Biotechnology Based Chemicals Market Emerging Trends and Strong Application Scope by 2020
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Biotechnology based chemicals comprises polyhydroxyalkanoates, lactic acid, lysine, citric acid, glutamic acid and threonine. The technology used in manufacturing biotechnology based chemicals are simple however, the entire production process should be carried out under the supervision of trained personnel. Glutamic acid is the most widely used amino acid manufactured as well as consumed in the world. Biotechnology based chemicals find application in pharmaceuticals, food industry, animal feed and consumer goods manufacturing industries among others.
Pharmaceutical industry is the largest consumer of biotechnology based chemicals. The growing demand for natural medicines than that compared to synthetic chemicals is expected to augment the overall demand for biotechnology based chemicals. In addition, growing awareness of the several side effects associated with the chemical drugs is expected to boost the overall biotechnology based chemicals market. The animal feed industry is also one of the major consumers of biotechnology based chemicals market.
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The growing demand for lysine in animal feed is expected to boost the overall demand for biotechnology chemicals market. Lactic acid finds applications in a wide range of industries. The growing demand for manufacturing polylactic acid (PLA) plastics boost the demand for lactic acid which in turn is expected to augment the overall biotechnology based chemicals market. However, high cost associated with the manufacturing of biotechnology based chemicals is expected to restrain the overall growth of the market.
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