Bio-Based Chemicals Market By Size, Share, Trends, Growth, Forecast 2028

Report Description

Global Bio-Based Chemicals Market is anticipated to grow at a robust CAGR in the forecast period, 2024-2028. The growing environmental concerns along with the rising need to minimize greenhouse emissions is expected to increase the demand for bio-based chemicals in the coming years. Additionally, increasing usage of bio-based chemicals in various end user industries, including chemical, pharmaceutical, food, and beverage, among others is expected to drive the growth of global bio-based chemicals market.

Moreover, Bio-based chemicals are necessary due to the depletion of fossil fuels and the development of strict government laws regarding emissions and waste generation and management. Governmental and non-governmental agencies across different parts of the globe are taking initiatives and making continuous attempts to promote green biotechnology and corporate sustainability programmes, such as prohibiting plastic bags in certain areas and restricting the dissemination of disposable carry bags. All these factors are expected to create lucrative opportunities for the growth of global bio-based chemicals market in the coming years.

Increasing Demand of Renewable Energy Sources

The market for bio-based chemicals is anticipated to grow due to the rising demand for renewable sources to reduce the effects of pollution and emissions of greenhouse gases. According to the International Energy Agency (IEA), in 2020, there was a 3% growth in the usage of renewable energy as demand for all other fuels dropped. The biggest driver was an almost 7% increase in electricity production from renewable sources. The initiatives to minimize harmful emissions because of their impact on the environment have increased demand for products made from bio-based materials in sectors like transportation, textiles, and building.

Supportive Governmental Measures Towards Sustainability Goals

Bio-based chemicals are supported as more environmentally friendly substitutes for petroleum-based chemicals as they become more economically and sustainably viable, improving the chemical and oil industries. Additionally, the expansion of the market is influenced by rising government initiatives to support biodegradable materials and sustainability programs, such as prohibiting plastic bags in some areas and restrictions placed on the uncontrolled distribution of disposable carry bags. As per the European Commission, the global market for renewable chemicals was worth USD85.6 billion in 2020, up from USD51.7 billion in 2015. Furthermore, according to the European Commission, the yearly revenue from bio-based chemicals and biofuels is estimated to be over USD58.97 billion, supporting 300,000 jobs.

Recent Developments

The industrial development of new bio-based materials for cutting-edge technological applications is getting the most interest. Bio-based, revolutionary plastics industry solutions undoubtedly hold the most suitable position. Poly(hydroxyalkanoate)s (PHAs) are being studied as potential biodegradable replacements for various commercial polymers such as HDPE, PP, and others.

PHAs are particularly appealing because they may be produced using biotechnological methods from a variety of carbon-rich biomass feedstocks, such as agricultural wastes, organic fractions of solid municipal wastes, and urban wastewater.

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Market Segmentation

Global Bio-Based Chemicals Market is segmented based on Product Type, and End-Use. Based on Product Type, the market is divided into Surfactants, Paints & Coatings, Inks and Dyes, Man-made Fibres, Cosmetics and Personal care, Adhesives, Lubricants and Others. Based on End-Use, the market is divided into Industrial, Agricultural, Pharmaceutical, and Others.

Market players

BASF SE, BioAmber Inc., DaniMer Scientific, DSM, Metabolix, Mitsubishi Chemical, Mitsui & Co., Ltd., Myriant Technologies LLC, NatureWorks LLC, PTT Global Chemical Public Company Limited are some of the key players operating in the global bio-based chemicals market.

Attribute	Details
Base Year	2022
Historic Data	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Million, Volume in metric tons, and CAGR for 2017-2021 and 2022-2027
Report coverage	Revenue forecast, Volume Forecast, company share, competitive landscape, growth factors, and trends
Segments covered	· Product Type · End-Use
Regional scope	Europe, North America, Asia Pacific, Middle East & Africa, South America
Country scope	France, Germany, United Kingdom, Italy, Spain; United States, Canada, Mexico; China, India, Japan, South Korea, Australia; Saudi Arabia, UAE, South Africa; Brazil, Argentina, Colombia
Key companies profiled	BASF SE, BioAmber Inc., DaniMer Scientific, DSM, Metabolix, Mitsubishi Chemical, Mitsui & Co., Ltd., Myriant Technologies LLC, NatureWorks LLC, PTT Global Chemical Public Company Limited
Customization scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, global plastic films & sheets market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Bio-Based Chemicals Market, By Product Type:

Surfactants
Paints & Coatings
Inks and Dyes
Man-made Fibres
Cosmetics and Personal care
Adhesives
Lubricants
Others

Bio-Based Chemicals Market, By End-Use:

Industrial
Agricultural
Pharmaceutical
Others

Bio-Based Chemicals Market, By region:

Europe

France
Germany
United Kingdom
Italy
Spain

North America

United States
Canada
Mexico

Asia-Pacific

China
India
Japan
Australia
South Korea

Middle East and Africa

Saudi Arabia
UAE
South Africa

South America

Brazil
Argentina
Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global Plastic Films & Sheets market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Bio-Based Chemicals market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Global Bio-Based Chemicals Market Outlook

