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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Bio-based Chemicals Market size was valued at US$ 42.4 Billion in 2023 and is poised to grow at a 7.2% CAGR from 2024 to 2030. Bio-based chemical products that are derived from renewable biological sources, such as plants, crops, agricultural waste, or microorganisms. The chemicals are produced through processes such as fermentation, enzymatic conversions, and others. The extensive use of biobased polymers in several applications such as food & and beverages, agriculture, automotive, personal care, packaging, detergents, and cleaners boost the demand and propels the market growth.
Furthermore, raising awareness regarding eco-friendly products and companies focused on research and development activities for more effective market availability creates lucrative opportunities in the bio-based chemical market. The rapid fluctuations in the pricing of raw materials due to the unavailability of raw materials hinder market growth. The market for bio-based chemicals is expanding as a result of increased greenhouse emissions and the depletion of fossil fuels supplies, the use of bio-based goods in the market to reduce hazardous emissions.
Study Period
2024-2030Base Year
2023CAGR
7.2%Largest Market
Asia PacificFastest Growing Market
Asia Pacific
The increasing demand for environmentally friendly products across the world creates lucrative opportunities in the Bio-based chemicals market during the forecast period. The constant spending expenditure by companies on research and development for more effective market availability of biobased chemicals, many pharmaceuticals and solvents contain bio-based chemicals for their effective utilization in the manufacturing, also increased healthcare awareness and consequent rise demand for the manufacturing of skincare and cosmetics products experiencing extensive opportunities in the market.
Geographically, Asia Pacific held the major market share in 2022 and to dominate the global Bio-based chemicals market in the forecasted years. Asia Pacific is the fastest-growing market in bio-chemicals and has the largest market share across the world. This is attributed to the increases in health awareness and consumers are shifting towards bio-based products and the changing government policies regarding environment protection. The rising incorporation of bioplastics by various end users in China will augment the market growth. North America holds a significant market share, and factors such as emphasis on the use of sustainable products, the emergence of low-cost feedstock, and innovation in bio-based chemicals it is predicted to grow rapidly in the forecast period.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market CAGR |
7.2% |
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By Source |
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By Application |
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By Region |
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The Bio-based Chemicals Market size was valued at US$ 42.4 Billion in 2023 and poised to reach US$ 66.2 Billion by 2030
The Bio-based Chemicals Market is poised to grow at a significant CAGR of 7.2% from 2024 to 2030.
The leading players in the Bio-based Chemicals Market are Lyondell Basell Industries Holdings BV, BASF SE, Thermo Fisher Scientific, Ultimate Chem India Pvt. Ltd, Alpha Chemika, Haihang Industry, Ronas Chemicals, Merck KGaA, Alfa Aesar, FUSO CHEMICAL CO., LTD., FUJIFILM Wako Pure Chemical Corporation, Dupont, and Braskem
| 1.Executive Summary |
| 2.Global Bio-based Chemicals Market Introduction |
| 2.1.Global Bio-based Chemicals Market - Taxonomy |
| 2.2.Global Bio-based Chemicals Market - Definitions |
| 2.2.1.Source |
| 2.2.2.Application |
| 2.2.3.Geography |
| 2.2.4.Region |
| 3.Global Bio-based Chemicals Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Bio-based Chemicals Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Bio-based Chemicals Market By Source, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Bio-Alcohol |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Bioplastic |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Bio-Lubricant |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Bio-Surfactants |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Bio-Solvents |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Others |
| 5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 6.Global Bio-based Chemicals Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Food & Beverages |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Agriculture |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Automotive |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Personal Care |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Packaging |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Detergents & Cleaner |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Paints and Coating |
