Capacity for Bio-Based Materials and Chemicals to Nearly Double by 2017
BOSTON – Bio-based material and chemical 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 percent 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.