[Courtesy of Aekyung Chemical]
South Korea’s Aekyung Chemical Co. announced Friday that it signed a joint research agreement with the Korea Research Institute of Bioscience and Biotechnology (KRIBB) to develop and industrialize vegetable oil-derived biomaterials.
Under the agreement, Aekyung Chemical and KRIBB will collaborate to develop a vegetable oil-based biomaterial, C12 Di-acid, that can be used as a raw material for bio-nylon and bio-plasticizer within three years.
The duo will also develop a bioprocess and technologies to separate and purify the produced materials with high purity.
The market size for biomaterials, which is emerging as an alternative to petroleum chemicals, will total around $120 billion in 2023 and increase to $220 billion by 2027.
“Biomaterials are an essential element in creating a sustainable future,” an official from Aekyung Chemical said. “We will continue to work closely with various partners to develop and advance eco-friendly material technologies.”
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