German chemicals company BASF SE (BAS.XE), U.S.-based
commodities company Cargill, Inc. and Danish biotech company
Novozymes A/S (NVZMY) said Friday an agreement to develop
technologies to produce acrylic acid from renewable raw materials
has been reached.
MAIN FACTS:
-Financial details of the research cooperation weren't
disclosed.
-The world's largest producer of acrylic acid, BASF, will now
also join the research collaboration with Novozymes and Cargill,
which have already worked together on renewable acrylic technology
since 2008.
-The bio-based acrylic acid will first be used to manufacture
superabsorbent polymers, which can soak up large amounts of liquid
and are used mainly in baby diapers and other hygiene products, but
also in adhesive raw materials and coatings.
-The annual global market volume of acrylic acid is
approximately 4.5 million tons with a value of around $11 billion
at the end of 2011, with a annual growth rate of about 4%, the
press release says.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
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