Platform Chemicals Market - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

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.

Market Outlook

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.

Market Players

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

Research Methodology

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:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

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.

Smiley face

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

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:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
Smiley face

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.

Data Standardization:

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:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

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.

Data Validation

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:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

Choose License Type

"How Can I Help You" ?

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]

Key Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

    We aim to fulfil client's research demands with tailored research solutions.

  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.