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North America Bio-Based Chemicals Market Forecast 2019-2027

The North America bio-based chemicals market is expected to progress with the fastest CAGR of 17.55% over the forecast period of 2019-2027. The alcohol industry is the key end user in this market. A biorefinery is a facility that integrates biomass conversion processes and equipment to produce fuels, power, and chemicals from the biomass. Biorefining seems to have a stronghold in the global economy with the increase in technological advancements. The rapid growth of biorefining could result in the expansion of production capacity of renewable chemicals in the global market.

Geographically, the market is segmented into Canada and the United States bio-based chemicals market. The Canadian bio-based market's growth is influenced by the increasing industrial applications of bio-based chemicals and rising demand for biofuels and bio-lubricants in Canada's transport sector. As a result, the market is expected to register the highest CAGR over the forecast period. On the other hand, the US market is progressing due to the country's booming pharmaceutical industry contribution and the various policies and regulations for the development of biochemical market by the government.

Companies that have established themselves in the bio-based chemicals market in the North American region are Danimer Scientifican Inc., Methanex Corporation, Synbra, Teijin Limited, Mitsui & Co., Ltd., PTT Global, Corbion NV, Royal DSM NV, Braskem, Novozymes A.S., Bioamber Inc., Zhejiang Hisun Biomaterials Co., Ltd., Mitsubishi Chemical Holdings Corporation, BASF SE, Abengoa, S.A., Natureworks LLC, Cargill Incorporated, Yield10 Bioscience and GC Innovation America.
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North America Bio-Based Chemicals Market Forecast 2019-2027
Published By :Inkwood Research
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