Bio-Based Chemicals

In the past two decades, there has been renewed interest in chemicals and chemical intermediates that are not derived from fossil fuels. These chemicals are often made from carbohydrates and oils that are produced from commodity plant feedstocks and can be used as a direct replacement to existing chemicals in current applications or in new applications where a different functionality is desired (DOE Top Ten Chemicals Report 2004; updated 2017). According to McKinsey & Company, the estimated “worldwide production of biobased chemical products is projected to grow from approximately $203.3 billion in 2015 to $400 billion by 2020 and $487 billion by 2024. Commodity chemicals represent the largest market uses followed by specialty and fine chemicals. As a new category of chemicals, bio based chemicals represent a new segment that is expected to significantly grow over the next decades with increased use of these chemicals in applications such as in the manufacture of clothing, bedding, bottling and packaging materials. In spite of the higher production costs of bio based chemicals, the USDA biopreferred program and US government procurement programs have aided in significant growth in applications and uses. Greater adoption and uses has also been aided by increased uses in packaging and bottling as well as by the soft drinks, beverage and fast food industry. Greater adoption and uses has also been aided by increased uses in packaging and bottling by the soft drink, beverage and fast food industries.