Renewable plastic solutions – Jiangsu Weiming New Materials invests 10.8 billion yuan to build nylon 6, 66 project 06-04-2024
Renewable plastic solutions
Bioplastics manufacturer Gaia Biomaterials secure $5 million rights issue
Gaia Biomaterials, a Swedish bioplastics manufacturer, recently concluded a successful $5 million rights issue, supported by the Swedish state-owned greentech venture capital fund Almi Invest Greentech and various private investors. The funds will facilitate the expansion of market reach into the United States, India, and other selected markets. Gaia’s flagship product, Biodolomer, crafted from limestone, offers a home-compostable alternative to fossil-based plastics, promising minimal carbon footprint and no micro-plastics post-composting. Renewable plastic solutions
CEO Peter Stenström highlights their revolutionary technology and production capacity, emphasizing the need for market expansion. The investment will be directed towards bolstering the global network of commercial agents and providing them with necessary training and support.
Almi Invest Greentech, a significant investor, underscores Gaia’s potential for both commercial success and environmental impact.
Gaia’s materials have already found applications in various sectors, including Formula 1 events in Abu Dhabi and everyday disposable products such as health-care items, food containers, and planting pots. Renewable plastic solutions
Stenström notes the versatility of their material across different production techniques without requiring machinery alterations, enabling significant reductions in CO2 emissions. Gaia currently boasts a production capacity scalable up to 50,000 tons/year, aiming to meet the surging demand for sustainable alternatives globally. The company is actively expanding its network of commercial agents to cater to the growing market demand for plastic replacements. Stenström notes the versatility of their material across different production techniques without requiring machinery alterations, enabling significant reductions in CO2 emissions. Gaia currently boasts a production capacity scalable up to 50,000 tons/year, aiming to meet the surging demand for sustainable alternatives globally. The company is actively expanding its network of commercial agents to cater to the growing market demand for plastic replacements.
Introducing the batteries of the future: highly durable and environmentally friendly
Cobalt, a significant cost and environmental concern in battery production, poses challenges for electric vehicles. Yet, MIT researchers have developed a solution: a lithium-ion battery with an organic cathode, sidestepping the need for cobalt or nickel.
Mircea Dincă, an energy professor at MIT, believes this innovation holds immense promise. Not only does it perform exceptionally well, but it also addresses cost, extraction difficulties, and environmental issues associated with current battery metals.
In a recent study, researchers demonstrated that this organic cathode material rivals cobalt-containing batteries in conductivity and storage capacity. Moreover, it boasts faster recharging capabilities, all at a significantly reduced cost. Renewable plastic solutions
This breakthrough heralds a new era for electric vehicles, offering a sustainable alternative to traditional batteries. With superior performance and reduced environmental impact, these batteries pave the way for a cleaner, greener future on the roads.
UFlex, an Indian leader in flexible packaging, embarks on a journey of expansion and innovation
Commencing commercial production of poly-condensed polyester chips in Panipat, India, and CPP packaging film in Russia, marks significant milestones.
The company’s Panipat facility, with an annual capacity of 168,000 metric tons, focuses on poly-condensed polyester chips production, essential for BOPET packaging films. Besides meeting in-house demands, it serves third-party clients, fostering India’s packaging film industry. Renewable plastic solutions
This expansion supplements UFlex’s existing facilities in Noida, NCR, and Dharwad, Karnataka, enhancing its nationwide service capabilities.
Simultaneously, in Russia, UFlex’s subsidiary, Flex Films Rus, inaugurates a 6.5-meter-wide CPP film line with an 18,000 MTPA capacity. This addition complements the existing BOPET film and metallizer lines, strengthening UFlex’s global presence.
Ashok Chaturvedi, UFlex’s Chairman and Managing Director, expressed enthusiasm, emphasizing the company’s commitment to meeting industry demands for reliability, speed, and quality. Renewable plastic solutions
Leveraging vertical integration, advanced technology, and sustainable practices, UFlex aims to deliver innovative solutions, tailored to evolving market needs.
In conclusion, UFlex’s expansion signifies its dedication to serving customers worldwide with superior packaging solutions, reflecting its ethos of quality, innovation, and sustainability. Stenström notes the versatility of their material across different production techniques without requiring machinery alterations, enabling significant reductions in CO2 emissions. Gaia currently boasts a production capacity scalable up to 50,000 tons/year, aiming to meet the surging demand for sustainable alternatives globally. The company is actively expanding its network of commercial agents to cater to the growing market demand for plastic replacements.
