A recent report published by
Infinium Global Research on bio-based platform chemicals market provides
in-depth analysis of segments and sub-segments in the global as well as
regional bio-based platform chemicals market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
bio-based platform chemicals market over the short term as well as long term.
The report is a comprehensive presentation of trends, forecast and dollar
values of global bio-based platform chemicals market. According to the report,
the global bio-based platform chemicals market is projected to grow at a CAGR
of 8.2% over the forecast period of 2019-2025.
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. Biogas
feedstocks derive from algal and plant materials. Cornstarch, crop residues,
grass crops, sugarcane bagasse, residues of aquaculture and forestry wastes,
and woody plants are some of the major bio-feedstocks. Intermediate chemicals
and platform chemicals derived from feedstocks of biomass are bio-based
platform chemicals. Bio-enzymes, bio fertilizers, bio-PE, bio-PET, biodegradable
polyesters, cellulose fibers, 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, itaconic acid, sorbitol, and glucaric acid are
the major C3, C4, C5, C6 bio-based platform chemicals.
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 environmentally 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. Furthermore, 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
In the North American region, the U.S.
is the largest producer of ethanol. In the U.S., 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 the 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 the cultivation of crops for bio-energy.
European Union’s industrial policy that favors an increase in the 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 report on global bio-based
platform chemicals market covers segments such as types and applications. On
the basis of types, the sub-markets include C-2, C-3, C-4, C-5, and C-6. On the
basis of applications, the sub-markets include agriculture, bio fuels, bio
plastics, food applications, industrial chemicals, pharmaceuticals, and other applications.
The report provides profiles of
the companies in the market such as BioAmber Inc., DSM, BASF SE, AZoNetwork,
Raízen Energia S.A., Novamont S.p.A., Myriant Corporation, Mitsubishi Chemical
Corporation, Tianjin GreenBio Materials Co., Ltd., Zhejiang Hisun Biomaterials
Co., Ltd, Cargill Incorporated, and Others.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into 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 DRO
analysis of bio-based platform chemicals market. Moreover, the study highlights
current market trends and provides forecast from 2019-2025. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.