Global Bio-based Chemicals Market Size Worth $165.41 Billion By 2032 | CAGR: 10.4%

Global Bio-based Chemicals Market Size Worth $165.41 Billion By 2032 | CAGR: 10.4%

The global bio-based chemicals market size is expected to reach USD 165.41 billion by 2032, according to a new study by Polaris Market Research. The report “Bio-based Chemicals Market Share, Size, Trends, Industry Analysis Report, By Type (Bio-Lubricants, Bio-Solvents, Bioplastics, Bio-Alcohols, Bio-Surfactants, Bio-Based Acids); By End-Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Global bio-based chemicals in the industrial sector can lead to positive outcomes in terms of reducing environmental impact, contributing to the circular economy, creating economic opportunities, and mitigating climate change. Bio-based chemicals offer a sustainable alternative to conventional chemicals derived from fossil fuels, with potential for improved environmental, economic, and social outcomes. As industries worldwide seek to improve their sustainability performance, bio-based chemicals are increasingly being recognized as a viable solution to address environmental challenges and drive the transition towards a more sustainable and circular industrial economy.

Bio-based chemicals have emerged as a promising solution for the industrial sector to meet sustainability goals and reduce environmental impact. These chemicals, also known as renewable chemicals, are derived from biological sources such as plants, animals, and microorganisms, and offer a viable alternative to conventional chemicals derived from fossil fuels. The adoption of bio-based chemicals in the industrial sector has gained momentum due to their potential to improve the sustainability of industrial processes, reduce greenhouse gas emissions, and contribute to the circular economy.

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One of the main outcomes of the increasing adoption of bio-based chemicals in the industrial sector is the reduction of environmental impact. Conventional chemicals derived from fossil fuels are associated with negative environmental effects, such as carbon emissions, air and water pollution, and depletion of finite resources. Bio-based chemicals, on the other hand, are derived from renewable sources and have a lower carbon footprint, as they can sequester carbon during their production process. This makes them a more sustainable choice for industrial applications, helping to mitigate the impact of industrial processes on the environment.

Global Bio-based Chemicals Market Report Highlights 

  • The vital driver for the quick development of the Bio-Oils fragment is the rising mindfulness about the natural effect of traditional ointments. Conventional lubricants often come from fossil fuels and have toxic additives that can be bad for people's health and the environment. Bio-lubricants, on the other hand, are made from renewable resources like animal fats, vegetable oils, and other bio-based feedstocks.
  • The rising demand for environmentally friendly materials for automobile manufacturing is the primary factor that accounts for the substantial market share held by bio-based chemicals in the automotive sector.
  • Bioplastics, biocomposites, and bioforms are alternative materials for automotive parts, interior components, and packaging that are produced using bio-based chemicals.
  • The interest in bio-based synthetic compounds in Europe is expected to encounter huge development before long. Europe has been at the forefront of environmental and sustainability initiatives, placing an increasing emphasis on promoting circular economy practices, lowering greenhouse gas emissions, and using bio-based alternatives to conventional chemicals.
  • The global players include BASF SE, BioAmber Inc, Braskem SA, Cargill Incorporated, Danimer Scientific Inc., DuPont de Nemours, Evonik Industries, Koninklijke DSM N.V., Methanex Corporation, Mitsubishi Chemical Corporation, Mitsui & Co. Ltd, Natureworks LLC, PTT Global Chemical Co. Ltd., Teijin Ltd., and Vertec BioSolvents.

Polaris Market Research has segmented the Global Bio-based Chemicals Market report based on Type, End Use, and region:

Global Bio-based Chemicals Market, Type Outlook (Revenue, USD Billion, 2019-2032)

  • Bio-Lubricants
  • Bio-Solvents
  • Bioplastics
  • Bio-Alcohols
  • Bio-Surfactants
  • Bio-Based Acids
  • Others

Global Bio-based Chemicals Market, End Use Outlook (Revenue, USD Billion, 2019-2032)

  • Automotive
  • Personal Care
  • Food & Beverages
  • Agriculture
  • ·Industrial
  • Pharmaceuticals
  • Packaging
  • Others

Global Bio-based Chemicals Market, Regional Outlook (Revenue - USD Billion, 2019-2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa