Submitted by ETC Staff on
Biofeedstocks for Industrial Chemical Production
The world’s 50 largest chemical corporations control a global market valued at $697 billion in 2009. The top 10 chemical firms account for about 40% of the market. “Petrochemicals,” by definition, are derived from petroleum and other fossil fuels. With soaring costs, unpredictable supplies and more challenging extractions, the industry is already making a transition from petrochemicals to biomass feedstocks. (In 2010, the world’s top 50 chemical corporations rebounded with combined sales of approximately $850 billion, an increase of 25.3% over 2009.)
Sources:
Chemical & Engineering News