Balrampur Chini Mills, a prominent sugar manufacturer in India, has announced plans to establish a bioplastic production facility with an investment of $23 K, set to be operational by 2026.
Executive Director Avantika Saraogi indicated that the new bioplastic project aims to comprise more than 50% of the company’s product mix by the financial year 2027-28. This strategic move positions Balrampur Chini Mills to capitalize on the growing global demand for sustainable products as industries seek alternatives to traditional plastics.
The initiative comes at a critical time, considering India’s significant reliance on plastics, especially single-use varieties. Highlighting the project’s relevance, Saraogi noted the potential for bioplastics to substitute a considerable portion of the country’s annual single-use plastic consumption.
Currently, India imports over four million tonnes of plastics each year, amid increasing governmental efforts to phase out 19 categories of single-use plastics. Balrampur Chini Mills plans to address this demand with an initial production capacity of 75,000 tonnes of bioplastics, reflecting the company’s commitment to sustainability and the utilization of the nation’s abundant biomass resources.
Bioplastics currently represent just 1% of the total plastic market globally. However, with a growing focus on reducing carbon emissions and achieving net-zero targets, the sector presents substantial opportunities for expansion. Even a modest increase in bioplastics’ market share to 5% could signify a significant advancement towards sustainable practices in the industry.