Bio-Based Chemicals Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Product Type (Surfactants, Paints & Coatings, Inks and Dyes, Man-made Fibres, Cosmetics & Personal Care, Adhesives, Lubricants, Others), By End-Use (Industrial, Agricultural, Pharmaceutical, Others), By Region, and By Competition
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationBio-Based Chemicals Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Product Type (Surfactants, Paints & Coatings, Inks and Dyes, Man-made Fibres, Cosmetics & Personal Care, Adhesives, Lubricants, Others), By End-Use (Industrial, Agricultural, Pharmaceutical, Others), By Region, and By Competition
Global Bio-Based Chemicals Market is anticipated to grow at a robust CAGR in the forecast period, 2024-2028. The growing environmental concerns along with the rising need to minimize greenhouse emissions is expected to increase the demand for bio-based chemicals in the coming years. Additionally, increasing usage of bio-based chemicals in various end user industries, including chemical, pharmaceutical, food, and beverage, among others is expected to drive the growth of global bio-based chemicals market.
Moreover, Bio-based chemicals are necessary due to the depletion of fossil fuels and the development of strict government laws regarding emissions and waste generation and management. Governmental and non-governmental agencies across different parts of the globe are taking initiatives and making continuous attempts to promote green biotechnology and corporate sustainability programmes, such as prohibiting plastic bags in certain areas and restricting the dissemination of disposable carry bags. All these factors are expected to create lucrative opportunities for the growth of global bio-based chemicals market in the coming years.
Increasing Demand of Renewable Energy Sources
According to the International Energy Agency (IEA), in 2020, there was a 3% growth in the usage of renewable energy as demand for all other fuels dropped. The biggest driver was an almost 7% increase in electricity production from renewable sources.
Supportive Governmental Measures Towards Sustainability Goals
As per the European Commission, the global market for renewable chemicals was worth USD85.6 billion in 2020, up from USD51.7 billion in 2015. Furthermore, according to the European Commission, the yearly revenue from bio-based chemicals and biofuels is estimated to be over USD58.97 billion, supporting 300,000 jobs.
Recent Developments
The industrial development of new bio-based materials for cutting-edge technological applications is getting the most interest. Bio-based, revolutionary plastics industry solutions undoubtedly hold the most suitable position. Poly(hydroxyalkanoate)s (PHAs) are being studied as potential biodegradable replacements for various commercial polymers such as HDPE, PP, and others.
PHAs are particularly appealing because they may be produced using biotechnological methods from a variety of carbon-rich biomass feedstocks, such as agricultural wastes, organic fractions of solid municipal wastes, and urban wastewater.
Market Segmentation
Global Bio-Based Chemicals Market is segmented based on
Market players
BASF SE, BioAmber Inc., DaniMer Scientific, DSM, Metabolix, Mitsubishi Chemical, Mitsui & Co., Ltd., Myriant Technologies LLC, NatureWorks LLC, PTT Global Chemical Public Company Limited are some of the key players operating in the global bio-based chemicals market.
|
Attribute |
Details |
|
Base Year
|
2022 |
|
Historic
Data |
2018 – 2021 |
|
Estimated
Year |
2023 |
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Forecast
Period |
2024 – 2028 |
|
Quantitative
Units |
Revenue in USD Million, Volume in metric tons, and CAGR for 2017-2021
and 2022-2027 |
|
Report
coverage |
Revenue
forecast, Volume Forecast, company share, competitive landscape, growth
factors, and trends |
|
Segments
covered |
·
Product Type ·
End-Use |
|
Regional
scope |
Europe, North
America, Asia Pacific, Middle East & Africa, South America |
|
Country
scope |
France, Germany, United Kingdom, Italy, Spain; United States,
Canada, Mexico; China, India, Japan, South Korea, Australia; Saudi Arabia,
UAE, South Africa; Brazil, Argentina, Colombia |
|
Key
companies profiled |
BASF SE,
BioAmber Inc., DaniMer Scientific, DSM, Metabolix, Mitsubishi Chemical,
Mitsui & Co., Ltd., Myriant Technologies LLC, NatureWorks LLC, PTT Global
Chemical Public Company Limited |
|
Customization
scope |
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope. |
|
Pricing
and purchase options |
Avail
customized purchase options to meet your exact research needs. Explore purchase options |
|
Delivery
Format |
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request) |
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