Platform chemicals are building blocks that can be converted to a wide range of materials or chemicals. They can be either bio-based or petroleum-based. Basic solvents, acids, and starting material for polymers. Acetic acid, ethylene, methanol, polypropylene, toluene, benzene, and ethanol are some of the commonly used petroleum-based chemicals in the industry. However, due to increasing hazardous effect from petroleum chemicals are the reason manufacturers are producing renewable platform chemicals. Furthermore, increasing technological advancements in biotechnology are driving the production of platform chemicals from renewable feedstock. Propionic acid, butanediol, glycerol, sorbitol, succinic acid, and lactic acid are some of the majorly used bio-based platform chemicals used in various industries. Platform chemical finds applications in paints, dyes, agrochemicals, coatings, paints, varnishes, specialty chemicals, and dyes.
Global platform chemicals market size is expected to expand significantly, owing to increasing demand from various industries across the globe during the forecast period. Platform chemicals are majorly used in the production of paints and coatings. Growing population around the world is expected to increase the demand for paints and coatings and hence increase the demand for platform chemicals, subsequently driving the market growth. Furthermore, bio-based platform chemicals are expected to witness significant demand from various industries. For instance, bio-based platform chemicals are used for the production of plastics and varnished, which find applications in various industries. Moreover, platform chemicals manufacturing industries are shifting towards production of environment-friendly products. This is expected to increase the demand for bio-based platform chemicals and hence propel the market growth.
However, increasing side-effects and hazards occurring due to petroleum-based platform chemicals is expected to hamper the global platform chemicals market growth during the forecast period. Moreover, price volatility of raw materials along with supply chain issues is expected to restrain the market growth in the near future.
Market Regional Analysis
Asia Pacific is expected to hold significant market share in the global platform chemicals market during the forecast period. This is owing to the availability of cheap labor and ample raw materials in the region. Furthermore, increasing demand for platform chemicals from emerging economies such as India and China is expected to impel growth of the market during the forecast period. Moreover, North America is expected to hold significant market share during the forecast period, owing to the presence of major market players in the region.
Key players operating in the global platform chemicals market include Dow Chemical, GFBiochemicals, DuPont Tate & Lyle, BASF, BioAmber, Novozymes, INEOS, Myriant, Mitsubishi Chemical, and PTT Global Chemical Public Company
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.