Bio-olefins and derivatives - is there a case for it?
The push towards sustainability has increased the focus on bio-based products. The current market for bio-olefins are concentrated on bio-PE, bio-EVA, bio-MEG, bio-EODs and bio-PP. However, these volumes remain limited and is a drop-in replacement for its fossil-based equivalents. High feedstock cost and low willingness to pay remains one of the biggest challenge in this area. Despite this, progress are being made on various fronts, with numerous bio-based projects under study and the advancement towards commercialisation of second-generation technology. The mass balance approach is also gaining popularity given its low implementation cost.