The prices of CoQ10 in the US market have been rising as the second week of the year begins. This has been attributed by the rising interest consumers on health and wellness as the year begins due to New Year resolutions and health maintenance, thereby increasing the demand for dietary supplement manufacturers, especially those dealing with cardiovascular and energy supplements. The rising age demographics have also increased the demand for CoQ10, as well as the pharmaceutical industry due to increased demand for products dealing with the treatment of side effects of statins, thereby increasing competition for the supply of the product. The rise in the cost of production, particularly because of the cost of energy, labor, and fermentation, has led to an increase in the price of the products being supplied. The dependency on imports from Asia makes the US market face challenges like logistics and transportation costs, thereby increasing the price of landing. Secondly, the problem of CoQ10 inventory and regulatory problems makes it difficult to penetrate the market. In general, demand, inflexibility, and costs have continued to fuel the US CoQ10 market with a positive price environment.
Selenis has effectively manufactured recycled PET chips using terephthalic acid sourced from Circ®, a textile-to-textile recycler based in Virginia. The chip production took place through a series of batches at Selenis' pilot plant in San-Giorgio, Italy. By utilizing inputs recovered from polycotton textile waste, Selenis has created high-quality PET chip, which has been further processed into DTY yarn. This yarn will play a crucial role in product development as Circ prepares for additional capsule launches. Selenis is leveraging the success of this initial collaboration phase and is committed to advancing towards an offtake partnership to support Circ's inaugural industrial facility.
Eduardo Santos, Head of Corporate Strategy at Selenis, remarked that the monomer synthesis showed a performance comparable to virgin terephthalic acid. He expressed optimism about the consistent quality of Circ's monomer output and anticipated future commercial success. Santos pointed out that the Circ partnership complements Selenis's existing mission and goals for a more sustainable textile industry. He further stated their anticipation of expanding upon this collaboration and providing support for Circ's forthcoming commercial production trials.
