A new study by Fact.MR states that, the depletion of fossil fuels and strict regulations associated with environment pollution are key factors that are aiding the adoption of bio-based platform chemicals. Rapid growth of the green chemistry sector will also contribute to developments in the industry.
Strong growth of disposable income and wide scope of applications, including agrochemicals, cosmetics, plastics, and chemical reactions, are likely to aid the growth of the bio-based platform chemicals market over the coming years. Players in the market are increasingly using eco-friendly and biodegradable offerings to improve market accessibility through supply and distribution channels. Investments in research for biocatalysts and easy access to biomass feedstock are likely to positively impact production, allowing for better product quality without substantial changes to the composition of the end product.
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Key Points Covered in Bio-Based Platform Chemicals Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Bio-based Feedstock
- Bio-based Platform Chemicals Market Growth to 2031
- Brand Share and Market Share Analysis
- Bio-based Platform Chemicals Market Size in 2021
- Key Product Innovations and Regulatory Climate
- Assessment by Product Grade / Purity / Formulation Standards
- Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
- Certifications and Compliance Requirements
- Trends of Bio-glycerol in 2021
- Bio-based Glutamic Acid Market
- COVID-19 Impact on Demand for Bio-Based Platform Chemicals and How to Navigate
- Recommendation on Key Winning Strategies
Key Takeaways from Bio-based Platform Chemicals Market Report
- Strict regulations on petroleum-based products and application in drug development to generate growth opportunities.
- Consumer preference towards eco-friendly offerings and tech innovations will provide impetus to players in the bio-based platform chemicals market.
- Bio-glycerol holds a major market share with a wide scope of application in food & beverages, pharmaceuticals, and cosmetics.
- North America is a dominant bio-based platform chemicals market, driven by significant investments into the pharma sector, in addition to strict environment regulations.
- The COVID-19 pandemic will result in short-term decline in the growth of the bio-based platform chemicals market, but long-term prospects look bright.
Key Segments in Bio-Based Platform Chemicals Industry Research
- C-3 Platform Chemicals
- Bio-based Glycerol
- Bio-3-Hydroxypropionic Acid
- C-4 Platform Chemicals
- Bio-based Succinic Acid
- Bio-based Fumaric Acid
- Bio-based Malic Acid
- Bio-based Aspartic Acid
- C-5 Platform Chemicals
- Bio-based Levulinic Acid
- Bio-based Glutamic Acid
- Bio-based Itaconic Acid
- Bio-based Xylitol
- C-6 Platform Chemicals
- Bio-based Sorbitol
- Bio-based Glucaric Acid
- Bio-based 2,5-Furan Dicarboxylic Acid
- C-3 Platform Chemicals
- Bio-based Platform Chemicals for Polymers
- Bio-based Platform Chemicals for Plastic Formulation
- Bio-based Platform Chemicals for Bio-fuel
- Bio-based Platform Chemicals for Cosmetics
- Bio-based Platform Chemicals for Paints & Coatings
- Bio-based Platform Chemicals for Solvents
- Bio-based Platform Chemicals for Pharmaceuticals
Product Research Efforts to Provide Impetus to Bio-based Platform Chemicals Market
The bio-based platform chemicals market is moderately consolidated in nature, and is characterized by significant market share among market leaders in terms of volume and value.
Leading players are focused on strategic collaborations with the aim of bolstering scope of applications for bio-based platform chemicals, generating new revenue streams in the years to come.
- Arzeda announced the expansion of its protein design platform, aimed towards applications in the commercial deployment of designer enzymes in the food sector, for the development of sustainable, nutritional ingredients.
- Cargill and Virent Inc have joined hands to analyze the scope of applications for corn dextrose, to be used as a feedstock with the help of bio-forming technology for low-carbon bio-fuels and biochemicals.