Report Indicates Shift in Production of Bio-Based Chemicals
NEW YORK, NY - The rising demand for biofuels will spur the market for bio-based epichlorohydrin (ECH) and biomethanol, the fastest-growing segments of the bio-based chemicals industry, according to The World Market for Bio-Based Chemicals, 2nd Edition, a research report from energy publisher SBI. The report also states that production of bio-based chemicals is shifting away from western nations and towards growing economies.
Bio-based chemicals regained ground by 2011 after commodity prices went in flux following the economic crash in 2008, managing a 19.5 percent compound annual growth rate between 2007-2011. When glycerin prices dropped to historic lows in 2009, producing bio-based ECH and biomethanol for synthetic glycerin became more economical, spurring the market through 2011.