Trusted Business Insights presents the Latest Study on Bio-based Platform Chemicals Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Global Bio-based Platform Chemicals Market
The global bio-based platform chemicals market size was valued at USD 8.81 billion in 2017 and it is expected to witness a CAGR of 12.6% from 2018 to 2025. Rising regulatory concerns regarding environmental pollution caused by hazardous chemicals are likely to boost the market in coming years. Depletion of fossil fuels is also predicted to promote the product demand over the forecast period. While the use of petroleum-based chemicals is being reduced due to government policies, bio-based chemicals are gaining market share by boosting production through renewable sources.
Expanding green chemistry market is also expected to act as a vital factor product demand.Rising disposable income along with growing population in developing economies is projected to augment the demand further in bio-fertilizers, biocides, cosmetics, plastics, and chemical formulations. These chemicals are perceived to be biodegradable and eco-friendly. Manufacturers have integrated their production and distribution channels for improved market accessibility.
These producers have to comply with regulations, acts, and guidelines published by the regulatory authorities, such as Environment Protection Agency (EPA), European Commission (EC), and Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH). Business strategies undertaken by end users greatly influence the financial conditions and operations of raw material suppliers and manufacturers. Rising green chemistry market, business sustainability programs, and innovative value chains are also anticipated to bolster the market growth.
Moreover, availability of biomass feedstock is likely to have a positive impact on the production. Strategic partnerships with raw material processors, alliances with farmers for sourcing raw materials, and various bio-based value chains are projected to fuel the demand for raw materials. Companies are focused on developing innovative process technology for bio-based platform chemical production.
Biocatalysts play a vital role in accelerating the production of these chemicals. Manufacturers are investing heavily in R&D activities for developing customized biocatalysts, which can fulfill specific requirements of the producers. Such factors enable manufacturers to produce quality products without degrading or changing the product composition.
Market Segmentation, Outlook & Viewpoint: Global Bio-based Platform Chemicals Market
Product Market Segmentation & Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
Dodecanedioic Acid (DDDA)
Polylactic Acid (PLA)
3-Hydroxypropionic Acid (3-HP)
Key Players, Recent Developments & Regional Insights: Global Bio-based Platform Chemicals Market
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Succinic acid is produced using renewable feedstock via fermentation of biomass-derived intermediates, such as glycerol, sugar, and lignocellulosic sugar. Succinic acid is one of the major raw materials used for the production of a number of significant industrial chemicals. Production of succinic acid via the conventional process of using fossil fuels is harmful to the environment and is a cost incentive process. The product derived using renewable resources has been known to have associated environmental benefits.
It also eliminates the economic instability linked with petroleum-based feedstock; this is anticipated to fuel the segment growth over the forecast period. 3-hydroxypropionic acid, also known as 3-HP, is another important platform chemical for commercial use. It is also considered as one of the 12 building block chemicals, which can be derived using biomass. It can be synthesized using crude glycerol through a biotechnological process, while crude glycerol can be obtained as a byproduct of biodiesel production that is renewable.
Moreover, various other major chemical compounds, such as 1, 3-propanediol, acrylamide, malonic acid, acrylonitrile, propiolactone, ethyl 3-HP, methyl acrylate, and acrylic acid are derived using 3-hydroxypropionic acid. These chemical compounds have a wide variety of applications, such as in the production of polymers, adhesives, fibers, plastic packaging, resins, and cleaning agents. Rising need to produce high added-value chemicals using sustainable methods and renewable resources is estimated to drive the segment over the forecast period.
The bio-based economy or bioeconomy plays a significant role in the overall American economy. The emergence of bio-based products and innovation in renewable energies have contributed to job creation, which is likely to drive the bio-based economy of North America. Abundant availability of bio-based feedstock is projected to create ample growth opportunities for the market in this region.
Being a leader of industrial biotechnology, U.S. holds an important position in the market. Implementation of the BioPreferred program by the United States Department of Agriculture (USDA) has fueled the sales of bio-based products, which, in turn, has propelled the product demand in the region. The market in Canada and Mexico is also projected to witness a healthy CAGR owing to increasing demand for bio-based products coupled with various government initiatives supporting the production of these chemicals.
European governments focus towards the development of bio-based sector along with various strategies and policies to achieve sustainable economic growth is anticipated to foster the product demand in the region. Commission Expert Group for bio-based products, European Innovation Partnerships (EIP), Circular Economy Package, and flagship initiative under Europe 2020 strategy are some of the significant factors contributing to the regional market growth.
The Asia Pacific region has experienced growing product demand over the past few years owing to shifting consumer preferences toward bio-based products along with various government policies regarding environmental protection. Rapidly expanding bio-based polymer industry coupled with increasing adoption of bio-refinery concepts is anticipated to drive the market growth in the region.
Bio-based Platform Chemicals Market Share Insights
Prominent companies in the global market include Genomatica. Inc.; BASF SE; Corbion N.V.; Rennovia, Inc.; Itaconix plc; Avantium N.V.; Amyris, Inc.; Butamax Advanced Biofuels LLC; GC Innovation America; Gevo, Inc.; NatureWorks LLC; Henan Jindan Lactic Acid Technology Co., Ltd.; Reverdia; Braskem; Celbius Ltd.; DuPont Tate & Lyle Bio Products Company, LLC; and Parchem Fine & Specialty Chemicals. Moderate competition prevailing in the market is forcing industry participants to produce innovative products.
Thus, companies are spending more on research and development of new products, which comply with regulations and standards implemented by various government authorities across the globe. Major industry participants are focused on creating alliances and collaborations with the raw material suppliers to attain higher participation in the value chain. Strategic partnerships with raw material processors are done on a large scale to achieve the competitive edge.
Key Insights Covered: Global Bio-based Platform Chemicals Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Bio-based Platform Chemicals industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Bio-based Platform Chemicals industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Bio-based Platform Chemicals industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Bio-based Platform Chemicals industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Bio-based Platform Chemicals industry.
Research Methodology: Global Bio-based Platform Chemicals Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
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