Dragon International Group has launched two new packaging products developed through the use of nanotechnologies that could potentially replace the currently used packaging on the market such as plastic and PVC.
The Chinese pharmaceutical packaging industry has grown approximately $2bn (€1.6bn) in annual sales with more than ten per cent annual growth rate and 95 per cent of pharmaceutical plastic packaging are plastic bottles, blister packaging, strip, and bag.
These types of packaging have the disadvantage of being bad for the environment as they can't be recycled, however, according to industry data, the demand of PVDC and PVC/ PVDC, PVC/PE compound materials in the Chinese marketplace is high - more than 60,000 tons per year in 2005.
Dragon spotted the opportunity and designed this new packaging solution that could, it claims, substitute PVDC/PVC tablet and capsule solutions that are currently used, but without the drawbacks as the newly developed products include the advantages of being recyclable and a reduction in waste emissions during manufacturing.
The firm also claims they have better performance isolation.
The emerging nanofilm market has primarily been entered around the packaging industries, used mainly for large infusion bags, frozen and fast food, but according to Dragon it also has the potential to reach the pharmaceutical market.
"We believe our newly developed products have much better features than the currently used products in the pharmaceutical marketplace," said David Wu, CEO and chairman of Dragon International Group.
"With adequate pricing, we believe our newly developed products will dominate this market."
In a sign of serious commitment to its new product line, Dragon has also announced its plan to build a new manufacturing facility to ensure their production.
With a production capability of 3,000 tons of high isolation, alto-extruded, multilayer film and sheet packaging material in the pipeline, Dragon said it will allow it to drive revenues higher in the next few years as margins would substantially increase over time.
"We forecast the three production lines can generate $100m to $125m in annual sales with $25m to $31m in net income within five years upon the completion of the manufacturing facilities."