The global bio-based platform chemicals market size reached US$ 17.4 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 34.8 Billion by 2032, exhibiting a growth rate (CAGR) of 8.01% during 2023-2032.
Bio-based platform chemicals refer to the group of chemical compounds manufactured by breaking down and processing biological materials. Some of the commonly used bio-based platform chemicals include bio-glycerol, glutamic acid, itaconic acid, bio-3-hydroxypropionic acid and succinic acid. They are manufactured using amino acids, carboxylic acids, isoprene, propane, short-chain olefins, butanediols and ethanol. These chemicals act as a crucial ingredient for manufacturing chemicals and materials with improved functionalities and are used in the production of polymers, adhesives, fibers, plastic packaging, resins and cleaning agents.
Significant growth in the chemical and pharmaceutical industries represents one of the key factors creating a positive outlook for the market. In line with this, the widespread adoption of bio-itaconic acid (IA) as an alternative to petrochemical-derived products is also contributing to the market growth. IA is used as an organic compound in the manufacturing of shampoos, detergents, and various pharmaceutical products as it can dissolve in various alcohols, such as methanol, ethanol and propanol. Furthermore, increasing demand for environment-friendly and bio-based chemicals is also driving the market growth.
Additionally, various product innovations, such as the development of superabsorbent polymers (SAPs), are acting as other growth-inducing factors. SAPs exhibit superior water-absorbing capabilities and are thus used for the production of diapers, adult incontinence pads, absorbent medical dressings, and controlled release drugs. Other factors, including the implementation of favorable government policies promoting sustainable development, along with extensive research and development (R&D) activities in the field of green chemistry, are anticipated to drive the market further.
2. What is the expected growth rate of the global bio-based platform chemicals market during 2024-2032?
3. What are the key factors driving the global bio-based platform chemicals market?
4. What has been the impact of COVID-19 on the global bio-based platform chemicals market?
5. What is the breakup of the global bio-based platform chemicals market based on the chemical?
6. What is the breakup of the global bio-based platform chemicals market based on the feedstock?
7. What is the breakup of the global bio-based platform chemicals market based on the end use industry?
8. What are the key regions in the global bio-based platform chemicals market?
9. Who are the key players/companies in the global bio-based platform chemicals market?
Bio-based platform chemicals refer to the group of chemical compounds manufactured by breaking down and processing biological materials. Some of the commonly used bio-based platform chemicals include bio-glycerol, glutamic acid, itaconic acid, bio-3-hydroxypropionic acid and succinic acid. They are manufactured using amino acids, carboxylic acids, isoprene, propane, short-chain olefins, butanediols and ethanol. These chemicals act as a crucial ingredient for manufacturing chemicals and materials with improved functionalities and are used in the production of polymers, adhesives, fibers, plastic packaging, resins and cleaning agents.
Significant growth in the chemical and pharmaceutical industries represents one of the key factors creating a positive outlook for the market. In line with this, the widespread adoption of bio-itaconic acid (IA) as an alternative to petrochemical-derived products is also contributing to the market growth. IA is used as an organic compound in the manufacturing of shampoos, detergents, and various pharmaceutical products as it can dissolve in various alcohols, such as methanol, ethanol and propanol. Furthermore, increasing demand for environment-friendly and bio-based chemicals is also driving the market growth.
Additionally, various product innovations, such as the development of superabsorbent polymers (SAPs), are acting as other growth-inducing factors. SAPs exhibit superior water-absorbing capabilities and are thus used for the production of diapers, adult incontinence pads, absorbent medical dressings, and controlled release drugs. Other factors, including the implementation of favorable government policies promoting sustainable development, along with extensive research and development (R&D) activities in the field of green chemistry, are anticipated to drive the market further.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the global bio-based platform chemicals market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on chemical, feedstock and end use industry.Breakup by Chemical:
- Bio Glycerol
- Bio Glutamic Acid
- Bio Itaconic Acid
- Bio-3-Hydroxypropionic Acid
- Bio Succinic Acid
- Others
Breakup by Feedstock:
- Sugar
- Syngas
- Biogas
- Oil
- Others
Breakup by End Use Industry:
- Polymers
- Solvents
- Fuels
- Pharmaceuticals
- Perfumes
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BASF SE, Braskem S/A (Odebrecht), Cargill Incorporated, DuPont de Nemours Inc., Itaconix Corporation, Koninklijke DSM N.V., LyondellBasell Industries N.V., Novozymes A/S, PTT Global Chemical Public Company Limited and Yield10 Bioscience Inc.Key Questions Answered in This Report
1. How big is the global bio-based platform chemicals market?2. What is the expected growth rate of the global bio-based platform chemicals market during 2024-2032?
3. What are the key factors driving the global bio-based platform chemicals market?
4. What has been the impact of COVID-19 on the global bio-based platform chemicals market?
5. What is the breakup of the global bio-based platform chemicals market based on the chemical?
6. What is the breakup of the global bio-based platform chemicals market based on the feedstock?
7. What is the breakup of the global bio-based platform chemicals market based on the end use industry?
8. What are the key regions in the global bio-based platform chemicals market?
9. Who are the key players/companies in the global bio-based platform chemicals market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Bio-based Platform Chemicals Market
6 Market Breakup by Chemical
7 Market Breakup by Feedstock
8 Market Breakup by End Use Industry
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- BASF SE
- Braskem S/A (Odebrecht)
- Cargill Incorporated
- DuPont de Nemours Inc.
- Itaconix Corporation
- Koninklijke DSM N.V.
- LyondellBasell Industries N.V.
- Novozymes A/S
- PTT Global Chemical Public Company Limited
- Yield10 Bioscience Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 135 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 17.4 Billion |
| Forecasted Market Value ( USD | $ 34.8 Billion |
| Compound Annual Growth Rate | 8.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
