Bio-based Platform Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
- Transparency Market Research
Type of chemicals that can be produced through biomass origin and/or bioprocessing route is varied; examples include platform chemicals such as propane- and butanediols, isoprene, short chain olefins, ethanol, carboxylic acids, amino acids; vitamins; polymers such as xanthan gum and alginate; and the commercially important industrial enzymes used as additives in washing powder. Bio-based platform chemicals represent a group of twelve building block chemicals produced from sugar via biological conversions. The group contains molecules with different functional groups, holding the potential to be converted into various other high-value chemicals. The bio-based platform chemicals market has undergone rapid growth since the past few years. Increasing acceptance of bio-based platform chemicals in industries, stringent government guidelines on conventional petroleum-based chemicals, and consumer inclination toward environment-friendly applications are the drivers propelling the demand for bio-based platform chemicals. However, the bio-based platform chemicals market faces certain drawbacks such as the intense competition posed by fossil-fuel products.
In terms of type, the bio-based platform chemicals can be segmented into C-3 (glycerol and 3-hydroxypropionic acid), C-4 (succinic acid, fumaric acid, malic acid, and aspartic acid), C-5 (levulinic acid, glutamic acid, itaconic acid, and xylitol), and C-6 (sorbitol, glucaric acid, and 2,5-furan dicarboxylic acid). The C-3 platform chemicals segment is expected to account for the leading share of the bio-based platform chemicals market during the forecast period. This can be ascribed to the growth in end-user industries such as plastic, construction, and paints & coatings. Furthermore, the volume growth of the market is fueled by the increasing production of bio-diesel as C-3 chemicals are the resultant byproduct of bio-diesel.
Based on application, the bio-based platform chemicals market can be divided into agriculture, bio-plastics, bio-fuels, industrial chemicals, pharmaceuticals, and others. The bio-plastic segment is estimated to account for a significant market share during the forecast period. The major application area of this compound is in biodegradable plastics that are suitable for manufacturing of packaging products. Additionally, the attractive applications of bio-based succinic acid in the non-woven and fiber textile and automotive industries due to its lightweight and stability; food and beverages; polyurethane; coatings & pigments; and pharmaceuticals industries are expected to promote the growth of the global bio-based platform chemicals market during the forecast period.
In terms of region, the bio-based platform chemicals market can be segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is projected to dominate the bio-based platform chemicals market during the forecast period. The dominance of APAC in the global bio-based platform chemicals market can be attributed to the rising concerns regarding sustainability and effects of petroleum-based synthetic chemicals. Also, the expansion of the manufacturing industry in countries such as Japan, China, and India is supplementing the growth of the bio-based platform chemicals market in the region. Europe and North America contribute significantly in the overall bio-based platform chemicals market. Latin America and Middle East & Africa also account for significant market shares. This can be ascribed to the increase in demand for bio-based platform chemicals from end-use industries in these regions. The bio-based platform chemicals market is expanding, with production expected to increase by double during the forecast period. Several factors such as high oil prices, government mandates and support, and consumer preferences are driving the demand for bio-based platform chemicals.
Companies have started investing in the innovation and development of bio-based platform chemicals. Prominent players operating in this market include BASF, Cargill Incorporated, Royal DSM, INNEOS, BioAmber Inc., Myriant Technologies LLC, Braskem, Lucite International Group, Itaconix Corporation, and Alpha Chemika.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.
More from Chemicals
ChemicalsChinese Markets for Container Coatings
ChemicalsChinese Markets for Antioxidants
ChemicalsChinese Markets for Silicone Coatings
ChemicalsChinese Markets for Absorbents
Chemicals and MaterialsSilanes Market - Global Industry Analysis and Opportunity Assessment, 2020-2030