Bio-Based Platform Chemicals Market Competitive Analysis, Emerging Trends and Demand Forecast up to 2025

Bio-Based Platform Chemicals are eco-friendly and offer an unparalleled combination of properties compared to conventional chemicals. Over the past few years, the Global Bio-Based Platform Chemicals Market has been witnessing a growth. Conventional chemicals emit good degrees of volatile organic compounds (VOC) which are harmful to the environment. As a result, growing environmental concerns are driving the demand for Bio-Based Platform Chemicals, prompting the need for sustainable green solutions.

According to an eminent research firm - Market Research Future (MRFR), the Global Bio-Based Platform Chemicals Market was observed to have generated a value of USD 5017 MN, which would get appreciated at USD 10,205.4 MN by the end of 2023. In its recently published analysis, MRFR also asserts that the market would register a CAGR of 12.67% throughout the estimated period (2018 – 2023). Bio-Based Polymers are driving huge market demand, witnessing their rising applications in consumer goods, construction, and automotive vehicles, among others.

A considerable amount of Bio-Based Platform Chemicals is consumed by the Bio-Based Polymers Industry, consequently, boosting the market growth. Besides, wide applications of these chemicals in the manufacturing sector demonstrate massive market opportunities.

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Bio-Based Platform Chemicals Market - Segmentation

The report is segmented into three market dynamics to widen the scope of understanding,

By Type: Sugar, Syngas, Biogas, Oil, and Algae, among others.

By Application: Polymers, Fuels, Solvents, Pharmaceuticals, and Perfumes, among others.

By Regions: Europe, North America, APAC, and the Rest-of-the-World (RoW).

Bio-Based Platform Chemicals Market - Regional Analysis

The Asia Pacific accounts for the largest region in the Global Bio-Based Platform Chemicals Market, possessing the largest market share. In 2017, the region was observed to have generated a value of USD 2,078.4 MN. The market is expected to generate a considerable revenue of USD 4,488.2 MN by 2023, owing to the augmenting demand in various applications such as polymers, fuels, solvents, and pharmaceuticals.

The region has been enticing foreign investors with the ample availability of renewable raw materials required to produce these chemicals and supportive government policies in the region, which, as a result, is expected to be highly conducive for the growth of the APAC market.

Moreover, consistent growth in the population has been resulting in surging foreign crude imports, leading to encouraging the adoption of Bio-Based Chemicals to reduce dependency. Heading with such developments, The APAC Bio-Based Platform Chemicals market would register a CAGR over 13.79% during the review period.

The European region takes the second lead in the Global Bio-Based Platform Chemicals Market. Progressive policies concerning to the reduction of carbon footprint and establishment of programs such as REACH are encouraging the regional market growth, increasing the demand for Bio-Based Chemicals to produce biofuels and biopolymers, among others. European countries such as Spain, Russia, the UK, Italy, and Germany are prominent consumer markets due to the well-developed end-use industries and rising expenditure on innovation & research.

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Bio-Based Platform Chemicals Market - Competitive Analysis

Highly competitive, the Bio-Based Platform Chemicals Market appears to be fragmented due to the presence of many large and small key players. These players alongside, the new entrants churn the competition to gain a competitive advantage. They also incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and technology launch. Manufacturers strive to deliver the best quality, pure, and reliable products based on innovative technologies. They develop a proprietary portfolio of discrete high-quality products available in packaging ranging from small bottles to drum quantities. They also strive to develop the ability to customize the packaging with the requested specifications such as bulk packaging.

Major Players:

Players leading the Global Bio-Based Platform Chemicals Market include Braskem, BioAmber Inc., Qingdao Kehai Biochemistry Co. Ltd., Reverdia, Zhejiang Guoguang Biochemistry Co. Ltd, Cargill Incorporated, Royal DSM NV, AVA Biochem AG, Itaconix PLC, GC Innovation America, GFBiochemicals Ltd, Mitsubishi Chemical Corporation, BASF SE, and LyondellBasell Industries NV, among others.

Industry/ Innovation /Related News:

September 05, 2019 ---- Lygos, Inc. (the US), a biotechnology company active in full-stack biological engineering platform focused sustainable, bio-based chemicals, announced the expansion of its technology platform capabilities. The company had recently commissioned automated equipment to assist its scientists and engineers in optimizing microbe performance.This move has helped accelerate fermentation development and scale operations to meet the growing demand for sustainable bio-based specialty chemicals & ingredients. These investments are expected to create new organisms capable of producing products that are currently made from harmful petroleum processes or are otherwise limited in supply.

