Global Bio-based Chemicals Market size was valued at US$ XX Bn in 2019 and the total revenue is expected to grow at 14.51% through 2020 to 2026, reaching nearly US$ 32.04 Bn.
The global Bio-based Chemicals market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Bio-based Chemicals report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Bio-based Chemicals Market Overview:
Bio-based chemicals are products derived from plants and other renewable agricultural, marine, and forestry materials. These chemicals are widely used in food, pharmaceuticals, and cosmetics.
Global Bio-based Chemicals Market Dynamics:
Bio-based chemicals are used in various sectors, this factor drive the bio-based market demand. The need to reduce the emission of greenhouse gases and rising demand for bio-derived goods because of environmental issues is expected to drive the market demand during the forecast period. The growing use of bio-based alcohols in the food & beverage industry, and the automobile and transportation industries for bio-based lubricants fuels the global demand for bio-based chemicals. In developed countries, increasing disposable income and growing population are expected to further raise demand for bio-fertilizers, biocides, cosmetics, plastics, and chemical formulations.
The growing number of lignocellulosic bio-refineries is expected to generate lucrative opportunities for major players operating in the global bio-based chemicals market. The rise in carbon minimization policies and increased investment in R&D activities for the production of bio-based chemicals is also estimated to boost the demand during the forecast period.
Volatile raw material prices are hampering the development of the global economy.
Global Bio-based Chemicals Market Segment Analysis:
By Type, the bio-based chemicals market is bifurcated into bioplastics, bio-lubricants, bio-solvents, bio-alcohols, bio-based acids, bio-surfactants. The Bio-alcohols segment accounted for the largest share of more than 42.7% in terms of volume in 2019. Industrial uses of bio-ethanol include fragrance and scent processing, medicinal formulations for cosmetics, and personal care.
Global Bio-based Chemicals Market
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By Application, the market is bifurcated into food & beverage, pharmaceuticals, agriculture, packaging. The food & beverage segment held a share of more than 26.2% in terms of volume and is estimated to grow at US$ 16.49 billion in 2019 thanks to growing eating preferences, disposable income, and changing lifestyle.
Global Bio-based Chemicals Market 1
January 2021: Rudolf Group, the German textile chemical corporation, offered the first bio-based, robust water repellent solutions. By accepting natural sources as the core components of two new Robust Water Repellent (DWR) technologies, the Rudolf Group has pushed the limits of R&D.
December 2020: DuPont Nutrition & Biosciences and Kemira announced an exclusive collaboration for the production and commercialization of DuPont's enzymatic polymerization-based polysaccharide platform technology for some applications. The alliance will bring new, bio-based, and inherently biodegradable product lines to the strategic markets of Kemira, including paper and board, water treatment, and the oil and gas industry.
Global Bio-based Chemicals Market Regional Insights:
Europe is dominating the Bio-based Chemicals Market
Europe has accounted for the largest share of the bio-based chemicals market more than 33.75% in 2019 thanks to the increasing growth of value chains of bio-based feedstock, i.e. the manufacture of bio-refineries and biochemicals. The main drivers of the demand in this area are the decline of natural resources, rising crude oil prices, and tight government regulations. The regional market was estimated at USD 19,950.8 million in 2019 and a CAGR of 10.85% during the forecast period.
North America is expected to be the Second-Largest Region of Secondary Alkanes Sulfonate Market
North America is projected to grow at a higher CAGR, thanks to the emergence of low-cost and plentiful feedstock, shifting emphasis on the use of environmentally sustainable goods, and the introduction of many government policies.
Global Bio-based Chemicals Market 2
The objective of the report is to present a comprehensive analysis of the Global Bio-based Chemicals market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Bio-based Chemicals market dynamics, structure by analyzing the market segments and project the Global Bio-based Chemicals market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Bio-based Chemicals market make the report investor’s guide.
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Global Bio-based Chemicals Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Global Bio-based Chemicals Market Key Players
• BASF SE (Germany)
• Vertec BioSolvents (US)
• AGAE Technologies, LLC (US)
• TOTAL (France)
• BioAmber Inc (US)
• Archer Daniels Midland Company (US)
• DowDuPont (US)
• Braskem SA (Brazil)
• Evonik Industries (Germany)
• Toray Industries Inc (Japan)
• Cargill, Incorporated (US)
• Itaconix PLC (UK)
• GFBiochemicals Ltd (UK)
• Mitsubishi Chemical Corporation (Japan)
• Royal DSM NV (The Netherlands)
• ABENGOA, S.A.
• Eastman Chemical Company
• UPM Biochemicals
• Tate & Lyle Bio Products Company LLC
• IP Group Plc
• Parchem fine & specialty chemicals Inc.
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