Bio-Based Chemical Intermediates More Than Double to 4.9 Million MT While Specialty Chemicals Expand Six-Fold to 590,000 MT in 2017, According to Lux Research
BOSTON, MA--(Marketwired - Feb 19, 2014) - Bio-based material and chemical (BBMC) technologies have reached an inflection point with companies scaling to commercial production levels and growing revenues, according to Lux Research. The leading growth category will be intermediate chemicals like adipic acid and lactic acid, with capacity growing from 2.0 million metric tons (MT) to 4.9 million MT in 2017, while the capacity of bio-derived polymers -- currently at 1.1 million MT -- will grow 18% per year through 2017.
"The basic science of bio-based materials and chemicals has advanced to the point that dozens of chemicals can now be produced from multiple feedstocks, at costs that are competitive with petroleum, at least in theory and at scale," said Julia Allen, Lux Research Analyst and the lead author of the report titled, "Cultivating Capacity for Bio-based Materials and Chemicals through 2017." "As a result, bio-based material and chemical manufacturers continue to expand and diversify into new feedstock types, product types, and geographical areas," she added.
Lux Research analysts analyzed 229 sites from 217 companies, and 133 chemicals and classes like succinic acid and polyols in seven main product categories and 22 subcategories. Among their findings:
The report, titled "Cultivating Capacity for Bio-based Materials and Chemicals through 2017," is part of the Lux Research Bio-based Materials and Chemicals Intelligence service.
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Carole Jacques
Lux Research, Inc.
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carole.jacques@luxresearchinc.com