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Bio-based Chemicals Market Business Opportunities, Top Manufacture, Growth, Research Report, Regional Analysis and Global Forecast to 2028
The global Bio-based chemicals indusrtry size amounted to USD 73.16 billion in 2020. The market is predicted to grow from USD 77.10 billion in 2021 to USD 144.63 billion in 2028 at a CAGR of 9.4% during the forecast period. The increasing consumption of Bio-based solutions to ensure environmental sustainability will propel the market forward during the projected timeframe, states Fortune Business Insights in its report titled “Bio-based Chemicals Market, 2021-2028."

Bio-based chemicals are derived from Bio-based sources such as sugar, corn, biodegradable waste, cellulosic feedstock, or biomass. The demand for these chemicals is rising across several industries including food & beverage, pharmaceutical, automotive, textiles, and others. This rise in demand is due to depleting petroleum resources and growing unavailability of conventional fossil fuel based products. The growing need for sustainable solutions across industries will foster the market growth in the forthcoming years.

COVID-19 Impact:

Supply Chain Hurdles amid Pandemic to Affect Market Dynamics

The sudden outbreak and rapid spread of the COVID-19 pandemic led to various disruptions, including supply chain problems. Strict containment measures introduced by the respective governments constrained the movement of raw materials and affected industrial operations. Nationwide lockdown restrictions led to the stockpiling of long-lasting foods and basic staples such as wheat, rice, sugar, and other products. The rising agricultural consumption resulted in the shortage of raw materials required for chemicals production. These factors caused a slowdown in Bio-based chemicals market growth during the pandemic period.

Market Segments:

Based on product category, the market is segmented into adhesives, platform chemicals, paints, coatings, inks & dyes, polymers for plastics, surfactants, adhesives, cosmetics & personal care products, man made fibers, and others.

In terms of application, the market is divided into agricultural, industrial, pharmaceutical, and others.

Geographically, the market broken down into North America, Asia Pacific, Europe, and the Rest of the World.

Drivers & Restraints:

Depleting Fossil Fuel Resources to Provide Momentum to Market

Bio-based chemicals market growth is driven by the depletion of fossil fuel resources and rising greenhouse gas emissions. These factors have led to increased adoption of biomaterials. Ongoing initiatives to limit harmful emissions is supporting the adoption of Bio-based products across industries. The growing concept of green
December 2020: DuPont Nutrition & Biosciences and Kemira formed a strategic alliance for the formulation and commercialziation of the enzymatic polymerization-based polysaccharide platform technology by DuPont for various applications.

Browse Summary:

https://www.fortunebusinessins....ights.com/bio-based-

Bio-based Chemicals Market Business Opportunities, Top Manufacture, Growth, Research Report, Regional Analysis and Global Forecast to 2028
The global Bio-based chemicals indusrtry size amounted to USD 73.16 billion in 2020. The market is predicted to grow from USD 77.10 billion in 2021 to USD 144.63 billion in 2028 at a CAGR of 9.4% during the forecast period. The increasing consumption of Bio-based solutions to ensure environmental sustainability will propel the market forward during the projected timeframe, states Fortune Business Insights in its report titled “Bio-based Chemicals Market, 2021-2028."

Bio-based chemicals are derived from Bio-based sources such as sugar, corn, biodegradable waste, cellulosic feedstock, or biomass. The demand for these chemicals is rising across several industries including food & beverage, pharmaceutical, automotive, textiles, and others. This rise in demand is due to depleting petroleum resources and growing unavailability of conventional fossil fuel based products. The growing need for sustainable solutions across industries will foster the market growth in the forthcoming years.

COVID-19 Impact:

Supply Chain Hurdles amid Pandemic to Affect Market Dynamics

The sudden outbreak and rapid spread of the COVID-19 pandemic led to various disruptions, including supply chain problems. Strict containment measures introduced by the respective governments constrained the movement of raw materials and affected industrial operations. Nationwide lockdown restrictions led to the stockpiling of long-lasting foods and basic staples such as wheat, rice, sugar, and other products. The rising agricultural consumption resulted in the shortage of raw materials required for chemicals production. These factors caused a slowdown in Bio-based chemicals market growth during the pandemic period.

