Market Snapshot
2016-2024
2018
Asia Pacific
North America
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Market Overview
The market for bio-based platform chemicals is expected to witness a CAGR of around 9% during the forecast period, 2019–2024. The major factors driving the growth of the 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 and beverages, etc.
- Increasing consumer inclination toward 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 world, which is fueled by huge investment into its pharmaceutical industry, and stringent regulations promoting the use of environmentally friendly products.
Scope of the Report
The bio-based platform chemicals market report includes:
| Product Type | |
| Bio Glycerol | |
| Bio Glutamic Acid | |
| Bio Itaconic Acid | |
| Bio-3-Hydroxypropionic Acid | |
| Bio Succinic Acid | |
| Other Product Types |
| Geography | |||||||
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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 and 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 and beverages, resins, detergents, plastics, and tobacco.
- The demand for bio-glycerol is mainly driven by 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.
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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 the largest share during the forecast period, owing to government regulations promoting the use of bio-based products, and continuous research and 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 and 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 when compared to petroleum-based raw materials.
- Research and 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.
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Competitive Landscape
The bio-based platform chemicals market is a consolidated market, where few players account for a significant portion of the market demand. Some of the major players in the market include BASF SE, Cargill Incorporated, Koninklijke DSM NV, PTT Global Chemical Public Company, and Champlor (Valtris Specialty Chemicals) amongst others.
Major Players
- BASF SE
- Cargill Incorporated
- Koninklijke DSM NV
- PTT Global Chemical Public Company
- Champlor (Valtris Specialty Chemicals)
* Complete list of players covered available in the table of contents below
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Rising Demand from the Pharmaceutical Industry
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4.1.2 Stringent Government Regulations on Conventional Petroleum-based Products
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4.2 Restraints
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4.2.1 Raw Material Shortage
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4.2.2 Fitted Competition from Oil-based Platform Chemicals
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4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Product Type
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5.1.1 Bio Glycerol
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5.1.2 Bio Glutamic Acid
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5.1.3 Bio Itaconic Acid
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5.1.4 Bio-3-Hydroxypropionic Acid
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5.1.5 Bio Succinic Acid
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5.1.6 Other Product Types
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5.2 Geography
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5.2.1 Asia-Pacific
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5.2.1.1 China
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5.2.1.2 India
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5.2.1.3 Japan
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5.2.1.4 South Korea
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5.2.1.5 Rest of Asia-Pacific
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5.2.2 North America
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5.2.2.1 United States
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5.2.2.2 Canada
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5.2.2.3 Mexico
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5.2.3 Europe
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5.2.3.1 Germany
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5.2.3.2 United Kingdom
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5.2.3.3 Italy
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5.2.3.4 France
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5.2.3.5 Rest of Europe
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5.2.4 South America
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5.2.4.1 Brazil
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5.2.4.2 Argentina
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5.2.4.3 Rest of South America
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5.2.5 Middle East & Africa
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5.2.5.1 South Africa
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5.2.5.2 Saudi Arabia
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5.2.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Aktin Chemicals Inc.
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6.4.2 BASF SE
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6.4.3 Braskem
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6.4.4 Cargill Incorporated
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6.4.5 Champlor (Valtris Specialty Chemicals)
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6.4.6 DuPont
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6.4.7 Koninklijke DSM NV
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6.4.8 Evonik Industries AG
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6.4.9 GFBiochemicals Ltd
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6.4.10 Kawasaki Kasei Chemicals Ltd
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6.4.11 LyondellBasell Industries Holdings BV
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6.4.12 Nippon Shokubai Co. Ltd
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6.4.13 Novozymes
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6.4.14 PTT Global Chemical Public Company
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6.4.15 Tokyo Chemical Industry Co. Ltd
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Increasing Consumer Inclination Toward Eco-friendly Products
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7.2 Technological Modification
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