In recent years, starch has found various applications in different industries such as textiles, paper and printing, Plywood, Battery, Laundry, Paint, Chemical, Pharmaceutical, and Food. Starch has majorly more than 100 known derivatives. These include high Fructose syrup, D-Glucose, Sorbitol, Dextrin, Alcohol, Acetone, Modified Aldehyde, Maltose, Alkyd resins, Starch esters, Starch ethers, Phenolic resins, Emulsion stabilizers, and a host of others. Whereas, the starch adhesives are available in different forms that include pure liquid solution, suspension, dispersion (including emulsion), paste, fusible solid, and fusible film and are used to increase the bond strength and flexibility as well as in improving the stability of changes in the atmospheric moisture in many chemical solutions.
To start the manufacturing business you should know how much start-up capital you may need to invest. It might require you to apply for a loan from any of the financial institutions. You will also have to apply for a business loan from any of the financial institutions. One also needs to submit the documents such as your business plans, bank statements, and credit history from the present up to the last two-three years back, etc. These steps are important for your loan to be approved.
· Raw Materials and Machinery
The starch raw materials are majorly locally sourced and these include Cassava, Ammonium Salt, Alkali Chemical Glue Adjuvant, and Water. The plant is made from the steam boiler, graters, specific mixers, liquid pumps, filters, and dryers, etc. The other ancillary utilities such as water and electricity are statutory.
· Focus On Distribution/marketing
The predicted plant can set up its own sales/marketing team to be engaged in a sustained one-on-one sales drive. Advertising options could depend on the usage of flyers and referrals and delivery vehicles.
· Location- An Important Factor
Location is an important factor in any business. It is important to be accessible to your possible clients. Look for the place where you can start your manufacturing business. If you have a property that you can convert into a place for the production of your business then it can also work to your advantage, if not you will be required to see a larger place so that it can accommodate all the machines and equipment you need.
· Demand of starch
The demand for starch/adhesives is very high and also far from being satisfied. The domestic market has a very bright future and the current shortfall in domestic supply is evidenced in the large import figures that are standing against this class of products in Nigeria’s import bills annually.
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Future Market Review of Starch Market
Globally, the starch market size is expected to be valued at USD 3.1billion in the year 2020 and is expected to increase to reach USD 14.9 billion by the year 2025, recording a CAGR of 2.7%. It is seeing significant growth because of increasing incorporation in a wide range of foods and cost-effectiveness offered by them, along with the better functionalities they provide in comparison to native starch. The increasing demand for processed and convenience food among consumers is creating a demand for modified starch. With the advancement of new technologies and innovative experiments in the food and beverage sector, the incorporation of modified starch across various industries is increasing. Asia Pacific segment is going to dominate the market due to its high production of processed food.
Conclusion
Adhesives – Manufacturing Plant, Detailed Project Report, Profile, Business Plan, Industry Trends, Market Research, Survey, Manufacturing Process, Machinery, Raw Materials, Feasibility Study, Investment Opportunities, Cost And Revenue, Plant Economics is the project report by NPCS. The scope of this and all other project reports provided by NPCS is assessing market potential, negotiating with collaborators, investment decision making, corporate diversification planning, etc. in a very planned manner by formulating detailed manufacturing techniques and forecasting financial aspects by estimating the cost of raw material, formulating the cash flow statement, projecting the balance sheet, etc.
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