Renewable chemicals or bio-based chemicals are defined as those categories of chemicals, which are synthesized from renewable sources such as agricultural feedstock, agricultural waste, organic waste products, biomass, and microorganisms. Renewable chemicals are categorized as sustainable and environment-friendly chemicals which emits fewer carbon footprints as compared to traditional petro-based chemicals. Some of the most widely available renewable chemicals are lignin, carbohydrates, oils, plant extractives, hemicellulose, cellulose, starch, protein, and others. Such chemicals find application in diverse application bases such as food and beverage, agriculture, textiles, automotive, packaging and others.
RISING ADOPTION OF BIO-BASED PLATFORM CHEMICALS TO CREATE LUCRATIVE OPPORTUNITIES FOR THE MANUFACTURERS TO BOOST ITS DEMAND IN THE GLOBAL MARKET
Bio-based platform chemicals are composed of molecules, which possesses a capability to be transformed into other high-value chemicals. As per an article published in International Energy Agency (IEA) bioenergy in February 2020, the feedstocks used in biorefineries are mainly fractionated and processed into several key intermediates, which acts as a platform, to perform further specific processing and final conversion into the final marketable products, such as fuels and chemicals. As per an article published by Multidisciplinary Digital Publishing Institute (MDPI) in December 2018, the biomass-derived chemicals, such as 5-hydroxymethylfurfural (5-HMF), levulinic acid, furfurals, sugar alcohols, lactic acid, succinic acid, and phenols, are categorized under platform chemicals. These chemicals can also be sourced from renewable feedstock. For instance, Hydroxymethylfurfural (HMF), also 5-(hydroxymethyl) furfural (5-HMF), is considered as one of the significant platform chemicals sourced from renewable feedstock. It portrays application in next-generation plastic and biofuel production
A significant surge in the demand for bio-based platform chemicals has been witnessed over the past few years owing to expanding application base across diverse industries coupled with increasing regulations related to conventional petroleum-derived chemicals, and the growing adoption of environment-friendly products. As the demand for eco-friendly products across industries gathers strength and companies focus on the development of effective varieties of bio-based platform chemicals, the renewable chemicals market is expected to grow at an impressive pace in the next few years. Additionally, the emergence of bio-refineries has provided a thrust in the development of bio-based platform chemicals as a significant substitute to petrochemicals. The use of bio-based platform chemicals holds strong potential for decarbonizing into novel products. Therefore, they find application in the production of plastics, car parts, and consumer products such as shoe soles. Several studies have been conducted to promote the use of platform chemicals over petrochemical chemicals. For instance, the study published by MDPI in December 2018 highlights novel strategies to obtain a sustainable conversion of biomass to platform chemicals. Several advances have been made to overcome a few potential challenges associated with limited production, complex synthesis mechanism, high costs, and the deactivation of catalysts. To overcome these challenges, researchers suggest the deployment of single-step catalytic conversions with the help of highly efficient and selective catalysts, and exploring purification and separation technologies. Hence, rising adoption of bio-based platform chemicals is expected to promote the demand for renewable chemicals in global market.
