LATIN AMERICA BIO-BASED CHEMICALS MARKET 2019-2028

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LATIN AMERICA BIO-BASED CHEMICALS MARKET 2019-2028

Market by Type, End-users, and Country | Forecast 2019-2028

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Triton’s report suggests that the Latin America bio-based chemicals market is probable to grow at a CAGR of 13.69% during the anticipated period 2019-2028.


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The countries scrutinized in this market include:

•        Brazil

•        Mexico

•        Rest of Latin America

In Latin America, the bio-based chemicals market is primarily motivated by government actions to promote the use of biodegradable plastic bags over traditional plastic bags. For instance, the Brazilian government has initiated a ban on petroleum-based plastic grocery bags, directing supermarkets to use plant-based plastic bags. Moreover, as per this law, the grocers are eligible only to provide biodegradable bags. Whereas, the distribution of non-biodegradable plastic bags can cause the stores to pay hefty fines. This measure is expected to increase the demand for biodegradable bags, heightening the need for bioplastics. Hence, the growth in biodegradable plastic bags opens up several growth opportunities for the bio-based chemicals market in Brazil, and across the region.

Similarly, Mexico’s authorities have imposed a law that has banned non-biodegradable plastics, further expecting all stores to provide biodegradable bags to the customers. This would increase the demand for bioplastics, and, in turn, biochemicals. Furthermore, the growing adoption of biodegradable plastics by numerous companies is also propelling the market’s development in the country. Bioplastics are an example of eco-friendly products as they are formed through a less polluting process in the petrochemical industry. Therefore, the rise in the adoption of bioplastics generates potential growth opportunities for the bio-based chemicals market in Mexico.  

Braskem SA is a thermoplastic resin provider that produces, distributes, and markets petrochemical and plastic resins. Its product portfolio entails ethylene, polymer and chemical-grade propylene, automotive gasoline, butadiene, and other basic petrochemicals. The company distributes agrochemicals, flavor and fragrance, household and industrial products, adhesives, and more. Braskem’s operations are in different regions, including Latin America. The company’s headquarter is located in Sao Paulo, Brazil. 

