Industry News

Global Biobased Chemicals Market to Grow at a CAGR of 13.82% from 2015-19: Technavio

Published on 2015-03-31. Author : SpecialChem

London, UK – Technavio has published a new report on the Global Bio-based Platform Chemicals Market, which is expected to grow at a CAGR of 13.82 percent from 2015-2019.

About the Report
According to the latest report by Technavio, the push towards sustainability and a greener environment have forced the governments of many countries to shift to the production of bio-based platform chemicals.

“The European Union and industry leaders have launched a new European Joint Undertaking on Bio-based Industries, which will contribute hugely to the European market for the production of bio-based products,” says Faisal Ghaus, Vice President of Technavio.

The latest report by Technavio also emphasizes economic growth in emerging areas like South America and Africa, which is expected to help the market grow.

“Growing awareness and environmental sustainability in emerging economies will also result in new applications for itaconic acid, another product in the market. These new applications will inevitably spur growth in the overall market,” says Ghaus.

Furthermore, the advances in technology have led researchers to produce bio-based platform chemicals using cellulosic biomass, which is made up of complex sugar molecules using biomass like corn stover and switchgrass.

Market Scope and Calculation of Market Size

This report covers the present scenario and the growth prospects of the Global Bio-based Platform Chemicals Market from 2015-2019. To calculate the market size, analysts have considered the revenue generated through bio-based platform chemical products.

Key Information Covered in the Report:

Key Vendors:
• BioAmber
• Braskem
• Myriant

Market Growth Drivers:
• Support and Funding from Government Market Challenges:
• Scarcity of Raw Materials Market Trends:
• Growth in Emerging Economies

About Technavio

Technavio currently has more than 3000 market research reports on a huge range of topics, including 300+ reports on the chemicals market: Technavio was founded in 2003 in London. The company has about 200 analysts globally. It covers more than 500 technologies across 80 countries. The company’s analysts are closely monitoring the market every day by talking to all the industry participants. Technavio has proprietary databases that provide us with a complete perspective of the market. Technavio develops over 2000 pieces of research deliverables every year.

Source: Technavio

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