-- The Global Bio-based Platform Chemicals Market has been estimated at USD XX.XX billion in 2015 and is projected to reach USD XX.XX billion by 2020, at a CAGR of XX.XX% during the forecast period. Platform Chemicals commonly referred to as building block chemicals is one of the fastest growing segment in the bio-based chemicals market. Platform chemicals are basically composed of 2-6 carbons, which are used as an intermediate in the production of various chemicals. However, due to the scarcity of fossil-based products and the rising crude oil prices have shifted the platform chemicals to use renewable resources in its production process. Moreover, the technological advancements in the bio-based products made it possible in developing microbial strains in the production of chemicals.
Bio-based Platform Chemicals is segmented by product type such as Bio Glycerol Acid, Bio Glutamic Acid, Bio Itaconic Acid, Bio-1,4-Diacids, Bio-3-hydroxypropionic Acid, Bio Levulinic Acid, Bio Glucaric Acid, and others. Packaging is the major application in the Bio-based Platform Chemicals market, accounting for a share of XX.XX % in 2015.The automotive segment will be the fastest growing segment, growing at a CAGR of XX.XX% in 2015.
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The market is driven by rising crude oil prices, demand from automobile industry, and stringent government regulations. However, this market faces certain drawbacks such as shortage of raw material and the huge competition form fossil-fuel products.
Europe is the leading consumer of bio-based platform chemicals in 2015 accounting for a share of XX%, followed by North America and APAC. APAC will be the fastest growing market posting a CAGR of XX.XX% in 2015 owing to the availability of cheaper raw materials in the region.
Furthermore, the shifting focus towards organic alternatives and shifting focus towards eco-friendly products and technological advancements will offer numerous opportunities in the growth of the bio-based platform chemicals market. Some of the major companies dominating the market with its products, and continuous product developments are Alpha Chemika, Braskem, BASF, Mitsubishi Chemicals, Lucite International Group, Itaconix Corporation, and BioAmber.
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Key Deliverables in the Study
Market analysis for the Global Bio-based Platform Chemicals Market , with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the global Bio-based Platform Chemicals market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is booming and to also identify the regions that are still untapped
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