Report ID: UCMIG15A2178
Report ID:
UCMIG15A2178 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
In 2017, the global bio-based platform chemicals market achieved a valuation of USD 8.81 billion, indicating significant growth within the industry. Bio-based platform chemicals are derived from renewable resources such as biomass, agricultural waste, and bio-based feedstocks, offering a sustainable and environmentally friendly alternative to traditional petrochemicals. This market growth can be attributed to factors such as increasing environmental concerns, government regulations promoting the use of bio-based products, and the growing demand for greener alternatives across various industries. Additionally, advancements in biotechnology and fermentation processes have enabled the production of bio-based platform chemicals at a commercial scale, further driving market expansion. The adoption of bio-based platform chemicals in various applications, such as the production of biofuels, bioplastics, and biochemicals, has also contributed to the market's growth. As sustainability becomes a key focus for industries worldwide, the global bio-based platform chemicals market is anticipated to witness sustained growth in the coming years.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Commodity Chemicals by segment aggregation, the contribution of the Commodity Chemicals in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG15A2178