Our latest research report entitled Bio-based Platform Chemicals Market (by types (C-2, C-3, C-4, C-5, and C-6), applications (agriculture, biofuels, bioplastics, food applications, industrial chemicals, pharmaceuticals, and other applications)) provides complete and deep insights into the market dynamics and growth of Bio-based Platform Chemicals. The latest information on market risks, industry chain structure Bio-based Platform Chemicals cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Bio-based Platform Chemicals growth factors.
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Increasing Acceptance of Bio-Based Platform Chemicals in Food and Beverages, Personal Care and Pharmaceuticals Industries are Driving the Growth
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-hydroxy propionic 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 environmentally friendly bio-cleaning applications is expected to grow significantly during the forecast period. The preference showed by consumers for environmentally friendly applications made from biosources 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 produced globally.
Asia-Pacific Region is the Largest Bio-Based Platforms, Chemical Market
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 chemical market and drive the growth of the North American bio-based platform chemicals market. Asia-Pacific region is the largest bio-based platform chemical market. The increasing demand for citric acid from the food and beverage 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.
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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, biofuels, bioplastics, 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.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Bio-based Platform Chemicals.
- Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.