Global Bio-Based Chemicals Market | Inkwood Research

GLOBAL BIO-BASED CHEMICALS MARKET FORECAST 2019-2027

• The market for the bio-based chemical is anticipated to grow at a CAGR of 16.67% over the forecast period of 2019-2027. • The numerous government policies towards business sustainability programs, preference for the usage of the ecofriendly product among the end users, intensive fluctuations in the crude oil prices, and the high market probable of biobased chemical products are some of the major drivers responsible for the boom in the bio-based chemical market.

• The bio-based markets can be segmented on the basis of the type of products and the basis of applications.

• The biofuels market, which comprises of biodiesel, biogas and solid biomass, generated the highest revenue in 2018, it is the bioplastics market which is anticipated to grow at a faster CAGR during the forecast period.

• The industrial chemicals that include succinic acid, industrial alcohol, bio-based dyes, lactic acid, glycerol, acrylic acid and others, is the application which is currently dominating the global bio-based chemical market.

• The governments of different countries are taking necessary steps which are acting as a key driver for this market to progress.

“Global bio-based chemicals market is expected to grow with a 16.67% CAGR over the forecast period of 2019-2027.

The bio-based chemical market in North America is one of the prominent markets globally and is expected to grow with a CAGR of 17.55% over the forecast period of 2019-2027.

The Europe concrete admixtures construction chemical market is expected to grow at a CAGR of 3.79% from 2019 to 2027.

The Asia-Pacific bio-based chemicals market contributed the highest market share in the global bio-based chemicals market in 2018.

The major players in the global bio-based chemicals market are Bioamber Inc., Royal DSM NV, Yield10 Bioscience, Mitsui & Co., Ltd., BASF SE, PTT Global, GC Innovation America, Teijin Limited, Corbion NV, Natureworks LLC, Novozymes A.S., Methanex Corporation, Mitsubishi Chemical Holdings Corporation, Synbra, Danimer Scientifican Inc., Abengoa, S.A., Zhejiang Hisun Biomaterials Co., Ltd., Braskem and Cargill Incorporated.