The global Bio-based Platform Chemicals Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Product (Bio Glycerol, Bio Glutamic Acid, Bio Itaconic Acid, Bio-3-Hydroxypropionic Acid, Bio Succinic Acid, Others).
The market for bio-based platform chemicals is witnessing robust growth in 2024, driven by the increasing focus on sustainability, circular economy principles, and the shift towards bio-based alternatives to traditional petrochemicals. Bio-based platform chemicals are intermediate compounds derived from renewable biomass feedstocks such as sugars, starches, cellulose, or lignocellulose through fermentation, enzymatic conversion, or chemical processes. They serve as building blocks for the synthesis of a wide range of downstream products including polymers, plastics, fuels, solvents, and specialty chemicals. In the chemical industry, bio-based platform chemicals such as bioethanol, biobutanol, succinic acid, and 3-hydroxypropionic acid (3-HPA) are used as starting materials for the production of biodegradable polymers, bio-based plastics, and green chemicals, reducing dependency on fossil fuels and mitigating environmental impact. Further, in the agricultural and food sectors, bio-based platform chemicals such as lactic acid and glycerol are utilized for the production of biodegradable packaging materials, food additives, and nutritional supplements, offering sustainable alternatives to petroleum-derived counterparts. Additionally, advancements in biorefinery technology, feedstock diversification, and process optimization are driving the development of cost-effective and efficient routes for bio-based platform chemical production. As industries embrace circular economy principles and seek to reduce carbon emissions, the demand for high-quality bio-based platform chemicals is expected to growing, stimulating market expansion and fostering innovation in biotechnology, chemical engineering, and sustainable development.
The market report analyses the leading companies in the industry including Aktin Chemicals Inc, BASF SE, Braskem SA, Cargill Inc, DuPont de Nemours Inc, Evonik Industries AG, GFBiochemicals Ltd, LyondellBasell Industries Holdings B.V., Nippon Shokubai Co. Ltd, Novozymes, PTT Global Chemical Public Company Ltd, Royal DSM N.V., Tokyo Chemical Industry Co. Ltd, Valtris Specialty Chemicals, and others.
A prominent trend in the bio-based platform chemicals market is the growing focus on sustainability and renewable resources. Bio-based platform chemicals, derived from biomass feedstocks such as sugars, starches, and lignocellulosic materials, offer environmentally friendly alternatives to traditional petrochemical-derived chemicals. With increasing concerns about climate change, resource depletion, and pollution, there is a global shift towards sustainable and circular economy principles. Industries such as chemicals, plastics, fuels, and pharmaceuticals are seeking bio-based alternatives to reduce their carbon footprint, minimize reliance on fossil fuels, and meet regulatory requirements. The trend towards sustainability is driving investment in bio-based platform chemical production technologies, research, and development, as well as partnerships between industry stakeholders and governments to promote the adoption of renewable resources and biobased products.
The driver for the bio-based platform chemicals market is government support and policy incentives aimed at promoting renewable resources and reducing greenhouse gas emissions. Governments worldwide are implementing regulations, mandates, and subsidies to incentivize the production and use of bio-based chemicals as part of their climate change mitigation strategies and sustainable development goals. These policies include renewable energy targets, carbon pricing mechanisms, bioeconomy strategies, and biobased product procurement initiatives. Additionally, tax credits, grants, and loan programs are provided to support research, innovation, and commercialization of bio-based platform chemicals and related technologies. The supportive policy environment creates market opportunities for bio-based platform chemical producers, encourages investment in biorefineries and biotechnology, and stimulates market growth by increasing market competitiveness and driving demand for renewable and sustainable chemical solutions.
A potential opportunity for the bio-based platform chemicals market lies in the expansion into novel applications and value-added products. While bio-based platform chemicals such as ethanol, lactic acid, succinic acid, and glycerol have established markets in certain sectors, there are opportunities to explore new applications and develop higher-value derivatives and specialty chemicals. Bio-based platform chemicals can be used as intermediates for the production of polymers, plastics, resins, coatings, adhesives, solvents, and specialty chemicals with unique properties and functionalities. By investing in research and development, process optimization, and collaboration with downstream industries, bio-based platform chemical producers can identify emerging market trends, address unmet needs, and develop innovative products tailored to specific applications and customer requirements. Moreover, the development of bio-based platform chemicals as building blocks for sustainable materials and products can create opportunities for differentiation, premium pricing, and market growth in the rapidly evolving bioeconomy landscape.
The largest segment in the Bio-based Platform Chemicals Market by product is Bio Succinic Acid. The large revenue share is primarily due to the versatile applications and sustainable properties of bio-based succinic acid. Bio succinic acid is a key building block chemical used in the production of various high-value chemicals and materials, including bioplastics, polyurethanes, resins, coatings, and pharmaceuticals. Its eco-friendly nature, derived from renewable biomass sources such as sugars and starches, makes it an attractive alternative to petroleum-based succinic acid. Moreover, growing environmental concerns and stringent regulations regarding carbon emissions drive the demand for sustainable chemicals like bio succinic acid. Industries are increasingly adopting bio-based succinic acid as a drop-in replacement for its petroleum-derived counterpart, thereby reducing their carbon footprint and reliance on fossil fuels. As the bioeconomy continues to expand and the demand for sustainable chemicals rises, bio succinic acid maintains its position as the largest segment in the bio-based platform chemicals market.
By Product
Bio Glycerol
Bio Glutamic Acid
Bio Itaconic Acid
Bio-3-Hydroxypropionic Acid
Bio Succinic Acid
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Aktin Chemicals Inc
BASF SE
Braskem SA
Cargill Inc
DuPont de Nemours Inc
Evonik Industries AG
GFBiochemicals Ltd
LyondellBasell Industries Holdings B.V.
