LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global bio-based platform chemicals market report. This research report also lists 13 other prominent vendors that are expected to impact the market during the forecast period.
The global bio-based platform chemicals market will reach USD 7,241.8 million by 2021, growing at a CAGR of almost 11%. The global bio-based platform chemicals market has witnessed tremendous growth during the last few years. The increasing adoption of environment-friendly products and stringent government regulations are the notable factors fostering the demand for these chemicals. The market growth can be attributed to the increasing demand from applications such as adhesives and sealants, paints and coating, resins, and polymers.
Competitive vendor landscape
According to the report, the global bio-based platform chemicals market is dominated by many small and large vendors. The market is characterized by the presence of well diversified international, regional, and local vendors.
“The players have a vast geographic presence with large production facilities located globally. A sizeable number of small regional vendors also operate in the market and have significant shares. The competitive environment in the market will further intensify over the forecast period with the increase in product extensions due to advances in technology,” says Hitesh Bhatia, a lead specialty chemicals research analyst from Technavio.
Vendors compete based on factors such as innovation, price, operational cost, and product quality. Some of the players can drive down the market prices because their costs are lower than that of their competitors. In addition, financial, technological, and other resources of some of the suppliers are greater than that of their competitors, and such players can better withstand the changes in market conditions.
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Top five bio-based platform chemicals market vendors
BASF produces bio-based enzymes, 1,4-butanediol (1,4-BDO), and polytetrahydrofuran (PolyTHF). The company produces different types of diols such as PolyTHF 1000 polyether, PolyTHF 650 polyether, and PolyTHF 2000 polyether.
PolyTHF polyether diol is a highly valued, saturated, linear, difunctional polyetherol. It is used in different applications such as thermoplastic polyamide elastomers, millable polyurethane gums, thermoplastic polyurethane elastomers, and polyurethane coatings.
Cargill Incorporated offers different types of bio-based platform chemicals for various applications. It offers a wide range of polyols, such as sorbitol, maltitol, and xylitol, and glycerin (USP grade glycerin, technical grade glycerin, and crude glycerin). The company offers Oxi-Cure 500 polyol and Oxi-Cure 510 polyol for different industrial applications, such as a plasticizer for plastic products and emulsion stabilizer.
DSM produces renewable energy sources such as cellulosic bioethanol, and offers bio-based succinic acid, a renewable building block. Biosuccinium is an important product produced from bio-based succinic acid platform chemical produced by the company. It also produces acrylonitrile, Akulon, Atlac, and formic acid.
INEOS manufactures and sells bio-based products under the Champlor brand. Champlor offers different types of bio-based-glycerin. Chloride grade and acetate grade glycerin are the two main types of glycerin produced by the company. The company also produces fatty acids and biodiesel from renewable resources
PTT Global Chemical Public Company
PTT Global Chemical Public Company provides green chemicals such as fatty alcohol, glycerin, methyl ester, and fatty alcohol ethoxylate. The glycerin products include 99.5% MIN USP and 99.5% MIN EP. The fatty alcohol products include ThaiOL 0898, ThaiOL 0810, ThaiOL 1098, and others.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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