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2.3 Technology-Readiness Assessment
The motivation behind this process design is driven by both advancements in technology and an increase in market size. Technologically driven aspects of the process include 1 the use
of a mixed metal oxide catalyst, Mo
1
V
0.30
Te
0.23
Nb
0.125
O
x
, 2 the use of a recycle stream to increase the yield of acrylic acid while keeping selectivity high and per pass propane conversion
low, and 3 the use of hydraulic fracturing to produce a cheap starting material, propane. All of these technologies are currently available for use and can be readily implemented. The
Innovation Map for this process is shown in Figure 2.2, page 8.
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Figure 2.2: Innovation Map
9
Section 3
Concept Stage
10
3.1 Market and Competitive Analysis
Due to acrylic acid’s use in a number of consumer and industrial applications including adhesives, paints, plastics, hygiene products, and detergents, there exists an 11 billion market
for the compound. The growth in Western Europe and the United States has slowed down to around 1.6 per year. However, because China and India have begun to adopt U.S. production
techniques and strategies, the need for polymers and copolymers has increased, adding to the growing demand for acrylic acid. China, in particular, is the high-growth market for acrylic acid
and is increasing its consumption by approximately 8 per year.
4
The average world demand is growing at a rate of approximately 3 to 5 per year. Worldwide, the acrylic acid market is
predicted to be worth 14 billion by 2018. Because this proposed process uses a cheaper raw material and produces a higher yield of
acrylic acid at the same purity, it should be competitive within the existing industrial market. However, the proposed acrylic acid plant may face a number of competitive challenges from
renewable acrylic acid pathways. The selling price of acrylic acid is predicted to drop if bio- acrylic acid plants are able to scale-up their process to industrial production levels. OPX
Biotechnologies, a leader in the fermentation process used to produce acrylic acid, is able to produce a 0.50lb acrylic acid which is much cheaper than the price of acrylic acid 1.75lb
which was assumed in this project.
5
4
ICIS Chemical Business 2010. Acrylic Acid Uses and Market Data. Retrieved March 31, 2013, from http:www.icis.comArticles200711019074870acrylic-acid-uses-and-market-data.html
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Guzman, D. d. 2012. Bio-acrylic acid on the way. Retrieved March 31, 2013, from http:greenchemicalsblog.com201209015060
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