Platform Chemicals Market - Size, Trend and Forecast Till 2027 Platform chemicals are building blocks that can be converted to a wide range of materials or chemicals. They can be either bio-based or petroleum-based. Basic solvents, acids, and starting material for polymers. Acetic acid, ethylene, methanol, polypropylene, toluene, benzene, and ethanol are some of the commonly used petroleum-based chemicals in the industry. However, due to increasing hazardous effect from petroleum chemicals are the reason manufacturers are producing renewable platform chemicals. Furthermore, increasing technological advancements in biotechnology are driving the production of platform chemicals from renewable feedstock. Propionic acid, butanediol, glycerol, sorbitol, succinic acid, and lactic acid are some of the majorly used bio-based platform chemicals used in various industries. Platform chemical finds applications in paints, dyes, agrochemicals, coatings, paints, varnishes, specialty chemicals, and dyes. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/2785 Market Outlook Global platform chemicals market size is expected to expand significantly, owing to increasing demand from various industries across the globe during the forecast period. Platform chemicals are majorly used in the production of paints and coatings. Growing population around the world is expected to increase the demand for paints and coatings and hence increase the demand for platform chemicals, subsequently driving the market growth. Furthermore, bio-based platform chemicals are expected to witness significant demand from various industries. For instance, bio-based platform chemicals are used for the production of plastics and varnished, which find applications in various industries. Moreover, platform chemicals manufacturing industries are shifting towards production of environment-friendly products. This is expected to increase the demand for bio-based platform chemicals and hence propel the market growth. However, increasing side-effects and hazards occurring due to petroleum-based platform chemicals is expected to hamper the global platform chemicals market growth during the forecast period. Moreover, price volatility of raw materials along with supply chain issues is expected to restrain the market growth in the near future. Market Regional Analysis Asia Pacific is expected to hold significant market share in the global platform chemicals market during the forecast period. This is owing to the availability of cheap labor and ample raw materials in the region. Furthermore, increasing demand for platform chemicals from emerging economies such as India and China is expected to impel growth of the market during the forecast period. Moreover, North America is expected to hold significant market share during the forecast period, owing to the presence of major market players in the region. Market Players Key players operating in the global platform chemicals market include Dow Chemical, GFBiochemicals, DuPont Tate & Lyle, BASF, BioAmber, Novozymes, INEOS, Myriant, Mitsubishi Chemical, and PTT Global Chemical Public Company For More Information: https://tinyurl.com/yxuarhv6 About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email : [email protected]
Platform chemicals are building blocks that can be converted to a wide range of materials or chemicals. They can be either bio-based or petroleum-based.
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