Global Bio based Platform Chemicals Market by Type (Bio-1,4-Diacid, Bio-Gycerol, Bio-Glutamic Acid, Bio-3-Hydroxypropionic Acid, Bio-Itaconic Acid), By Application (Agriculture, Bio Fuels, Bio Plastics, Food Applications, Industrial Chemicals, Pharmaceutical, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

The Global Bio-Based Platform Chemical Market size is projected to reach USD 4,685.7 million by 2028 from USD 3,108.4 million in 2017 at a CAGR of 8.5% during the forecast period (2017 - 2028). The growth of this market is driven by factors such as increasing demand for renewable chemicals owing to the stringent regulations on fossil fuel consumption and emission norms and growing awareness among consumers about environmental sustainability with respect to usage of plastics materials that are not biodegradable.

Bio-based platform chemicals are the primary chemical products derived from biological sources. These renewable chemicals have applications in various fields and may be used as alternatives to non-renewable oil, gas, or petrochemical-based materials such as plastics, synthetic fibers, polyurethanes, etc. Bio-based platform chemicals can also be converted into other bio-derived commercial products like ethanol for human consumption or fuel production use. The demand for these clean sustainable substitutes is expected to rise due to stringent regulations on fossil fuel consumption and emission norms with growing awareness among consumers about environmental sustainability with respect to usage of plastics materials that are not biodegradable. Moreover, rising R&D initiatives by global players along with tax benefits offered by governments will result in a rise in the production and use of bio-based platform chemicals.

On the basis of Type, the global bio-based platform chemical market is segmented into bio-glutamic acid, bio-glycerol, bio-itaconic acid, and bio-peroxide.

Bio-Glutamic Acid:

Bio-glutamic acid is an organic compound that contains carboxylic acids and glutamine, which functions as a neurotransmitter or neuromodulator in the central nervous system. Glutamate (the salt of glutamic acid) may be used to stimulate eating and drinking if taken orally; also it can relieve pain by blocking the transmission of nerve impulses from one cell to another. It promotes thyroid function when injected into humans with hypothyroidism (which can result from excessive consumption of goitrogenic foods such as raw cabbage). In addition, glutamate has been shown to increase fat breakdown during exercise. Bio-Glutamic Acid is widely distributed in many plant tissues including tomatoes where it coexists with α-carotene.

Bio-Glycerol:

Bio-glycerol is a type of bio-based platform chemical and it is derived from animal fat or vegetable oil. It has a hydroxyl group on one side which makes this compound reactive with other chemicals, polymers, etc. In recent years, there has been a lot of attention to bio-based chemicals because they are renewable and biodegradable. Bio-glycerol is an excellent material for the production of polyols which can be used as raw materials for various organic compounds such as glycols, diols, polyesters, and aliphatic alcohols. Bio-based platform chemicals are widely used in various applications such as food packaging (e.g., lactose), food packaging films (e.g., plant cellulose), or water bottles among others due to their high economic value and eco-friendly nature.

Bio-Itaconic Acid:

Bio-itaconic acid is a chemical compound of acetic acid that can be synthesized from renewable resources such as corn, sugarcane, soybean, and tapioca. It has applications in various sectors including the food industry for the production of vegan cheese or yogurt; pharmaceuticals to produce bioactive molecules like antibiotics steroids, non-steroidal immunosuppressants, and anticonvulsants; plastics materials manufacturing with its biodegradable properties; fuel additives to increase octane number by ~60 points, and textile industry for the production of natural dye.

Bio-Peroxides:

Bio-peroxides are bio-based platform chemicals that can be sourced from renewable resources and also indirectly come from fossil fuels through refining processes. Bio-PerOxides have multiple applications in the plastics industry including being used as a plasticizer, stabilizer, or initiator for polymers. They are often used where they will not decompose easily such as in epoxy resins for coatings on metal parts or adhesives. Bio-peroxides also find use with petroleum products because of their low volatility and flammability even at high temperatures meaning they do not contribute to thermal degradation of fuel while reducing emissions during the combustion process which is why they may be used in jet fuel.

On the basis of Application, the global bio-based platform chemical market is segmented into agriculture, biofuels, bioplastics, food applications, and others.

Agriculture:

Bio-based platform chemicals can be used in agriculture to make fertilizers that stimulate crop growth by providing the soil with nutrients like nitrogen or phosphorous. Agriculture is one of the primary applications for bio-platform chemicals because it represents a large part of global food production.

