Conversion Economics of Forest Biomaterials: Risk and Financial Analysis of CNC Manufacturing

Biofuels, Bioproducts and Biorefining

Volumn 11, Issue 4, 2017, Pages 682-700

  de Assis, Camilla Abbati ^a   Houtman, Carl ^b   Phillips, Richard ^a   Bilek, E M Ted ^b   Rojas, Orlando J ^c   Pal, Lokendra ^a   Peresin, Maria Soledad ^d   Jameel, Hasan ^a   Gonzalez, Ronalds ^a  

^a NORTH CAROLINA STATE UNIVERSITY   (United States)

^b FOREST PRODUCTS LABORATORY   (United States)

^c AALTO UNIVERSITY   (Finland)

^d AUBURN UNIVERSITY   (United States)

Author keywords

cellulose nanocrystals; CNC; conversion economics; risk analysis; techno economic analysis

Indexed keywords

CELLULOSE; CELLULOSE DERIVATIVES; CELLULOSE NANOCRYSTALS; CHEMICAL ANALYSIS; CHEMICAL INDUSTRY; COST BENEFIT ANALYSIS; ECONOMIC ANALYSIS; FORESTRY; INVESTMENTS; MANUFACTURE; OPERATING COSTS; PILOT PLANTS; RISK ANALYSIS; RISK ASSESSMENT;

CELLULOSE NANOCRYSTAL (CNC); CONVERSION PROCESS; ECONOMIC PERFORMANCE; FINANCIAL ANALYSIS; FINANCIAL PERFORMANCE; FOREST PRODUCTS LABORATORY; TECHNO-ECONOMIC ANALYSIS; TECHNO-ECONOMIC ASSESSMENT;

COSTS;

ECONOMICS; FINANCE; FOREST PRODUCTS; RISK ASSESSMENT;

EID: 85020653487     PISSN: 1932104X     EISSN: 19321031     Source Type: Journal    
DOI: 10.1002/bbb.1782     Document Type: Article

References (75)

