Market Dynamics for Sustainable Glycerol Carbonate
Dr Michelle K. Lynch CChem FRSC, CEO, Enabled Future Limited
1. Glycerol Carbonate Overview
Glycerol carbonate (GlyC) is a newer analogue of existing alkylene carbonate materials with green credentials, chemical and physical properties, and wide applicability, which make it an interesting target molecule for synthesis and application in manufactured chemical products. This brief review builds a profile of GlyC as a substance, its current synthetic methods, chemical reactivity and downstream derivatives, supply, current demand, and potential growth across a wide number of value chain applications. The potential market size, value and impact in different sectors is provided.
GlyC is a highly versatile platform chemical which due to its dual functionality with carboxyl and hydroxyl groups, can undergo transformation via many different chemistries. It has highly positive chemical, physical properties, and safe toxicological profile. Consequently, it has a vast number of potential end-use applications in automotive, construction, electrical and electronics, energy storage, food, personal care, and other industries. All these industries wish to lower their carbon footprints by incorporating greener ingredients. There is an unmet need to produce a fully renewable GlyC portfolio at sufficient scale and economical price to allow the market to develop fully and to serve the requirements for greener ingredients.
2. Synthetic Routes to Glycerol Carbonate
There are a variety of methods to prepare GlyC mainly starting with glycerol. This is key because it allows the product to be marketed as more sustainable due to its high bio-content. The carbonate source can be phosgene, a dialkyl or alkylene carbonate or a combination of urea, CO2, and oxygen; GlyC can also be released by reaction of carbon dioxide with glycidol. The main synthetic routes are summarised in Figure 2.
3. Current Supply of Glycerol Carbonate
The current market supply of cyclic carbonates is around 200,000 metric tons per year (200 ktpy). (Huntsman) Huntsman Corporation has around 50% market share. Its key products are sold under its Jeffsol brand. These are petrochemical-based ethylene carbonate, propylene carbonate and butylene carbonate sold either individually or as blends and at different purities (See Figure 3). GlyC is a newer compound with partial (73%) bio-based content. (Its renewable content is 100% if manufactured from bio-glycerol and waste CO2). Huntsman’s GlyC route involves reacting propylene carbonate with glycerol over an alkali catalyst at low pressure (33 mmHg) and removal of excess propylene carbonate by continuous vacuum distillation. (Figure 4). The key market area for Huntsman’s Jeffsol GC grade is in polyurethanes.
Ube Industries is probably the second largest producer of GlyC as part of its specialty chemical portfolio. The value chain for its products is mainly polyurethanes. Other suppliers of GlyC include: Archer Daniels Midland (ADM), Cargill, Croda, Emery Oleochemicals, Eurisotop, IOI Group, KIC Chemicals and Oleon. There is little data available about the size of the GlyC market. The best estimate is around 20,000 tons per year (20 ktpy).
4. Outlook for Glycerol Carbonate
To allow the market to expand, GlyC requires techno-economic development to bring prices down into parity with existing conventional alkylene carbonate analogues (from ~€8/kg to €1-2/kg). (Schols, 2017) It also requires the availability of upgraded glycerol feedstock in sufficient quantities on a geographic basis to meet the market demand.
Amongst the potential market areas for GlyC are some strategic, fast growing areas for meeting decarbonisation targets including as a carbon capture solvent and a better electrolyte for lithium ion batteries (LIB). In addition to serve as a low-toxicity, favourable compound for skin contact applications in food and personal care and to improve the properties of a range of fuels, plastics and building materials.
Overall GlyC can meet so many different needs of everyday industries, that it could make it a key chemical to serve a future model of a city with a circular carbon economy, which on a local level, meets the demands of its inhabitants using local natural resources and waste. With the right market and application development, it has the propensity to be part of biobased platforms which help these cities the needs for these cities to become carbon neutral/carbon negative with minimal emissions to land, sea and air. An assessment of the potential for GlyC in different industries is summarised in Table 1 below.