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Table of Content

1.    LATIN AMERICA BIO-BASED CHEMICALS MARKET - SUMMARY

2.    INDUSTRY OUTLOOK

2.1. MARKET DEFINITION

2.2. KEY INSIGHTS

2.2.1.   AGRICULTURE TO BE FASTEST-GROWING SEGMENT

2.2.2.   BIOFUELS ARE MARKET LEADER IN TERMS OF PRODUCT SEGMENT

2.3. IMPACT OF COVID-19 ON BIO-BASED CHEMICALS MARKET

2.4. PORTER’S FIVE FORCES ANALYSIS

2.4.1.   THREAT OF NEW ENTRANTS

2.4.2.   THREAT OF SUBSTITUTE

2.4.3.   BARGAINING POWER OF BUYERS

2.4.4.   BARGAINING POWER OF SUPPLIERS

2.4.5.   THREAT OF COMPETITIVE RIVALRY

2.5. MARKET ATTRACTIVENESS INDEX

2.6. VENDOR SCORECARD

2.7. KEY IMPACT ANALYSIS

2.7.1.   COST

2.7.2.   AVAILABILITY

2.7.3.   OBJECTIVES

2.7.4.   ALTERNATIVES

2.7.5.   ENVIRONMENTAL CONCERN

2.8. MARKET DRIVERS

2.8.1.   FAVORABLE GOVERNMENT POLICIES TOWARDS BIO-BASED PRODUCTS

2.8.2.   GROWING USE OF ECO-FRIENDLY PRODUCTS LIKE BIOPLASTICS

2.8.3.   HIGH MARKET POTENTIAL OF BIO-BASED CHEMICAL PRODUCTS

2.9. MARKET RESTRAINTS

2.9.1.   COST CONSTRAINT

2.10.    MARKET OPPORTUNITIES

2.10.1.   VOLATILE/UNCERTAIN CRUDE OIL PRICES

2.10.2.      AUTOMOTIVE MANUFACTURERS’ FOCUS ON REDUCING CARBON FOOTPRINT

2.11.    MARKET CHALLENGES

2.11.1.  LACK OF SUPPLY CHAIN MODEL IN RAW MATERIALS AND FEEDSTOCK

3.    LATIN AMERICA BIO-BASED CHEMICALS MARKET OUTLOOK - BY TYPE

3.1. BIOPLASTICS

3.1.1.   BIO-DEGRADABLE

3.1.1.1.      PLA

3.1.1.2.      PHA

3.1.1.3.      REGENERATED CELLULOSE

3.1.1.4.      BIO-DEGRADABLE POLYESTER

3.1.1.5.      OTHER BIO-DEGRADABLE PLASTICS

3.1.2.   NON-BIODEGRADABLE

3.1.2.1.      BIO PET

3.1.2.2.      BIO PE

3.1.2.3.      BIO PA

3.1.2.4.      OTHER NON-BIODEGRADABLE PLASTICS

3.2. BIOFUELS

3.2.1.   BIO-DIESEL

3.2.2.   BIOGAS

3.2.3.   SOLID BIOMASS

4.    LATIN AMERICA BIO-BASED CHEMICALS MARKET OUTLOOK - BY END-USERS

4.1. INDUSTRIAL CHEMICAL

4.1.1.   SUCCINIC ACID

4.1.2.   ALCOHOL

4.1.3.   BIO-BASED DYES

4.1.4.   LACTIC ACID

4.1.5.   GLYCEROL

4.1.6.   ACRYLIC ACID

4.1.7.   OTHER INDUSTRIAL CHEMICALS

4.2. PHARMACEUTICALS

4.2.1.   ENZYMES

4.2.2.   AMINO ACID

4.2.3.   VITAMINS & RELATED COMPOUNDS

4.2.4.   ANTIBIOTICS

4.2.5.   OTHER PHARMACEUTICALS

4.3. FOOD PRODUCTS

4.3.1.   ALCOHOLIC BEVERAGES

4.3.2.   OTHER FOOD PRODUCTS

4.4. AGRICULTURE

4.4.1.   BIO-FERTILIZERS

4.4.2.   BIOPESTICIDES

4.4.3.   OTHER AGRICULTURE

5.    LATIN AMERICA BIO-BASED CHEMICALS MARKET - REGIONAL OUTLOOK

5.1. BRAZIL

5.2. MEXICO

5.3. REST OF LATIN AMERICA

COMPETITIVE LANDSCAPE

5.4. ABENGOA SA

5.5. BASF SE

5.6. BRASKEM SA

5.7. CARGILL INCORPORATED

5.8. CORBION NV

5.9.  DANIMER SCIENTIFIC INC

5.10.   METHANEX CORPORATION

5.11.   MITSUBISHI CHEMICAL CORPORATION

5.12.    MITSUI & CO LTD

5.13.     NATUREWORKS LLC

5.14.     NOVOZYMES

5.15.     PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED

5.16.     ROYAL DSM NV

5.17.     TEIJIN LIMITED

6.    RESEARCH METHODOLOGY & SCOPE

6.1. RESEARCH SCOPE & DELIVERABLES

6.2. SOURCES OF DATA

6.3. RESEARCH METHODOLOGY

List of table

TABLE 1: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)      

TABLE 2: VENDOR SCORECARD        

TABLE 3: SOME OF THE POLICIES RELATED TO BIOPLASTICS IN KEY COUNTRIES         

TABLE 4: VARIOUS INITIATIVES TAKEN BY DIFFERENT COUNTRIES 

TABLE 5: MARKET POTENTIAL IN TERMS OF CHEMICAL BY VARIOUS COMPANIES         

TABLE 6: WORLD BIO-BASED MARKET PENETRATION 2010-2025       

TABLE 7: AUTOMOTIVE MANUFACTURERS USING BIOPOLYMERS IN THEIR MANUFACTURING

TABLE 8: APPLICATIONS OF GLYCEROL      

TABLE 9: APPLICATION OF AMINO ACIDS    

TABLE 10: CATEGORIES OF ALCOHOLIC BEVERAGES   

TABLE 11: INSTANCES OF BIO-FERTILIZERS          

TABLE 12: BENEFITS OF BIOPESTICIDES AND ITS FACTORS   

TABLE 13: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY TYPE, 2019-2028 (IN $ MILLION)      

TABLE 14: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY BIOPLASTICS, 2019-2028 (IN $ MILLION)        

TABLE 15: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY BIO-DEGRADABLE PLASTICS, 2019-2028 (IN $ MILLION)

TABLE 16: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY NON-BIODEGRADABLE PLASTICS, 2019-2028 (IN $ MILLION)  

TABLE 17: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY BIOFUELS, 2019-2028 (IN $ MILLION)      

TABLE 18: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY END-USER, 2019-2028 (IN $ MILLION)   

TABLE 19: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY INDUSTRIAL CHEMICALS, 2019-2028 (IN $ MILLION)

TABLE 20: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY PHARMACEUTICALS, 2019-2028 (IN $ MILLION)

TABLE 21: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY FOOD PRODUCTS, 2019-2028 (IN $ MILLION)          

TABLE 22: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY AGRICULTURE, 2019-2028 (IN $ MILLION)        

TABLE 23: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)       

List of Figures

FIGURE 1: MARKET ATTRACTIVENESS INDEX       

FIGURE 2: KEY IMPACT ANALYSIS     

FIGURE 3: REGION WISE PRODUCTION CAPABILITY OF BIOPLASTICS IN 2019 (IN %)      

