The global bio-based chemicals market was valued at USD 73.16 billion in 2023 and is projected to expand from USD 99.86 billion in 2024 to USD 207.95 billion by 2032, reflecting a CAGR of 9.6% during the forecast period (2024–2032). The rising adoption of bio-based solutions to support environmental sustainability is expected to be a key growth driver, according to Fortune Business Insights in its report titled “Bio-based Chemicals Market, 2025–2032.”
Overview:
Bio-based chemicals are produced from renewable sources such as corn, sugar, cellulosic feedstock, biodegradable waste, and biomass. Increasing demand across food & beverage, pharmaceuticals, automotive, textiles, and industrial applications is being fueled by the depletion of petroleum resources and limited availability of fossil fuel–based products. The growing shift toward sustainable and green chemistry solutions will further accelerate market expansion in the coming years.
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Market Segments:
By Product Category:
Adhesives, platform chemicals, paints & coatings, inks & dyes, polymers for plastics, surfactants, cosmetics & personal care products, man-made fibers, and others.
By Application:
Agricultural, industrial, pharmaceutical, and others.
By Region:
North America, Europe, Asia Pacific, and Rest of the World.
Report Coverage:
The report offers:
Key growth drivers, challenges, and opportunities.
Insights into regional market developments.
Profiles of major industry players.
Strategies adopted by leading companies.
Latest updates including product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Drivers:
Depleting fossil fuel reserves and rising greenhouse gas emissions.
Supportive government initiatives promoting sustainable chemicals.
Expanding adoption of green chemistry principles.
Restraint:
High production costs associated with bio-based chemicals.
Regional Insights:
Europe: Accounted for USD 35.59 billion in 2020 and is set to dominate the market due to strong EU initiatives promoting a green and circular economy.
Asia Pacific: Expected to record robust growth owing to a shift toward eco-friendly solutions and stricter environmental regulations.
North America: Growth will be driven by advanced R&D investments in biomaterials and increasing adoption across industries.
Notable Industry Development:
December 2020: DuPont Nutrition & Biosciences and Kemira formed a strategic alliance for the formulation and commercialziation of the enzymatic polymerization-based polysaccharide platform technology by DuPont for various applications.
The Report Lists the Key Players Profiled in the Market Report:
BASF SE (Germany)
Vertec BioSolvents Inc. (U.S.)
AGAE Technologies, LLC (U.S.)
TOTAL (France)
ADM (U.S.)
DuPont (U.S.)
Evonik Industries (Germany)
Toray Industries, Inc. (Japan)
Cargill, Incorporated (U.S.)
GF Biochemicals Ltd. (Italy)
Mitsubishi Chemical Corporation (Japan)
DSM (Netherlands)
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