Chemical majors are collaborating with biotechnology companies to develop chemicals derived from renewable feedstocks. Most activity is still at the development stage with only a small number of chemicals, such as 1,3-propanediol and lactic acid, being produced at industrial scale. Biobased succinic acid is the latest chemical from renewable feedstocks that is being produced on a larger scale.
The global market for renewable chemicals is anticipated to grow from $3.6 billion today to over $12 billion by 2020, according to Rennovia (Menlo Park, CA), which is targeting production of a suite of chemical products from renewable feedstocks.
Tags: biobased economy, sustainability, customer demand, lignocellulosics, statistical undervaluation, Basfi succiniproducens, fermentation, butadiene, bioBDO
Source: IHS Chemical Week, 2013-08-09.