
CLA Advises on Sale of PM Mold Company to NewCo Plastics - injection molding bus
Author:gly Date: 2024-09-30
“According to SNS Insider, The Biodegradable Medical Plastics Market Size was valued at USD 1.7 billion in 2023 and is expected to reach USD 4.5 billion by 2032 and grow at a CAGR of 11.5% over the forecast period 2024-2032.”
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
The main companies involved in the biodegradable medical plastics market are BASF, NatureWorks LLC, and Total Corbion PLA. In particular, during August 2022, BASF signed a memorandum of understanding with one of the largest healthcare providers for the development of innovative medical packaging made of biodegradable plastics that further ensures sustainability for the healthcare industry. In January 2024, Total Corbion PLA announces an expansion in PLA manufacturing capacity owing to swelling demand featuring an eco-friendly nature for medical devices and packaging. These strategic moves reflect the direction of the industry in terms of sustainability, as the companies are indeed investing much in research and development to enhance performance and ecological services associated with biodegradable materials.
On March 22nd, Milacron’s India manufacturing team presented its 12,501st India manufactured machine. The Milacron Magna Toggle 450 ton 2K machine was handed over to Vagish Dixit – Managing Director, Alpla India Company, a manufacturer of caps and closures and affiliate of Austria’s Alpla Werke Alwin Lehner GmbH & Co KG.
In 2023, the Polylactic Acid (PLA) segment dominated in the biodegradable medical plastics market, holding a share of around 45%. Such high dominance is mainly due to the fact that it finds very extensive usage because of the desirable properties of high strength and biocompatibility, quite ideal in medical applications such as surgical implants and drug delivery systems. For instance, NatureWorks LLC, one of the major PLA producers, announced a considerable increase in PLA production to satisfy the growing demand for PLA-based medical products, thus underlining the paramount place of the segment in the market. Besides, PLA has greater cost efficiency and processability compared to other types of biodegradable plastics, such as PHA and PCL, which enables it to be considered the leading force in the market.
In other news, Milacron’s Mold-Masters product brand recently celebrated its 10th anniversary. Mold-Masters started its Indian operations in 2007 as an engineering center along with a dedicated sales and service team to provide better support to domestic market. The India hot runner operations expanded in 2010 adding a manufacturing plant to become the first global hot runner brand to do so in India. In recent years the Coimbatore, India facility has undergone a number of expansions to better serve the rapidly growing market demands in India and grown over 350 employees. The anniversary was celebrated with a special customer event.
Further, at Plastivision 2017 in January Milacron Extrusion launched the TC Conical Twin Screw extrusion system in the Indian market. The TC’s customized screw designs are matched specifically to the customer process requirements for optimal performance. The TC uses advanced materials of construction, including tungsten coated screws and tungsten clad barrels for maximum wear protection and the lowest possible life cycle costs. Milacron’s breadth of extrusion offerings is all encompassing, from extruders, to new and rebuilt extrusion barrels and screws, to pipe heads, dies and downstream equipment, providing powerful, reliable solutions that meet customers’ unique needs. Milacron’s extrusion solutions are highly customizable and increase productivity, output and accuracy, while reducing costs.
Biodegradable medical plastics is a high-growth market owing to growing environmental awareness and the eventual placing of stringent regulations on conventional plastics. Considering the growing need of health-care systems to have a reduced ecological footprint, biodegradable medical plastics would certainly facilitate natural decomposition and result in lesser landfills of waste products. In the last few years, significant strides have been achieved in this field. An example is the innovation announced in March 2023 when scientists produced a bio-based plastic completely biodegradable and without harmful microplastics (ABC News). This will alter medical packaging and disposable medical devices because this product offers an environmentally friendly substitute to conventional plastics.
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Milacron CEO Tom Goeke stated, “India is a vital market for Milacron and it continues to impress. Milacron places great importance in the Indian market and we’re uniquely positioned to serve it in ways our competition simply cannot with our ability to deliver the entire spectrum of services to the plastics industry.”
During the celebration at the Ahmedabad facility, Vagish Dixit stated, “Milacron is a progressive organization with innovation in engineering design and manufacturing. We’re extremely pleased with our partnership with Milacron in India.” Dixit added, “Milacron has fostered our relationship over the last 17 years, when we bought our first injection molding machine. The enthusiasm towards their work and commitment towards customers are the key strengths behind the consistent success of Milacron. The technologies Milacron provides us increase our productivity and the competitiveness of our products.”
Stephen has been with PlasticsToday and its preceding publications Modern Plastics and Injection Molding since 1992, throughout this time based in the Asia Pacific region, including stints in Japan, Australia, and his current location Singapore. His current beat focuses on automotive. Stephen is an avid folding bicycle rider, often taking his bike on overseas business trips, and is a proud dachshund owner.
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In 2023, the North American region dominated the market for biodegradable medical plastics, with a huge market share of about 40%. This is majorly because of the massive advanced healthcare infrastructure in the region and their strict environmental regulations. For example, in March 2024, several new biodegradable plastic products for medical use were approved by the U.S. Food and Drug Administration, indicating the region's effort to practice sustainable healthcare solutions to serve its citizens. Moreover, companies like NatureWorks LLC have moderately sized manufacturing plants located within North America that work toward strengthening the great status the region holds in the market.
Milacron Holdings Corp. marked a milestone recently with the shipment of the 12,501st injection molding machine from its Ahmedabad, India manufacturing facility.
The biodegradable medical plastics market is witnessing strong growth due to regulatory pressures and material science development. Greater awareness of environmental issues and much closer control of traditional plastics will be the driver for replacement with sustainable solutions. This new development has considerably enhanced the performance and suitability of biodegradable plastics for a wide range of medical applications, making them a very viable alternative to conventional materials. Sustainability being the key issue to healthcare providers and manufacturers, continuous development of new applications and high-performance products will lead to growth in this market. Biodegradable plastics are assured of great prospects with increasing environmental friendliness in health care.
Increasing investments are also being portrayed by both government and private sectors in the market. For example, in September 2023, the Australian government announced a significant grant toward researching medical biodegradable plastics-a sign of underpinning commitment to sustainable health solutions. This financial backing is likely to accelerate the development and adoption of biodegradable plastics in the medical area.
The trend in the biodegradable medical plastics market is for even more advanced technologies in materials to be integrated along with friendlier ecological practices. Companies are now interested in developing high-performance, biodegradable plastics with superior mechanical properties and speedy degradation rates so that tight healthcare requirements could be satisfied. Such innovations in composite materials provide durability and functionality improvements in medical devices and packaging. Also, the push toward a circular economy is pressuring plastics that are biodegradable and can easily enter recycle streams or compost heaps to align with global sustainability goals. The trend is consistent with broader movement across the healthcare industry to be more sustainable and environmentally accountable.
Milacron India’s Ahmedabad facility completed its most recent expansion in 2016. The expansion allowed Milacron to increase its annual output of 1,500 injection and blow molding machines to 2,100 machines per annum, a 40% increase.
During the celebration, Milacron India’s Managing Director, Shirish Divigi, thanked Alpla India for their business and loyalty over the almost two-decade partnership. “As India’s plastics industry continues to grow, Milacron’s Indian operations will continue to excel and offer the industry’s most complete plastics offering.” Divigi added, “The entire Milacron organization is focused on a customer first mentality. We continue to add new value added products and services to better serve our customers in India and across the world. Our customers feel fully supported and connected with our team.”
Established in 1995, the Indian plant offers a full range of injection moulding machines from 50-ton to 3200-ton clamping force, with capacity to manufacture 2000 machines per annum.
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