Global Bio-based Platform Chemicals Market Analysis, Drivers, Restraints, Opportunities, Threats, Energy type, Vehicle type, and Growth Forecast: 2019–2028
“Global Bio-based Platform Chemicals Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global bio-based platform chemicals market report has been segmented on the basis of product type, type, application, and region.
Global Bio-based Platform Chemicals Market: Overview
Bio-based platform chemical is bio-based materials produced through breaking down and processing of bio-based materials. The chemicals that are produced using this method have better functionality and have the capabilities of being transformed into various other chemicals. Bio-based chemicals are used as an important forerunner for producing a variety of materials as well as chemicals, such as polymers, fuels, solvents, perfume, and pharmaceuticals. Bio-based chemicals contain two to six carbon contains and are inherited from renewable resources. In addition, various chemicals can be manufactured with the help of these bioprocessing techniques using biomass. Bio-based chemicals are group of chemicals manufactured from sugar using process of biological conversions. This group contains some molecules with variety of functional groups.
Global Bio-based Chemicals Market: Dynamics
Advent of bio-refineries in order to make bio-based chemicals as an alternative to petrochemicals. In addition, bio-based platform chemicals provide a huge opportunity for decarbonizing everyday products. This benefits offered by bio-based chemicals products is expected to generate huge demand for bio-based platform chemicals across the globe. These are major factors expected to drive the global market growth. In addition, strict government rules and increasing adoption of eco-friendly products are other factors expected to drive growth of global bio-based chemicals market.
Rising demand for bio-based chemicals products across various end-use industries, strict rules and regulations regarding standard petroleum-delivered chemicals and safety of environment, are other factor expected to augment the global market growth. Growing demand for eco-friendly products across various industries and increasing focus on development of more effective bio-based chemicals by some key players in the global market are factors expected to drive growth of global bio-based chemicals market.
However, high popularity of various applications offered by fossil-fuel products is a major factor expected to hamper the global bio-based chemicals market growth.
Global Bio-based Chemicals Market: Segment Analysis
Among the product type segments, the bio-glycerol segment is expected to contribute highest revenue share in the global bio-based chemicals market. Bio-glycerol is an important product in manufacturing process of bio-diesel and bio-based glycerol is available at lower cost. In various industries such as cosmetics, food & beverages, and pharmaceuticals bio-glycerol is used as feedstock in various products such as poly, citric acid, and butanol. Rising demand for these products in developing countries is another factor expected to increase the demand for bio-glycerol products.
Global Bio-based Chemicals Market: Region Analysis
North America market is estimated to account for highest revenue share in the global bio-based chemicals market. Growing concerns related to the ill-effects of petroleum-based chemicals on the environment is another factor expected to drive the target market growth. Moreover, growing demand from personal care, pharmaceutical, and automotive industries from various developing and developed countries like China, Japan, and India is another factor expected to augment growth of the bio-based chemicals market in this region.
Global Bio-based Chemical Market Segmentation:
Segmentation by Product Type:
- Bio-Glutamic Acid
- Bio-3-Hydroxypropionic Acid
- Bio-Itaconic Acid
- Bio-Succinic Acid
Segmentation by Type:
Segmentation by Application:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Bio-Amber Inc.
- Myriant Corporation
- Succinity GmbH
- Cargill Incorporated
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