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Core Viewpoint - The collaboration between Shanquan Group and Qingdao University of Science and Technology aims to establish a joint laboratory for bio-based rubber chemicals, focusing on the development of high-value bio-based materials from agricultural waste, particularly lignin, to meet the growing demand for sustainable rubber additives in the industry [3][5][12]. Company Developments - Shanquan Group, a leading company in the bio-based materials sector with over 10 billion RMB in revenue, is investing over 2 billion RMB in a lignin refining project in Daqing, which will produce high-value products including lignin for rubber chemicals [5][12]. - Qingdao University of Science and Technology, known as the "Huangpu Military Academy of China's Rubber Industry," will contribute its expertise in polymer science to this collaboration, enhancing the research and development of bio-based rubber additives [7][8]. Industry Insights - The rubber additives market in China is projected to reach a production volume of 1.5879 million tons and a market value of 31.6 billion RMB in 2024, with China accounting for 78% of the global production [10]. - The bio-based rubber additives, particularly those derived from lignin, are expected to tap into a market worth over 30 billion RMB, with the potential to grow to over 37 billion RMB by 2029 [12][14]. Technological Focus - The collaboration will focus on four key areas: molecular design to optimize lignin's compatibility with rubber, green synthesis processes to reduce environmental impact, ensuring high performance of bio-based additives, and application technology tailored for specific rubber products [16][18]. - The project aims to create a complete technology chain from raw material processing to rubber chemical production, positioning Shanquan Group to leverage its raw material advantages and establish a significant presence in the bio-based rubber chemicals market [18].