The latest market analysis report published by Reports and Data, titled ‘Global Platform Chemicals Market – Forecast to 2028,’ thoroughly examines the Platform Chemicals industry to provide essential data & information for the targeted readers.
The latest market analysis report published by Reports and Data, titled ‘Global Platform Chemicals Market – Forecast to 2028,’ thoroughly examines the Platform Chemicals industry to provide essential data & information for the targeted readers. The report consists of quantitative and qualitative research on the market performed by our market experts. The Platform Chemicals industry report emphasizes the current and upcoming market revenue growth opportunities and trends. Moreover, the report offers key information on the industry statistics, as well as a wide range of dynamic factors including drivers, restraints, risks, challenges, threats, supply & demand ratios, production & manufacturing capacities, sales & distribution networks, cost & demand volatility, import/export ratios, profit margins, and macro-economic and micro-economic factors. The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview. Our market experts have determined the current financial positions of the leading industry players in the report leveraging advanced analytical tools such as Porter’s Five Forces Analysis, SWOT analysis, and investment assessment.
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The global platform chemicals market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are rapid industrialization, rising investments in research and development activities, and presence of established manufacturers around the world.
Constant innovation of technology in chemical engineering industry has shown significant expansion in terms of production, sales, and development. Platform chemicals can be defined as a group of twelve building block chemicals that are primarily produced from sugars through biological conversions. They contain molecules with varying functional groups that can be converted into other useful molecules based on various subgroups including C3, C4, C5 and C6. These subgroups define number of carbon atoms present in molecules and are further segmented into different compounds such as glycerol & 3-hydroxypropionic acid, succinic acid, fumaric acid and malic acid, levulinic acid, glutamic acid and itaconic acid, sorbitol, glucaric acid and 2,5-furan dicarboxylic acid respectively. Increasing usage in various end-use industries as well as inclination towards bio-based chemicals will support growth of the market going ahead.
Market Overview:
The global Platform Chemicals market has significantly grown over the recent past and is expected to register rapid growth over the forecast period of 2021 to 2028. The pharma and healthcare sector is rapidly evolving with innovations in technology, increasing healthcare spending and improving healthcare facilities and systems. Many hospitals, ambulatory surgical care centers and clinics across the globe are adopting advanced devices and equipment. Revenue growth of the global Platform Chemicals market is significantly driven by factors such as increasing prevalence of chronic diseases, rapid advancements in healthcare and medical sector, high adoption of latest tools and techniques and growing funds by several public and private sectors. In addition, rising focus on drug development, increasing demand for precision medicine, high adoption of home care settings and point-of-care diagnostics, increasing investments in research and development activities are expected to drive global market revenue growth during the forecast period.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
• BASF SE
• Braskem SA
• Myriant Technologies LLC
• DuPont Tate & Lyle Bio Products Company LLC
• Lucite International Group
• Evonik Industries AG
• Cargill Incorporated
• IP Group Plc
• Koninklijke DSM NV
• Itaconix Corporation
• LyondellBasell Industries NV
• Merck KGaA
• Parchem fine & specialty chemicals Inc.
• PTT Global Chemical Public Co. Ltd.
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Platform Chemicals Market Segmentation:
Type Outlook (Revenue, USD Billion; 2018 – 2028)
• Sugar
• Biogas
• Oil
• Syngas
• Algae
• Others
Application Outlook (Revenue, USD Billion; 2018 – 2028)
• Polymer
• Solvents
• Fuels
• Pharmaceuticals
• Perfumes
• Others
Regional Outlook:
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Latin America (Brazil, Rest of LATAM)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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