The World Economic Forum report notes that
mandates for biofuel production around the world
drive the market for biofuels, while economics and
sustainability criteria drive the smaller market for
renewable chemicals. At present, chemical companies
have only sought to replace selected chemical
intermediates already in their portfolio, rather than
seek markets for novel chemical compounds that
might best be suited to the inherent properties of
biomass [8]. The strategy is limited to replacements
of petrochemicals with bio-based chemicals that
offer identical functionality and performance.