The report on Bio-Based Platform Chemicals Market by type (Glycerol, 3-Hydroxypropionic Acid, Succinic,
Fumaric, Malic & Aspartic Acid, Levulinic, Xylitol), by applications (agriculture, bio fuels, bio plastics, food
applications, industrial chemicals, pharmaceuticals) trends analysis and forecasts up to 2023 studies the market
sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific, Rest of
the World. According to the report the Global Bio-Based Platform Chemicals Market is projected to grow at a
CAGR of 8% in terms of value over the period of 2017-2023. The growth in the world market is primarily driven by
significant contribution by North America (Leading region) region to this market.
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Market Insights
Increasing acceptance of bio-based platform chemicals in food and beverages, personal care and pharmaceuticals
industries are driving the growth of the bio-based platform chemicals market. The demand for environmental
friendly bio-cleaning applications is expected to grow significantly during the forecast period. The preference
showed by consumers for environmental friendly applications made from bio sources is a major factor in the
growth of the global bio-based platform chemicals market. The limited reserves of non-renewable resources such
as coal, gas, and oil, along with the increasing pollution related to those resources are expected provide boost the
growth of the bio chemicals market. Moreover, the stringent government guidelines force many sectors to move
towards bio-based platform chemicals over conventional petroleum based chemicals. Unhindered availability of
raw materials, adverse weather conditions, price fluctuations of petroleum-based chemicals are the main
challenges expected to affect the prospects of major players in the market.
Segments Covered:
The report segments the global bio-based platform chemicals market by type, applications and region. On the
basis of type, the market is segmented as C-3 (including Glycerol, 3-Hydroxypropionic Acid), C-4 (Succinic,