MRFR Press Release - Market Research Future has published a Cooked Research Report on the Global Bio-based Chemicals Market. The Bio-based Chemicals Market was valued at USD 96.39 billion in 2023 and is expected to reach USD 197.56 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.30% from 2024 to 2032.

MRFR recognizes the following companies as the key players in the Global Bio-based Chemicals Market— AGAE Technologies, TotalEnergies, ADM, DuPont, Evonik Industries, Toray Industries Inc, Cargill Incorporated, GF Biochemicals Ltd, Mitsubishi Chemical Corporation, and DSM.

Bio Based Chemicals Market Highlights

The Global Bio-based Chemicals Market is accounted to register a CAGR of 8.30% during the forecast period and is estimated to reach USD 197.56 Billion by 2032.

The Global Bio-based Chemicals Market refers to the worldwide industry involved in the production, distribution, and utilization of chemicals derived from renewable biological resources. Bio-based chemicals are a subset of the broader bioeconomy and are sourced from renewable feedstocks such as agricultural crops, algae, waste materials, and various forms of biomass.

The growth of the Global Bio-based Chemicals Market is influenced by factors such as government regulations promoting renewable resources, advancements in biotechnology and bioengineering, consumer preferences for eco-friendly products, and the overall shift toward a circular economy.

Segment Analysis

The Global Bio-based Chemicals Market has been segmented based on type and application.

On the basis of type, the market is segmented into Bio-plastics, Bio-alcohols, Bio-solvents, Bio-surfactants and Bio-based acids. The bio-alcohols category accounted for the biggest market share of the market. The broad expanding demand from major end-use sectors such as food and beverage, pharmaceutical, cosmetics, and personal care.

Based on application, the market has been segmented into Paints & coating, Food & beverages, Agriculture, Automotive, Personal Care, Detergents & cleaner and others. The Paints & coating segment is expected to dominate the market. The demand for bio-based chemicals in this segment is being driven by the need for sustainable and eco-friendly alternatives to traditional petroleum-based chemicals, which are associated with environmental concerns.

Regional Analysis

The Global Bio-based Chemicals Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Bio-based Chemicals Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Bio-based Chemicals Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Global Bio-based Chemicals Market comprises of Middle East, Africa, and Latin America.

North America has been a significant player in the bio-based chemicals market due to supportive government policies, technological advancements, and consumer demand for sustainable products. The market growth is also driven by collaborations between research institutions, startups, and established companies to develop innovative bio-based solutions.

Europe is a leader in promoting sustainability and has established a strong presence in the bio-based chemicals market. The European Union's policies on reducing greenhouse gas emissions and promoting a circular economy have driven the demand for bio-based chemicals.

The Asia-Pacific region has witnessed rapid growth in the bio-based chemicals market, primarily due to increasing industrialization, population growth, and environmental concerns. The region's market growth is supported by partnerships between governments, industries, and research institutions, aimed at developing bio-based solutions to address environmental challenges.

Furthermore, the rest of the world's Global Bio-based Chemicals Market is divided into the Middle East, Africa, and Latin America.  Latin America has a diverse range of biomass resources, making it a potential hub for bio-based chemical production. The market growth is influenced by efforts to enhance agricultural productivity and create value-added products from agricultural waste.

Key Findings of the Study

• The Global Bio-based Chemicals Market is expected to reach USD 197.56.9 Billion by 2032, at a CAGR of 8.30% during the forecast period.


• The Asia-Pacific region has witnessed rapid growth in the bio-based chemicals market, primarily due to increasing industrialization, population growth, and environmental concerns


• Based on application, the market for Paints & coating holds the largest market in 2022.


• AGAE Technologies, TotalEnergies, ADM, DuPont, Evonik Industries, Toray Industries Inc, Cargill Incorporated, GF Biochemicals Ltd, Mitsubishi Chemical Corporation, and DSM.

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