Bio-based Platform Chemicals Market to Expand with Significant CAGR During 2026 by omkartmr · January 11 Montez Sweat Youth Jersey , 2019
A variety of chemicals can be manufactured with the help of bioprocessing techniques using biomass. Common examples of chemicals manufactured through bioprocessing or with the help of biomass include amino acids, carboxylic acids, isoprene, propane, short chain olefins, butanediols, ethanol, vitamins, polymers such as alginate and xanthan gum and commercially viable industrial enzymes that find usage as additives in products such as washing powder. Bio-based platform chemicals are a group of chemicals manufactured from sugar via the process of biological conversions. This group of chemicals contains molecules with a variety of functional groups, carrying the potential of getting transformed into a variety of other high-value chemicals.
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The report presents a 360-degree view of the market and analyzes it in a ground up manner. The report presents detailed data about market鈥檚 key elements. The report analyzes these market elements on a global level for a broader overview as well as a regional level for a much detailed overview. The report incorporates a number of analytical techniques to filter out the most important business-related data from the vast amount of qualitative and quantitative data gathered with the help of a number of primary and secondary research methodologies.
Global Bio-based Platform Chemicals Market: Trends and Opportunities
The global market for bio-based platform chemicals market has witnessed significant evolution over the past few years owing to rising demand in the face of increased demand from industries, rising regulations on the use of conventional petroleum-derived chemicals, and the rising inclination of consumers on environment-friendly products. As the demand for eco-friendly products across industries gathers strength and companies focus on the development of more effective varieties of bio-based platform chemicals, the market is also expected to expand at an impressive pace in the next few years.
However, the high popularity and well-rooted application areas of fossil-fuel products continue to challenge the growth prospects of the market to a certain degree. Nevertheless, encouraging government reforms and attempts made for increasing awareness among consumers could help companies operating in the global bio-based platform chemicals market gain traction.
Global Bio-based Platform Chemicals Market: Geographical and Competitive Dynamics
Geographically, the market for bio-based platform chemicals has been examined for regions such as Asia Pacific, North America, Europe, Latin America, Europe, and Middle East and Africa. Of these, the market in Asia Pacific is presently the leading revenue contributor to the global market, thanks to the rising concerns pertaining to the ill-effects of petroleum-based chemicals on the environment and the increased numbers of regulatory reforms mandating the increased uptake of bio-based chemicals in a number of applications. Moreover, the strong development prospects of the manufacturing sector in countries such as India, China, and Japan also supplement the growth prospects of the bio-based platform chemicals in the regional market.
The markets in Europe and North America are also treading along a healthy growth path and efforts are being focused on the expansion of manufacturing facilities to provide increased volumes of these chemicals for a number of applications. In Middle East and Africa and Latin America, the market is expected to witness a vast rise in valuation in the next few years owing to increased demand from key end-use industries. The market in Latin America will be chiefly driven by the rising prices of raw materials required for the production of petroleum-based chemicals, increased numbers of reforms, and increased awareness among consumers.
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With a rising number of companies ploughing increased funds into the development of bio-based platform chemicals, the level of competition in the market has significantly intensified. Some of the leading companies in the market are Myriant Technologies LLC, BASF, Itaconix Corporation, Cargill Incorporated, Lucite International Group, Royal DSM, BioAmber Inc., INNEOS, Alpha Chemika, and Braskem.
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