Bio-Based Chemicals Market Global Analysis, Research News, Industry Review, Applications and Forecast to 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 come from biological origins
including plants, feedstock, trees, biological
waste, and crops. These chemicals are considered
the best alternative to traditional chemicals as
they play an essential role when it comes to
lessening the dependency on fossil fuels. This
leads to significant reduction in carbon emission
levels, in addition to maintaining the ecological
balance. Among the raw materials, Lignocellulose
is the most commonly available and used raw
material to produce biofuels. Stringent policies
about the production of synthetic chemicals are
expected to favor the market in the long run.
Subsidies and incentives implemented by
governments to bring down emissions are bound to
aid in market growth. This can be exemplified by
the Renewable Chemicals Act started in 2017 by
the U.S. government. It helps provide a tax
credit to the bio-chemical vendors in the
country. Emergence of several bio-refineries
does wonders for the Bio-Based Chemicals market
as well. With the increasing focus on sustaining
a consistent supply chain of raw materials in
traditional industries like automotive backed by
technological advancements could give rise to a
flurry of investment opportunities. Also, the
shale gas boom in North America has prompted the
demand for bio-based polymers as well as
intermediates.
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Bio-Based Chemicals Market Research Report-
Forecast to 2023
Segmental Analysis
The Global Bio-Based Chemicals Market has been
segmented depending on the Type and
Application. With context to the Type, the
bio-based chemicals market has been broken down
into bioplastics, bio-lubricants, bio-solvents,
bio-surfactants, bio-based acids, bio-alcohols,
and others. The bio-alcohols segments coverage
of 41.7 was the largest in the market in 2018.
This could be owing to the large-scale adoption
of bio-ethanol in potable as well as industrial
applications. The segment was worth USD 24,653.90
million in 2018 and can expect to attain a CAGR
of 9.89 in the coming years. The segment is also
expected to arrive at the valuation of USD
39,507.9 million by 2023. Application-Wise, the
market caters to agriculture, automotive,
personal care, food beverage, packaging,
detergents and cleaners, paints and coating,
adhesives and sealants, pharmaceuticals, paint
dispersion, and others. Out of these, the food
beverage segment dominated the market with the
largest share of 26.2, value wise. The value
accounted to USD 15,494.6 million in 2018 and it
is believed that the segment can achieve a CAGR
of 8.79 during the evaluation period. View Full
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Bio-Based Chemicals Market Research Report-
Forecast to 2023
Regional Outlook
The Worldwide Market for Bio-Based Chemicals is
spread across the primary regions of Asia
Pacific, Europe, Latin America, North America,
and Middle East Africa. Europe, with a share of
33.75 in 2018, emerged as the most profitable
region owing to numerous strict environmental
regulatory policies. The market had touched the
valuation of USD 19,950.8 million in 2018 and is
slated to achieve a growth rate of 10.85 during
the review time frame. Germany held the highest
value in the region in 2018 and is on its way to
grow at the highest rate of 12.34 over the
course of the given period. In 2018, Asia Pacific
was the second-biggest market for Bio-Based
Chemicals. The esteemed position of the region
could be due to rapid industrial growth as well
as favorable regulatory policies in the emerging
nations. Asia Pacific is presumed to display the
best CAGR of 11.32 during the appraisal period.
China turned out to be the most lucrative market
in the region in 2018 and can project the highest
CAGR of 12.60 in the upcoming years. Following
closely, India stood as the second-biggest market
in 2018 and is set to exhibit a CAGR of 11.40 in
the subsequent time frame. In 2018, United States
was the most remunerative market in North America
and can expect to sustain its position during the
evaluation period. Canada notes a rise in
production of bio-succinic acid, developed by
BioAmber Inc. Bio-succinic is considered to be
the fastest-growing bio-based platform chemical,
which finds use across various end-user
applications and also as intermediary chemicals.
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Bio-Based Chemicals Market Research Report-
Forecast to 2023
Major Players in this Research

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

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