The European Commission’s Joint Research Center recently released an important report detailing the potential of bio-based chemicals in the EU market and forecasting annual production from 2018 to 2025. will maintain a growth rate of 3.6%.
In the report, experts describe 10 key categories of bio-based chemical products, detailing their presence in the EU The market’s production and consumption levels, maturity, and the main drivers and constraints on their future development.
These 10 categories of products are platform chemicals, solvents, plastic polymers, paints, coatings, inks and Dyes, surfactants, cosmetics and personal care products, adhesives, lubricants, plasticizers and man-made fibers. According to statistics, the total production of bio-based products in the EU is approximately 4.7 million tons per year, accounting for 3% of the entire market (i.e., 97% for petroleum-based products). The market is diverse and huge, and there are differences between product categories. It is expected that in the near future The compound annual growth rate for several years is 3.6%. There are still barriers to the development of the bioindustry, such as production costs, but there are also great opportunities, and new policy measures may help.
The report covers not only innovative bio-based products, but also bio-based products that have been in production for some time (such as turpentine, rayon, and cellulose acetate). The scope of this study is the EU market and therefore includes certain biobased products produced in third countries and imported into the EU market. According to statistics, RoadToBio has developed a total of about 305 bio-based products, of which 208 products have business models to choose from, with a technology maturity level of ≥8, and about 50 of them are representative products.
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