June 06, 2019 ---- Genomatica (the US), a technology leader for bio-based chemicals, announced the acquisition of certain assets of the REG Life Sciences division (REG LS) of Renewable Energy Group, Inc. (the US), the largest supplier of advanced biofuels in North America. The company intends to use these assets to develop a broader range of sustainable chemicals, which, are used to make several everyday materials and products.

The acquisition provides Genomatica with its third major product platform, allowing it to expand into the household and industrial cleaning products, and flavors & fragrances, further growing its ingredients for the apparel, packaging & personal care markets.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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Bio-Based Platform Chemicals Market Driving Factors, Industry Analysis, Investment Feasibility and Trends, Outlook -2023

Global Bio-Based Platform Chemicals Market Overview

The latest analysis was conducted by Market Research Future (MRFR) on Bio-Based Platform Chemicals. As per their report, the Global Bio-Based Platform Chemicals Market is expected to showcase a strong growth trajectory over the next few years. The Bio-Based Platform Chemicals Market is expected to exhibit a 12.67% CAGR over the forecast period.

Increasing awareness of the environment has propelled the adoption of sustainable materials. Such rising utilization of sustainable materials is a primary factor contributing to the ascension of the Global Bio-Based Platform Chemicals Market.

Furthermore, bio-based platform chemicals have a vast scope for application in the manufacturing sector. 

Pharmaceutical solvents, as well as perfumes, contain bio-based platform chemicals, among other consumer products. A rising disposable income has led to higher demand for such products, which, in turn, is promoting a higher growth rate in the Global Bio-Based Platform Chemicals Market.

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Governments have initiated various regulations curbing the use of petroleum-based chemicals, creating many growth avenues for the Bio-Based Platform Chemicals Market. Further, the introduction of various policies in favor of eco-friendly products is contributing heavily to the ascension of the Bio-Based Platform Chemicals Market. However, the capital and energy-intensive nature of Bio-Based Platform Chemicals have created many challenges for market vendors in the market.

Key Players:

Some distinguished market vendors are mentioned in the report by MRFR including BASF SE, Mitsubishi Chemical Corporation, Itaconix PLC, GC Innovation America, AVA Biochem AG, Zhejiang Guoguang Biochemistry Co. Ltd, Reverdia, BioAmber Inc., Qingdao Kehai Biochemistry Co. Ltd., Braskem, Cargill Incorporated, GFBiochemicals Ltd, Royal DSM NV, and LyondellBasell Industries NV.

Industry Update:

July 2019: Genomatic recently acquired assets of REG Life Sciences to create more technological solutions to help brands and their suppliers meet the upscaling consumer demand through the incorporation of bio-based and renewable chemicals. Genomatic is a technology giant for bio-based chemicals.

Market Segmentation:

The Global Bio-Based Platform Chemicals Market is analyzed in detail for different types of Bio-Based Platform Chemicals as well as their applications in different commodities and industries. The Global Bio-Based Platform Chemicals have a vast range of application in the manufacturing of polymers, solvents, pharmaceuticals, fuels, and perfumes. The production of polymers in on the rise and is demanding the highest amount of Bio-Based Platform Chemicals over the forecast period. This booming consumption of Bio-Based Platform Chemicals in the manufacture of the polymer can be attributed to the fast depletion of fossil fuel-based chemicals. Further, strict regulations have been introduced by the government on fossil fuel-based chemicals, which have encouraged polymer manufacturers to shift towards the use of Bio-Based Platform Chemicals. The demand for Bio-Based Platform Chemicals, for the production of polymers, is expected to expand at 13.74% CAGR over the assessment period.

Different types of Bio-Based Platform Chemicals studied in the report include biogas, syngas oil, algae, and sugar. The demand for sugar attributes to more than 40% of the total consumption of Bio-Based Platform Chemicals. The use of sugar is expected to upscale at a fast rate over the review period. At the beginning of the assessment period, sugar sold worldwide was valued at USD 2174.7 million.

