Renewable Chemicals are meeting the end-user expectations of the industrial and biotechnology sectors amidst increasing research activities
Renewable Chemicals |
Products manufactured using
renewable chemicals are used in various applications, such as resins,
surfactants, lubricants, and plastics. Some of the main process methods used to
manufacture renewable chemicals include bioconversion, acid hydrolysis,
gasification, and dehydrative transformation. Renewable chemicals can also be
produced through reductive and enzymatic processes.
Bio-based renewable chemicals are
chemicals produced from natural sources that have lower carbon footprints than
their petroleum-based counterparts. The list of products made from renewable
chemicals includes polylactic acid, plant extractives, and amino acids. Some of
the most promising bio-based products include polylactic acid,
polyhydroxyalkanoates, and lignin.
The bill will also allow businesses
that produce Renewable
Chemicals to receive a tax credit for their investment. The
Department of Treasury will establish a program
to determine eligible companies and allocate tax credits. Businesses can claim
up to $500 million in tax credits for the production of renewable chemicals. It
is important to note that the tax credit will apply only to building block
chemicals with a bio-based content of 50%. The bill does not affect chemicals
that are used in food production, feed, and fuel production.
OCM and COTC are two of the most
common forms of renewable chemicals. These processes are used to produce
olefins and aromatics using CO2 and H2. They are both suitable for direct
processes and small-scale local production. And they are also competitive with
fossil fuels. OCM and COTC require large plants and are complex, costly, and
difficult to transport. In addition, they require large infrastructure and
safety issues. They also require large investments and transportation of
chemicals, and are often associated with geopolitical and political risks.
The use of biomass as a source of
chemicals dates back to pre-oil times. In the early days of chemistry, biomass
was the only source of carbon. Today, the goal is to meet the needs of a more
abundant and technologically advanced population while also protecting the
environment. As more people begin to utilize
biomass, more sustainable solutions will arise. In August 2021, Petron
Scientech Inc., a major renewable chemicals provider in the U.S., teamed with
KBR to create licensed sustainable technology for the manufacture of renewable
chemicals.
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