Summary
Bio-based Platform Chemicals Market in South America-Segmented by Product Type , By Raw Material , and Geography-Trends and Forecasts ( 2017-2022 ). The bio-based platform chemicals market has been studied for market size , growth , and forecast by segmentation by geography into Argentina , Brazil , Chile , Peru , Colombia and the Rest of South America .
Description
The bio-based platform chemicals market in South America 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 .
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Bio-based platform chemicals market is segmented by product types 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 . The market has also been segmented by the raw material type into : carbohydrates , fats and oil , and lignin .
Market Dynamics of the Bio-based Platform Chemicals Market in South America :
Depleting natural resources and stringent government regulations are the major drivers of the bio-based platform chemicals market in the South American region . However , the market faces certain drawbacks such as the huge competition from fossil-fuel products .
The bio-based platform chemicals market has been studied for market size , growth , and forecast by segmentation by geography into Argentina , Brazil , Chile , Peru , Colombia and the Rest of South America . Brazil is the leading consumer of bio-based platform chemicals in South America in 2015 accounting for a share of XX %.
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Furthermore , the shifting focus towards organic alternatives and shifting focus towards eco-friendly products and technological advancements will offer numerous opportunities for the growth of the biobased platform chemicals market .
Some of the major companies dominating the market with its products , and continuous product
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