4.1. Market Size & Forecast

4.1.1. By Value & Volume

4.2. Market Share & Forecast

4.2.1. By Product Type (Surfactants, Paints & Coatings, Inks and Dyes, Man-made Fibres, Cosmetics & Personal care, Adhesives, Lubricants, Others)

4.2.2. By End-Use (Industrial, Agricultural, Pharmaceutical, and Others)

4.2.3. By Region (Europe, North America, Asia Pacific, Middle East & Africa, South America)

4.2.4. By Company (2022)

4.3. Market Map

4.3.1. By Product Type

4.3.2. By End-Use

4.3.3. By Region

4.4. Pricing Analysis

5. Europe Bio-Based Chemicals Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value & Volume

5.2. Market Share & Forecast

5.2.1. By Product Type

5.2.2. By End-Use

5.2.3. By Country

5.3. Pricing Analysis

5.4. Europe: Country Analysis

5.4.1. France Bio-Based Chemicals Market Outlook

5.4.1.1. Market Size & Forecast

5.4.1.1.1. By Value & Volume

5.4.1.2. Market Share & Forecast

5.4.1.2.1. By Product Type

5.4.1.2.2. By End-Use

5.4.2. Germany Bio-Based Chemicals Market Outlook

5.4.2.1. Market Size & Forecast

5.4.2.1.1. By Value & Volume

5.4.2.2. Market Share & Forecast

5.4.2.2.1. By Product Type

5.4.2.2.2. By End-Use

5.4.3. United Kingdom Bio-Based Chemicals Market Outlook

5.4.3.1. Market Size & Forecast

5.4.3.1.1. By Value & Volume

5.4.3.2. Market Share & Forecast

5.4.3.2.1. By Product Type

5.4.3.2.2. By End-Use

5.4.4. Italy Bio-Based Chemicals Market Outlook

5.4.4.1. Market Size & Forecast

5.4.4.1.1. By Value & Volume

5.4.4.2. Market Share & Forecast

5.4.4.2.1. By Product Type

5.4.4.2.2. By End-Use

5.4.5. Spain Bio-Based Chemicals Market Outlook

5.4.5.1. Market Size & Forecast

5.4.5.1.1. By Value & Volume

5.4.5.2. Market Share & Forecast

5.4.5.2.1. By Product Type

5.4.5.2.2. By End-Use

6. North America Bio-Based Chemicals Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value & Volume

6.2. Market Share & Forecast

6.2.1. By Product Type

6.2.2. By End-Use

6.2.3. By Country

6.3. Pricing Analysis

6.4. North America: Country Analysis

6.4.1. United States Bio-Based Chemicals Market Outlook

6.4.1.1. Market Size & Forecast

6.4.1.1.1. By Value & Volume

6.4.1.2. Market Share & Forecast

6.4.1.2.1. By Product Type

6.4.1.2.2. By End-Use

6.4.2. Canada Bio-Based Chemicals Market Outlook

6.4.2.1. Market Size & Forecast

6.4.2.1.1. By Value & Volume

6.4.2.2. Market Share & Forecast

6.4.2.2.1. By Product Type

6.4.2.2.2. By End-Use

6.4.3. Mexico Bio-Based Chemicals Market Outlook

6.4.3.1. Market Size & Forecast

6.4.3.1.1. By Value & Volume

6.4.3.2. Market Share & Forecast

6.4.3.2.1. By Product Type

6.4.3.2.2. By End-Use

7. Asia-Pacific Bio-Based Chemicals Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value & Volume

7.2. Market Share & Forecast

7.2.1. By Product Type

7.2.2. By End-Use

7.2.3. By Country

7.3. Pricing Analysis

7.4. Asia-Pacific: Country Analysis

7.4.1. China Bio-Based Chemicals Market Outlook

7.4.1.1. Market Size & Forecast

7.4.1.1.1. By Value & Volume

7.4.1.2. Market Share & Forecast

7.4.1.2.1. By Product Type

7.4.1.2.2. By End-Use

7.4.2. India Bio-Based Chemicals Market Outlook

7.4.2.1. Market Size & Forecast

7.4.2.1.1. By Value & Volume

7.4.2.2. Market Share & Forecast

7.4.2.2.1. By Product Type

7.4.2.2.2. By End-Use

7.4.3. Japan Bio-Based Chemicals Market Outlook

7.4.3.1. Market Size & Forecast

7.4.3.1.1. By Value & Volume

7.4.3.2. Market Share & Forecast

7.4.3.2.1. By Product Type

7.4.3.2.2. By End-Use

7.4.4. South Korea Bio-Based Chemicals Market Outlook

7.4.4.1. Market Size & Forecast

7.4.4.1.1. By Value & Volume

7.4.4.2. Market Share & Forecast

7.4.4.2.1. By Product Type

7.4.4.2.2. By End-Use

7.4.5. Australia Bio-Based Chemicals Market Outlook

7.4.5.1. Market Size & Forecast

7.4.5.1.1. By Value & Volume

7.4.5.2. Market Share & Forecast

7.4.5.2.1. By Product Type

7.4.5.2.2. By End-Use

8. Middle East and Africa Bio-Based Chemicals Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value & Volume

8.2. Market Share & Forecast

8.2.1. By Product Type

8.2.2. By End-Use

