Bio-based Platform Chemicals Market Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2031

𝐁𝐢𝐨-𝐛𝐚𝐬𝐞𝐝 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝟐𝟎𝟑𝟏
• The global bio-based platform chemicals market was valued at US$ 1.7 Bn in 2021
• It is estimated to advance at a CAGR of 11.9% from 2022 to 2031
• The global bio-based platform chemicals market is expected to reach US$ 5.3 Bn by the end of 2031

𝐑𝐞𝐚𝐝 𝐫𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 - https://www.transparencymarketresearch.com/bio-based-platform-chemicals-market.html

𝐁𝐢𝐨-𝐛𝐚𝐬𝐞𝐝 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧

Bio-based platform chemicals are produced by breaking down and processing bio-based materials. This method is used to produce a large number of chemicals and materials that have better functionality and the ability to be transformed into several other chemicals. Bio-based platform chemicals represent a group of twelve (one not commercialized yet) building block chemicals that can be 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.

Fumaric acid is an important specialty chemical with wide industrial applications, ranging from its use as feedstock for the synthesis of polymeric resins to acidulants in foods and pharmaceuticals. Itaconic acid is an unsaturated di-carbonic acid. It has a broad application spectrum in the industrial production of resins and is used as a building block for acrylic plastics, acrylate latexes, super-absorbents, and anti-scaling agents. Aspartic acid is an α-amino acid naturally produced by both plants and animals. Glutamic acid is a nonessential amino acid found in animal and plant proteins, which is primarily utilized and produced in the form of its sodium salt as monosodium glutamate (MSG). Both acids play important roles as general acids in enzyme active centers.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 -
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=43019

𝐑𝐢𝐬𝐞 𝐢𝐧 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 𝐁𝐥𝐞𝐧𝐝𝐞𝐝 𝐅𝐮𝐞𝐥𝐬 𝐀𝐮𝐠𝐦𝐞𝐧𝐭𝐢𝐧𝐠 𝐆𝐥𝐨𝐛𝐚𝐥 𝐁𝐢𝐨-𝐛𝐚𝐬𝐞𝐝 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

Growth in environmental concerns and increase in awareness regarding the use of renewable biological resources for industrial applications are contributing to the global demand for the bio-based platform chemicals market. Platform chemicals derived from plants are preferred over those derived from fossil fuels. These sustainable alternatives help reduce reliance on fossil feedstock for chemicals, materials, and fuel, as well as greenhouse gas emissions across production chains. Plant-based raw materials such as vegetable oil and starch have long been used in the chemical industry, but bio-based chemicals take renewable resources to a whole new level.

Globally, the transportation sector is the biggest emitter of greenhouse gases, majorly due to the usage of fossil fuels to power internal combustion engines. Countries all over the world are implementing stringent regulations to limit the emission of greenhouse gases. They are also mandating the utilization of gasoline blended with ethanol to lower emissions and reduce dependency on fossil fuels.

The Government of India and various oil marketing companies are aggressively promoting the blending of 10% ethanol in motor spirit to increase the blending percentage gradually to 20% by 2028. Global bio-gasoline consumption stood at 965 thousand barrels of oil equivalent per day, in 2016, which witnessed a significant increase till 2019 and a suffered a decline in 2020 due to the COVID-19 pandemic. Consumption is expected to recover once the effect of the pandemic subsides completely. Likewise, Canada is likely to release the final regulation for publication of its Clean Fuel Standard program in spring 2022. The Clean Fuel Standard program includes a nationwide goal of an average 15% ethanol blend by 2030. In March 2022, Brazil's Ministry of Economy announced that it would waive its import tariff on ethanol, including other products, through the end of 2022 to alleviate inflationary pressures. This is expected to give a boost to ethanol blending in the country. Thus, increase in the adoption of blended fuels is expected to propel the global bio-based platform chemicals market during the forecast period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 -https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=43019

𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐂𝐥𝐞𝐚𝐧 𝐋𝐚𝐛𝐞𝐥 𝐁𝐞𝐚𝐮𝐭𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐚𝐧𝐝 𝐑𝐢𝐬𝐞 𝐢𝐧 𝐇𝐞𝐚𝐥𝐭𝐡-𝐂𝐨𝐧𝐬𝐜𝐢𝐨𝐮𝐬𝐧𝐞𝐬𝐬 𝐚𝐦𝐨𝐧𝐠 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫𝐬

Bio-based platform chemicals are used as organic compounds in the manufacture of shampoos, detergents, and various pharmaceutical products, as these chemicals can dissolve in various acids and alcohols such as lactic acid, ethanol, and succinic acid. Rise in the demand for these chemicals and increase in the usage of bio-based products are projected to drive the market during the forecast period.

Increase in awareness about environment-friendly products is a major opportunity for the bio-based platform chemicals market. Companies in the market are focused on R&D of more effective varieties of bio-based platform chemicals. Currently, a huge range of products including solvents and pharmaceuticals contain bio-based platforms chemicals. Future business opportunities in the bio-based platform chemicals market also include rise in health consciousness among consumers and the subsequent increase in the demand for bio-based ingredients in skin and sun care cosmetic products. Governments are offering initiatives and enacting regulations, policies, and safety laws to enhance the quality of bio-based cosmetics in order to promote the use of bio-based cosmetics.

𝐑𝐢𝐬𝐞 𝐢𝐧 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 𝐗𝐲𝐥𝐨𝐬𝐞 𝐢𝐧 𝐅𝐨𝐨𝐝 & 𝐁𝐞𝐯𝐞𝐫𝐚𝐠𝐞 𝐒𝐞𝐜𝐭𝐨𝐫

In terms of source, the global bio-based platform chemicals market has been classified into pentose sugar, xylose, arabinose, and others. The xylose segment dominated the global bio-based platform chemicals market and held 36.9% share in 2021. The segment is estimated to advance at a notable CAGR of 12.9% during the forecast period. Xylose is a sugar isolated from wood. D-xylose is a sugar widely used as a diabetic sweetener in foods and beverages. Xylose is also used as a diagnostic agent to observe malabsorptio

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 -https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=43019

𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐆𝐥𝐨𝐛𝐚𝐥 𝐁𝐢𝐨-𝐛𝐚𝐬𝐞𝐝 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

The global bio-based platform chemicals market is highly consolidated, with a small number of large-scale vendors are controlling majority of the share. Most companies are investing considerably in comprehensive research and development activities, primarily to create environment-friendly products. Expansion of product portfolios and mergers and acquisitions are key strategies adopted by prominent players. BASF SE, ADM, BioAmber Inc. (ARD), DuPont, Cargill, POET, LLC, Roquette, GFBiochemicals, Yield10 Bioscience Inc. (Metabolix), AVA Biochem AG, Novozymes, Braskem, and Pyran, Inc. are the key players operating in the bio-based platform chemicals market.

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭

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Transparency Market Research Inc.
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