While it is difficult to assess a full future market potential for GlyC – it would consist of the following components:
- As a bio-based replacement for some of the existing and future growing alkylene carbonate markets e.g., as electrolytes in LIB and in carbon capture solvents
- As a substitute for competing non-alkylene carbonate compounds e.g. isocyanates in polyurethanes to meet the needs for non-isocyanate polyurethanes.
- In brand new applications generated due to the properties of new materials which can be developed from GlyC e.g., as a chemical intermediate e.g. co-polymers
The total market value of the sectors covered in this report amount to ~$770 billion. Just 1% of this market would amount to a $7.7 billion market for GlyC across different applications. Viewed from the standpoint of a 1-million-ton GlyC opportunity based on future refined glycerol market surplus in the period 2025-2030, the potential GlyC volumes can be split according to market volume and value (high, moderate and low).
Figure 6 below sets out a recommended distribution of the 1 million ton GlyC production. In the model of a local, modular chemical process such as that from QVIK from Gefn in Iceland. Gefn is an innovative Icelandic chemical engineering company that develops and commercialises innovative solutions for the production and application of green chemicals and provides technical services in related fields. Gefn’s technology enables a profitable compliance with the emerging Circular Economy. (Gefn, 2023) Its QVIK technology is currently approaching a technology readiness level (TRL) of 5 as the company is building a scaled-up prototype of its QVIK reactor (See Figure 5 above). The company has received multiple grants and is in the process of obtaining Round A financing.
KEY:
HVLV = High Value Low Volume;
HVMV = High Value Moderate Volume;
MVMV =Moderate Value Moderate Volume;
MVLV = Moderate Value Low Volume;
LVHV = Low Value High Volume
Most of the volume would be in the moderate-high value range, with energy applications making up most of the demand (LIB electrolytes, fuel additives and gas separation solvents for carbon capture) with much of the rest sold into premium grade surfactants, solvents, and polymers.
Sensitivities which could affect this outlook include:
- The effects of global warming on FAME feedstock crops (rapeseed has been negatively impacted by droughts in Europe)
Rate of vehicle electrification further impacting biodiesel demand - Competition from HVO and non-FAME renewable diesel
- Need for infrastructure improvements and deployment of 5G in cities to allow for local, modular chemicals and materials production
- The amount of business effort and cost which would be required to have multiple applications of GlyC across different sectors. A full business plan needs to prioritise the highest margin opportunities.
Given the broad applicability of GlyC as described in this article, these sensitivities are not expected to limit the market. In conclusion, GlyC has the potential to become a large scale bioplatform chemical with wide applicability in the speciality chemicals sector. As such it can make a significant contribution to the Net Zero economy and meeting corporate ESG targets.
Gefn. (2023). Gefn. Retrieved from Gefn: https://gefn.is/
Huntsman. (n.d.). TNO Product Fact Sheet Cyclic Carbonates & Huntsman brochure – JEFFSOL© Alkylene Carbonates. Retrieved from Huntsman: https://dokumen.tips/documents/jeffsol-alkylene-carbonates-brochure.html?page=1
Sarode-Dolas, R. (2018, May). Manufacturing of Glycerol Carbonate in Aspen Plus. International Journal of Latest Technology in Engineering, Management & Applied Science (IJLTEMAS), VII(V), 39-61.
Schols, E. (2017). Project Final Report, Public Summary; CyclicCO2R; Production of cyclic carbonates from CO2 using renewable feedstocks. Retrieved from Cordis: https://cordis.europa.eu/docs/results/309/309497/final1-final-report-cyclicco2r-public-summary-final.pdf
Sonnati, M. O., Amigoni, S., Taffin de Givenchy, E. P., Darmanin, T., Choulet, O., & Guittard, F. (2013). Glycerol carbonate as a versatile building block for tomorrow: synthesis, reactivity, properties and applications. Green Chemistry, 15, 283-306.