1. Habibi Y, Lucia LA and Rojas OJ, Cellulose nanocrystals: Chemistry, self-assembly, and applications. Chem Rev 110:3479–3500 (2010).
2. Rebouillat S and Pla F, State of the art manufacturing and engineering of nanocellulose: a review of available data and industrial applications. J Biomater Nanobiotechnol 4:165–188 (2013).
3. Lee HV, Hamid SBA and Zain SK, Conversion of lignocellulosic biomass to nanocellulose: structure and chemical process conversion of lignocellulosic biomass to nanocellulose. Sci World J 2014:1–20 (2014).
4. Moon RJ, Martini A, Nairn J, Simonsen J and Youngblood J, Cellulose nanomaterials review: structure, properties and nanocomposites. Chem Soc Rev 40:3941–3994 (2011).
5. Klemm D, Kramer F, Moritz S, Lindström T, Ankerfors M, Gray D et al., Nanocelluloses: A new family of nature-based materials. Angew Chemie - Int Ed 50:5438–5466 (2011).
6. Brinchi L, Cotana F, Fortunati E and Kenny JM, Production of nanocrystalline cellulose from lignocellulosic biomass: technology and applications. Carbohydr Polym 94:154–169 (2013).
7. Dufresne A, Preparation of cellulose nanocrystals, in Nanocellulose - From Nature to High Performance Tailored Materials. De Gruyter, Berlin, Germany, pp. 83–124 (2012).
8. Web of Science database. [Online]. Available at: http://apps.webofknowledge.com.prox.lib.ncsu.edu/Search.do?product=WOS&SID=3FlU5B9KsEOKr91BQVo&search_mode=GeneralSearch&prID=311a8668-aafd-4a08-a09f-c814f04c1059 [January 26, 2017].
9. Google Patents database. [Online]. Available at: https://patents.google.com/?q=“cellulose+nanocrystal”,nanocellulose,’”cellulose+nanofibril”,”cellulose+nanowhisker”,”nanocrystalline+cellulose”&after=19940101&clustered=false [March 22, 2017].
10. Bharimalla AK, Deshmukh SP and Patil PG, Energy Efficient Manufacturing of Nanocellulose by Chemo- and Bio-Mechanical Processes: A Review. World J Nano Sci Eng 5:204–212 (2015).
11. Missoum K, Belgacem MN and Bras J, Nanofibrillated cellulose surface modification: A review. Materials (Basel) 6:1745–1766 (2013).
12. Hubbe MA, Rojas OJ, Lucia LA and Sain M, Cellulosic Nanocomposites: a Review. BioResources 3:929–980 (2008).
13. Zhu H, Luo W, Ciesielski PN, Fang Z, Zhu JY, Henriksson G, et al., Wood-Derived Materials for Green Electronics, Biological Devices, and Energy Applications. Chem Rev 116:9305–9374 (2016).
14. Miller J, Nanocellulose: State of the Industry (2015). [Online]. Available at: http://www.tappinano.org/whats-up/production-summary/ [June 23, 2016].
15. Crotogino R, The economic impact of NanoCellulose. International Symposium on Assessing the Economic Impact of Nanotechnology, Washington DC, pp. 1–42 (2012).
16. Miller J, Nanocellulose: Technology, Applications, and Markets. RISI Latin American Pulp & Paper Outlook Conference, São Paulo, Brazil (2014).
17. Global Nanocellulose (Nano-crystalline Cellulose, Nano-fibrillated Cellulose and Bacterial Nanocellulose) Market Set for Rapid Growth, To Reach Around USD 530. 0 Million by 2021. [Online]. Market Research Store webpage. Available at: http://www.marketresearchstore.com/news/global?nanocellulose?market?223 [January 30, 2017].
18. Cowie J, Bilek EM (Ted), Wegner TH and Shatkin JA, Market projections of cellulose nanomaterial-enabled products - Part 2: Volume estimates. TAPPI J 13:57–69 (2014).
19. Shatkin JA, Wegner TH, Bilek EM and Cowie J, Market projections of cellulose nanomaterial-enabled products − Part 1: Applications. TAPPI J 13:9–16 (2014).
20. Kangas H, Guide to Cellulose Nanomaterials – English Summary. Espoo, Finland (2014).
21. Moon RJ, Beck S and Rudie A, Cellulose nanocrystals - a material with unique properties and many potential applications, in Production and Applications of Cellulose Nanomaterials, ed by Postek MT, Moon RJ, Rudie AW and Bilodeau MA TAPPI Press, Peachtree Corners, GA, USA, Chapter 1, pp. 9–12 (2013).
22. Ferrer A, Pal L and Hubbe M, Nanocellulose in packaging: Advances in barrier layer technologies. Ind Crops Prod 95:574–582 (2017).
23. Bulota M, Maasdam B and Tiekstra S, Breakthrough Technologies - More with Less. [Online]. Arnhem (2013). Available at: http://vnp.nl/wp-content/uploads/2014/01/64-Breakthrough-technologies-more-with-less.pdf [January 19, 2017].
24. Nippon Paper Industries Co., Ltd, Press Releases: Launch of World's First Commercial Products Made of Functional Cellulose Nanofibers. [Online]. Nippon Paper Group Webpage (2015). Available at: http://www.nipponpapergroup.com/english/news/year/2015/news150916003182.html [December 9, 2016].
