Bangkok, Thailand — US-based Myriant, which makes bio-based succinic acid, has refocused its marketing strategy, parent PTT Global Chemical Public Company said in its 2016 annual report.
PTT said that due to price pressure from petoleum-based succinic acid, as a result of continually low crude oil prices, it is changing the way that Myriant operates. The commercial plant for bio succinic acid which has been running, is being converted to a pilot plant for research and development of other bio-based chemicals, PTT disclosed.
"The change in operation is aligned with market condition," PTT said. The group, added it is still considering commercial production plans if a business opportunity arisies and has a strategy to develop technology and manufacturing processes for back bio-succinic acid “in the near future.”
