In a piece for Biofuels Digest, BIO’s Executive Vice President, Industrial & Environmental Section, Brent Erickson (@BErickson_BIO) shares BIO’s 2018 “Renewable Chemical Platforms Building the Biobased Economy” report, which documents the contribution that over 100 companies are making to grow the biobased economy.
BIO estimates the global economic value of the biobased economy to be $355.28 billion, with the United States generating 58 percent of that value – or $205 billion.
The 2018 report is your guide to understanding the landscape of the biobased economy, from small startups to large brand manufacturers, and the perfect resource for partnering with the hundreds of industrial biotech companies that will be at the 2018 World Congress on Industrial Biotechnology in Philadelphia, July 16-19.
Read the full piece below and sign up to receive your copy of the 2018 “Renewable Chemical Platforms Building the Biobased Economy” today. Also, remember to register for the World Congress and sign up for the Partnering Webinar on Tuesday, May 15, to learn about how to use BIO’s One-on-One Partnering, so you can hit the ground running and start partnering with industry at the world’s largest conference on industrial biotechnology.
The biobased economy encompasses the entire value chain of sustainable manufacturing – from the supply of renewable or waste feedstock, through biotech platforms, to production and use of biobased fuels and products. BIO is a global leader in advocating policies that support commercialization of emerging renewable chemical technologies and companies. We recently published our new 2018 report, “Renewable Chemical Platforms Building the Biobased Economy,” to document the contribution that over 100 companies are making to the growth of the biobased economy value chain.
The latest edition of BIO’s industry directory illustrates the rapid expansion of renewable chemical platforms and applications around the world. “Renewable Chemical Platforms Building the Biobased Economy” profiles companies located in 16 countries – from small startups to large brand manufacturers – that are commercializing renewable chemical applications. The new, one-of-a-kind publication highlights the location and commercial stage of these renewable chemical makers, succinctly describing each company’s technology, products, potential markets, partnerships, and funding. We invite everyone interested in the industry to click here to download a free copy.
In capturing a snapshot of the industry’s status today, the directory also provides a glimpse of the potential for the future. Renewable chemical technologies are expanding from the biobased plastics and biofuels currently on the market to the development of nutritional food additives, cosmetic and personal care ingredients, and new materials and fabrics. A promising area for the future is biological pest control and crop growth stimulants, which will bring the biobased economy full circle by improving the renewability of feedstocks. The biobased economy continues to generate new ideas and products.
The rapid evolution of the biobased economy poses a difficult task in estimating its size and contribution to overall domestic production. BIO estimates that on a global scale, the value of biofuels, renewable chemicals and polymers, enzymes, biobased materials and the agricultural inputs are worth $355.28 billion. Our estimate is drawn from industry studies and analyses that supplement official government statistics with industry surveys. Official government statistics by themselves rarely separate renewable chemical manufacturing from the petroleum industry. BIO’s new industry directory shows how some traditional chemical manufacturers are partnering with technology companies on renewable chemical projects.
The growth of renewable chemicals is strongest in certain manufacturing sectors. TEConomy Partners – a research, analysis and strategy consultancy based in Ohio – estimates that renewable chemicals generate 16 percent of the economic activity in some important sectors of the U.S. organic chemical manufacturing industry. The company also estimates that biobased materials contribute 24 percent of the economic value of the acetate fiber market. Those percentages are more substantial than many existing industry studies calculate.
“Renewable Chemical Platforms Building the Biobased Economy” offers a view of where biobased innovation in the chemical sector is taking place. The partnerships that are building the biobased economy are key. Most – if not all – of the companies in the new directory have attended, presented or engaged in partnering meetings at the annual BIO World Congress on Industrial Biotechnology. The annual conference is a great opportunity to explore opportunities in the rapidly growing biobased economy. This year, it returns to Philadelphia at the Pennsylvania Convention Center July 16 – 19.
BIO will continue to champion policies that help renewable chemical companies build the biobased economy. We will also continue to provide the industry the best opportunities for partnering and business development through our annual conferences. We hope our new directory, “Renewable Chemical Platforms Building the Biobased Economy,” will provide companies and their business partners a new tool to use and share and to further those important efforts.