8.2.3. By Country

8.3. Pricing Analysis

8.4. MEA: Country Analysis

8.4.1. Saudi Arabia Bio-Based Chemicals Market Outlook

8.4.1.1. Market Size & Forecast

8.4.1.1.1. By Value & Volume

8.4.1.2. Market Share & Forecast

8.4.1.2.1. By Product Type

8.4.1.2.2. By End-Use

8.4.2. UAE Bio-Based Chemicals Market Outlook

8.4.2.1. Market Size & Forecast

8.4.2.1.1. By Value & Volume

8.4.2.2. Market Share & Forecast

8.4.2.2.1. By Product Type

8.4.2.2.2. By End-Use

8.4.3. South Africa Bio-Based Chemicals Market Outlook

8.4.3.1. Market Size & Forecast

8.4.3.1.1. By Value & Volume

8.4.3.2. Market Share & Forecast

8.4.3.2.1. By Product Type

8.4.3.2.2. By End-Use

9. South America Bio-Based Chemicals Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value & Volume

9.2. Market Share & Forecast

9.2.1. By Product Type

9.2.2. By End-Use

9.2.3. By Country

9.3. Pricing Analysis

9.4. South America: Country Analysis

9.4.1. Brazil Bio-Based Chemicals Market Outlook

9.4.1.1. Market Size & Forecast

9.4.1.1.1. By Value & Volume

9.4.1.2. Market Share & Forecast

9.4.1.2.1. By Product Type

9.4.1.2.2. By End-Use

9.4.2. Argentina Bio-Based Chemicals Market Outlook

9.4.2.1. Market Size & Forecast

9.4.2.1.1. By Value & Volume

9.4.2.2. Market Share & Forecast

9.4.2.2.1. By Product Type

9.4.2.2.2. By End-Use

9.4.3. Colombia Bio-Based Chemicals Market Outlook

9.4.3.1. Market Size & Forecast

9.4.3.1.1. By Value & Volume

9.4.3.2. Market Share & Forecast

9.4.3.2.1. By Product Type

9.4.3.2.2. By End-Use

10. Market Dynamics

10.1. Drivers

10.1.1. Increasing Demand of Renewable Energy Sources

10.1.2. Supportive governmental measures towards sustainability goals

10.1.3. Usage of eco-friendly products

10.2. Challenges

10.2.1. High cost of bio-based chemicals

10.2.2. Dearth of supply chains in feedstock and raw materials

11. Market Trends & Developments

11.1. Increasing Investments in Research & Development Activities

11.2. Technological Advancements

12. Global Bio-Based Chemicals Market: SWOT Analysis

13. Porter’s Five Forces Analysis

13.1. Competition in the Industry

13.2. Potential of New Entrants

13.3. Power of Suppliers

13.4. Power of Customers

13.5. Threat of Substitute Products

14. Competitive Landscape

14.1. Business Overview

14.2. Company Snapshot

14.3. Products & Services

14.4. Financials (In case of listed companies)

14.5. Recent Developments

14.6. SWOT Analysis

14.6.1. BASF SE

14.6.2. BioAmber Inc.

14.6.3. DaniMer Scientific

14.6.4. DSM

14.6.5. Metabolix

14.6.6. Mitsubishi Chemical

14.6.7. Mitsui & Co., Ltd.

14.6.8. Myriant Technologies LLC

14.6.9. NatureWorks LLC

14.6.10. PTT Global Chemical Public Company Limited

15. Strategic Recommendations

Figures and Tables

Frequently asked questions

What are the major drivers for the Bio-Based Chemicals Market?

Usage of eco-friendly products and Increasing Awareness are expected to drive the demand for Bio-Based Chemicals Market.

Who are the top players operating in the Bio-Based Chemicals Market?

Which End-Use is expected to dominate the Bio-Based Chemicals Market in the forecast period?

Due to the high demand for these products from numerous end users, including engineered polymers, composites, additives, and others, the Industrial segment is predicted to dominate the market over the forecast period.

Which region is expected to account for the largest Bio-Based Chemicals Market share?

The global market for bio-based chemicals is anticipated to be dominated by Europe. The factors driving growth in this area are industrial expansion, rising crude oil prices, and rising environmental concerns. The region's natural resources are being used up faster than they can be replenished, which has prompted governments to enact stricter environmental policies and restrictions. Additional factors contributing to the market expansion in this region include expanding international player presence, technological developments, and increasing R&D efforts.

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