Bio-Based Chemicals Market Size, Shares 2019 | Industry Revenue by Top Key Players: BASF SE (Germany), Vertec BioSolvents (US), AGAE Technologies, LLC (US), TOTAL (France), BioAmber Inc (US)
The growing use of bio-based alcohols in the food & beverage industry is majorly driving the global bio-based chemicals market. Besides, the growing demand for bio-based lubricants in the automotive and transportation industry is also fuelling the market growth. The increasing number of lignocellulosic biorefineries is expected to provide growth impetus to the players operating in the global bio-based chemicals market during the forecast period. Moreover, the increasing focus on cost optimization through technological innovation is the prevailing trend observed in the global bio-based chemicals market.
Global bio-based chemicals market is projected to exhibit a CAGR of 10.47% to reach around USD 97,267.0 million by the end of 2023.
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Bio-based chemicals are produced using renewable sources such as corn, wheat, other cereals, grains, vegetable oil, sugarcane, sugar beet, cassava, and lignocellulosic biomass, among others. The production of bio-based chemicals is increasing across the globe, as the chemical industry contributes over 20% of the industrial greenhouse gas emissions as of 2017, according to the US Environmental Protection Agency (US EPA). The growth of the global bio-based chemicals market is driven by stringent regulatory policies regarding the use of synthetic chemicals majorly in developed countries. The adoption of bio-based chemicals is increasing extensively in agricultural, automotive, personal care, food & beverage, packaging, detergents & cleaners, paints and coatings, adhesives and sealants, and pharmaceutical industries, among others.
Top key players covered in this report:
BASF SE (Germany)
Vertec BioSolvents (US)
BioAmber Inc (US)
Archer Daniels Midland Company (US) and more….
This report focuses on the Bio-Based Chemicals Market in global market, especially in United States, China, Europe, Japan, Southeast Asia, India and more.
By type, the bio-alcohols segment held the largest market share of over 40% by value in 2018 due to the growing adoption of bio-ethanol in industrial as well as potable applications and high demand for other bio-alcohols such as xylitol, sorbitol, bio-butanol, and bio-methanol in the food & beverage, cosmetics & personal care, and pharmaceutical industries.
On the basis of application, the global bio-based chemicals market has been segmented into agriculture, automobile, personal care, packaging, food & beverage, paints and coating, detergents and cleaners, adhesives and sealants, paint dispersion, pharmaceuticals, and others. The food & beverage segment held the largest market share of over 26% by value in 2018 due to the high demand for bio-solvents, bio-alcohols, bio-surfactants, and bio-based acids for various applications. The growth of the segment is attributed to the increasing disposable income and changing lifestyles. However, the pharmaceutical segment is expected to register the highest CAGR during the forecast period.
However, volatile raw material prices is expected to restrain the growth of the global market during the forecast period.
Global Bio-Based Chemicals Market Share, by Type, 2018 (%)
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The global bio-based chemicals market was valued at USD 59,117.6 million in 2018 and is expected to exhibit a CAGR of 10.47% to reach around USD 97,267.0 million by the end of 2023.
By type, the bio-alcohols segment was valued at over USD 24,000 million in 2018; it is expected to register a CAGR of 9.89% during the forecast period.
On the basis of application, the food & beverage is estimated to be the largest segment of the global bio-based chemicals market, which accounted for a 26.2% value share in 2018.
By region, the European market accounted for the largest share of 33.75% by value in 2018.
The global bio-based chemicals market has been segmented based on type, application, and region.
On the basis of type, the global bio-based chemicals market has been segmented into bio-alcohols, bio-based acids, bioplastics, bio-lubricants, bio-surfactants, bio-solvents, and others. The bio-alcohols segment is further sub-segmented into bio-ethanol, sorbitol, xylitol, biobutanol, bio-methanol, and others. The bio-based acids segment is sub-segmented into citric acid, lactic acid, succinic acid, and others. The bioplastics segment is further divided into non-biodegradable and biodegradable. Non-biodegradable bioplastics include polyethylene terephthalate (PET), polyamide (PA), polyethylene (PE), and others. Biodegradable bioplastics include polybutyrate adipate terephthalate (PBAT), polybutylene succinate (PBS), polylactic acid (PLA), polyhydroxyalkanoate (PHA), starch blends, and others. Bio-lubricants are further segmented into vegetable oils and animal fats. Bio-surfactants is sub-segmented into glycolipids, lipopeptides, and others. Bio-solvents is sub-segmented into glycols, ketones, lactate ester, and others.
By application, the global bio-based chemicals market has been categorized into food & beverage, pharmaceuticals, agriculture, packaging, personal care, paints & coatings, automobiles, paint dispersions, adhesives & sealants, detergents & cleaners, and others.
The global market, by region, has been categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Table of Contents
1 Executive Summary
2 Market Introduction
3 Market Insights
4 Research Methodology
5 Market Dynamics
6 Market Factor Analysis
7 Global Bio-Based Chemicals Market, by Type
8 Global Bio-Based Chemicals Market, by Application
9 Global Bio-Based Chemicals Market, by Region
10 Competitive Landscape
11 Company Profiles
11.1 BASF SE
11.1.1 Company Overview
11.1.2 Financial Overview
11.1.3 Products Offered
11.1.4 Key Developments
11.1.5 SWOT Analysis
11.1.6 Key Strategies
11.2 Vertec BioSolvents
11.2.1 Company Overview
11.2.2 Financial Overview
11.2.3 Products Offered
11.2.4 Key Developments
11.2.5 SWOT Analysis
11.2.6 Key Strategies
11.3 AGAE Technologies, LLC
……… TOC continued
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