Heguang. Hisun Biomaterials reported a 3.49% growth in 2022 revenue and pure PLA sales growing by 8.88% YoY.
Anhui Yinchuang's 1,000 t/a succinic acid (SA) project, Shandong Qiantai's 1,500 t/a SA project and Land Biological's SA technological upgrade and transformation project, have moved further during the pre-construction phase; Zhongke Biotech's diacid & long-chain polyamides project was approved; Cathay Biotech's long-chain polyamide project was postponed to start up to Dec. 2023; and Xinxiang Chemical and Sichuan Siliya were ramping up their biomass-derived cellulose fibre capacity.
More are included: Bluepha launched its first Bluepha™ PHA; Huafon Group's 30,000 t/a bio-based PTT project was soon to be approved; SynMetabio planned to expand the Naro Leather production with the raised funding of over RMB10 million; Eyougene Biotech was pacing up to commercialise FCDA with the raised funding of over RMB100 million; HANVO Safety teamed up with Beijing University of Chemical Technology (BUCT) to bring further the R&D and application of bio-based degradable polyester rubber materials; the (EIA) document of Zhongke Juhe's PEF and PCT pilot project was approved shedding light on the details.
Price
In the period of Q1, there was a general decline in the PLA prices, while the PHA prices have remain flat.
Policy
In the quarter, the Ministry of Industry and Information Technology of China (MIIT), National Development and Reform Commission (NDRC) and other government bodies jointly issued the Three-Year Action Plan for Accelerating the Non-Grain Bio-Based Material Innovative Development, setting targets by 2025 to push the lactic acid (LA) production capacity to 100,000 t/a, and the pentamethylene diamine (PDA) and polyhydroxyalkanoates (PHA) capacity to 10,000 t/a.
Market dynamics & company performance
Kingfa's 30,000 t/a PLA project has entered stable production; and there are updates of the PLA projects of BBCA Biochemical, Shanghai Kingfo, Tieling Yingzhihao, Golden Far East, Juyuan New Material and new proposals of PLA projects of Guangdong Sisan and Inner Mongolia Heguang. Hisun Biomaterials reported a 3.49% growth in 2022 revenue and pure PLA sales growing by 8.88% YoY.
Anhui Yinchuang's 1,000 t/a succinic acid (SA) project, Shandong Qiantai's 1,500 t/a SA project and Land Biological's SA technological upgrade and transformation project, have moved further during the pre-construction phase; Zhongke Biotech's diacid & long-chain polyamides project was approved; Cathay Biotech's long-chain polyamide project was postponed to start up to Dec. 2023; and Xinxiang Chemical and Sichuan Siliya were ramping up their biomass-derived cellulose fibre capacity.
More are included: Bluepha launched its first Bluepha™ PHA; Huafon Group's 30,000 t/a bio-based PTT project was soon to be approved; SynMetabio planned to expand the Naro Leather production with the raised funding of over RMB10 million; Eyougene Biotech was pacing up to commercialise FCDA with the raised funding of over RMB100 million; HANVO Safety teamed up with Beijing University of Chemical Technology (BUCT) to bring further the R&D and application of bio-based degradable polyester rubber materials; the (EIA) document of Zhongke Juhe's PEF and PCT pilot project was approved shedding light on the details.
Price
In the period of Q1, there was a general decline in the PLA prices, while the PHA prices have remain flat.
Editor's Note
Governmental Direction
China launches three-year action plan for non-grain bio-based material innovative development
Market Analysis
Hisun Biomaterials reports growths in 2022 results
Updates of China's PLA projects in Q1
Bluepha: PHA product debut and new strategic partnership with Shanghai DODGEN
Company Dynamics
Huafon Group's 30,000 t/a bio-based PTT project to be approved
Zhongke Biotech's 50,000 t/a diacid and 50,000 t/a bio-based materials project approved
Xinxiang Chemical ramping up biomass-derived cellulose fibre capacity
Update on Golden Far East's 100,000 t/a lactide/PLA and 200,000 t/a LA project
Two bio-based succinic acid projects accepted with EI reports
SynMetabio raises over RMB10 million funding
Price Update
News in Brief
First disclosure of Sichuan Siliya's cellulose fibre project
Juyuan New Material to build 50,000 t/a PLA capacity
Cathay Biotech delays 20,000 t/a long-chain polyamide operation start
Eyougene Biotech secures RMB100 million+ Series B financing
Zhongke Juhe's high-end bio-based polyester pilot project approved
HANVO Safety and BUCT form strategic cooperative partnership
Land Biological to upgrade succinic acid capacity
Governmental Direction
China launches three-year action plan for non-grain bio-based material innovative development
Market Analysis
Hisun Biomaterials reports growths in 2022 results
Updates of China's PLA projects in Q1
Bluepha: PHA product debut and new strategic partnership with Shanghai DODGEN
Company Dynamics
Huafon Group's 30,000 t/a bio-based PTT project to be approved
Zhongke Biotech's 50,000 t/a diacid and 50,000 t/a bio-based materials project approved
Xinxiang Chemical ramping up biomass-derived cellulose fibre capacity
Update on Golden Far East's 100,000 t/a lactide/PLA and 200,000 t/a LA project
Two bio-based succinic acid projects accepted with EI reports
SynMetabio raises over RMB10 million funding
Price Update
News in Brief
First disclosure of Sichuan Siliya's cellulose fibre project
Juyuan New Material to build 50,000 t/a PLA capacity
Cathay Biotech delays 20,000 t/a long-chain polyamide operation start
Eyougene Biotech secures RMB100 million+ Series B financing
Zhongke Juhe's high-end bio-based polyester pilot project approved
HANVO Safety and BUCT form strategic cooperative partnership
Land Biological to upgrade succinic acid capacity
