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Bio-based Platform Chemicals Market to Reach US$ 5.3 Bn by 2031: TMR Study

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News provided by

Transparency Market Research

06 Sep, 2022, 01:30 GMT

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  • Massive utilization in manufacture of solvents and pharmaceuticals steering bio-based platform chemicals market growth; use in blended fuels for transportation sector presents incredible avenue
  • Sizable R&D spending on customized biocatalysts to meet requirements of end-use industries to unlock new revenue streams; preference for bio-based and clean labelling products to spur growth prospects in Asia Pacific market

WILMINGTON, Del., Sept. 6, 2022 /PRNewswire/ -- A recent demand analysis of bio-based platform chemicals market underscores the growing awareness of renewable chemicals in various end-use industries. Incessant research in production processes pertaining to plant-based chemicals has generated massive impetus to fuel sales of bio-based platform chemicals market. The market is projected to advance at a CAGR of 11.9% during the forecast period of 2022-2031.

Rise in R&D spending on development of biocatalysts in bio-based platform chemicals market outlook. In this regard, the study authors observed that ease of availability of biomass feedstock has allowed firms to offer customized biocatalysts. Their adoption is broadening the canvas for businesses in key end-use industries particularly pharmaceuticals, plastics, food, and cosmetics. Emerging trends of the bio-based platform chemicals market underscores a rise in demand for specialty chemicals in pharmaceuticals industry.

Request Sample Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=43019 

Key Findings of Bio-based Platform Chemicals Market Study

  • Rising Use of Biodegradable and Environment-Friendly Chemicals to Bolster Revenue Growth: Emphasis of businesses across industries toward use of biodegradable and environmental-friendly chemicals and sustainable production methods is propelling the commercialization of products in bio-based platform chemicals market. Focus on reducing reliance of feedstocks in the manufacture of solvents is expanding the avenues for producers of bio-based platform chemicals.
  • Massive Demand for Bio-Based Cosmetics Underpins Vast Revenue Prospects: Increasing trend of clean labelling products together with use of bio-based ingredients in the manufacture of personal care products is spurring the demand for bio-based chemicals in the cosmetics industry. Use of bio-based ingredients skin and sun care cosmetic products has unlocked value-grab opportunities for firms in bio-based platform chemicals market. The trend of utilization of plant-based raw materials is also gathering traction in the pharmaceutical and food industries. Of note, xylose is being extensively utilized in the food & beverages sector. The xylose segment is projected to expand at CAGR of 12.9% during the forecast period.
  • Utilization of Glycerol Bio-based Platform Chemicals Provides Lucrative Opportunities: Glycerol has been estimated to be a highly lucrative segment in global bio-based platform chemicals market. It has gained popularity in biodiesel production process. Rising need for bio-based fuel for transportation industry has led to the use of bio-based platform chemicals in blended fuels particularly gasoline blended with ethanol.

Make an Enquiry Before Buying: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=43019 

Bio-based Platform Chemicals Market: Key Drivers

  • Rise in demand for versatile and environmentally friendly chemical is a key driver for the expansion of bio-based platform chemicals market. Advancements in production of bio-based platform chemicals are catalyzing the market evolution.
  • Enormous applications of glycerol bio-based platform chemicals in multiple industries notably plastics and pharmaceuticals industries are accelerating the prospects of the market.

Bio-based Platform Chemicals Market: Regional Dynamics

  • Europe held a major share of the global bio-based platform chemicals market in 2021, when estimated in terms of volume. Massive research in green chemistries and focus of industry stakeholders toward circular economy concepts have spurred the revenue growth of the market.
  • The Asia Pacific bio-based platform chemicals market is projected to expand at rapid pace. Increasing trend for use of bio-based chemicals in various industries has propelled revenue generation in the regional market. Furthermore, widespread commercialization of bioplastics in China has created substantial revenues for players in the regional market.

Bio-based Platform Chemicals Market: Key Players

  • Mergers and acquisitions and expansion of product portfolio are some of the key competitive strategies adopted by players in the global bio-based platform chemicals market.
  • Some of the key companies are Pyran, Inc., Braskem, Novozymes, AVA Biochem AG, Yield10 Bioscience Inc., GFBiochemicals, Roquette, POET, LLC, Cargill, DuPont, BioAmber Inc. (ARD), and BASF SE.

Ask References: https://www.transparencymarketresearch.com/sample/sample.php?flag=ARF&rep_id=43019 

Segmentation

Source

  • Pentose Sugar
  • Xylose
  • Arabinose
  • Others

Type

  • Pentanediol
  • Ethanol
  • Furfural
  • Hydroxymethylfurfural
  • 2,5-Furandicarboxylic Acid
  • Glycerol
  • Isoprene
  • Succinic Acid
  • 3-Hydroxypropionic Acid/Aldehyde
  • Levulinic Acid
  • Lactic Acid
  • Sorbitol
  • Xylitol
  • Others

End-use

  • Food & Beverage
  • Pharmaceutical
  • Chemical
  • Plastic
  • Biofuel
  • Research & Development
  • Others

Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Browse More Chemicals & Materials Market Reports by TMR:

Cut Resistant Fabrics Market - Cut Resistant Fabrics Market Is Estimated To Be Valued At Over US$ 8.4 Bn By 2031

Tire Recycling Downstream Products Market - Tire Recycling Downstream Products Market Is Estimated To Be Valued At Over US$ 7.04 Bn By 2031

Transparent Ceramics Market - Transparent Ceramics Market Is Estimated To Be Valued At Over US$ 2.85 Bn By 2031

Biocompatible 3D Printing Materials Market - Biocompatible 3D Printing Materials Market Is Estimated To Be Valued At Over US$ 19.7 Bn By 2031

Crack Proof Paint Market - Crack Proof Paint Market Is Estimated To Be Valued At Over US$ 195.0 Bn By 2031

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Bioplastic Textiles Market - Bioplastic Textiles Market Is Estimated To Be Valued At Over US$ 1.8 Bn By 2031

Acrylic Powder Market - Acrylic Powder Market Is Estimated To Be Valued At Over US$ 92.1 Bn By 2031

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact Us:

Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com

Logo: https://mma.prnewswire.com/media/1682871/TMR_Logo_Logo.jpg 

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