Bio-based Platform Chemicals Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Succinic Acid, Malic Acid, Hydroxypropionic Acid, Glucaric Acid, 1,3-Propanediol (PDO), Glycerol, Aspartic Acid, Others), By Region and Competition, 2020-2030F

Market Overview

Global Bio-based Platform Chemicals Market was valued at USD 12.45 Billion in 2024 and is expected to reach USD 15.92 Billion by 2030 with a CAGR of 4.38%. Bio-based platform chemicals serve as key building blocks for the production of a wide range of bio-based materials, chemicals, and fuels, offering a renewable and lower-carbon footprint solution that aligns with global sustainability goals and regulatory pressures. Market growth is fueled by the rising awareness of climate change and environmental pollution, alongside government incentives and stringent regulations encouraging the adoption of green chemicals across various industries.

Major sectors leveraging bio-based platform chemicals include packaging, automotive, agriculture, personal care, pharmaceuticals, and textiles. However, challenges such as high production costs compared to fossil-based alternatives, feedstock availability, and the need for continuous technological improvements remain barriers to widespread adoption. Despite these hurdles, the global bio-based platform chemicals market is poised for sustained growth, driven by increasing environmental consciousness, innovation, and expanding industrial applications.

Key Market Drivers

Growth in Bioplastic Industry

The rapid expansion of the bioplastic industry is emerging as a significant driver for the growth of the global bio-based platform chemicals market. Similar to fossil fuel-based plastics, Asia is the leading region for bioplastics production globally. In 2023, Asia accounted for 51 percent of the world’s bioplastic production capacity, with China’s bioplastics industry experiencing significant expansion. As the world moves towards sustainable alternatives to conventional plastics, the demand for bio-based chemicals derived from renewable resources has intensified, positioning the bioplastics sector at the forefront of this transformation.

Bioplastics, produced from bio-based platform chemicals such as bio-based ethylene, lactic acid, and succinic acid, offer environmentally friendly substitutes that reduce dependence on fossil fuels and minimize carbon footprints. As of May 2024, consumers are willing to pay an average premium of 9.7% for sustainably produced or sourced products, despite ongoing cost-of-living pressures and inflationary challenges. The increasing regulatory pressure to curb plastic pollution, alongside growing consumer preference for eco-friendly products, is accelerating investments in bio-based raw materials and manufacturing technologies.

Growth in Agrochemical Industry

The expansion of the agrochemical industry is a significant catalyst driving the growth of the global bio-based platform chemicals market. As the demand for sustainable and eco-friendly agricultural inputs rises, bio-based chemicals are increasingly preferred over conventional synthetic alternatives due to their reduced environmental impact and biodegradability. These platform chemicals serve as essential building blocks in the production of bio-based pesticides, herbicides, and fertilizers, enabling agrochemical manufacturers to develop more sustainable formulations that meet stringent regulatory standards and consumer expectations.

Additionally, the push towards sustainable agriculture and the growing emphasis on reducing carbon footprints are encouraging increased investment in bio-based technologies. By 2030, global energy demand is projected to rise by up to 50%, primarily driven by growth in developing countries. As a result, a larger share of agricultural crops is expected to be diverted toward biofuel production, potentially doubling or even tripling their proportion of total usage. This synergy between agrochemical innovation and bio-based platform chemicals is accelerating market growth, positioning bio-based solutions as a critical component in the future of sustainable agriculture.

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Key Market Challenges

High Cost of Production

One of the most significant challenges facing the global bio-based platform chemicals market is the high cost of production compared to conventional petrochemical-based alternatives. The manufacturing processes for bio-based chemicals, which often involve fermentation, enzymatic conversion, or other biotechnological methods, can be capital-intensive and technologically complex. Additionally, the cost and availability of suitable biomass feedstocks, along with the need for specialized infrastructure and equipment, further contribute to elevated production expenses.

Unlike fossil-based chemicals, which benefit from mature supply chains and economies of scale, bio-based alternatives are still developing in terms of scalability and cost-efficiency. This cost disparity can limit the commercial viability of bio-based chemicals, particularly in price-sensitive markets, and pose a barrier to broader industry adoption. To address this challenge, companies must focus on improving process efficiencies, investing in technological innovation, and exploring strategic partnerships that can help reduce costs and enhance competitiveness over the long term.

Key Market Trends

Technological Innovation in Bioprocessing

One of the most influential trends shaping the global bio-based platform chemicals market is the ongoing technological innovation in bioprocessing. For instance, gas fermentation is an innovative bioprocessing technology that utilizes microorganisms, such as Clostridium, to convert carbon dioxide, carbon monoxide, or syngas into bio-based chemicals including ethanol, butanol, and organic acids. As the demand for sustainable, bio-derived alternatives to petrochemicals grows, advancements in bioprocessing are playing a critical role in making large-scale production of bio-based chemicals more efficient, cost-effective, and environmentally friendly.

