The new generation of chemicals is focusing on bio-based chemicals, a process that is increasingly being developed. The use of such substances is becoming more popular among consumers and manufacturers alike, and governments are also taking notice. By providing incentives and grants for the construction of bio-refineries, governments are fostering research and development of bio-based chemicals. This will increase the overall spending on R&D. Leading chemical companies are also concentrating their efforts on developing and commercializing biobased products for a variety of applications. These include packaging, coatings, and a wide range of other applications.
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