Today, petroleum-based acrylic is an $8 billion global market. It is used in a range of industrial and consumer products, including paints, adhesives, diapers and detergents.
The sheer market size means that it’s environmental impacts (around oil consumption, flow-down effects of oil extraction, toxic substances entering post-consumer waste streams, emissions) are also huge.
The ultimate goal for bio-based acrylics (and the biggest hurdle to date) has been bringing the price down to a commercial target of $0.50 per pound.
Colorado-based OPX Biotechnologies has found a way to reduce production costs by 85 percent toward the commercial target, developing an efficient and commercially viable production process for bioacrylics. We congratulate them and look forward to painting with peace of mind.
Tags: Bioplastics, Community, Innovation, Oil Dependence, Renewable, Renewable Resources, Resources, Sustainability, Technology, Waste