Jiangsu Weiming New Materials invests 10.8 billion yuan to build nylon 6, 66 project
Jiangsu Weiming New Materials is investing 10.8 billion yuan into a nylon project.
The project, located in Rudong, Jiangsu, includes an annual production capacity of 200,000 tons of nylon 6, 60,000 tons of nylon 66, and 10,000 tons of nylon 666, along with supporting facilities. Renewable plastic solutions
Divided into two phases, the project aims to produce 340,000 tons/year of caprolactam, 360,000 tons/year of hydrogen peroxide, 320,000 tons/year of cyclohexanone, 25,000 Nm³/h of natural gas hydrogen, 30,000 tons/year of hexanediamine, and 0.4 million tons/year of para-tert-butylphenol.
Of these, 200,000 tons/year of nylon 6, 60,000 tons/year of nylon 66, 10,000 tons/year of nylon 666, and 0.4 million tons/year of para-tert-butylphenol are designated for external sales. Renewable plastic solutions
The company, founded in May 2013, is a subsidiary of Taiwan China Petrochemical Corporation and Hong Kong Union Chemicals Limited.
Haitian’s trajectory in 2023 shows signs of improvement, though it falls short of its peak performance in 2021
The Chinese press manufacturer witnessed a 6.2% rise in turnover to 13 billion RMB, approximately $1.84 billion, with exports totaling $726 million, up 17% from the previous year. Despite this rebound, it lags behind the record-breaking sales of 2021 when turnover reached 16 billion RMB, and deliveries amounted to 56 thousand units, compared to 38 thousand in 2023. Renewable plastic solutions
The previous year saw a 5.7% growth in press turnover to 12.4 billion RMB, accompanied by a 15.7% surge in spare parts and services sales, reaching 622.5 million. This performance is commendable amid a global economic landscape characterized by uncertainty and inflationary pressures.
In the domestic market, Haitian faced challenges such as slowed export growth and decreased investments, although conditions improved in the latter half of the year. Reduced raw material costs positively impacted margins, leading to a 10% increase in net profit to RMB 2.49 billion. Renewable plastic solutions
Looking ahead to 2024, Haitian aims to prioritize its fifth-generation machines introduced in August 2023 and enhance its service offerings. It has designated 2024 as the “Year of Quality and Service,” intending to elevate quality control, standardize procedures, and provide proactive pre-sales and post-sales services to enhance customer satisfaction.
Monforts coaTTex debut at Techtextil 2024
NPE 2024 – Otto Hofstetter AG: Discover Swiss excellence in PET preform production
Experience Swiss excellence in PET preform production at NPE 2024 with Otto Hofstetter AG! For the first time, our renowned Swiss craftsmanship will be on display at our booth, showcasing our wide array of high-performance injection molds. From 2 to 192 cavities, our molds cater to both top-entry and side-entry systems. Explore precision molds for medical applications, thin-wall packaging, cartridges, and in-mold labeling solutions.
As pioneers in the field, Otto Hofstetter AG has been setting industry standards for over four decades. Our expertise spans every stage of PET preform processes, from conception to final product quality assurance. Renewable plastic solutions
Our dedicated team of mold specialists ensures an efficient project workflow, delivering high-quality, cost-effective PET preforms. Join us in Orlando and discover why our Swiss-engineered molds are trusted by industry professionals worldwide.
Don’t miss this opportunity to witness Swiss innovation firsthand at NPE 2024. Visit Otto Hofstetter AG’s booth and unlock the potential for significant savings in high-volume production. Experience excellence, experience Otto Hofstetter AG.
Price Volatility in European Polyamide 6 Market Linked to Raw Material Shortages and Automotive Sector Growth
The price of Polyamide 6 in the European market witnessed an initial rise during the first half of March, followed by stabilization in the latter half of the month. This price movement was primarily driven by a combination of factors, including a shortage of feedstock Caprolactam, which is a key raw material for Polyamide 6 production. Additionally, there were increases in raw material prices across the industry, further influencing the cost of Polyamide 6. Another contributing factor was the improvement observed in the downstream automotive market, which led to an uptick in demand for Polyamide 6. As a ripple effect, the price of Polyamide GF 6 settled at USD 3928/MT on a DDP Hamburg basis at the end of the first quarter. Renewable plastic solutions
In Germany, the market for Benzene has experienced a notable upswing in prices, primarily attributed to heightened demand from industries reliant on styrene, phenol, and other solvent applications. Concurrently, rising domestic production costs have further contributed to the price surge. The effects of these developments have reverberated across the European market, notably influencing the Polyamide 6 sector.
Renewable plastic solutions