A fascinating glimpse at the development and adoption of industrial biotechnology was released this week by the U.S. International Trade Commission, "Industrial Biotechnology: Development and Adoption by the U.S. Chemical and Biofuel Industries." For one, while the biofuel industry grew the fastest from 2004 to 2007, the bio-based chemical industry is larger. Bio-based pharmaceuticals make up 51 percent of shipments in 2007 and other bio-based chemicals make up 18 percent to total 69 percent. Ethanol makes up 28 percent and biodiesel 3 percent of the total volume of shipments in 2007.
In praising the report issued July 17, the Biotechnology Industry Organization highlighted key findings:
Research and development expenditures in biofuels increased 400 percent from 2004 to 2007, reaching $152.5 million, a rate three times conventional R&D spending.
Bio-based products, including pharmaceuticals and biodegradable plastics, account for 70 percent of products made with industrial biotechnology, while biofuels account for 30 percent.
Research and development expenditures for biobased chemicals were much larger than for biofuels, reaching $3.4 billion.
Industrial biotechnology can benefit the U.S. economy by allowing the substitution of liquid biofuels for conventional liquid fuels, potentially reducing crude petroleum imports; stimulating the development of rural economies as a result of increased agricultural feedstock consumption; and providing environmental benefits, including sustainable production, reduced greenhouse gas emissions and less waste generation.
Industrial biotech can improve process efficiency as compared with conventional processes, resulting in potential reductions in manufacturing costs and capital expenditures, and it can create new products that can compete with conventional products.
You can dig into the 182 page report for yourself by visiting
http://hotdocs.usitc.gov/docs/pubs/332/pub4020.pdf