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    Home > Coatings News > Paints and Coatings Market > Chemical giants compete for renewable chemicals

    Chemical giants compete for renewable chemicals

    • Last Update: 2019-07-04
    • Source: Internet
    • Author: User
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    The latest data released by IHS Markit shows that in 2018, the global production capacity of chemicals (excluding bio plastics and bio fuels such as ethanol, bio diesel and renewable diesel) using renewable resources such as agricultural waste is about 40 million tons / year The largest market share of renewable chemicals in the world is fatty acids, accounting for 31%; MSG, accounting for 12%; glycerol and sorbitol, accounting for 10% BCC research company of the United States forecasts that the global renewable chemicals market will grow from $51.7 billion in 2015 to $85.6 billion in 2020, with a compound annual growth rate of 10.6% The global biotechnology industry organization (bio), headquartered in Washington, D.C., said that the growth of the bio based economy in the 21st century would benefit from the support of governments' policies According to bio, the renewable fuel standard (RFs) issued by the US Environmental Protection Agency (EPA) not only stimulates the innovation of biofuels, but also opens the discussion and policy-making of renewable chemicals and bio based products The 2014 new agricultural act of the United States extended the loan guarantee qualification to producers of renewable chemicals and bio based products through the bio refinery, renewable chemicals and bio based product manufacturing assistance program Since 2010, venture capitalists have invested $5.8 billion in start-ups in bio based materials and renewable chemicals, according to lux research From 2010 to 2015, venture capitalists focused on simply replacing chemicals derived from fossil fuels, but from 2016, their focus shifted to disruptive synthetic biology and transformation technologies Demand growth driven by multiple factors demand for bio based materials is driven by many factors, including sustainable development initiatives of enterprises, consumers' interest in green and safe products, performance advantages over alternative products of petroleum and fossil fuels, etc Mary Firth, director of renewable energy and nutrition, IHS Markit Marifaith Hackett said that the bio based chemicals that will eventually succeed in business will meet one or more of these criteria Examples of business sustainability initiatives include consumer goods companies such as Coca Cola, Danone, Nestle and Suntory turning to products such as bio pet Arnold, consultant, lux research "We have seen an increasing demand for renewable chemicals from polymer end users such as IKEA, Nike and Coca Cola," said Arnold BOS They are not only doing this to improve their image, they are also preparing for the future, and they hope to hedge against rising oil prices and increase the selection of products based on renewable energy " In addition to the use of biological raw materials, the performance of simple alternative renewable chemicals such as methanol and ethylene is exactly the same as that of petrochemical products They can be used as raw materials for existing chemical processes According to IHS Markit, this simple alternative renewable chemical is in the early stages of its life cycle, and its bio based production capacity is usually smaller than the total production capacity In contrast, in mature products such as detergents, alcohols, food Acidifiers and glycerin, bio based production capacity is dominant, for example, about 97% of glycerin is a by-product of biodiesel Clariant is increasing the number of renewable chemicals in its product portfolio These renewable chemicals are made from renewable raw materials from Neste Nexteer fully uses the used edible oil and other agricultural wastes as raw materials to produce chemical monomers Avantium, headquartered in Amsterdam, the Netherlands, said that the chemical industry is experiencing a transition from using the carbon contained in underground oil, coal and natural gas to using the carbon contained in plants, man-made carbon and atmospheric carbon dioxide on the ground, as well as a transition to a circular economy The company is using catalytic technology to convert sugars contained in plants into 2,5-furandioic acid and polyvinylfurandioic acid (PEF) PEF is a kind of 100% recyclable plastic, and its performance is superior to the petroleum based packaging materials widely used at present, such as pet Compared with pet, PEF has stronger performance, better heat resistance, better gas barrier performance, and can be biodegraded in several years, while the degradation of pet takes hundreds of years Avantium said that PEF's market potential is estimated to exceed 200 billion euros / year (US $244 billion / year), PEF's packaging market potential is estimated to exceed 150 billion dollars / year, and textile market potential is estimated to exceed 40 billion dollars / year Avantium is planning to build a new plant with an annual output of 5000 tons of PEF, which is expected to be completed and put into operation in 2023.
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