Steady sales for lactic acid and biopolymers over the next decade will act as stable drivers for the bio-based chemicals market through to 2021. The overall growth of the market, however, greatly depends on the continued adoption of biodiesel to provide steady glycerin production and the market growth of new glycerin-based intermediate chemicals. This research expects the bio-based chemicals market to grow to $12.2 billion by 2021, accounting for 25.4 billion pounds of bio-based chemical production at the end of the decade.
The bio-based chemicals market has continued steady and solid growth in the past two years, helped along by stabilization in glycerin prices to achieve a market of $3.6 billion in 2011. Glycerin and lactic acid accounted for just over two-thirds of the bio-based chemical market by value in 2011. However, by 2021 this market share will shrink to 53% as the emerging markets for bio-based polyethylene (PE) and epichlorohydrin (ECH) achieve 10-fold growth through the decade.
… Full Text: www.prnewswire.com/news-releases/bio-based-chemicals-market-to-grow-to-122-billion-by-2021-says-2nd-edition-market-research-report-on-the-world-market-for-bio-based-chemicals-168735676.html
Tags: biodiesel, propylene glycol (PG), ECH, methanol, biopolymers, bio-based chemical market, bioplastics, surfactants, solvents, adhesives
Source: PRNewswire, 2012-09-06.