Bio-Based Platform Chemicals Market to Grow Nearly 14% by 2019

The global market for bio-based platform chemicals is expected to grow at a CAGR of 13.82 percent from 2015-2019, according to a TechNavio report.

The report says key vendors include BASF, BioAmber, Braskem, DSM, DuPont, Ineos, Myriant and Novozymes.

Global Bio-Based Platform Chemicals Market says the push towards environmental sustainability has forced many countries to shift to the production of bio-based platform chemicals.

Also, 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.

Last month BASF made bio-based Polytetrahydrofuran 1000 available for the first time and BioAmber initiated commissioning activities for its 30,000 metric ton-capacity bio-succinic acid plant — the world’s largest — located in Sarnia, Ontario, Canada.