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Chang Yuzhi, a research fellow in the chemical industry of China Investment Advisors, pointed out that although bio-based chemicals account for a relatively small proportion in the global chemical market, large chemical companies in the world and around the world have attached great importance to the development of the biochemical industry. At present, some countries have formulated mid- and long-term plans for the development of biochemical industries and have given corresponding support in terms of policies and funding. International chemical giants such as BASF, DuPont, Dow Chemical, and DSM have also used biobased chemicals as The focus of its business development is expected to further accelerate the pace of commercialization of bio-based chemicals in the future.
According to relevant data, the US Department of Energy announced on June 10 that it will invest US$36 million to fund 6 biomass projects to continue to promote biofuels, jet fuels and other biofuels and increase the production technology of high value-added biobased chemicals. And to improve the technological efficiency of non-food biomass fuels using algae and cellulose as raw materials to reduce energy consumption, capital investment and operating costs.
At the same time, transnational chemical giants are also increasingly investing in the bio-based chemicals business and have established bio-based chemical production bases. For example, DSM, BASF, Myriant, and BioAmber have recently announced plans to build multiple world-scale bio-based succinic acid production plants; Dow Chemical also recently announced that it will build its own bio-based polyethylene plant in Brazil; Genomatica and Japan’s Mitsubishi Chemical will also set up joint ventures and build a commercial-scale biobased 1,4-butanediol plant.
Zhang Yanlin, research director of China Investment Consulting Co., Ltd. pointed out that due to its wide distribution, abundant reserves, small environmental pollution, and renewable characteristics, bioenergy has now become the focus of development in all countries in the world. Moreover, after years of development, the production technology of bio-based chemicals has been greatly improved. Previous problems such as high production costs, insufficient product performance, and limited application range have improved, and it is expected that bio-based chemicals will develop in the future. The outlook is more optimistic.
Chemical industry: optimistic outlook for the development of bio-based chemicals
According to relevant data, the current global demand for biofuels is growing at an average annual rate of 8%, and it is expected that by 2015 global biofuel demand will reach 53 billion gallons. At the same time, the demand for bio-based materials is also growing at an average annual rate of about 18%. It is expected that the global bio-based chemicals will have a larger total production capacity in the next few years.