Nippon Shokubai Co. Ltd
Novozymes
PTT Global Chemical Public Company Ltd
Royal DSM N.V.
Tokyo Chemical Industry Co. Ltd
Valtris Specialty Chemicals
*- List Not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Bio Based Platform Chemicals Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Bio Based Platform Chemicals Market Size Outlook, $ Million, 2021 to 2032
3.2 Bio Based Platform Chemicals Market Outlook by Type, $ Million, 2021 to 2032
3.3 Bio Based Platform Chemicals Market Outlook by Product, $ Million, 2021 to 2032
3.4 Bio Based Platform Chemicals Market Outlook by Application, $ Million, 2021 to 2032
3.5 Bio Based Platform Chemicals Market Outlook by Key Countries, $ Million, 2021 to 2032
4 Market Dynamics
4.1 Key Driving Forces of Bio Based Platform Chemicals Industry
4.2 Key Market Trends in Bio Based Platform Chemicals Industry
4.3 Potential Opportunities in Bio Based Platform Chemicals Industry
4.4 Key Challenges in Bio Based Platform Chemicals Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Bio Based Platform Chemicals Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Bio Based Platform Chemicals Market Outlook by Segments
7.1 Bio Based Platform Chemicals Market Outlook by Segments, $ Million, 2021- 2032
By Product
Bio Glycerol
Bio Glutamic Acid
Bio Itaconic Acid
Bio-3-Hydroxypropionic Acid
Bio Succinic Acid
Others
8 North America Bio Based Platform Chemicals Market Analysis and Outlook To 2032
8.1 Introduction to North America Bio Based Platform Chemicals Markets in 2024
8.2 North America Bio Based Platform Chemicals Market Size Outlook by Country, 2021-2032
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Bio Based Platform Chemicals Market size Outlook by Segments, 2021-2032
By Product
Bio Glycerol
Bio Glutamic Acid
Bio Itaconic Acid
Bio-3-Hydroxypropionic Acid
Bio Succinic Acid
Others
9 Europe Bio Based Platform Chemicals Market Analysis and Outlook To 2032
9.1 Introduction to Europe Bio Based Platform Chemicals Markets in 2024
9.2 Europe Bio Based Platform Chemicals Market Size Outlook by Country, 2021-2032
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Bio Based Platform Chemicals Market Size Outlook by Segments, 2021-2032
By Product
Bio Glycerol
Bio Glutamic Acid
Bio Itaconic Acid
Bio-3-Hydroxypropionic Acid
Bio Succinic Acid
Others
10 Asia Pacific Bio Based Platform Chemicals Market Analysis and Outlook To 2032
10.1 Introduction to Asia Pacific Bio Based Platform Chemicals Markets in 2024
10.2 Asia Pacific Bio Based Platform Chemicals Market Size Outlook by Country, 2021-2032
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Bio Based Platform Chemicals Market size Outlook by Segments, 2021-2032
By Product
Bio Glycerol
Bio Glutamic Acid
Bio Itaconic Acid
Bio-3-Hydroxypropionic Acid
Bio Succinic Acid
Others
11 South America Bio Based Platform Chemicals Market Analysis and Outlook To 2032
11.1 Introduction to South America Bio Based Platform Chemicals Markets in 2024
11.2 South America Bio Based Platform Chemicals Market Size Outlook by Country, 2021-2032
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Bio Based Platform Chemicals Market size Outlook by Segments, 2021-2032
By Product
Bio Glycerol
Bio Glutamic Acid
Bio Itaconic Acid
Bio-3-Hydroxypropionic Acid
Bio Succinic Acid
Others
12 Middle East and Africa Bio Based Platform Chemicals Market Analysis and Outlook To 2032
12.1 Introduction to Middle East and Africa Bio Based Platform Chemicals Markets in 2024
12.2 Middle East and Africa Bio Based Platform Chemicals Market Size Outlook by Country, 2021-2032
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Bio Based Platform Chemicals Market size Outlook by Segments, 2021-2032
By Product
Bio Glycerol
Bio Glutamic Acid
Bio Itaconic Acid
Bio-3-Hydroxypropionic Acid
Bio Succinic Acid
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
Aktin Chemicals Inc
BASF SE
Braskem SA
Cargill Inc
DuPont de Nemours Inc
Evonik Industries AG
GFBiochemicals Ltd
LyondellBasell Industries Holdings B.V.
Nippon Shokubai Co. Ltd
Novozymes
PTT Global Chemical Public Company Ltd
Royal DSM N.V.
Tokyo Chemical Industry Co. Ltd
Valtris Specialty Chemicals
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Product
Bio Glycerol
Bio Glutamic Acid
Bio Itaconic Acid
Bio-3-Hydroxypropionic Acid
Bio Succinic Acid
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Global Bio-based Platform Chemicals Market Size is valued at $18.9 Billion in 2024 and is forecast to register a growth rate (CAGR) of 7.5% to reach $33.7 Billion by 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Aktin Chemicals Inc, BASF SE, Braskem SA, Cargill Inc, DuPont de Nemours Inc, Evonik Industries AG, GFBiochemicals Ltd, LyondellBasell Industries Holdings B.V., Nippon Shokubai Co. Ltd, Novozymes, PTT Global Chemical Public Company Ltd, Royal DSM N.V., Tokyo Chemical Industry Co. Ltd, Valtris Specialty Chemicals
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2032; Currency: Revenue (USD); Volume