Aekyung Chemical, KRIBB collaborate on vegetable oil-based biomaterial

[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.”