Scienza e Tecnologia
Bio-Based Platform Chemical Production to Double Over Next Ten Years, Pharma Manufacturing to Derive the Demand
NEW YORK , Sept. 29, 2021 /PRNewswire/ -- Fact.MR projects the bio-based platform chemicals market to exhibit 8% CAGR between 2021 and 2031. Sales of bio-based platform chemicals is expected to total US$ 23 Bn through the assessment period. The increasing application in pharmaceutical and cosmetics industries will continue driving sales in the market.
Rising consumption of C-3 platform chemicals, coupled with the growing demand for environmental-friendly and bio based chemicals in diverse end-use industries will push growth in the bio-based platform chemicals market.
Besides this, the market will continue gaining from product innovations such as development of superabsorbent polymers (SAPs). These polymers exhibit superior capability of water absorption and are therefore extensively used in the production of diapers, adult incontinence pads, absorbent medical dressings, and controlled release drugs.
Sales of bio-based platform chemicals are expected to rise considerably, thanks to the implementation of favorable government initiatives supporting sustainability in chemical production and encouraging research initiatives in the field of green chemistry.
Based on these factors, the demand for bio-based sorbitol and C-6 platform chemicals will continue increasing, enabling growth in the market through 2031.
" says a Fact.MR analyst.
Presence of numerous players has led to intense competition in the market. Key companies are emphasizing on product launches and collaborations to gain competitive edge. They also are collaborating with other bio-based chemicals suppliers to sustain their position in the industry
For instance,
Recently, Lygos Inc. announced its collaboration with bio-based chemicals manufacturer, Bioindustrial Manufacturing and Design Ecosystem to improve prototyping and reduce commercialization costs for bio-based platform chemicals.
In October 2020 , another leading player, Virent Inc. announced its merger with Cargill Inc for the development and production of drop-in, low-carbon biofuels, and biochemical for applications such as jet fuel and gasoline.
Some of the leading players operating in the bio-based platform chemicals market profiled by Fact.MR are:
In its latest report, Fact.MR report on global bio-based platform chemicals market offers unbiased analysis, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021 and 2031. The study also provides detailed analysis on the market which is segmented on the basis of:
Due to significant population expansion in the recent decade and income rise of middle-class groups in emerging nations, the cosmetic and toiletry chemicals market is expected to see high demand over the forecast period. With a growing consumer base, there is a growing need for high-quality cosmetics, which is expected to become a trend in the cosmetics and toiletry chemicals market. Furthermore, urban women in well-developed urban cities use at least five cosmetic and skincare products each day, presenting considerable prospects for the cosmetic and toiletry chemicals market.
The market for bio produced acetic acid is primarily driven by demand from the food and chemical industries. One of the causes for overall market growth in terms of value is a significant increase in sales of sugar-based bio-acetic acid. The cause for market expansion is an increase in bio-based acetic acid production across the globe, as well as an increase in the acceptance of bio-based chemicals across industries, ranging from personal care to chemicals. The need for bio-based acetic acid will be boosted by the demand for polymeric binders in paints and coatings applications.
The worldwide effort to replace fossil fuels with biofuels for a more sustainable ecosystem has resulted in a huge growth in biofuel output. Environmentalists and policymakers throughout the world are concerned about greenhouse gas pollution, fossil resource depletion, and reliance on unreliable foreign suppliers, which is likely to drive up biofuel production and consumption. The most profitable region for biofuel demand will continue to be North America . Sugarcane, corn, and soybean production have enough harvest land in North America . As a result, it is self-sufficient in terms of biofuel feedstock.
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