Bio-Based Platform Chemicals Market Driving Factors, Industry Analysis, Investment Feasibility and Trends, Outlook -2023

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Bio-Based Platform Chemicals Market Research
Report - Forecast to 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Bio-Based Platform Chemicals Market Research
Report- Forecast to 2023
Bio-Based Platform Chemicals Market - Overview
Market Research Future (MRFR) proclaims that the
Global Bio-Based Platform Chemicals Market is
predicted to garner USD 10,205.4 million,
grabbing an impressive CAGR during the forecast
period (2018-2023). The surging application of
Bio-Based Platform Chemicals in consumer goods is
likely to encourage the market globally.
Bio-Based Platform Chemicals are referred to as
compounds which consist of two to six carbons and
are derived from renewable resources. They are
widely used as important precursors in the
production of a variety of materials and
chemicals like perfumes, pharmaceuticals, fuels,
solvents, and polymers. Several bioplastics like
bio-polyethyleneteraphthalate, polylactic acid,
polyhydroxyalkanoates, and bio-polyethylene are
produced from Bio-Based Chemicals and are
extensively used in crockery, cutlery, pots,
straws, and bowls. Market Potential and
Pitfalls The Bio-Based Platform Chemicals market
is likely to gain impetus in the coming years
owing to an increased demand in applications like
construction, consumer goods, and automotive
vehicles. The increased use of fossil fuels has
led to environment concerns across the world
owing to the negative impact of the
petroleum-based polymers. Strict mandates have
been imposed in order to limit the carbon
footprint, which is increasing the adoption of
Bio-Based Platform Chemicals across the globe.
The European Commission has set up the REACH
initiative for Registration, Evaluation,
Authorization, and Restriction of Chemicals. With
the overall shift in consumer preference towards
products which are environmentally safe coupled
with the rising concern regarding the emission of
carbon, the Bio-Based Platform Chemicals Market
is predicted to foster. The market is booming
across the globe owing to their sustainability
and low carbon footprint, when compared to other
conventional polymers. The dependency on fossil
fuels has reduced for the production of polymers
which is widely used in a large number of
applications, thereby fueling the demand for
Bio-Based Platform Chemicals. On the Contrary,
Bio-Based Chemicals are considered an expensive
procedure which is energy and capital intensive.
This is likely to impede the market growth in the
coming years as petroleum-based chemicals are
very cheap to produce. On a brighter note, with
technological advancements, cost of production is
likely to reduce in the long run.
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Bio-Based Platform Chemicals Market Research
Report- Forecast to 2023
Segmental Analysis
The Global Bio-Based Platform Chemicals Market
has been segmented on the basis of Type and
Application. By Mode of Type, the Global
Bio-Based Platform Chemicals Market has been
segmented into oil, syngas, algae, biogas, sugar
and others. Among these, the sugar segment
commands the major share with 43 and is
estimated to remain lucrative in the coming years
due to the widespread availability of
carbohydrates derived from lignocellulosic
biomass. By Mode of Application, the Global
Bio-Based Platform Chemicals Market has been
segmented into solvents, polymers,
pharmaceuticals, fuels, perfumes and others.
Among these, the polymer segment is considered
remain highly attractive during the appraisal
period. The growth is ascribed to the rapid
depletion of the fossil fuel-based
chemicals. View Full Press Release _at_
https//www.marketresearchfuture.com/reports/bio-b
ased-platform-chemicals-market-6604

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Bio-Based Platform Chemicals Market Research
Report- Forecast to 2023
Regional Outlook
Geographically, the Bio-Based Platform Chemicals
Market span across regions namely, Europe, North
America, Asia Pacific, Latin America, and the
Middle East Africa. Considering the global
scenario, the Asia Pacific region was valued at
USD 2,078.4 million at 2017 and is anticipated to
generate USD 4,488.2 million by the end of the
forecast period. The growth is ascribed to the
high availability of abundant renewable feedstock
coupled with the government policies. The region
has a large growing population which has further
led to a surge in foreign crude imports, further
encouraging the adoption of Biobased Chemicals in
this region. Japan, India, and China are some of
the most significant contributors in this region.
The extensive RD activities in biotechnology in
China are likely to contribute to the expansion
of the market. The region is estimated to expand
at the highest CAGR of 13.79 in the coming
years. The European region is likely to occupy
the second spot in the global market owing to the
progressive policies associated with the
reduction of carbon footprint. Moreover, the
implementation of programs like REACH is further
influencing the growth of the market in this
region. Strict mandates in order to limit the
carbon emissions are intensifying the demand for
Bio-Based Chemicals for the production of
bio-fuels.
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Bio-Based Platform Chemicals Market Research
Report- Forecast to 2023
Major Players in this Research

• Bio-Based Platform Chemicals Market Prominent
  Players
• BioAmber Inc.
• Braskem
• Qingdao Kehai Biochemistry Co. Ltd.
• Zhejiang Guoguang Biochemistry Co. Ltd
• Reverdia
• Cargill Incorporated
• AVA Biochem AG
• Royal DSM NV
• Itaconix PLC
• GFBiochemicals Ltd
• GC Innovation America
• Mitsubishi Chemical Corporation
• LyondellBasell Industries NV, BASF SE

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