FIGURE 4: WORLDWIDE CRUDE OIL PRICE TREND 2009-2018 ($/BARREL)  

FIGURE 5: WORLDWIDE PRODUCTION OF BIOPLASTICS 2018-2024 (IN ‘000 TONS)          

FIGURE 6: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY BIOPLASTICS, 2019-2028 (IN $ MILLION)        

FIGURE 7: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY BIO-DEGRADABLE, 2019-2028 (IN $ MILLION)          

FIGURE 8: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY PLA, 2019-2028 (IN $ MILLION)      

FIGURE 9: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY PHA, 2019-2028 (IN $ MILLION)      

FIGURE 10: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY REGENERATED CELLULOSE, 2019-2028 (IN $ MILLION)

FIGURE 11: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY BIO-DEGRADABLE POLYESTER, 2019-2028 (IN $ MILLION)          

FIGURE 12: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY OTHER BIO-DEGRADABLE PLASTICS, 2019-2028 (IN $ MILLION)          

FIGURE 13: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY NON-BIODEGRADABLE, 2019-2028 (IN $ MILLION)

FIGURE 14: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY BIO PET, 2019-2028 (IN $ MILLION)      

FIGURE 15: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY BIO PE, 2019-2028 (IN $ MILLION)      

FIGURE 16: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY BIO PA, 2019-2028 (IN $ MILLION)      

FIGURE 17: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY OTHER NON-BIODEGRADABLE PLASTICS, 2019-2028 (IN $ MILLION)   

FIGURE 18: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY BIOFUELS, 2019-2028 (IN $ MILLION)   

FIGURE 19: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY BIO-DIESEL, 2019-2028 (IN $ MILLION)        

FIGURE 20: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY BIOGAS, 2019-2028 (IN $ MILLION)      

FIGURE 21: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY SOLID BIOMASS, 2019-2028 (IN $ MILLION)          

FIGURE 22: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY INDUSTRIAL CHEMICAL, 2019-2028 (IN $ MILLION)

FIGURE 23: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY SUCCINIC ACID, 2019-2028 (IN $ MILLION)          

FIGURE 24: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY ALCOHOL, 2019-2028 (IN $ MILLION)   

FIGURE 25: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY BIO-BASED DYES, 2019-2028 (IN $ MILLION)          

FIGURE 26: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY LACTIC ACID, 2019-2028 (IN $ MILLION)        

FIGURE 27: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY GLYCEROL, 2019-2028 (IN $ MILLION)        

FIGURE 28: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY ACRYLIC ACID, 2019-2028 (IN $ MILLION)        

FIGURE 29: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY OTHER INDUSTRIAL CHEMICALS, 2019-2028 (IN $ MILLION)          

FIGURE 30: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY PHARMACEUTICALS, 2019-2028 (IN $ MILLION)

FIGURE 31: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY ENZYMES, 2019-2028 (IN $ MILLION)   

FIGURE 32: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY AMINO ACID, 2019-2028 (IN $ MILLION)        

FIGURE 33: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY VITAMINS & RELATED COMPOUNDS, 2019-2028 (IN $ MILLION)       

FIGURE 34: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY ANTIBIOTICS, 2019-2028 (IN $ MILLION)        

FIGURE 35: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY OTHER PHARMACEUTICALS, 2019-2028 (IN $ MILLION)      

FIGURE 36: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY FOOD PRODUCTS, 2019-2028 (IN $ MILLION)          

FIGURE 37: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY ALCOHOLIC BEVERAGES, 2019-2028 (IN $ MILLION)         

FIGURE 38: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY OTHER FOOD PRODUCTS, 2019-2028 (IN $ MILLION)           

FIGURE 39: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY AGRICULTURE, 2019-2028 (IN $ MILLION)          

FIGURE 40: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY BIO-FERTILIZERS, 2019-2028 (IN $ MILLION)          

FIGURE 41: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY BIOPESTICIDES, 2019-2028 (IN $ MILLION)          

FIGURE 42: LATIN AMERICA BIO-BASED CHEMICALS MARKET, BY OTHER AGRICULTURE, 2019-2028 (IN $ MILLION)

FIGURE 43: LATIN AMERICA BIO-BASED CHEMICALS MARKET, REGIONAL OUTLOOK, 2019 AND 2028 (IN %)    

FIGURE 44: BRAZIL BIO-BASED CHEMICALS MARKET 2019-2028 (IN $ MILLION)     

FIGURE 45: MEXICO BIO-BASED CHEMICALS MARKET 2019-2028 (IN $ MILLION)   

FIGURE 46: REST OF LATIN AMERICA BIO-BASED CHEMICALS MARKET 2019-2028 (IN $ MILLION)       

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