Increase in emphasis on sustainable chemical products and growth in demand across various end-use industries are driving the market

WILMINGTON, DELAWARE, UNITED STATES, September 20, 2023/EINPresswire.com/ -- The global Bio-Based Platform Chemicals Market size was valued at US$ 1.7 Bn in 2021 and is expected to expand at a CAGR of 11.9% during the forecast period, reaching US$ 5.3 Bn by 2031.

Bio-based platform chemicals are compounds containing two to six carbons and are derived from renewable resources. They are used as important precursors for producing a variety of chemicals and materials, such as pharmaceuticals, perfumes, solvents, fuels, and polymers. Platform chemicals are two to six carbon-containing compounds derived from fossil fuel resources.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=43019

The platform chemicals, which are derived from the feedstocks of biomass, are known as bio based platform chemicals. The bio-based platform chemicals usually have a wide application in manufacturing industries thus the scope of this market is extensive by nature. These products serve as a suitable alternative to conventional chemicals as they help in reducing the growing dependence on fossil fuels.

Bio-Based Platform Chemicals Market Scope:

Players, stakeholders, and other participants in the Bio-Based Platform Chemicals market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type, and by Application.

Drivers & Restraints:

Depleting Fossil Fuel Resources to Provide Momentum to Market

Bio-based chemicals market growth is driven by the depletion of fossil fuel resources and rising greenhouse gas emissions. These factors have led to increased adoption of biomaterials. Ongoing initiatives to limit harmful emissions is supporting the adoption of Bio-based products across industries. The growing concept of green chemistry will further boost this adoption rate. Supportive government initiatives to limit the usage of harmful chemicals will work in favor of the market growth.

However, the market development could be hampered by the high cost of the product.

𝐃𝐨 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐫𝐲 𝐫𝐞𝐠𝐚𝐫𝐝𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡? 𝐀𝐬𝐤 𝐲𝐨𝐮𝐫 𝐐𝐮𝐞𝐫𝐲 : https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=43019

Some of the major players operating in the Bio-Based Platform Chemicals Market are:

BASF SE, ADM, BioAmber Inc. (ARD), DuPont, Cargill, POET, LLC, Roquette, GFBiochemicals, Yield10 Bioscience Inc. (Metabolix), AVA Biochem AG, Novozymes, Braskem, and Pyran, Inc.

Market Segmentation –

Source
• Pentose Sugar
• Xylose
• Arabinose

Type
• Pentanediol
• Ethanol
• Furfural
• Hydroxymethylfurfural
• 2,5-Furandicarboxylic Acid
• Glycerol
• Isoprene
• Succinic Acid
• 3-Hydroxypropionic Acid/Aldehyde
• Levulinic Acid
• Lactic Acid
• Sorbitol
• Xylitol
• Others

𝐇𝐚𝐯𝐞 𝐀𝐧𝐲 𝐐𝐮𝐞𝐫𝐲? 𝐀𝐬𝐤 𝐎𝐮𝐫 𝐄𝐱𝐩𝐞𝐫𝐭𝐬: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=43019

End-use
• Food & Beverage
• Pharmaceutical
• Chemical
• Plastic
• Biofuel
• Research & Development

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 –

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Nikhil Sawlani
Transparency Market Research Inc.
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