25. Nippon.com, The Promise of Cellulose Nanofibers. [Online]. Available at: http://www.nippon.com/en/genre/economy/l00151/ [December 9, 2016].
26. Assis CA, Gonzalez R, Kelley S et al., Risk management consideration in the bioeconomy. Biofuels, Bioprod Biorefining 11:549–566 (2017).
27. Nelson K, Retsina T, Iakovlev M, van Heiningen A, Deng Y, Shatkin JA et al., Materials Research for Manufacturing. ed. by Madsen LD and Svedberg EB. Springer Series in Material Science 224, Switzerland, Chapter 9, pp. 267–302 (2016).
28. Ferrer A, Quintana E, Filpponen I, Solala I, Vidal T, Rodríguez A et al., Effect of residual lignin and heteropolysaccharides in nanofibrillar cellulose and nanopaper from wood fibers. Cellulose 19:2179–2193 (2012).
29. Lahtinen P, Liukkonen S, Pere J, Sneck A and Kangas H, A comparative study of fibrillated fibers from different mechanical and chemical pulps. BioResources 9:2115–2127 (2014).
30. Abdul Khalil HPS, Davoudpour Y, Islam MN, Mustapha A, Sudesh K, Dungani R et al., Production and modification of nanofibrillated cellulose using various mechanical processes: A review. Carbohydr Polym 99:649–665 (2014).
31. Johnson DA, Effects of CNF on Papermaking Properties. In: TAPPI Nanotechnology Conference. Vancouver, Canada. (2014)
32. GL&V webpage. [Online]. GL&V and University of Maine Alliance. Available at: http://www.glv.com/pulp/fibrefinetechnologies/GLVandUniversityofMaineAlliance/GLVandUniversityofMaineAlliance [May 3, 2017].
33. Isogai A, Saito T and Fukuzumi H, TEMPO-oxidized cellulose nanofibers. Nanoscale 3:71–85 (2011).
34. Saito T, Kimura S, Nishiyama Y and Isogai A, Cellulose nanofibers prepared by TEMPO-mediated oxidation of native cellulose. Biomacromolecules 8:2485–2491 (2007).
35. Pääkkö M, Ankerfors M, Kosonen H, Nykänen A, Ahola S, Österberg M et al., Enzymatic hydrolysis combined with mechanical shearing and high-pressure homogenization for nanoscale cellulose fibrils and strong gels. Biomacromolecules 8:1934–1941 (2007).
36. Lavoine N, Desloges I, Dufresne A and Bras J, Microfibrillated cellulose - Its barrier properties and applications in cellulosic materials: A review. Carbohydr Polym 90:735–764 (2012).
37. Carrillo CA, Laine J and Rojas OJ, Microemulsion systems for fiber deconstruction into cellulose nanofibrils. ACS Appl Mater Interfaces 6:22622–22627 (2014).
38. Turpin D, Cellulose nanomaterials - Research Roadmap Technical report - Sponsored by Agenda 2020 Technology Alliance, 68p. Available at: http://www.agenda2020.org/technology-roadmaps.html [November 27, 2016]. (2016).
39. Blue Goose Inc., The R3TM Technology – Renewable Residuals Refining. [Online]. Blue Goose Biorefineries Inc., Website. Available at: http://bluegoosebiorefineries.com/our- technology/ [March 23, 2017].
40. Chen L, Zhu JY, Baez C, Kitin P and Elder T, Highly thermal-stable and functional cellulose nanocrystals and nanofibrils produced using fully recyclable organic acids. Green Chem 18:3835–3843 (2016).
41. Pettersen RC, The chemical composition of wood, in The Chemistry of Solid Wood. Advances in Chemistry Series 207, ed. by Rowell RM. American Chemical Society, Chapter 2 Washington D.C., pp. 1–9.
42. CEPI (Confederation of European Paper Industries), Pulp and Paper Industry - Definitions and Concepts. [Online]. Available at: http://www.cepi.org/system/files/public/documents/publications/statistics/2014/FINAL%20CEPI%20Definitions%20and%20Concepts_0.pdf [April 27, 2017].
43. Wang QQ, Zhu JY, Reiner RS, Verrill SP, Baxa U, McNeil SE et al., Approaching zero cellulose loss in cellulose nanocrystal (CNC) production: Recovery and characterization of cellulosic solid residues (CSR) and CNC. Cellulose 19:2033–2047 (2012).
44. Peng Y, Gardner DJ and Han Y, Drying cellulose nanofibrils: In search of a suitable method. Cellulose 19:91–102 (2012).
45. Voronova MI, Zakharov AG, Kuznetsov OY and Surov OV, The effect of drying technique of nanocellulose dispersions on properties of dried materials. Mater Lett 68:164–167 (2012).
46. Albarelli J, Paidosh A, Santos DT, Maréchal F and Meireles MAA, Environmental, energetic and economic evaluation of implementing a supercritical fluid-based nanocellulose production process in a sugarcane biorefinery. Chem Eng Trans 47:49–54 (2016).
47. Cowie J, Nanocellulose - Technology & Business Trends (2015).
48. Ireland S, Jones P, Moon RJ, Wegner T and Neih W, Cellulose Nanomaterials – Technical State of Art Presentation at Forest Service Workshop on Cellulose Nanomaterials – A Path Towards Commercialization, Washington D.C., USA (2014).
