The bio-renewable chemical market is largely driven by increasing environmental concerns and technological advancements. The government is also taking initiatives to support eco-friendly processes as well as sources. The dynamics of the chemical market can be changed with the help of opportunities like new generation feed stock, and improved yields. Apart from that collaborations with various universities may also help to boost growth of the bio-renewable chemical market.
Many researchers are trying to find out new ways of conserving nature and producing products that may both be useful for humans as well as harmless for nature. For instance, Colorado State University Polymer chemists have proceeded a step further towards the future of a high-performance, biodegradable plastic for major industrial purposes. The team states the chemical synthesis of a polymer known as bacterial poly (3-hydroxybutyrate) or P3HB. This compound is a biomaterial that is produced by algae, bacteria, and other microorganisms. It shows early promise as a substitute for petroleum plastics.
Strict Government Chemical Laws Brought About Emergence of Eco-Friendly Product Manufacturing
Earlier, the chemical industries were dependent on cheaper petroleum-based carbon feedstock for producing small collection of platform chemicals. This led to the manufacture of a large variety of chemical products. Government laws and restrictions on toxic chemical use and the rise in momentum of eco-friendly products are anticipated to propel the need for exploring alternative renewable carbon source. Chemical industries now have to shift from manufacturing non-renewable carbon source chemicals to renewable carbon source chemicals. Moreover, stake holders are more interested in non-renewable chemicals due to the insufficiency of non-renewable resources.
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However, production issues, high cost and compromise with vital resources may act as a hindrance in the growth of this market. Nevertheless, a major factor to boost the bio-renewable chemical market very soon is the burning issue of fluctuating crude oil prices.