Bio-based platform chemicals may also be used to make pesticides. By applying a pesticide, the bio-platform chemical is able to kill insects that would normally destroy crops due to their appetite for the plants as food sources. The best example of this application comes from an insecticide called DDT (dichloro diphenyl trichloroethane).

The third agricultural use for bio-platform chemicals are fertilizers with acidic properties like nitric acid or sulfuric acid which stimulate growth by providing added nutrients needed by plant life. Bio-platform chemicals can also be applied as herbicides by killing weeds that hinder the growth of desired plants.

Biofuels:

The application of bio-based platform chemicals is using in the production of biofuels. Biofuels are an alternative to fossil fuels, which have a lower environmental impact and can help reduce global warming. Biofuels are fuels that can replace gasoline or diesel without the need for modification of internal combustion engines and other vehicles. Currently, there are a number of companies who have started production of biobased renewable diesel such as Neste Oil from Finland, BDF Renewable Oils Limited from India, and Iogen Corporation from Canada among others. They produce low carbon intensity fuel alternatives by converting natural gas into clean liquid petroleum products including hydrogenated vegetable oils like soybean oil.

Bioplastic:

Bio-based platform chemicals are widely used in the manufacture of bioplastics. Bio-polyesters are an example of bio-plastics that have been manufactured from renewable plant materials such as corn or sugar cane with enzymes, metal ions, and oxygen to produce polyester-based materials. They are lighter weight than conventional plastics products like PVCs and PETs and can be recycled at a higher percentage rate without losing quality or performance.

Food Application:

A number of bio-platform chemicals are used in food production, especially to preserve foods like meat and dairy products, or as preservatives for fruits and vegetables. The most common use is a form of sodium nitrite called erythorbate which prevents spoilage from bacteria that causes botulism poisoning. Another application involves using antibiotics as feed additives to fight off illness among livestock animals, mostly cattle.

On the basis of Region, the global bio-based platform chemical market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America accounted for a dominant share globally owing to high demand from the agriculture sector due to increasing awareness about organic farming among consumers. Moreover, the European region is also witnessing healthy growth in the bio-based platform chemicals market due to increasing demand from pharmaceuticals and food applications.

Latin America is expected to witness a significant increase in consumption of biogylcerol which is used as a fuel additive, owing to the presence of sugarcane plantations across the region. Asia Pacific region is anticipated to grow at an extended pace on account of rising demands for nylon 66 polymers which are widely employed by the medical industry. Middle East & Africa were also projected to experience a moderate rate with respect to regional penetration during 2021 - 2028.

Growth Factors For The global Bio-based Platform Chemical Market:

The global Bio-based Platform Chemical Market is expected to witness a high growth rate during the forecast period, owing to various factors such as increasing demand for clean sustainable substitutes with stringent regulations on fossil fuel consumption and emission norms with growing awareness among consumers about environmental sustainability. Factors such as high demand for an eco-friendly chemical and cost-effectiveness are expected to propel market growth.

Up Market Research published a new report titled “Bio based Platform Chemicals Market research report which is segmented by Types (Bio-1,4-Diacid, Bio-Gycerol, Bio-Glutamic Acid, Bio-3-Hydroxypropionic Acid, Bio-Itaconic Acid), By Applications (Agriculture, Bio Fuels, Bio Plastics, Food Applications, Industrial Chemicals, Pharmaceutical, Others), By Players/Companies BASF, Cargill Incorporated, DSM, INEOS, PTT Global Chemical Public Company”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Bio based Platform Chemicals Market Report Segments:

The market is segmented by Type Bio-1,4-Diacid, Bio-Gycerol, Bio-Glutamic Acid, Bio-3-Hydroxypropionic Acid, Bio-Itaconic Acid and By Application Agriculture, Bio Fuels, Bio Plastics, Food Applications, Industrial Chemicals, Pharmaceutical, Others.

Some of the companies that are profiled in this report are:

1. BASF
2. Cargill Incorporated
3. DSM
4. INEOS
5. PTT Global Chemical Public Company

Bio based Platform Chemicals Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Bio based Platform Chemicals Market

Overview of the regional outlook of the Bio based Platform Chemicals Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Bio based Platform Chemicals Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Bio based Platform Chemicals Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.
6. By Type:

                1. Bio-1,4-Diacid

                2. Bio-Gycerol

                3. Bio-Glutamic Acid

                4. Bio-3-Hydroxypropionic Acid

                5. Bio-Itaconic Acid

                1. Agriculture

                2. Bio Fuels

                3. Bio Plastics

                4. Food Applications

                5. Industrial Chemicals

                6. Pharmaceutical

                7. Others

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Bio based Platform Chemicals Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Bio based Platform Chemicals Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.