The platform chemicals market refers to the market for chemicals that are used as building blocks for a variety of other chemicals and materials. Platform chemicals are usually produced in large quantities and serve as intermediates for the production of various downstream chemicals and products.
Some of the key platform chemicals include ethylene, propylene, methanol, and butadiene. These chemicals are used in a variety of industries such as plastics, textiles, chemicals, and fuels.
The global platform chemicals market is expected to grow at a steady pace over the coming years, driven by the increasing demand for sustainable and eco-friendly chemicals. The market is also being driven by the growing demand for bio-based platform chemicals, which are produced from renewable sources such as biomass.
Some of the key players in the platform chemicals market include BASF SE, The Dow Chemical Company, Royal Dutch Shell plc, LyondellBasell Industries Holdings B.V., and Braskem S.A.
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
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