Southeast Asia Promising Hub for Emerging Biobased Chemicals
BOSTON – Driven by large and widespread feedstocks and government incentives, Southeast Asia is positioned to be a hub for biobased materials and chemicals (BBMC), according to Lux Research.
Indonesia, Malaysia and Thailand – the three largest producers of palm oil – are parlaying their natural strengths into the emerging BBMC space. Malaysia is focusing on new oleochemicals while Thailand is focusing on bioplastics. Indonesia has ample feedstock but presents more challenges due to a lack of government support for biobased chemicals.