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Bio-based Platform Chemicals Market Report by Chemical (Bio Glycerol, Bio Glutamic Acid, Bio Itaconic Acid, Bio-3-Hydroxypropionic Acid, Bio Succinic Acid, and Others), Feedstock (Sugar, Syngas, Biogas, Oil, and Others), End Use Industry (Polymers, Solvents, Fuels, Pharmaceuticals, Perfumes, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A3064
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Market Overview:
The global bio-based platform chemicals market size reached US$ 17.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 34.8 Billion by 2032, exhibiting a growth rate (CAGR) of 7.8% during 2024-2032.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023 |
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Forecast Years
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2024-2032 |
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 17.4 Billion |
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Market Forecast in 2032
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US$ 34.8 Billion |
| Market Growth Rate 2024-2032 | 7.8% |
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.
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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.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Key Market Segmentation:
IMARC Group 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:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- 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:
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- 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.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Chemical, Feedstock, End Use Industry, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | 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. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global bio-based platform chemicals market was valued at US$ 17.4 Billion in 2023.
We expect the global bio-based platform chemicals market to exhibit a CAGR of 7.8% during 2024-2032.
The increasing demand for bio-based platform chemicals as an essential ingredient for manufacturing chemicals and materials with improved functionalities is primarily driving the global bio-based platform chemicals market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous production activities for bio-based platform chemicals.
Based on the chemical, the global bio-based platform chemicals market can be segmented into bio glycerol, bio glutamic acid, bio itaconic acid, bio-3-hydroxypropionic acid, bio succinic acid, and others. Currently, bio succinic acid holds the majority of the total market share.
Based on the feedstock, the global bio-based platform chemicals market has been divided into sugar, syngas, biogas, oil, and others. Among these, sugar currently exhibits a clear dominance in the market.
Based on the end use industry, the global bio-based platform chemicals market can be bifurcated into polymers, solvents, fuels, pharmaceuticals, perfumes, and others. Currently, polymers account for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global bio-based platform chemicals market include 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.
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