Bio-based Chemical Market: Reduced emission of carbon facilitating the market growth
According to a new report published by Reports Monitor titled, “Global Bio-Based Chemicals Market, Growth Opportunities, Innovations and Forecast, 2017-2025,” the Bio-Based Chemicals market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
Bio-based chemicals are expected to witness a growing demand mainly owing its environment friendly nature and renewable source of energy. They are derived from the biomass such as trees, plants and animals. They are broadly classified into two types: bio plastics and biofuels. Among them biofuel is anticipated to depict an increasing demand, mainly due to the reduced emission of carbon and fluctuation in the crude oil prices.
Increasing demand from the end-use industries such as industrial chemicals, agriculture, pharmaceutical and others results as the major driver in boosting the market growth. Continuous demand for the engineered polymers, composites and others is one of the significant factors in propelling the market growth. Moreover, the favorable government policies and regulations in the adoption of bio based chemicals is also favoring the demand for product, thereby boosting the market growth. However, the increased cost of the chemical processing and food and safety regulations regarding the adoption of chemicals may slow down the market growth.
This report provides a detailed analysis of Bio Based Chemicals market, which includes current industry situations such as market size, growth and demands, market outlook, major players with their key strategies such as investment, mergers and acquisitions, value chain analysis and swot analysis. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth analysis along with important inputs from the various industry experts. The research is carried out with both extensive primary and secondary data sources with bottom-up and top-down approaches.
The bio-based chemical market is majorly segmented on the basis of products and applications. Depending upon the products, market is bifurcated into bio-plastics and biofuels, while on the basis of applications, market is segmented into: industrial chemicals, agriculture, pharmaceuticals and others. Among these, industrial chemical and agriculture sectors is expected to dominate the market owing to the increased adoption of bio based fertilizers for the crops.
The global bio-based chemicals market is analyzed across the regions such as: North America, Europe, Asia Pacific and LAMEA. Among the regions spanned, Asia Pacific is anticipated to dominate the market owing to the increased production and consumption in the countries such as China, India and Japan. Increased adoption of bio-fuels owing to the increased pollution in the countries such as China and India is also supporting the market growth. LAMEA is expected to emerge as fastest growing region owing to the increased sugarcane based ethanol production in the Brazil, thereby facilitating the market growth.
The major key players in operating in the market are: BASF SE (Germany), Bio Amber Inc. (U.S.), Braskem (Brazil), Danimer Scientific (U.S.), Mitsubishi Chemical Corporation (Japan), Myriant Corporation (U.S.), Synbra Holding bv (Netherlands), Mitsui & Co., Ltd. (Japan), Zhejiang Hisun Biomaterials Co., Ltd (China), TEIJIN LIMITED (Japan), Koninklijke DSM N.V. (Netherlands), PTT Global Chemical Public Company Limited (Thailand), NatureWorks LLC (U.S.), Corbion (Netherlands), and Metabolix, Inc. (U.S.).
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