Detailed Regional Analysis:

The Global Bio-Based Platform Chemicals Market is studied for various regional segments of Asia Pacific, Latin America, North America, the Middle East & Africa, and Europe. Among these segments, the APAC region is estimated to lead the Global Bio-Based Platform Chemicals Market. At the beginning of the review period, Asia Pacific held approximately 41% share of the Global Bio-Based Platform Chemicals Market. Asia Pacific is expected to witness a 13.79% CAGR over the forecast period. This can be attributed to the renewable feedstock and the introduction of favorable government regulations encouraging the adoption of Bio-Based Platform Chemicals. Further, research and development are highly supported by governments residing in the region to promote the use of Bio-Based Platform Chemicals. Europe and North America are expected to follow the APAC region and exhibit fast-paced growth in the bio-Based Platform Chemicals Market.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact: Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com

Bio-Based Platform Chemicals Market Global Demand, Growth, Opportunities, Top Key Players and Forecast to 2023

Market Synopsis:

Market Research Future (MRFR) proclaims that the Global Bio-Based Platform Chemicals Market is predicted to garner USD 10,205.4 million, grabbing an impressive CAGR during the forecast period (2018-2023). The surging application of Bio-Based Platform Chemicals in consumer goods is likely to encourage the market globally. Bio-Based Platform Chemicals are referred to as compounds which consist of two to six carbons and are derived from renewable resources. They are widely used as important precursors in the production of a variety of materials and chemicals like perfumes, pharmaceuticals, fuels, solvents, and polymers. Several bioplastics like bio-polyethyleneteraphthalate, polylactic acid, polyhydroxyalkanoates, and bio-polyethylene are produced from Bio-Based Chemicals and are extensively used in crockery, cutlery, pots, straws, and bowls.

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Industry Updates:

April 09, 2019:  A French biotech company, DEINOVE uses a disruptive approach in order to develop bio-based active ingredients and innovative antibiotics for nutrition and cosmetics, has recently  announced that the company will benefit from the Institute Pasteur’s provision of biological resources for research of new antimicrobial agents.

Competitive Dashboard:

The prominent players operating in the Bio-Based Platform Chemicals Market comprises AVA Biochem AG, LyondellBasell Industries NV, Qingdao Kehai Biochemistry Co. Ltd., Itaconix PLC, Mitsubishi Chemical Corporation, Royal DSM NV, Zhejiang Guoguang Biochemistry Co. Ltd, BioAmber Inc., GC Innovation America, GFBiochemicals Ltd, Cargill Incorporated, BASF SE, Braskem, and Reverdia.

Market Potential and Pitfalls:

The Bio-Based Platform Chemicals Market is likely to gain impetus in the coming years owing to an increased demand in applications like construction, consumer goods, and automotive vehicles. The increased use of fossil fuels has led to environment concerns across the world owing to the negative impact of the petroleum-based polymers. Strict mandates have been imposed in order to limit the carbon footprint, which is increasing the adoption of Bio-Based Platform Chemicals across the globe. The European Commission has set up the REACH initiative for Registration, Evaluation, Authorization, and Restriction of Chemicals. With the overall shift in consumer preference towards products which are environmentally safe coupled with the rising concern regarding the emission of carbon, the Bio-Based Platform Chemicals Market is predicted to foster. The market is booming across the globe owing to their sustainability and low carbon footprint, when compared to other conventional polymers. The dependency on fossil fuels has reduced for the production of polymers which is widely used in a large number of applications, thereby fueling the demand for Bio-Based Platform Chemicals.

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On the Contrary, Bio-Based Chemicals are considered an expensive procedure which is energy and capital intensive. This is likely to impede the market growth in the coming years as petroleum-based chemicals are very cheap to produce. On a brighter note, with technological advancements, cost of production is likely to reduce in the long run.

Global Bio-Based Platform Chemicals Market: Segmental Analysis

The Global Bio-Based Platform Chemicals Market has been segmented on the basis of Type and Application.

By Mode of Type, the Global Bio-Based Platform Chemicals Market has been segmented into oil, syngas, algae, biogas, sugar and others. Among these, the sugar segment commands the major share with 43% and is estimated to remain lucrative in the coming years due to the widespread availability of carbohydrates derived from lignocellulosic biomass.

By Mode of Application, the Global Bio-Based Platform Chemicals Market has been segmented into solvents, polymers, pharmaceuticals, fuels, perfumes and others. Among these, the polymer segment is considered remain highly attractive during the appraisal period. The growth is ascribed to the rapid depletion of the fossil fuel-based chemicals.

Regional Insights:

Geographically, Global Bio-Based Platform Chemicals Market span across regions namely, Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.

