Global Bio-Based Platform Chemicals Market, By Chemical (Bio-1/4-Diacid, Bio-Glycerol, Bio-Glutamic Acid, Bio-3-Hydroxypropionic Acid, Bio-Itaconic Acid), Type (Sugar, Syngas, Biogas, Oil, Algae, Others), Application (Polymers, Fuels, Solvents, Pharmaceuticals, Perfumes, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Bio-Based Platform Chemicals Market
Global Bio-Based Platform Chemicals Market is expected to rise from its initial estimated value of USD 5.58 billion in 2018 to an estimated value of USD 14.59 billion by 2026, registering a CAGR of 12.75% in the forecast period of 2019-2026. This rise in market value can be attributed to the growing demand of the various applicable industries.
Market Definition: Global Bio-Based Platform Chemicals Market
Bio-based platform chemicals can be defined as the method of producing chemicals and materials that are manufactured through the breaking down and processing of bio based materials. This method is used to produce a number of chemicals and materials that have better functionality and have the capabilities of being transformed into a number of other chemicals.
- Presence of strict regulations regarding the usage of petrol-based chemicals is also expected to drive the market growth
- Growing demand and applications from the various industries for the product is also expected to drive the market growth
- Complications in production and in technology; is expected to act as a restraint to the market growth
- High cost of production caused due to the shortage of raw materials is expected to act as a restraint to the market growth
Segmentation: Global Bio-Based Platform Chemicals Market
- By Chemical
- Bio-Glutamic Acid
- Bio-3-Hydroxypropionic Acid
- Bio-Itaconic Acid
- Bio-Succinic Acid
- By Type
- By Application
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In August 2018, LyondellBasell Industries Holdings B.V. announced the completion of its acquisition of A. Schulman, increasing the size and capabilities of various plastics and chemicals industries helping it serve a broader market.
- In June 2018, LyondellBasell Industries Holdings B.V. announced an agreement to acquire Braskem.
Competitive Analysis: Global Bio-Based Platform Chemicals Market
Global bio-based platform chemicals market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of bio-based platform chemicals market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Bio-Based Platform Chemicals Market
Few of the major competitors currently working in the bio-based platform chemicals market are Braskem, IP Group plc, GFBiochemicals Ltd., Reverdia, GC Innovation America, Cargill Incorporated, Mitsubishi Chemical Corporation, Ava Biochem BSL AG, LyondellBasell Industries Holdings B.V., Koninklijke DSM N.V., BASF SE, Lucite International, Inneos LLC, Alpha Chemika, DowDuPont, Dairen Chemical Corporation (DCC), PTT Global Chemical Public Company Limited, Novozymes, Prinova Group LLC, Yield10 Bioscience Inc., and Zhejiang Guoguang Biochemistry Co.Ltd.
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 analysed 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 an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved