Bio-based Platform Chemicals Market to Reach US$ 5.3 Bn by 2031: TMR Study

2022-09-23 08:09:59 By : Ms. Tanhill Intelligent Bed

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WILMINGTON, Del. , Sept. 6, 2022 /PRNewswire/ -- A recent demand analysis of bio-based platform chemicals market underscores the growing awareness of renewable chemicals in various end-use industries. Incessant research in production processes pertaining to plant-based chemicals has generated massive impetus to fuel sales of bio-based platform chemicals market. The market is projected to advance at a CAGR of 11.9% during the forecast period of 2022-2031.

Rise in R&D spending on development of biocatalysts in bio-based platform chemicals market outlook. In this regard, the study authors observed that ease of availability of biomass feedstock has allowed firms to offer customized biocatalysts. Their adoption is broadening the canvas for businesses in key end-use industries particularly pharmaceuticals, plastics, food, and cosmetics. Emerging trends of the bio-based platform chemicals market underscores a rise in demand for specialty chemicals in pharmaceuticals industry.

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Bio-based Platform Chemicals Market: Key Drivers

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Transparency Market Research, a global market research company registered at Wilmington, Delaware , United States , provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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