Jan 26, 2022   SOURCE: BusinessWire

Global Bio-based Platform Chemicals Market to 2027: Rapid Rise in the Demand for Sustainable Materials to Influence Growth - ResearchAndMarkets.com

The "Global Bio-based Platform Chemicals Market (2021-2027) by Type and Geography, Impact of Covid-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Bio-based Platform Chemical Market is estimated to be USD 14.4 Bn in 2021 and is expected to reach USD 29.35 Bn by 2027 growing at a CAGR of 12.6%.

Chemicals are manufactured through various processing techniques with the help of bio-mass. Certain chemicals which convert biomass to fuels, heat, power and other value added chemicals through their conversion process are known as platform chemicals.

The platform chemicals which are derived from the feed-stocks of biomass are known as bio based platform chemicals. The bio-based platform chemicals usually have a wide application in manufacturing industries thus the scope of this market is extensive by nature. These products serve as a suitable alternative to conventional chemicals as they help in reducing the growing dependence on fossil fuels.

As these chemicals have their implications across industry wide domains, and companies are adapting themselves towards sustainable products, the market for bio-based platform chemicals is growing. Alternatively, the production costs associated in comparison to the conventional resources hamper the growth of this market.

Market Dynamics

Drivers

  • Availability of low-cost feedstock
  • Application in diverse manufacturing industries
  • Limited reserves of non-renewable resources
  • Favourable Government Regulations

Restraints

  • High Production Costs
  • Shortage of raw material
  • High competition faced from oil-based platform chemicals
  • Fluctuations in crude oil prices

Opportunities

  • Increasing demand in the pharmaceutical Industry
  • Rise in technological modification

Trends

  • Rapid rise in the demand for sustainable materials

Company Profiles

  • Succinity GmbH
  • Bio-Amber Inc.
  • Myriant Corporation
  • Novozymes
  • Cargill, Inc.
  • DSM
  • Metabolix, Inc.
  • GF Biochemicals
  • E.I. du Pont de Nemours and Company
  • Prinova LLC
  • BASF SE
  • Parchem fine & specialty chemicals Inc.
  • DowDuPont
  • Koninklijke DSM N.V
  • Braskem

Competitive Quadrant

The report includes the Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score.

The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share etc.

Report Highlights:

  • A complete analysis of the market including parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market

For more information about this report visit https://www.researchandmarkets.com/r/lmf2ys