Considering the global scenario, the Asia Pacific region was valued at USD 2,078.4 million at 2017 and is anticipated to generate USD 4,488.2 million by the end of the forecast period. The growth is ascribed to the high availability of abundant renewable feedstock coupled with the government policies. The region has a large growing population which has further led to a surge in foreign crude imports, further encouraging the adoption of Biobased Chemicals in this region. Japan, India, and China are some of the most significant contributors in this region. The extensive R&D activities in biotechnology in China are likely to contribute to the expansion of the market. The region is estimated to expand at the highest CAGR of 13.79% in the coming years.

The European region is likely to occupy the second spot in the global market owing to the progressive policies associated with the reduction of carbon footprint. Moreover, the implementation of programs like REACH is further influencing the growth of the market in this region. Strict mandates in order to limit the carbon emissions are intensifying the demand for Bio-Based Chemicals for the production of bio-fuels.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact: Market Research Future
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Email: sales@marketresearchfuture.com

Bio-Based Platform Chemicals Market New Industry Research on Present State & Future Growth Prospects by 2023

Market Research Future (MRFR) in its latest study reveals that the global market for Bio-Based Platform Chemicals will exhibit a healthy CAGR of 12.67% during the assessment period (2018-2023). The market is expected to surpass a valuation of USD 10,200 Mn by the year 2023. The study also finds that in 2017, close to 3,416.0 kilo tons of Bio-Based Platform Chemicals were shipped globally. The growing application of the product has augured well for suppliers. There is a strong demand for such chemicals in the Bio-Based Polymers manufacturing industry. Over the years, Bio-Based Polymers have become extensively popular owing to their innate characteristics. They comply with most environmental requirements, which makes them a sought-after industrial material. These polymers are used for manufacturing a variety of consumer goods as well as used in automotive and building & construction sectors.

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Policy reforms and enforcement of stricter laws on use of petroleum-based chemicals is creating opportunities for Bio-Based Platform Chemicals. At the same time, introduction of favourable policies for eco-friendly products is also boosting Bio-Based Platform Chemicals. However, challenges remain formidable for market players as Bio-Based Chemical manufacturing continue to be capital and energy-intensive. Moreover, it requires a certain level of technological expertise that most lack.

Global Bio-Based Platform Market: Competitive Landscape

MRFR in its report has mentioned some of the top companies that are currently operating in the Bio-Based Platform Chemicals Market, which include BASF SE, Mitsubishi Chemical Corporation, GC Innovation America, Itaconix PLC, AVA Biochem AG, Reverdia, Zhejiang Guoguang Biochemistry Co. Ltd, BioAmber Inc., Braskem, Qingdao Kehai Biochemistry Co. Ltd., Cargill Incorporated, Royal DSM NV, GFBiochemicals Ltd, and LyondellBasell Industries NV.

Global Bio-Based Platform Market: Segmental Analysis

A thorough segmental analysis of the market based on application and type is also available in the report. On the basis of Application, the market has been segmented into polymers, solvents, fuels, pharmaceuticals, perfumes and others. Among these, the polymer segment is expected to remain highly attractive in 2018 and beyond. Currently, the segments account for more than one-third share of the market. This is primarily owing the fast depletion of fossil fuel-based chemicals. Stringent regulations are being levied on the fuel-based chemical industry, which is prompting polymer manufacturers to look for other viable options. During the forecast period, the polymer segment is projected to grow at a CAGR of 13.74% during the review period.

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On the basis of Types, the market has been segmented into syngas, oil, biogas, algae, sugar and others. The sugar segment currently commands for more than 43% share of the market and is likely to remain highly attractive throughout the assessment period. In 2017, nearly USD 2,174.7 Mn worth sugar-based platform chemicals were sold worldwide. This is primarily owing to the widespread availability of carbohydrates derived from lignocellulosic biomass.

Global Bio-Based Platform Market: Regional Analysis

The market has been covered across North America, South America, Europe, Asia Pacific (APAC) and the Middle East & Asia Pacific (APAC). Asia Pacific is expected to spearhead the Global Bio-Based Platform Market during the forecast period. The region accounted for more than 41% market share. The region’s market is expected to expand at a robust CAGR of 13.79% by 2023. Demand for Bio-Based Platform Chemicals has increased substantially in the region. The availability of renewable feed stock along with the introduction favourable government policies is contributing to growth of the market in the region. During the forecast period, China is expected to remain the key market in the region followed by Japan and India. Governments in these countries are promoting research and development efforts in biotechnology, which is aiding the expansion of Bio-Based Platform Chemicals. Apart for APAC, Europe and North America are two regions that expected present substantial business opportunities to market players in the forthcoming years.

