A new study by Fact.MR states that, the depletion of fossil fuels and strict regulations associated with environment pollution are key factors that are aiding the adoption of bio-based platform chemicals. Rapid growth of the green chemistry sector will also contribute to developments in the industry.
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Strong growth of disposable income and wide scope of applications, including agrochemicals, cosmetics, plastics, and chemical reactions, are likely to aid the growth of the bio-based platform chemicals market over the coming years. Players in the market are increasingly using eco-friendly and biodegradable offerings to improve market accessibility through supply and distribution channels. Investments in research for biocatalysts and easy access to biomass feedstock are likely to positively impact production, allowing for better product quality without substantial changes to the composition of the end product.
“Growing demand for bio-based platform chemicals from end-user industries, stricter regulations on the application of conventional petroleum-based chemicals, and changes in consumer preference on eco-friendly products are key factors driving long-term growth of the bio-based platform chemicals market.”
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Market Segmentation
Global Bio-based Platform Chemicals Market Analysis 2015-2019 And Forecast 2020-2030, By Application
Global Bio-based Platform Chemicals Market Analysis 2015-2019 And Forecast 2020-2030, By Type
C3 Platform Chemicals
C4 Plat Form chemicals
C5 Platform chemicals
C6 Platform Chemicals
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The bio-based platform chemicals market is moderately consolidated in nature, and is characterized by significant market share among market leaders in terms of volume and value. Leading players are focused on strategic collaborations with the aim of bolstering scope of applications for bio-based platform chemicals, generating new revenue streams in the years to come.
In its latest report, Fact.MR has given readers a comprehensive analysis of the global bio-based platform chemicals market, covering historical demand for 2015 – 2019 and forecast information for the period of 2020 to 2030. The report covers key insights on the bio-based platform chemicals market on the basis of type (c3 (glycerol and 3-hydroxypropionic acid), c4 (succinic acid, fumaric acid, malic acid, and aspartic acid), c5 (levulinic acid, glutamic acid, lactonic acid, and xylitol), and c6 (sorbitol, glucaric acid, and 2,5 furan dicarboxylic acid)) and application (plastic formulation, bio-fuel, cosmetics, paints & coatings, solvents, and others), across four key regions (North America, Europe, Asia Pacific, and the Rest of the World).
For More Insights: https://www.globenewswire.com/en/news-release/2018/12/11/1665116/0/en/Chemical-Additives-Sales-to-Be-Driven-by-Performance-Centric-Requirements-Finds-Fact-MR.html
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