49. Reiner RS and Rudie AW, Process Scale-Up of Cellulose Nanocrystal Production to 25 kg per Batch at the Forest Products Laboratory, in Production and applications of Cellulose nanomaterials, ed. by Postek MT, Moon RJ, Rudie AW et al., TAPPI Press, Peachtree Corners, GA, USA, pp. 21–24 (2013).
50. The next - generation bioproduct mill. [Online]. Metsä Group Webpage. Available at: http://bioproductmill.com/about?the?bioproduct?mill [January 27, 2017].
51. Information gathered with Dr. Carl Houtman at Forest Products Laboratory - personal communication (2016).
52. American Process, CNC Project FEL1 Stage Gate CAPEX. FPL, Atlanta, GA, USA (2016).
53. ICIS, Indicative Chemical Prices A-Z. [Online]. Available at: http://www.icis.com/chemicals/channel-info-chemicals-a-z/ [November 28, 2016].
54. EIA, Electric Power Monthly: with data for August 2016. [Online]. EEA, Washington, D.C. (2016). Available at: www.eia.gov [November 26 2016].
55. US Treasury, US Economic Statistics - Monthly Data. 2012–2015. [Online]. Available at: https://www.treasury.gov/resource-center/data-chart-center/monitoring-the-economy/Documents/monthly ECONOMIC DATA TABLES.pdf [October 28, 2016].
56. Ulrich GD and Vasudevan PT, How to estimate utility costs. Chem Eng 113:66–69 (2006).
57. RISI database. [Online]. RISI (2016). Available at: http://www.risiinfo.com/ [December 9, 2016].
58. Environmental Protection Agency, Drinking Water Costs & Federal Funding, document number EPA 816-F-04-038 (2004).
59. US Geological Survey, 2015, Mineral Commodity Summaries (2015) 196p. Epub ahead of print 2015. http://doi.org/10.3133/70140094
60. Humbird D, Davis R, Tao L, Kinchin C, Hsu D, Aden A, Schoen P et al., Process Design and Economics for Biochemical Conversion of Lignocellulosic Biomass to Ethanol - Dilute-Acid Pretreatment and Enzymatic Hydrolysis of Corn Stover. Epub ahead of print 2011. http://doi.org/10.2172/1013269
61. Damodaran A, Tax Rates by Sector. [Online]. New York University (2016). Available at: http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/taxrate.htm [December 20, 2016].
62. Deloitte, Corporate Tax Rates. [Online]. Deloitte Online (2016). Available at: https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Tax/dttl-tax-corporate-tax-rates.pdf [December 20, 2016].
63. Damodaran A, Cost of Capital by Industry Sector. [Online]. New York University. Available at: http://people.stern.nyu.edu/adamodar/New_Home_Page/datafile/wacc.html [January 30, 2017].
64. Holland FA and Wilkinson JK, Process Economics, in Perry's Chemical Engineers’ Handbook, ed by Perry RH, Green DW, and Maloney JO. McGraw-Hill, New York, pp. 9–1 – 9–80 (1997).
65. Brigham EF and Houston JF, Fundamentals of Financial Management. 13th ed. South-Western Cengage Learning, Mason, OH, USA (2013).
66. Sinnott RK, Coulson & Richardson's Chemical Engineering - Chemical Engineering Design v.6. 4th ed. Butterworth Heinemann, Oxford, UK (2005).
67. Bureau of Labor Statistics, Producer Price Index-Commodities (Sulfuric Acid - WPU0613020T1). [Online]. BLS (2016). Available at: http://data.bls.gov/cgi-bin/srgate [December 5, 2016].
68. Bureau of Labor Statistics, Producer Price Index-Commodities (Lime - WPU06130213). [Online]. BLS (2016). Available at: http://data.bls.gov/cgi-bin/srgate [December 5, 2016].
69. Federal Reserve Economic Data (FRED). [Online]. Consumer Price Index for All Urban Consumers: All Items from 2006 to 2016. Available at: https://fred.stlouisfed.org/series/CPIAUCSL [December 5, 2016].
70. Palisade, Interpreting Regression Coefficients in Tornado Graphs. [Online]. Available at: http://kb.palisade.com/index.php?pg=kb.page&id=138 [December 27, 2016].
71. Chen L, Wang Q, Hirth K, Baez C, Agarwal UP and Zhu JY, et al., Tailoring the yield and characteristics of wood cellulose nanocrystals (CNC) using concentrated acid hydrolysis. Cellulose 22:1753–1762 (2015).
72. Kontturi E, Meriluoto A, Penttilä PA, Baccile N, Malho JM, Potthast A et al., Degradation and Crystallization of Cellulose in Hydrogen Chloride Vapor for High-Yield Isolation of Cellulose Nanocrystals. Angew Chemie - Int Ed 55:14455–14458 (2016).
73. Peng Y, Han Y and Gardner DJ, Spray-drying cellulose nanofibrils: effect of drying process parameters on particle morphology. Wood Fiber Sci 44:1–14 (2012).
74. US Department of Agriculture, Cellulose Nanomaterials — A Path Towards Commercialization Workshop Report. USDA Forest Service - National Nanotechnology Initiative, Washington D.C. (2014).
75. GEA Process Engineering Inc. Quotation for spraydrying system. (2017).