According to a market report by Lucintel, the future of the global bio-based chemical market looks promising with opportunities in the food & beverage, agriculture, automotive, personal care, packaging, detergent & cleaner, paint & coating, adhesives & sealant, pharmaceutical, and paint dispersion markets. The global bio-based chemical market is expected to reach an estimated $137.2 billion by 2030 from $87.4 billion in 2023, at a CAGR of 7.8% from 2024 to 2030. The major drivers for this market are growing consumer demand for eco-friendly products, stringent environmental regulations, and dependence on fossil fuels and environmental concerns.
A more than 150-page report to understand trends, opportunity and forecast in bio-based chemical market to 2030 by product (bio-lubricants, bio-solvents, bio-alcohols, bio-based acids, and others), application (food & beverages, agriculture, automotive, personal care, packaging, detergents & cleaner, paints & coating, adhesives & sealants, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that bio-alcohol will remain the largest segment over the forecast period due to growing demand from major end-use sectors such as food and beverage, pharmaceutical, cosmetics, and personal care.
Within this market, paint & coating will remain the largest segment due to growing demand for environmentally friendly and sustainable substitutes for conventional petroleum-based chemicals.
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APAC is expected to witness highest growth over the forecast period due to growing agricultural sector and increasing awareness towards sustainability & environmental concerns in the region.
Integra BASF, Cargill, DSM, Champlor, Mitsubishi Chemical, Braskem, Vertec BioSolvents, Genomatica, DowDuPont, Toray Industries are the major suppliers in the bio-based chemical market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected] To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
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