My article on oils and fats-based chemicals (also called oleochemicals) is now out on ICIS Chemical Business (ICB). According to consultants and industry players, the global oleochemicals market has been very turbulent in 2008 as the first half of the year saw high feedstock costs and high demand, while during the second part of the year, prices tumbled down and there was oversupply especially for glycerine and fatty acids.
Industry players in the US, however, are cautiously optimistic that the glycerine and fatty acids markets could see a revival in 2009, according to ICIS Pricing.
One major producer noted continuous efforts in finding long term solutions for the oversupply of glycerine. Maybe these South Korean scientists can help as they said they were able to successfully develop glycerol carbonate (GC) and 3-hydroxypropionic acid (3-HP) from glycerol.
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