The North America bio-based platform chemicals market is estimated to grow at a moderately high rate during the forecast period (2018-2023). United States is leading the regional market supported by the ongoing surge in demand owing to government’s regulations and increasing customer’s preference of eco-friendly products over traditional harmful products.
Platform chemicals are basically composed of 2-6 carbons, which are used as an intermediate in the production of various chemicals. In 2017, C3 chemicals (bio-glycerol and bio-3-hydroxypropionic acid) together accounted for the highest consumption among all the bio-based platform chemicals owing to their unique properties and usage as different alcohols, acids and resins. Bio-based glycerol is increasing replacing synthetic alternatives that is produced from propene, as a drop-in alternative. 3-hydroxypropionic acid (HPA) can be majorly used as a raw material for the production of bio-based acrylic acid. Other potential applications include the production of 1,3-propanediol, acrylamide, and acrylonitrile.
The stricter regulations for the usage of petro-based products owing to their harmful environmental effects, and continuous decreasing fossil fuel reserve has driven the demand for bio-based platform chemicals. Crude glycerol is the major by-product in the manufacturing of bio-diesel. Continuous R&D and technological advancements are providing opportunities for the bio-based platform chemicals.
United States has accounted the highest market share among other North American countries in this market in 2017 and is expected to continue its dominance in the region at a moderately high CAGR during the forecast period. There is increasing production of bio-succinic acid in Canada by BioAmber Inc. Bio-succinic is the fastest growing bio-based platform chemical, with usage in many end-user application and as intermediary chemicals. Bio-succinic acid can be used as to replace phthalic anhydride, adipic acid, and maleic anhydride in future.
Major Key Players include BioAmber, Myriant, Succinity, Reverdia Cargill, DSM, etc., among others.
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Feedstock Analysis
3.4 Technological Snapshot
3.4.1 Technology Licensing and Patent Analysis
3.5 Supply Scenario
3.5.1 Capacity and Production Analysis
4. Market Dynamics
4.1.1 Growing Demand from the Pharmaceutical Industry
4.1.2 Rising Demand from Automotive Sector
4.1.3 Stringent Government Regulations on Conventional Petro Based Products
4.2.1 Raw Material Shortage
4.2.2 High Manufacturing Costs and High Initial Investments
4.3.1 Shifting focus towards eco-friendly products
4.3.2 Growing Demand from Emerging Economies
4.3.3 Technological Advancements
5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By Product Type
5.1.1 Bio Glutamic Acid
5.1.2 Bio Glycerol
5.1.3 Bio Itaconic Acid
5.1.5 Bio-3-Hydroxypropionic Acid
6. Country Analysis (Market Size, Growth, and Forecast)
6.1 United States
6.4 Rest of North America
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services and Recent Developments)
9.1 BASF SE
9.2 BioAmber Inc
9.4 Cargill Incorporated
9.6 Evonik Industries AG
9.8 Koninklijke DSM N.V.
9.9 LyondellBasell Chemicals
9.10 Mitsui Chemicals, Inc
9.11 Myriant Corporation.
9.12 Nippon Shokubai Co., Ltd.
9.14 PTT Global Chemical Public Company
9.15 Yield10 Bioscience, Inc
*List not exhaustive
**Subject to availability on public domain