World Bio-based Platform Chemicals Market 2016 - $18 Billion Opportunities and Forecasts, 2021 - Research and Markets
Research and Markets has announced the addition of the "World
Bio-based Platform Chemicals Market - Opportunities and Forecasts, 2014
- 2021" report to their offering.
"World Bio-based Platform Chemicals Market Opportunities and Forecasts,
2014-2021", states that the bio-based platform chemicals market would
reach a volume of 14.9 million tons and revenue of $18.8 billion by 2021.
Asia-Pacific held a dominant share in the world bio-based platform
chemicals market in 2015, and is expected to maintain this position
throughout the forecast period.
Platform chemicals represent a group of twelve (one not commercialized
yet) building block chemicals that can be produced from sugars via
biological conversions. Factors responsible for the growth of the
bio-based platform chemicals market are volatility in crude oil prices,
availability of low cost feedstock and favourable government regulations
towards bio-based products.
Furthermore, rising adoption of bio-based chemicals in different
industries such as personal care, pharmaceuticals, food & beverages
including others are some of the key factors driving the market growth.
However, high production cost of bio-based chemicals is likely to hamper
the market growth.
C-3 chemicals (Glycerol and 3-hydroxypropionic acid) accounted for the
highest consumption in 2015, owing to its unique property of getting
converted into various other useful chemicals such as alcohols, acids
and resins. Furthermore, absence of a petrochemical route for the
production of (3-hydroxypropionic acid) 3-HP, drives the C-3 platform
chemicals market growth. 3-HP can be transformed into different
high-value chemicals such as 1,3-propanediol, acrylic acid, methyl
acrylate, acrylamide, malonic acid, ethyl 3-HP, propiolactone and
acrylonitrile.
These high value chemicals are used in a variety of applications such as
solvents, plastics & molding, fibers & resins, composites, adhesives,
laminates, floor polishes, paints & coatings, aliphatic polyesters &
copolyesters, wastewater treatment, gel electrophoresis, papermaking,
ore processing, vitamins and disinfectants used to sterilize vaccines,
tissue grafts, blood plasma, surgical instruments and enzymes.
C-5 chemicals forms second most dominating group in bio-based chemicals
market with glutamic acid as major contributor apart from levulinic
acid, itaconic acid and xylitol. Glutamic acid and its derivatives have
capability to replace traditional petroleum based polymers such as
polyesters and polyamide where as itaconic acid potential to produce
verity of the high value chemicals such as 3-methyl pyrrolidine,
3-methyl NMP, 4-methyl NMP, 2-methyl-1,4-BDO, 3-methyl THF, 3-methyl
GBL, 4-methyl GBL, 2-methyl-1,4-butanediamine, and itaconic diamide
making them fastest growing chemicals in C-5 chemicals group.
The prominent players profiled include-Succinity GmbH, Bio-Amber Inc.,
Myriant Corporation, Novozymes, Cargill Incorporated, DSM, Metabolix
Inc., GF Biochemicals, E.I. du Pont de Nemours and Company and Prinova
LLC.
Key findings of the study
- C-3 and C-5 platform chemicals, together, accounted for more than 89%
of total bio-based platform chemicals' consumption in 2015.
- LAMEA bio-based platform chemicals' consumption is projected grow at
the CAGR of 8.5% during analysis period.
- Asia-Pacific was the highest consumer of bio-based platform chemicals
across the globe in 2015.
- Bio-medical industry application segment of glycerol (C-3 platform
chemicals) is projected to grow at the CAGR of 25.2%.
- Out of total C-3 chemicals consumed, 3-hydroxypropionic acid accounted
for more than 60% share in 2015.
- Fumaric acid accounted the largest share of the total C-4 platform
chemicals.
- North America was the highest consumer of glutamic acid (C-5 platform
chemical) in 2015 and is expected to maintain its lead through 2020.
For more information visit http://www.researchandmarkets.com/research/q2l3qw/world_biobased
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