Bio-Based Platform Chemicals Market research is provided on all the vital factors such as consumer needs and trends those will create significant impact on the present and future market situations. Bio-Based Platform Chemicals Market report will help buyer to minimize the decision associated risks and to create results driven business strategies.
The report starts with terms and definitions associated with Bio-Based Platform Chemicals market. It slowly advances towards the past situations and their analysis. This analysis along with current situations provides necessary base to understand how market have evolved and achieved growth.
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Next part of the Bio-Based Platform Chemicals market report focuses on the key vendors operating in this industry categorized based on their focus on regions, product segments, product portfolio, organizational development etc. The report provides such analysis of
- Cargill Incorporated
- PTT Global Chemical Public Company and many more.
- Cargill Incorporated
The year-over-year growth pattern is also discussed in depth. Similarly, the report also presents analysis of Bio-Based Platform Chemicals Market Ecosystem, Characteristics, Segmentations by geography as well as by product and applications. Regional comparison between the major regions viz. APAC, Europe, North America, ROW are also explained which point outs the leading countries or regions.
Further report provides attention to the present Bio-Based Platform Chemicals market drivers, challenges, trends, and opportunities along with their impact on the market which are decisive parameters for product and business strategies.
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Bio-Based Platform Chemicals Market driver
One driver in market is volatility in crude oil prices. The use of crude oil as a carbon feedstock for producing chemicals has dominated the industry. The oil and gas industry is one of the major suppliers of raw materials to the global platform chemicals market. The fluctuations in the crude oil prices affect the prices of the raw materials considerably, thereby affecting the costs of platform chemicals. In 2010, the price of Brent crude oil was around $77 per barrel. However, the price increased by nearly 41% in 2012. The price of crude oil per barrel decreased in the subsequent years, and by nearly 60% in 2016. In 2015, there was a significant drop in crude oil prices by almost 50% when compared with the previous year. The volatile prices of raw materials will directly affect the revenue and profit margins of the manufacturers. Vendors are compelled to seek alternative solutions to maintain their profit margins, thereby reducing the use of petroleum-derived feedstock chemicals.
Bio-Based Platform Chemicals Market challenge
one challenge in market is high production cost. The US has set a goal to produce 21 billion gallons of advanced biofuels by 2022. To achieve the target, the gap between research and commercial, large-scale production of advanced biofuels must be bridged. Building a bio-refinery plant costs more than $100 million, and it takes 3-4 years to complete the construction. Achieving the national energy and climate goals will require a large, economically viable, and environmentally sustainable bio-based industry. Limitations in technology and economies of scale are some of the factors responsible for the high production cost of bio-based platform chemicals. Lack of knowledge and commercialization of bio-based platform chemicals are also expected to hinder the growth of the global bio-based platform chemicals market. The competitive and optimized value chain for the production of these chemicals and downstream products are essential for competing with petroleum-based organic chemicals.
Bio-Based Platform Chemicals Market trend
One trend in market is increase in R&D activities. Growing R&D expenditure is a major trend that is being witnessed in the global bio-based platform chemicals market in recent years. There has been a significant increase in R&D activities to increase the application areas of bio-based platform chemicals in various industries, such as biofuels and resins, by many major vendors in recent years. Globally, major bio-based platform chemicals players have increased their R&D spending to reduce the manufacturing cost of bio-based platform chemicals. Furthermore, the manufacturers have been heavily emphasizing on new product innovations and developments to maintain a competitive edge and gain shares in the market. In 2016, an International Bioeconomy Forum (IBF) aimed at improving the orientation of research in Europe and foster multilateral cooperation was formed. This forum helps in providing an informal multilateral network for countries that are engaged in the development of a bio-based economy
Bio-Based Platform Chemicals Market report also includes five forces analysis and SWOT analysis which are effective to analyse the market situations and to know your competitive advantage over other players. It is also well-known tool used to analyze and improve the weakness in your business to achieve both stronger and profitable market position in the Bio-Based Platform Chemicals market.
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Long story short, Bio-Based Platform Chemicals Market report fulfill need of detailed and actionable Bio-Based Platform Chemicals market data on each vital parameter to make informed decisions.