BASF, Cargill, Novozymes Collaborate On Acrylic Acid Research
08/17/2012| 05:20am US/Eastern
German chemicals company BASF SE (>> BASF SE), U.S.-based commodities company Cargill, Inc. and Danish biotech company Novozymes A/S (>> Novozymes A/S) said Friday an agreement to develop technologies to produce acrylic acid from renewable raw materials has been reached.
-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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