With Market Size Valued at 20.1 Million Tons by 2026, it's a Healthy Outlook for the Global Bio-based Platform Chemicals Market
SAN FRANCISCO, Sept. 1, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Bio-based Platform Chemicals - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: April 2021
Executive Pool: 739
Companies: 43 - Players covered include BioAmber, Inc.; Cargill, Inc.; DowDuPont, Inc.; GFBiochemicals Europe (The Netherlands; Koninklijke DSM NV; Myriant Corporation; Novozymes A/S; Prinova Group LLC.; Succinity GmbH; Yield10 Bioscience, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Type (C-3 (Glycerol, and 3-Hydroxypropionic Acid), C-4 (Succinic Acid, Fumaric Acid, Malic Acid, and Aspartic Acid), C-5 (Levulinic Acid, Glutamic Acid, Itaconic Acid, and Xylitol), C-6 (Sorbitol, Glucaric Acid, and 2, 5-Furan Dicarboxylic Acid)))
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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ABSTRACT-
Global Bio-based Platform Chemicals Market to Reach 20.1 Million Tons by 2026
Amid the COVID-19 crisis, the global market for Bio-based Platform Chemicals estimated at 13.3 Million Tons in the year 2020, is projected to reach a revised size of 20.1 Million Tons by 2026, growing at a CAGR of 6.9% over the analysis period. C-3 (Glycerol, and 3-Hydroxypropionic Acid), one of the segments analyzed in the report, is projected to record a 6.7% CAGR and reach 10.8 Million Tons by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the C-4 (Succinic Acid, Fumaric Acid, Malic Acid, and Aspartic Acid) segment is readjusted to a revised 7.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at 4.3 Million Tons in 2021, While China is Forecast to Reach 3.5 Million Tons by 2026
The Bio-based Platform Chemicals market in the U.S. is estimated at 4.3 Million Tons in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of 3.5 Million Tons by the year 2026 trailing a CAGR of 6.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.4% and 5.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR.
C-5 (Levulinic Acid, Glutamic Acid, Itaconic Acid, and Xylitol) Segment to Reach 1.6 Million Tons by the year 2026
In the global C-5 (Levulinic Acid, Glutamic Acid, Itaconic Acid, and Xylitol) segment, USA, Canada, Japan, China and Europe will drive the 7.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of 820.5 Thousand Tons in the year 2020 will reach a projected size of 1.4 Million Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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