Dec 6, 2018   SOURCE: BusinessWire

Bio-Based Chemical Market: Global Forecasts to 2023 by Type of Product, End-User and Geography - ResearchAndMarkets.com

The "Bio Based Chemical Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.

The bio-based chemicals market is projected to expand at a CAGR of 14.55% over the forecast period of 2017-2023.
Climate change and depletion of fossil feedstocks are the key driving factors that are boosting the demand for bio-based chemicals. Growing global environmental awareness and sharp rise in oil prices are compelling manufacturers in this market to look for alternative sources to replace traditional petroleum in developing various products.
Government initiatives to encourage sustainable products and processes across various industries to reduce carbon dioxide emissions is playing an integral role in the bio-based chemicals market growth.
The market is expected to grow at a steady pace over the forecast period owing to the increased R&D activities in this field by various companies and governments to encourage use of sustainable products and to promote green chemicals. However, high production cost of these chemicals can restrain the growth of the market.
By type of product, the bio-based chemicals market is segmented as bioplastics, polylactic acid (PLA), plant oils, biosolvents and others. Others include bio lubricants, biosurfactants, polyhydroxyalkanoates and etc. Bioplastics holds a significant share in the market owing to its increased usage in a variety of products including packaging, consumer electronics, coating, and construction and biomedical materials.

By end-user, the bio-based chemicals market is segmented as energy and power, chemical, packaging, and others. Others include automobile, aviation, and healthcare. Packaging holds a significant share in the market owing to the majority of bio-based products being utilized in this industry.

The bio-based chemical market is at the nascent stage and market competition is moderate. The key players are adopting strategies such as product launch, collaborations, and huge investments in R&D to produce bio-based chemicals for a number of industries.
For an instance, BASF SE in April 2017, launched the new Ultramid Flex F, which is suitable for soft packaging. The key players are BASF SE, Eastman Chemical Company, Corbion, BioAmber Inc., Mitsubishi Chemical Corporation, Mitsui & Co., Inc., DSM and POET, LLC among others.

Key Topics Covered

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics

5. Bio-Based Chemicals Market by Type of Product

6. Bio-Based Chemicals Market by End-User

7. Bio-Based Chemicals Market by Geography

8. Competitive Intelligence

9. Company Profiles

  • BASF SE
  • Eastman Chemical Company
  • Corbion
  • BioAmber Inc.
  • Mitsubishi Chemical Corporation
  • Mitsui & Co. Inc.
  • Gevo
  • POET LLC
  • DSM

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