The global bio-based platform chemicals market size is expected to grow by USD 2.11 billion during 2020-2024, progressing at a CAGR of over 11% during the forecast period.
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Technavio has announced its latest market research report titled Global Bio-based Platform Chemicals Market 2020-2024 (Graphic: Business Wire)
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The volatility of crude oil prices is one of the major factors propelling the market growth. However, factors such as high production costs will hamper the market growth.
One of the primary factors driving the market growth is the high volatility of crude oil prices. The oil and gas industry is one of the major suppliers of raw materials to the platform chemicals market. Consequently, fluctuations in the crude oil prices affect the prices of the raw materials considerably, thereby affecting the costs of platform chemicals. In 2015, there was a significant drop in crude oil prices compared with the previous year. This has compelled vendors to seek alternative solutions to maintain their profit margins, thereby reducing the use of petroleum-derived feedstock chemicals. Also, the continuous supply of raw materials could be negatively affected by adverse weather conditions, national emergencies, natural disasters, supply shortages, and other events. Price fluctuations and non-availability of raw materials can affect the cost of the products and operations of the vendors. The above-mentioned factors are expected to play a crucial role in driving growth in the global bio-based platform chemicals market during the forecast period.
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Global Bio-based Platform Chemicals Market: Type Landscape
The growing demand from the transportation, lubricants, and textile industries for the production of intermediates, such as resins, pH-control agents, and crosslinkers, is expected to drive the demand for bio-based platform chemicals during the forecast period. Therefore, the bio-based platform chemicals market share growth by the bio-1 4 diacids segment will be significant during the forecast period.
Global Bio-based Platform Chemicals Market: Geographic Landscape
Factors such as the shift in consumer preference toward environment-friendly products and the growing concerns regarding sustainability and effects of petroleum-based synthetic chemicalswill significantly drive bio-based platform chemicals market growth in this region over the forecast period. 40% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for bio-based platform chemicals in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Companies Covered
- BASF SE
- Braskem SA
- DuPont Tate Lyle Bio Products Company LLC
- Evonik Industries AG
- IP Group Plc
- Koninklijke DSM NV
- LyondellBasell Industries NV
- Merck KGaA
- Parchem fine specialty chemicals Inc.
- PTT Global Chemical Public Co. Ltd.
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, till 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Bio-based Platform Chemicals Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist in bio-based platform chemicals market growth during the next five years
- Estimation of the bio-based platform chemicals market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the bio-based platform chemicals market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of bio-based platform chemicals market, vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 2024
Five Forces Analysis
- Five force summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Chemical Type
- Market segments
- Comparison by Chemical Type
- Bio-1 4 diacids Market size and forecast 2019-2024
- Bio-glycerol Market size and forecast 2019-2024
- Bio-glutamic acid Market size and forecast 2019-2024
- Bio-3-HPA Market size and forecast 2019-2024
- Bio-itaconic acid Market size and forecast 2019-2024
- Market opportunity by Chemical Type
Customer Landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC Market size and forecast 2019-2024
- Europe Market size and forecast 2019-2024
- North America Market size and forecast 2019-2024
- MEA Market size and forecast 2019-2024
- South America Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- BASF SE
- Braskem SA
- DuPont Tate Lyle Bio Products Company LLC
- Evonik Industries AG
- IP Group Plc
- Koninklijke DSM NV
- LyondellBasell Industries NV
- Merck KGaA
- Parchem fine specialty chemicals Inc.
- PTT Global Chemical Public Co. Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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