Asia-Pacific held a dominant share in the global bio-based platform chemicals market in 2015, and is expected to maintain this position throughout the forecast period.Platform chemicals represent a group of twelve (one not commercialized yet) building block chemicals that can be produced from sugars via biological conversions.
Furthermore, rising adoption of bio-based chemicals in different industries such as personal care, pharmaceuticals, food & beverages including others are some of the key factors driving the market growth.
However, high production cost of bio-based chemicals is likely to hamper the market growth.Do Enquiry for Sample Report @ https://www.alliedmarketresearch.com/request-sample/1086C-3 chemicals (Glycerol and 3-hydroxypropionic acid) accounted for the highest consumption in 2015, owing to its unique property of getting converted into various other useful chemicals such as alcohols, acids and resins.
3-HP can be transformed into different high-value chemicals such as 1,3-propanediol, acrylic acid, methyl acrylate, acrylamide, malonic acid, ethyl 3-HP, propiolactone and acrylonitrile.
These high value chemicals are used in a variety of applications such as solvents, plastics & molding, fibers & resins, composites, adhesives, laminates, floor polishes, paints & coatings, aliphatic polyesters & copolyesters, wastewater treatment, gel electrophoresis, papermaking, ore processing, vitamins and disinfectants used to sterilize vaccines, tissue grafts, blood plasma, surgical instruments and enzymes.C-5 chemicals forms second most dominating group in bio-based chemicals market with glutamic acid as major contributor apart from levulinic acid, itaconic acid and xylitol.
I. du Pont de Nemours and CompanyPrinova LLC.Key Findings of Bio-Based Platform Chemicals MarketC-3 and C-5 platform chemicals, together, accounted for more than 89% of total bio-based platform chemicals consumption in 2015.LAMEA bio-based platform chemicals consumption is projected grow at the CAGR of 8.5% during analysis period.Asia-Pacific was the highest consumer of bio-based platform chemicals across the globe in 2015.Bio-medical industry application segment of glycerol (C-3 platform chemicals) is projected to grow at the CAGR of 25.2%.Out of total C-3 chemicals consumed, 3-hydroxypropionic acid accounted for more than 60% share in 2015.Fumaric acid accounted the largest share of the total C-4 platform chemicals.North America was the highest consumer of glutamic acid (C-5 platform chemical) in 2015 and is expected to maintain its lead through 2020.Similar Reports:Furfural MarketReinforcement Materials MarketMedical Polymers MarketFungicides MarketAbout Us:Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises.