Bio-Based Chemicals Market Segmentation by Application (Automotive, Agriculture, Industrial, Pharmaceutical, Packaging, Food & Beverages, and Others); and by Product Type (Bio-Solvent, Acids, Plastics, Lubricants, and Others)-Global Demand Analysis & Opportunity Outlook 2031

Global Bio-Based Chemicals Market Highlights Over 2022 - 2031

The global bio-based chemicals market is estimated to grow at a ~10% CAGR over the forecast period, i.e., 2022 – 2031. Moreover, the market registered a revenue of approximately USD 77.0 billion in 2021. The growth of the market can be attributed to the rise in the pollution level in the environment and the rising awareness amongst individuals to treat such pollution. For instance, nearly 75 percent of the Earth’s land area has been degraded. In addition, the government has imposed regulations in order to protect the environment from being degraded, which is anticipated to drive the growth of the global bio-based chemicals market. Moreover, there has been an increase in the disposable income of the population that is expected to rise their spending on cosmetics, fertilizers, and chemical products, where bio-based chemicals are used widely.

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The global bio-based chemicals market is segmented by application into automotive, agriculture, industrial, pharmaceutical, packaging, food & beverages, and others. Out of which, the food & beverages segment is anticipated to hold the largest share over the forecast period in the global bio-based chemicals market. This can be attributed to the use of various bio-based chemical product types in the manufacturing of food & beverages industries, such as bioplastics for packaging, and bio-alcohols for beverage additions.

Global Bio-Based Chemicals Market Regional Synopsis

Regionally, the global bio-based chemicals market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness modest growth over the forecast period on the back of a rise in land pollution and an increase in government regulations for the protection of the environment. As per the Press Information Bureau Government of India, the Indian government has suppressed the Plastic Waste Rules, 2011 for Plastic Waste Management Rules, 2016. Moreover, there is growing awareness in the agriculture sector of to use of bio-based chemicals for fertilization, which is anticipated to increase the growth of the global bio-based chemicals market.

Market Segmentation

Our in-depth analysis of the global bio-based chemicals market includes the following segments:

By Application

• Automotive

• Agriculture

• Industrial

• Pharmaceutical

• Packaging

• Food & Beverages

• Others

By Product Type

• Bio-Solvent

• Acids

• Plastics

• Lubricants

• Others

Growth Drivers and Challenges Impacting the Growth of the Global Bio-Based Chemicals Market

Growth Drivers

• Rise in the pollutions level in the environment

• Increase in the disposable income of the population

Challenges

• High cost of bio-based chemicals

• Limited use of bio-based chemicals by end-users for industrial applications

Key Companies Dominating the Global Bio-Based Chemical Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global bio-based chemicals market that are included in our report are TORAY INDUSTRIES, INC., Evonik Industries AG, BASF SE, DuPont, GFBiochemicals Ltd., Mitsubishi Chemical Corporation, IP Group plc, LyondellBasell Industries N.V., Vertec BioSolvents Inc., Braskem, and others.

Latest Developments in the Global Bio-Based Chemicals Market:

• 31 March 2022: BASF SE and Henkel have agreed to replace fossil carbon feedstock with renewable feedstock for most products in Henkel's European Laundry & Home Care and Beauty Care businesses over the next four years.

• 7 June 2022: Evonik Industries AG launched a new peptide to increase the productivity of cell-culture-based biopharmaceuticals. cQrex is  a new addition to the cQrex portfolio that supply sufficient of key amino acids to cells.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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