The Asia-Pacific bio-based platform chemicals market is estimated to grow at a higher rate during the forecast period 2018-2023. China is estimated to lead the regional market supported by the ongoing surge in demand owing to government’s regulations and increasing customer’s preference for eco-friendly products over conventional petro-based 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.
China has accounted the highest market share among other South 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. The market in this region is driven by the availability of raw materials, growing awareness against traditional petro-based products and other factors. The countries, like India, ASEAN countries, etc. are expected to have faster growth rate during the forecast period.
Major Players: BASF SE, BioAmber, Cargill, Myriant Corporation, PTT Global Chemical Public Company, DSM, etc., among others.
1.1 Research Phases
1.2 Scope of the Report
1.3 Study Deliverables
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)
6.4 South Korea
6.5 ASEAN Countries
6.6 Rest of Asia-Pacific
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 Aktin Chemicals, Inc.
9.2 BASF SE
9.3 BioAmber Inc
9.5 Cargill Incorporated
9.7 Evonik Industries AG
9.9 Kawasaki Kasei Chemicals
9.10 Koninklijke DSM N.V.
9.11 LyondellBasell Chemicals
9.12 Mitsui Chemicals, Inc
9.13 Myriant Corporation.
9.14 Nippon Shokubai Co., Ltd.
9.16 PTT Global Chemical Public Company
9.17 Qingdao Kehai Biochemistry Co., LTD.
9.18 Tokyo Chemical Industry Co., Ltd
9.19 Yantai shanshui chemical technology Co. Ltd.
9.20 Yield10Bioscience, Inc.
*list not exhaustive
** subject to availability on public domain