中国生物基材料季报

Welcome to the Bio-based Material Quarterly Newsletter Q3 2022.

Policy

China's MIIT and other departments jointly issued an implementation plan for the high-quality development for raw materials industry, highlighting bio-based materials in Sept.

Market dynamics & company performance

In H1 2022, Kingfa reported tumbling net profit, in comparison with many other players like Jindan Technology, Zhongke Biotech, Cathay Biotech, COFCO Biotech which have performed well and continued to make progress in their biodegradable material projects. Hisun Biomaterials went public on Shanghai's STAR Market in Aug.

Multiply PLA-related projects are brought up in China, including BBCA Biochemical's 5,000 t/a D-lactic acid and 3,000 t/a PLA industrialisation projects, Zhongke Baichuang Environmental Biotechnology (Guantao) Co., Ltd.'s 300,000 t/a PLA project, Huakang Pharma's 2 million t/a corn processing project (including products of LA and PLA), along with some seeing further development, i.e. Jiangxi Keyuan's and Langjing New Material's PLA projects.

There are updates on other bio-based material projects, including the bio-based new material projects in Zhangjiagang Jiutai, Jinzhu New Material and Anhui Huizhu, the fibre composite new material project in Yibin Grace Hygienic Materials Technology Co., Ltd., the starch-based biodegradable material project in Zhongshan Co-polymer. Two new bio-based fibre projects were firstly unveiled by Youxian Technology (Dandong) Co., Ltd. and Anhui HengRun Chemical Fiber Co., Ltd.; Weigou Workshop plans to build China's biggest 30,000 t/a PHA production base; Huaheng Biotech pushes SA and PDO industrialisation; CellUranics raised tens of millions RMB in angel financing; GS Biotech kicked off construction of bio-based degradable materials (HMF, FDCA, and more) base project; Puyang Baiaomaisi announced completion of its 50 t/a FDCA pilot-scale equipment installation.

Price

In the third quarter of 2022, PLA prices rose slightly but sustaining at an overall low level. PHA prices were levelling off.

The USD/CNY exchange rate in this newsletter is USD1.00=CNY6.8821 on 1 Sept., 2022, sourced from the People's Bank of China. Unless otherwise specified, all the prices mentioned in this newsletter will include the VAT.