Technavio Publishes Global Bio-Based Platform Chemicals Market 2015-2019 Report

March 30, 2015 | By Business Wire News

LONDON

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 boost market projections.

“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, advances in technology have led researchers to produce bio-based platform chemicals using cellulosic biomass, which is made up of complex sugar molecules from renewable 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:
- BASF
- BioAmber
- Braskem
- DSM
- Myriant
Market Growth Drivers:
- Support and Funding from Government
- For a full detailed list, view our report.
Market Challenges:
- Scarcity of Raw Materials
- For a full detailed list, view our report.
Market Trends:
- Growth in Emerging Economies
- For a full detailed list, view our report.