Core Viewpoint - Suzhou Yike Biotechnology Co., Ltd. is the world's first company to possess PCT patents for producing PHA biodegradable plastic resins, focusing on high-performance eco-friendly materials for food and medical packaging [1][3]. Group 1: Company Overview - Suzhou Yike Biotechnology Co., Ltd. held a project signing ceremony on June 12 and obtained its business license on the same day [1]. - The company aims to establish a research and development center and production base in Taihu New City, targeting an annual production capacity of 10,000 tons, with a phased construction plan [3]. Group 2: Market Potential - The global market for PHA microspheres and PHA bioplastics was valued at $18.8 million in 2023 and is projected to reach $36.7 million by 2030, with a compound annual growth rate (CAGR) of 10.1% from 2024 to 2030 [3]. - The top five global PHA manufacturers hold over 85% of the market share, indicating a concentrated industry [3]. Group 3: Industry Challenges - PHA materials have advantages in biodegradability and biocompatibility over traditional plastics, but their production costs remain higher, with raw material costs accounting for 60% of expenses [3]. - The ex-factory price of PHA products is approximately 40,000 yuan per ton, which limits industrial production and application [3]. Group 4: Future Outlook - The company plans to drive innovation in technology and aims to become a leading player in the bioplastics industry with a global presence [3]. - The industry is expected to see increased interest as more companies accelerate their efforts to develop low-cost raw materials and improve production efficiency [4].