Breakthroughs in areas such as synthetic biology, metabolic engineering, and advanced fermentation techniques are enabling the production of key platform chemicals such as lactic acid, succinic acid, and bio-acrylic acid from renewable feedstocks with greater yield and consistency. These technologies are also expanding the range of usable biomass, allowing for the conversion of non-food sources like agricultural waste, forestry residues, and industrial by-products.

Segmental Insights

Product Insights

Based on Product, Succinic Acid have emerged as the fastest growing segment in the Global Bio-based Platform Chemicals Market in 2024. This is driven by its versatility, sustainability profile, and expanding range of industrial applications. Produced from renewable biomass through microbial fermentation, bio-based succinic acid is gaining strong market traction as a key substitute for petroleum-derived chemicals. It serves as a critical intermediate in the production of biodegradable plastics, resins, solvents, coatings, and particularly in high-demand sectors such as food, pharmaceuticals, and personal care. The increasing focus on reducing carbon emissions and shifting toward green chemistry has led to rising investments in bio-based succinic acid production technologies.

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Regional Insights

Based on Region, North America have emerged as the dominating region in the Global Bio-based Platform Chemicals Market in 2024. This is due to a combination of technological leadership, policy support, and strong industrial infrastructure. The region is home to a large number of innovative biotechnology companies, research institutions, and well-established chemical manufacturers that are actively investing in the development and commercialization of sustainable alternatives to petroleum-based chemicals. This robust R&D ecosystem enables North America to stay at the forefront of bio-based chemical innovation.

Recent Development

• In May 2025, HH Chemical officially launched BIODEX, the world’s first bio-based materials brand delivering a fully integrated solution across the entire value chain from renewable raw materials to finished consumer products. This innovative platform creates a closed-loop ecosystem, facilitating seamless integration from sustainable sourcing to end-use applications. The BIODEX portfolio includes high-performance monomers, elastomers, polymer chips, fibers, functional fabrics, and customizable garments enabling industries to advance toward a future where sustainability and performance coexist.
• In 2025, LG Chem expanded into the global market with eco-friendly raw materials derived from vegetable oils. Their bio-acrylic acid is produced from 3-hydroxypropionic acid (3HP), generated through microbial fermentation of plant-based feedstocks. This product maintains the identical molecular structure and performance characteristics of conventional acrylic acid while being entirely bio-based. LG Chem developed the 3HP strain and fermentation technology in-house, earning the USDA Certified Biobased Product label.
• In March 2024, New Energy Blue, a clean-energy developer specializing in ultra-low-carbon biofuels and biochemicals from crop residues, advanced its Decarbonizing America initiative by launching New Energy Chemicals. In the first phase, the new biochemical subsidiary produced American-sourced and American-made bio-based ethylene to support Dow’s manufacturing of low-carbon plastics for everyday use. In the second phase, operations expanded at its Port Lavaca, Texas facility to include sustainable aviation fuel (SAF) production. By late 2025, the New Energy Freedom biomass refinery in Mason City, Iowa, is set to begin converting local corn stalks into 16–20 million gallons annually of highly decarbonized (HD) cellulosic ethanol, alongside 120,000 tons of clean HD lignin.
• In August 2025, the U.S. National Science Foundation renewed funding for BioPACIFIC MIP Biomaterials, Polymers, and Advanced Constructs from the Integrated Chemistry Materials Innovation Platform a collaborative initiative between UC Santa Barbara and UCLA. This USD 19.8 million renewal enables BioPACIFIC MIP to further drive innovation in bio-based materials by integrating synthetic biology, chemistry, automation, and artificial intelligence, establishing a unique scientific ecosystem to transform the discovery, design, and deployment of advanced materials in the United States.

Key Market Players

• Cargill, Incorporated
• dsm-firmenich
• GFBIOCHEMICALS
• BASF SE
• Mitsubishi Chemical Group Corporation
• PTT Global Chemical Public Company Limited
• DuPont
• Tate & Lyle
• Evonik Industries AG
• Aktin Chemicals, Inc.

Report Scope

In this report, the Global Bio-based Platform Chemicals Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Bio-based Platform Chemicals Market, By Product:

o   Succinic Acid

o   Malic Acid

o   Hydroxypropionic Acid

o   Glucaric Acid

o   1,3-Propanediol (PDO)

o   Glycerol

o   Aspartic Acid

o   Others

• Bio-based Platform Chemicals Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Bio-based Platform Chemicals Market.

Available Customizations:

Global Bio-based Platform Chemicals Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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