Bio-based Material China Quarterly Report

Welcome to the Bio-based Material Quarterly Newsletter Q3 2021.

Policy

To further strengthen the treatment of the whole plastic pollution chain, NDRC and MEE jointly released an Action Plan for Plastic Pollution Control during the 14th Five-Year Plan Period. Meanwhile, bio-based materials would be included as a key task in planning the raw material industry during the same period and the development of bio-based new materials would be promoted on 5 aspects.

Market dynamics

In response to the national environmental demand, many domestic companies have strengthened the layout of their PLA production capacity. In Q3, four firms - Pulisi Biotechnology, Golden Far East, Jiutai Group, and Shandong Tongbang — added new PLA projects. COFCO Yushu and Hefeng Biotechnology completed publicity of the EIA report of their 1,000 t/a PHA project. Moreover, Shandong Siyuan and NSWRC were also actively promoting their bio-based project and 50,000 t/a DDDA project.  

Enterprise

• eSUN, Kingfa, Cathay Biotech, and COFCO Tech all reported significant revenue growth In H1 2021, and were proactively expanding their bio-based material production capacity
• Hisun Biomaterials and BBCA Group were enlarging their PLA capacity to grow their market shares
• Bluepha secured a series B2 financing round and invested in the building of a PHA project
• Zhongneng Group and Shanxi Jinghutong continued to progress their joint bio-based new materials industrial park project
• Guoli Science and Technology and Levima were distributing their new bio-based material business

Price

In Q3 2021, China's PLA price decreased while the PHA price remained stable.

The USD/CNY exchange rate in this newsletter is USD1.00=CNY6.4680 on 1 Sept., 2021, sourced from the People's Bank of China. All the prices mentioned in this newsletter will include the VAT, unless otherwise specified.