| 6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 6.8. Others |
| 6.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.8.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.8.3. Market Opportunity Analysis |
| 7.Global Bio-based Chemicals Market By Geography, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. The Asia Pacific |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. MEA |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.Global Bio-based Chemicals Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Bio-based Chemicals Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Source Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Bio-Alcohol |
| 9.1.2.Bioplastic |
| 9.1.3.Bio-Lubricant |
| 9.1.4.Bio-Surfactants |
| 9.1.5.Bio-Solvents |
| 9.1.6.Others |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Food & Beverages |
| 9.2.2.Agriculture |
| 9.2.3.Automotive |
| 9.2.4.Personal Care |
| 9.2.5.Packaging |
| 9.2.6.Detergents & Cleaner |
| 9.2.7.Paints and Coating |
| 9.2.8.Others |
| 9.3. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.North America |
| 9.3.2.Europe |
| 9.3.3.The Asia Pacific |
| 9.3.4.Latin America |
| 9.3.5.MEA |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Bio-based Chemicals Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Source Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Bio-Alcohol |
| 10.1.2.Bioplastic |
| 10.1.3.Bio-Lubricant |
| 10.1.4.Bio-Surfactants |
| 10.1.5.Bio-Solvents |
| 10.1.6.Others |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Food & Beverages |
| 10.2.2.Agriculture |
| 10.2.3.Automotive |
| 10.2.4.Personal Care |
| 10.2.5.Packaging |
| 10.2.6.Detergents & Cleaner |
| 10.2.7.Paints and Coating |
| 10.2.8.Others |
| 10.3. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.North America |
| 10.3.2.Europe |
| 10.3.3.The Asia Pacific |
| 10.3.4.Latin America |
| 10.3.5.MEA |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 11.Asia Pacific (APAC) Bio-based Chemicals Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Source Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Bio-Alcohol |
| 11.1.2.Bioplastic |
| 11.1.3.Bio-Lubricant |
| 11.1.4.Bio-Surfactants |
| 11.1.5.Bio-Solvents |
| 11.1.6.Others |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Food & Beverages |
| 11.2.2.Agriculture |
| 11.2.3.Automotive |
| 11.2.4.Personal Care |
| 11.2.5.Packaging |
| 11.2.6.Detergents & Cleaner |
| 11.2.7.Paints and Coating |
| 11.2.8.Others |
| 11.3. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.North America |
| 11.3.2.Europe |
| 11.3.3.The Asia Pacific |
| 11.3.4.Latin America |
| 11.3.5.MEA |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Bio-based Chemicals Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Source Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Bio-Alcohol |
| 12.1.2.Bioplastic |
| 12.1.3.Bio-Lubricant |
| 12.1.4.Bio-Surfactants |
| 12.1.5.Bio-Solvents |
| 12.1.6.Others |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Food & Beverages |
| 12.2.2.Agriculture |
| 12.2.3.Automotive |
| 12.2.4.Personal Care |
| 12.2.5.Packaging |
| 12.2.6.Detergents & Cleaner |
| 12.2.7.Paints and Coating |
| 12.2.8.Others |
| 12.3. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.North America |
| 12.3.2.Europe |
| 12.3.3.The Asia Pacific |
| 12.3.4.Latin America |
| 12.3.5.MEA |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Bio-based Chemicals Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Source Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Bio-Alcohol |
| 13.1.2.Bioplastic |
| 13.1.3.Bio-Lubricant |
| 13.1.4.Bio-Surfactants |
| 13.1.5.Bio-Solvents |
| 13.1.6.Others |
| 13.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Food & Beverages |
| 13.2.2.Agriculture |
| 13.2.3.Automotive |
| 13.2.4.Personal Care |
| 13.2.5.Packaging |
| 13.2.6.Detergents & Cleaner |
| 13.2.7.Paints and Coating |
| 13.2.8.Others |
| 13.3. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.North America |
| 13.3.2.Europe |
| 13.3.3.The Asia Pacific |
| 13.3.4.Latin America |
| 13.3.5.MEA |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Lyondell Basell Industries Holdings BV |
| 14.2.2.BASF SE |
| 14.2.3.Thermo Fisher Scientific |
| 14.2.4.Ultimate Chem India Pvt. Ltd |
| 14.2.5.Alpha Chemika |
| 14.2.6.Haihang Industry |
| 14.2.7.Ronas Chemicals |
| 14.2.8.Merck KGaA |
| 14.2.9.Alfa Aesar |
| 14.2.10.FUSO CHEMICAL CO., LTD. |
| 14.2.11.FUJIFILM Wako Pure Chemical Corporation |
| 14.2.12.Dupont |
| 14.2.13.Braskem |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.