Bio-aromatics Market - Forecast(2023 - 2028)

Bio-Aromatics are produced from the biomass or wastes that are left as residues. The most common way of producing bio-aromatics is from lignin, a raw material present in the cell walls of many plants. The other ways of producing the bio-aromatics include the synthesis of sugars by Diels-Alder reaction, by synthesis of black liquors. The inadequate sources and high prices of crude oil are the reasons for producing Bio-Aromatics. Bio-Aromatics are also safe in terms of environment. 

Lignin, a raw material used in the preparation of bio-aromatics changes its stability when it is subjected to a variety of transformations and therefore can be used in various types of applications depending on its stability. The applications include paints, Laminates and wood panels, adhesives, inks, glues and many more. These compounds adds fragrance to many of the consumer products. The cost for manufacturing the bio-aromatics is too less compared to the old traditional method of producing them.

The bio-aromatics finds its use in many industries like food & beverages, automotive industry. Companies expanding their production capacities is also a positive driver for the market as an indication of increasing demand for the product, especially in the rubbers and petrochemicals industry.

Bio-Aromatics need bio refineries to process the lignin which is derived from the various feedstock. The cost of building the refineries are expensive to build and is also a very risky business. The usage of biomass by bioenergy and biofuels has gone up which in turn increased the prices of biomass, making troublesome for the bio-aromatics producers to purchase the feedstock. 

 

 

The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Bio-Aromatics process Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the electric vehicle market, and their specific applications in different types of vehicles.

Resources for Bio-Aromatics process market: Heat Stabilizers in polymers, Anti-Oxidant for polymers and resins, Hardening Agent for resins, Chemical Intermediate and Others

Biochemical conversion process in the Bio-Aromatics Process market: Thermochemical conversion process, Catalytic Depolymerization, Acid catalyzed dehydration.

End-user industries in Bio-Aromatics Process market: Food & Beverages industry, Furniture industry, Pharmaceuticals industry, Chemical industry, Transport industry, Fragrance industry.

The Bio-Aromatics process Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

Some of the Key players in this market include: Anellotech Inc, Biorizon, BASF, Zeeland refinery, Virent Inc, SAPPI Biotech Lignin and many more.