Bio-Based Chemicals Market Size, Top Companies, Demand/Supply Analysis and Future Market Trends 2019-2023

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Bio-Based Chemicals Market Research Report -
Forecast to 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Bio-Based Chemicals Market Research Report-
Forecast to 2023
Bio-Based Chemicals Market - Overview
Bio-Based Chemicals are generally produced by
using renewable sources like sugarcane, corn,
vegetable oil, sugar beet, grains, wheat and
other cereals, and lignocellulosic biomass. The
products which are manufactured by using
bio-based chemicals are eco-friendly and does not
release toxic emissions when disposed of. The
Global Bio-Based Chemicals Market, as per a
report by Market Research Future (MRFR) is touted
to register a CAGR of 10.47, surpassing a
valuation of USD 97.2 billion during the forecast
period (2018-2023). The major factor driving the
Bio-Based Chemicals Market is the strict
government mandates associated with the use of
synthetic chemicals, especially in developed
nations. The surging application of bio-based
alcohols in the FB segment is also triggering
the demand from the market. The mounting demand
for bio-based lubricants in the transportation
and automotive sectors are also predicted to
create growth opportunities for the market in the
coming years. With the rising focus on production
cost optimization with the help of technological
innovations, the market is estimated to gain
prominence. Bio-alcohols find wide applications
in the FB industry, especially bioethanol. It is
extensively used as an intoxicating agent in the
production of alcohol beverages like brandy,
vodka, rum, gin, whiskey, tequila, fortified and
unfortified wine, beer, and others. It is also
used to concentrate and extract aromas and
flavors, which are used as a flavoring agent in
the FB industry. The high demand from the FB
industry will induce the growth of the market in
the coming years. On the contrary, the
fluctuating prices of raw materials are one of
the major concerns deterring the market growth
across the globe.
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Bio-Based Chemicals Market Research Report-
Forecast to 2023
Segmental Analysis
The Bio-Based Chemicals Market has been
segmented based on Type and Application. By
Type, the market is segmented into
bio-lubricants, bioplastics, bio-alcohols,
bio-solvents, bio-surfactants, and bio-based
acids. Of these, the bio-alcohols segment will
register the largest share of 41.7, owing to the
large-scale adoption of bioethanol in potable as
well as industrial applications. Industrial
applications of bioethanol comprise manufacturing
of aromas and flavors, cosmetics and personal
care formulations, and pharmaceutical
formulations. The Application Segment comprises
pharmaceuticals, food beverage, agriculture,
and packaging. Of these, the food beverage
segment is predicted to showcase the largest
share of 26.2. The segment was valued at USD
15,494.6 million in 2018 and is expected to
garner a CAGR of 8.79 by the end of 2023. View
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Bio-Based Chemicals Market Research Report-
Forecast to 2023
Regional Outlook
Geographically, the Bio-Based Chemicals Market
spans across Europe, Asia Pacific, Latin America,
North America, and the Middle East
Africa. Considering the Global Scenario, Europe
acquired the largest share in the global market
and accounted for 33.75 in 2018. The region was
valued at USD 19,950.8 million in 2018 and is
estimated to garner a CAGR of 10.85 by the end
of 2023, mainly due to the strict environment
regulatory policies in the region. In this
region, Germany acquired the largest shared in
2018 and is predicted to garner the highest CAGR
of 12.34 by the end of 2023. The government in
Europe is highly focusing on the development of
bio-based sector and several policies and
strategies in order to achieve sustainable
economic growth. This is predicted to trigger
product demand in the market. The Asia Pacific
has managed to seize the second largest share due
to the rapid industrial growth, coupled with
favorable regulatory policies, especially in the
emerging countries of the region. The market in
the APAC will register the highest CAGR of 11.32
by 2023, with China accounting for the largest
share. Meanwhile, India is likely to register a
CAGR of 11.40 by 2023.
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Bio-Based Chemicals Market Research Report-
Forecast to 2023
Major Players in this Research

• Bio-Based Chemicals Market Prominent Players
• Vertec BioSolvents (US)
• BASF SE (Germany)
• TOTAL (France)
• AGAE Technologies, LLC (US)
• Archer Daniels Midland Company (US)
• BioAmber Inc (US)
• Braskem SA (Brazil)
• DowDuPont (US)
• Toray Industries Inc (Japan)
• Evonik Industries (Germany)
• Itaconix PLC (UK)
• GFBiochemicals Ltd (UK) and Royal DSM NV (The
  Netherlands)

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