BIO-BASED CHEMICALS MARKET ANALYSIS

Bio-Based Chemicals MarketSize and Trends

The global bio-based chemicals market size is expected to witness potential gains in the future, and register a significant CAGR of 15.74% over the forecast period (2019 - 2027).

Market Overview

Bio-based chemicals are products derived from plants and other renewable agricultural, marine, and forestry materials. Some of the examples of bio-based chemicals include, non-food starch, cellulose fibers and cellulose derivatives, tall oils, fatty acids, and fermentation products such as ethanol and citric acid. Methane, methanol, carbon monoxide, and formic acid are some commercially produced and used bio-based chemicals. Anaerobic digestion or fermentation of biodegradable materials, syngas, and biofine processes are some of the methods used to produce bio-based chemicals. Bio-based chemicals are used in various applications such as production of biogas and synthesis gas. Bio-based chemicals are also used in the agriculture sector in the form of bio-pesticides and bio-fertilizers.