Market Segments:

Based on product category, the market is segmented into adhesives, platform chemicals, paints, coatings, inks & dyes, polymers for plastics, surfactants, adhesives, cosmetics & personal care products, man made fibers, and others.

In terms of application, the market is divided into agricultural, industrial, pharmaceutical, and others.

Geographically, the market broken down into North America, Asia Pacific, Europe, and the Rest of the World.

Drivers & Restraints:

Depleting Fossil Fuel Resources to Provide Momentum to Market

Bio-based chemicals market growth is driven by the depletion of fossil fuel resources and rising greenhouse gas emissions. These factors have led to increased adoption of biomaterials. Ongoing initiatives to limit harmful emissions is supporting the adoption of Bio-based products across industries. The growing concept of green chemistry will further boost this adoption rate. Supportive government initiatives to limit the usage of harmful chemicals will work in favor of the market growth.

However, the market development could be hampered by the high cost of the product.

Regional Insights:

Europe registered revenue gains worth USD 35.59 billion in 2020 and will dominate the Bio-based chemicals market share over the assessment period. Leading position of the region can be contributed to the growing initiatives by the European Union to promote green and circular economy. Active steps to increase reliance on biomaterials will strengthen the regional outlook.

The market in Asia Pacific will witness robust growth led by the widespread shift towards Bio-based solutions and tightening environmental regulations. Meanwhile, North America will experience substantial growth led by growing R&D in the field of biomaterials.

Notable Industry Development:

December 2020: DuPont Nutrition & Biosciences and Kemira formed a strategic alliance for the formulation and commercialziation of the enzymatic polymerization-based polysaccharide platform technology by DuPont for various applications.

Browse Summary:

https://www.fortunebusinessins....ights.com/bio-based-

The global wax market size is set to gain impetus from their increasing usage in a wide range of applications, such as plastic & rubber additives, candle manufacturing, cosmetics, adhesives, polishes, and coatings. Wax also provides protection to packaged goods from moisture. The report further mentions that the wax market was valued at USD 7,288.9 million in 2019 and is expected to reach USD 9,249.2 million by 2027, thereby exhibiting a CAGR of 3.1% during the forecast period.
Information source:
https://www.fortunebusinessins....ights.com/wax-market

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The global drone software market share is expected to experience an exponential growth by reaching USD 5,961.6 million by 2027 while exhibiting an astounding CAGR of 25.05% between 2020 and 2027.

Browse Complete Report Summary:

https://www.fortunebusinessins....ights.com/drone-soft

The global drone software market share is expected to experience an exponential growth by reaching USD 5,961.6 million by 2027 while exhibiting an astounding CAGR of 25.05% between 2020 and 2027.

Browse Complete Report Summary:

https://www.fortunebusinessins....ights.com/drone-soft

The global nanocoatings market size is expected to showcase considerable growth by reaching USD 39,869.2 million by 2028 while exhibiting a CAGR of 22.7% between 2021 and 2028. The report further mentions that the market stood at USD 7,825.3 million in 2020 and is projected to experience considerable growth during the forecast period.
Information Source:
https://www.fortunebusinessins....ights.com/nanocoatin

The global nanocoatings market size is expected to showcase considerable growth by reaching USD 39,869.2 million by 2028 while exhibiting a CAGR of 22.7% between 2021 and 2028. The report further mentions that the market stood at USD 7,825.3 million in 2020 and is projected to experience considerable growth during the forecast period. The increasing focus on reducing environmental impact and the growing demand from the automotive sector is expected to propel the demand for these coatings across the globe.
Information Source:
https://www.fortunebusinessins....ights.com/nanocoatin

The global nanocoatings market size is expected to showcase considerable growth by reaching USD 39,869.2 million by 2028 while exhibiting a CAGR of 22.7% between 2021 and 2028. The report further mentions that the market stood at USD 7,825.3 million in 2020 and is projected to experience considerable growth during the forecast period. The increasing focus on reducing environmental impact and the growing demand from the automotive sector is expected to propel the demand for these coatings across the globe.
Information Source:
https://www.fortunebusinessins....ights.com/nanocoatin

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