Research Methodology:

MRFR's in-depth proprietary research methods adhere to industry benchmark. The research crux exemplifies the use of primary and secondary research procedures to distill raw data into objective and actionable insights. The research findings are aimed at supporting the core foundation of decision making in business. A multi-layer approach employed for data verification and validation, ensuring the delivery of accurate and precise market data which can be used for the achievement of mission-critical priorities. Top-down and bottom-up approaches are utilized to estimate and illustrate the overall size of the market.

Other Description

Market Denomination- USD Mn

Base Year- 2017

Forecast Period- from 2018 to 2023

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact: Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com

Bio-Based Platform Chemicals Market 2019 Segmentation, Application, Technology & Market Analysis Research Report to 2023

Global Bio-Based Platform Market: Segmental Analysis

A thorough segmental analysis of the market based on Application and Type is also available in the report.

On the basis of Application, the market has been segmented into polymers, solvents, fuels, pharmaceuticals, perfumes and others. Among these, the polymer segment is expected to remain highly attractive in 2018 and beyond. Currently, the segments account for more than one-third share of the market. This is primarily owing the fast depletion of fossil fuel-based chemicals. Stringent regulations are being levied on the fuel-based chemical industry, which is prompting polymer manufacturers to look for other viable options. During the forecast period, the polymer segment is projected to grow at a CAGR of 13.74% during the review period.

On the basis of Types, the market has been segmented into syngas, oil, biogas, algae, sugar and others. The sugar segment currently commands for more than 43% share of the market and is likely to remain highly attractive throughout the assessment period. In 2017, nearly USD 2,174.7 Mn worth sugar-based platform chemicals were sold worldwide. This is primarily owing to the widespread availability of carbohydrates derived from lignocellulosic biomass.

Global Bio-Based Platform Market: Competitive Landscape

MRFR in its report has mentioned some of the top companies that are currently operating in the Bio-Based Platform Chemicals Market, which include BASF SE, Mitsubishi Chemical Corporation, GC Innovation America, Itaconix PLC, AVA Biochem AG, Reverdia, Zhejiang Guoguang Biochemistry Co. Ltd, BioAmber Inc., Braskem, Qingdao Kehai Biochemistry Co. Ltd., Cargill Incorporated, Royal DSM NV, GFBiochemicals Ltd, and LyondellBasell Industries NV.

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Market Insights:

Market Research Future (MRFR) in its latest study reveals that the global market for Bio-Based Platform Chemicals will exhibit a healthy CAGR of 12.67% during the assessment period (2018-2023). The market is expected to surpass a valuation of USD 10,200 Mn by the year 2023. The study also finds that in 2017, close to 3,416.0 kilo tons of bio-based platform chemicals were shipped globally. The growing application of the product has augured well for suppliers. There is a strong demand for such chemicals in the bio-based polymers manufacturing industry.  Over the years, bio-based polymers have become extensively popular owing to their innate characteristics. They comply with most environmental requirements, which makes them a sought-after industrial material. These polymers are used for manufacturing a variety of consumer goods as well as used in automotive and building & construction sectors.

Policy reforms and enforcement of stricter laws on use of petroleum-based chemicals is creating opportunities for bio-based platform chemicals. At the same time, introduction of favourable policies for eco-friendly products is also boosting Bio-Based Platform Chemicals. However, challenges remain formidable for market players as bio-based chemical manufacturing continue to be capital and energy-intensive. Moreover, it requires a certain level of technological expertise that most lack.

Global Bio-Based Platform Market: Regional Analysis

The market has been covered across North America, South America, Europe, Asia Pacific (APAC) and the Middle East & Asia Pacific (APAC). Asia Pacific is expected to spearhead the Global Bio-Based Platform Market during the forecast period. The region accounted for more than 41% market share. The region’s market is expected to expand at a robust CAGR of 13.79% by 2023. Demand for Bio-Based Platform Chemicals has increased substantially in the region. The availability of renewable feed stock along with the introduction favourable government policies is contributing to growth of the market in the region. During the forecast period, China is expected to remain the key market in the region followed by Japan and India. Governments in these countries are promoting research and development efforts in biotechnology, which is aiding the expansion of bio-based platform chemicals. Apart for APAC, Europe and North America are two regions that expected present substantial business opportunities to market players in the forthcoming years.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact: Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com