Bio-based chemicals and materials market is expected to value around USD 8.81 billion in 2017 and it is anticipated to record a CAGR of 12.6% from the forecast period 2018 to 2025. Bio-based chemicals originated from the natural feedstock, which include agricultural, forestry and renewable materials and plants. Such chemicals work as the best substitute for petroleum-derived fields, products and chemicals. A few crucial elements that increase the demand for these chemicals are constantly changing climate and high requirements for searching green solutions.
Global Bio-based Chemicals and Materials Market – Key Trends
Renewable as well as sustainable raw materials like biomass and sugar is used in the manufacturing of bio-chemicals. Hence, both the low cost and plentiful availability of raw materials are anticipated to drive the market. The agriculture application is expected to grow at a fast speed according during the forecasting duration. A huge array of applications is presented by bio-based chemicals in the agriculture segment in the form of biofertilizers and biopesticides. The key application industries leading the global bio-based chemicals in the market are pharmaceuticals, industrial chemicals and packaging.
Global Bio-based Chemicals and Materials Market: Key Players
The study focuses on operating key players of bio-based chemicals market, which include mainly UPM Biochemicals, S.A., Braskem, ABENGOA, Eastman Chemical Company and BASF SE. It further gives details on dynamics of the bio-based chemicals market. Moreover, it also talks about the critical evaluation of recent and rising avenues, journeys and strategic framework of customers to help inefficient decision making. Key findings of our research report are given below, which provides you with in-detail visualization of important elements:
- Insights based on thorough research
- Gainful Results to fulfill all the business needs
- Strategic platform to enhance the growth
Revenue, volume growth at regional, global and country level is forecasted in this report. It depicts the analysis of recent industry trends in sub-segments from the forecasting period of 2014-2025. Global-bio based chemicals market is segmented by region and product.
Bio-based Chemicals and Materials Market analysis by Region:
Central and South America
Middle East and Africa
Bio-based Chemicals and Materials Market analysis by product
- Fumaric Acide
- Dodecanedioic Acid (DDDA)
- Bio-based PE
- Polylactic Acid (PLA)
- Polyhydroxyalkanoates (PHA)
- Aspartic Acid
- 3-Hydroxypropionic Acid (3-HP)
- Itaconic Acid
- Glucaric Acid
- Malic Acid
Key market drivers – Global Bio-based Chemicals and Materials Market
There are many factors that drive the global bio-based chemicals market. One major factor is the rising government proposals to promote green chemistry as well as business settlement programs like making restrictions on the free supply of disposable carry bags and making ban on plastic bags. Another crucial key driver propelling the bio based chemicals market is favorable government policies. A few other key factors driving the market are preference to the use of eco-friendly products, variation in the crude oil prices and high demand for bio-based chemicals products.
Factors restraining the global Bio-based Chemicals and Materials Market growth:
A few factors that are affecting the bio-based chemicals market are discussed here.
- High-price is charged for both the research as well as development of bio-based chemicals
- High price of bio-based chemicals
- Low cost of raw materials needed to produce bio-based chemicals make the production cost high
- Lack of supply chains in raw materials
- Less preference to use of biopesticides
Demand for bio-based chemicals is increasing day by day because of increase in the consumption of chemicals in several companies. Furthermore, rise in the requirement of lower greenhouse gas releases as well as increase in demand for bio-based products because of the environment issues are planned to drive the demand for the bio-derived chemicals according to forecast period.