Bio-Based Materials Examining the Increasing Use of Bio-Based Materials
In order to avoid adverse effects on the environment, companies nowadays prefer to adopt sustainable technologies. The use of biomass as a raw material for various processes is a result of such efforts. Here is an overview of bio-based products.
The use of biomass as a raw material for bio-based products such as materials, chemicals, oil & gas and energy has received significant attention since the last decade. A new report titled ‘Biorefinery Applications: Global Markets‘ by BCC Research reveals that the global biorefinery applications market is expected to grow to nearly $700.7 billion by 2018, and register a five-year compound annual growth rate (CAGR) of 12.6 per cent.
The biomaterials market is the fastest growing segment with a CAGR of 22.8 per cent. Worldwide, various initiatives are being taken in this regard. Contributing towards this end, Neste Oil and DONG Energy have joined hands to develop an integrated process to produce renewable diesel and aviation fuel based on agricultural residues.
More Companies Venture on the Bio–Materials Path
There are other companies as well pursuing the same path. Solvay and New Biomass Energy (NBE) have launched the production of torrefied biomass at an industrial scale in the US to provide an innovative and renewable energy solution. Torrefied biomass is similar to coal in terms of handling and burning capabilities and it is produced through torrefaction, a process that modifies the chemical properties of waste wood and biomass. Torrefied biomass can practically substitute coal and enable power plants to generate clean energy. Similarly, Dow has joined forces with Energias Renováveis do Brasil (ERB) to launch a pioneering project in the petrochemical industry: a cogeneration plant using energy based on eucalyptus biomass.