Bio-based Platform Chemicals Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Product Type (Bio Glycerol, Bio Glutamic Acid, Bio Itaconic Acid, Bio-3-Hydroxypropionic Acid, Bio Succinic Acid, and Others), and Geography

Market Snapshot

Bio-based Platform Chemicals Market - Market Summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

The market for bio-based platform chemicals is expected to grow at a CAGR of around 9% during the forecast period of 2019 – 2024. The major factors driving the growth of market studied are rising demand from the pharmaceutical industry, and stringent government regulations on conventional petroleum-based products. On the flipside, raw material shortage, and fitted competition from oil based platform chemicals are likely to hinder the growth of the studied market.

  • Bio-glycerol segment dominated the market in 2018 and is expected to grow during the forecast period with growing demand from industries, such as pharmaceutical, cosmetics, food & beverages, etc.    
  • Increasing consumer inclination towards eco-friendly products, and technological modification are likely to provide opportunities for the studied market during the forecast period.
  • North America dominated the market across the globe, with is fueled by huge investment into its pharmaceutical industry, and stringent regulations promoting the use of environmental friendly products.

Scope of the Report

The bio-based platform chemicals market report include:

Product Type
Bio Glycerol
Bio Glutamic Acid
Bio Itaconic Acid
Bio-3-Hydroxypropionic Acid
Bio Succinic Acid
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
South Africa
Saudi Arabia
Rest of Middle East & Africa

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Key Market Trends

Bio-Glycerol Segment to Witness Strong Growth

  • Bio-glycerol is a major by-product during the production of bio-diesel through transesterification of triglycerides (fats & vegetable oil feedstocks) with methanol.
  • For each triglyceride mole conversion during the biodiesel production process, an equimolar quantity of glycerol is produced, i.e. with a production of 100 kilograms of biodiesel, about 10 kilograms of crude glycerol is produced.
  • Bio-based glycerol is comparatively economical and is used as a feedstock in various products, like butanol, 1,3-propanediol, 2,3-butanediol, citric acid, and poly (hydroxyalkanoates).
  • Bio-glycerol is widely used in various end-user industries, such as cosmetics, pharmaceuticals, food & beverages, resins, detergents, plastics, and tobacco.
  • The demand for bio-glycerol is mainly driven due to the growing demand in countries, like China, India, Indonesia, United States, and Saudi Arabia.
  • In addition to the largest market share, bio-glycerol is also expected to be the fastest growing product segment during the forecast period.
Bio-based Platform Chemicals Market - Segmentation Trends

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North America Region to Dominate the Market

  • North America region dominated the global market share in 2018 and is likely to continue holding largest share during the forecast period, owing to government regulations promoting the use of bio-based products, and continuous research & innovations in the field of technological modification.
  • Moreover, stringent regulations related to petroleum-based platform chemicals, and depletion of fossil fuel reserves further provides growth opportunity for the bio-based platform chemicals market in the region.
  • In addition, end-user industries, such as food & beverage, cosmetics, pharmaceutical, and fertilizer industries in the country are strictly regulated in order to avoid negative effects on the health of citizens. In this regards, these industries are more likely to shift to bio-based raw materials as compared to petroleum-based raw materials.
  • With research & development of bio-based platform chemicals and exploration of its beneficial applications in such industries can lead to mandate the use of such bio-based platform chemicals in the region.
  • Hence, all such factors are likely to drive the demand for bio-based platform chemicals in the region during the forecast period.
Bio-based Platform Chemicals Market - Regional Trends

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Competitive Landscape

The bio-based platform chemicals market is a consolidated market, where few players account for significant portion of the market demand. Some of the major players in the market include BASF SE, Cargill, Incorporated, Koninklijke DSM N.V., PTT Global Chemical Public Company, and Champlor (Valtris Specialty Chemicals), amongst others.

Major Players

  1. BASF SE
  2. Cargill, Incorporated
  3. Koninklijke DSM N.V.
  4. PTT Global Chemical Public Company
  5. Champlor (Valtris Specialty Chemicals)

* Complete list of players covered available in the table of contents below

Bio-based Platform Chemicals Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rising Demand from the Pharmaceutical Industry

      2. 4.1.2 Stringent Government Regulations on Conventional Petroleum-based Products

    2. 4.2 Restraints

      1. 4.2.1 Raw Material Shortage

      2. 4.2.2 Fitted Competition from Oil-based Platform Chemicals

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters 5 Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Bio Glycerol

      2. 5.1.2 Bio Glutamic Acid

      3. 5.1.3 Bio Itaconic Acid

      4. 5.1.4 Bio-3-Hydroxypropionic Acid

      5. 5.1.5 Bio Succinic Acid

      6. 5.1.6 Others

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Mexico

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 United Kingdom

        3. 5.2.3.3 Italy

        4. 5.2.3.4 France

        5. 5.2.3.5 Rest of Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle East & Africa

        1. 5.2.5.1 South Africa

        2. 5.2.5.2 Saudi Arabia

        3. 5.2.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Aktin Chemicals Inc..

      2. 6.4.2 BASF SE

      3. 6.4.3 Braskem

      4. 6.4.4 Cargill Incorporated

      5. 6.4.5 Champlor (Valtris Specialty Chemicals)

      6. 6.4.6 DuPont

      7. 6.4.7 Koninklijke DSM N.V.

      8. 6.4.8 Evonik Industries AG

      9. 6.4.9 GFBiochemicals Ltd.

      10. 6.4.10 Kawasaki Kasei Chemicals Ltd.

      11. 6.4.11 LyondellBasell Industries Holdings B.V.

      12. 6.4.12 Nippon Shokubai Co. Ltd

      13. 6.4.13 Novozymes

      14. 6.4.14 PTT Global Chemical Public Company

      15. 6.4.15 Tokyo Chemical Industry Co. Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Consumer Inclination towards Eco-friendly Products

    2. 7.2 Technological Modification

**Subject to Availability

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