Press release
Bio-Based Platform Chemicals Market Key Players, Product and Production Information analysis and forecast to 2023
The size of the global bio-based platform chemicals market is projected to grow with a CAGR of 8% from 2017 to 2023. bio-based platform chemicals are produced in bio refineries, which convert biomass to fuels, heat, power, and other value added chemicals, by various biomass conversion processes. Bio gas feed stocks derive from algal and plant materials. Cornstarch, crop residues, grass crops, sugarcane bagasse, residues of aqua culture and forestry wastes, and woody plants are some of the major bio feed stocks. Intermediate chemicals and platform chemicals derived from feed stocks of biomass are bio-based platform chemicals. Bio enzymes, bio fertilizers, bio PE, bio PET, biodegradable polyesters, cellulose fibres, cellulose derivatives, citric acid, ethanol, fatty acids, non-food starch, and tall oil are some of the major bio-based platform chemicals. Ethanol is the most commercially produced bio- based chemical. Platform chemicals are the fastest growing segment among the global bio-based platform chemicals market. Glycerol, 3-hydroxypropionic acid, aspartic acid, glutamic acid, itanconic acid, sorbitol and glucaric acid are the major C3, C4, C5, C6 bio based platform chemicals. The production capacities for bio-plastics are expected to grow significantly during the forecast period. Bio-pet and bio PE accounts for more than 50% of the bio based polymers produced globally.Get Sample Copy of this Report: https://www.infiniumglobalresearch.com/reports/sample_request/46
Market Insights
Increasing acceptance of bio-based platform chemicals in food and beverages, personal care and pharmaceuticals industries are driving the growth of the bio-based platform chemicals market. The demand for environmental friendly bio-cleaning applications is expected to grow significantly during the forecast period. The preference showed by consumers for environmental friendly applications made from bio sources is a major factor in the growth of the global bio-based platform chemicals market. The limited reserves of non-renewable resources such as coal, gas, and oil, along with the increasing pollution related to those resources are expected provide boost the growth of the bio chemicals market. Moreover, the stringent government guidelines force many sectors to move towards bio-based platform chemicals over conventional petroleum based chemicals. Unhindered availability of raw materials, adverse weather conditions, price fluctuations of petroleum-based chemicals are the main challenges expected to affect the prospects of major players in the market.
Segments Covered:
The report segments the global bio-based platform chemicals market by type, applications and region. On the basis of type, the market is segmented as C-3 (including Glycerol, 3-Hydroxypropionic Acid), C-4 (Succinic, Fumaric, Malic & Aspartic Acid), C-5 (Levulinic, Glutamic & Itaconic Acid, Xylitol), C-6 (Sorbitol, Glucaric Acid) Based on the end user applications, the market is segmented as agriculture, bio fuels, bio plastics, food applications, industrial chemicals, pharmaceuticals and others.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.
In North American region, USA is the largest producer of ethanol. In USA, the bio-based platform chemicals are slowly replacing petroleum-derived chemicals. Hence, it is expected to build upon the current market share of around ten percentages in the chemicals market and drive the growth of the North American bio-based platform chemicals market. Asia-Pacific region is the largest bio-based platforms chemical market. The increasing demand for citric acid from food and beverages industry in the region is expected to drive the growth of the bio-based platform chemicals market. In Europe, there are serious concerns about the clearing of forests for cultivation of crops for bio-energy. European Union’s industrial policy that favors increase in share of bio-based applications industry up to 20% by 2023 is expected to enhance the growth of the bio-based platform chemicals market in the region. The ethanol production in the Brazil accounts for significant portion of the global ethanol production and it drives the Latin American market. Moreover, the increasing demand for the bio-based platform chemicals is expected to drive the Latin American bio-based chemical market. African region is also expected to experience a steady growth in the bio-based platform chemicals market. The emergence of innovative technologies, huge private investments, and partnerships between various chemical companies and agro-companies are keys to the growth of bio-based platform chemicals market. It is a challenge for major players in the market to usurp the dominant petroleum based chemicals, by providing competitive pricing and performance at commercial scale. However, in several industrial sectors, strict environmental friendly guidelines issued by governments provide opportunity for bio-chemicals companies to expand their capacities and provide reliable alternatives to harmful chemicals.
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Companies Profiled:
The companies covered in the report include Australian Renewable Fuels Limited, BASF AG, BioAmber Inc, Royal DSM, Mitsubishi Chemicals, Myriant Technologies LLC, Novamont S.P.A, Raizen Energia Participacoes, Tianjin Green Bio Materials Co. Ltd, and Zhejiang Hisun Biomaterials Co. Ltd.
Report Highlights:
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of bio-based platform chemicals globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and value chain analysis of fish oil.
Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the bio-based platform chemicals market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers, and distributors of the bio-based platform chemicals market to understand the present and future trends in this market and formulate their strategies accordingly.
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Infinium Global Research and Consulting Solutions is started with a single motto of being business partner of first choice. We at Infinium work on the strengths of our clients to ensure we help them consolidate their market position. We firmly believe in the fact that ‘if you are able to develop newer opportunities then you find there is no dearth of opportunities for you. With our strategic research approaches and deep dive in the market segments, we try to find out new opportunities that our clients can encash with their existing resources. Our experts with over 100 years of cumulative experience in research offer the best in the industry services to our clients to ensure that they achieve their business goals.
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