The Global Bio-based Platform Chemicals Market was valued at USD 8.74 Billion in 2023 and is projected to reach USD 17.90 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 10.7% during the forecast period (2024–2030). This robust growth is fueled by increasing environmental regulations, consumer demand for sustainable products, and significant technological advancements in biorefining processes that enable the cost-effective production of chemicals from renewable biomass.

As the chemical industry undergoes a profound transformation toward circularity and reduced carbon footprint, the companies producing bio-based platform chemicals are at the forefront. These molecules, derived from sources like sugar, cellulose, and vegetable oils, serve as building blocks for a vast array of products, from biodegradable plastics and textiles to pharmaceuticals and biofuels. In this blog, we profile the Top 10 Companies in the Bio-based Platform Chemicals Industry—a diverse group of chemical giants, agribusiness leaders, and dedicated biotechnology firms shaping a more sustainable future.

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🔟 1. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Succinic Acid, 1,4-Butanediol (BDO), Bio-based Polyamides

BASF is a global chemical powerhouse with a strong commitment to sustainability through its “We create chemistry” strategy. The company is a leading producer of bio-based succinic acid, a key platform chemical, through its joint venture, Succinity GmbH. BASF integrates bio-based alternatives into its vast portfolio, offering solutions for industries ranging from automotive to packaging.

Sustainability Initiatives:

• Production of certified bio-based succinic acid from non-food biomass

• Development of bio-based polyamides (e.g., Ultramid® BALANCE) for high-performance applications

• Target of achieving CO2-neutral growth until 2030

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9️⃣ 2. Cargill Incorporated

Headquarters: Wayzata, Minnesota, USA
Key Offering: Bio-based Acrylic Acid, Lactic Acid, Vegetable Oil Derivatives

Leveraging its immense agricultural supply chain, Cargill is a major force in the bio-based chemicals space. Through joint ventures and internal R&D, the company produces a range of platform chemicals. Its collaboration with HELM in the QORE® joint venture focuses on bio-based 1,4-butanediol (BDO), a critical ingredient for sustainable plastics, spandex, and electronics.

Sustainability Initiatives:

• Investment in fermented chemicals like bio-acrylic acid via the joint venture with Novozymes (now part of Novonesis)

• Utilization of non-food-competing feedstocks to ensure sustainable sourcing

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8️⃣ 3. DSM-Firmenich (now dsm-firmenich)

Headquarters: Kaiseraugst, Switzerland / Maastricht, Netherlands
Key Offering: Bio-based Adipic Acid, Itaconic Acid, Specialty Bio-intermediates

dsm-firmenich, formed by the merger of Royal DSM and Firmenich, is a leader in health, nutrition, and bioscience. The company utilizes advanced biotechnology and fermentation to produce high-value bio-based platform chemicals. Their expertise in biocatalysis enables the creation of novel molecules for fragrances, flavors, and high-performance materials with a lower environmental impact.

Sustainability Initiatives:

• Pioneering the production of bio-based adipic acid, a key precursor for nylon, using a yeast-based fermentation process

• Strategic focus on circular and bio-based solutions as part of its ESG commitments

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7️⃣ 4. INEOS

Headquarters: London, United Kingdom
Key Offering: Bio-based Ethanol, Bio-attributed Polymers

INEOS, one of the world’s largest chemical producers, is actively investing in bio-based pathways to decarbonize its product lines. The company’s INOVYN subsidiary produces bio-attributed vinyls, and INEOS Oxide is exploring bio-based ethylene glycol. Their strategy involves integrating bio-based and recycled feedstocks into existing manufacturing assets to scale up production efficiently.

Sustainability Initiatives:

• Launch of bio-attributed product lines with certified sustainable feedstocks

• Investment in advanced recycling and bio-based technologies to meet net-zero targets

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6️⃣ 5. PTT Global Chemical Public Company Limited (GC)

Headquarters: Bangkok, Thailand
Key Offering: Bio-based Ethanol, Bio-Olefins (Bio-Naphtha), Bioplastics (PLA, PBS)

PTTGC is a leading Asian petrochemical company with a strong pivot toward bio-based and circular chemicals. The company leverages Thailand’s robust agricultural sector to produce bio-ethanol and is investing in advanced biorefineries to produce bio-olefins, which can be used to create a wide range of bio-based plastics and chemicals.

Sustainability Initiatives:

• Partnerships with global technology providers to scale bioplastics production, including polylactic acid (PLA)

• Commitment to increasing the proportion of green polymers in its portfolio

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5️⃣ 6. Corbion N.V.

Headquarters: Amsterdam, Netherlands
Key Offering: Lactic Acid, Lactides, Succinic Acid

Corbion is a pure-play leader in biobased chemistry, specializing in lactic acid and its derivatives. As the world’s leading producer of lactic acid, Corbion provides the essential building block for polylactic acid (PLA) bioplastics. The company’s technology platform is central to the global shift away from single-use plastics toward compostable and bio-based alternatives.

Sustainability Initiatives:

• Core business model centered on renewable resources and reducing fossil fuel dependency

• Expansion of lactide and PLA production capacities to meet soaring demand for bioplastics

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4️⃣ 7. Mitsubishi Chemical Group

Headquarters: Tokyo, Japan
Key Offering: Bio-based Polycarbonate, Bio-based Engineering Plastics, Succinic Acid derivatives

Mitsubishi Chemical Group is a diversified chemical company with a clear strategy for sustainability, encapsulated in its “KAITEKI” vision. The group develops and manufactures a range of bio-based polymers and chemicals, including bio-based polycarbonate resins made from renewable resources, offering performance comparable to conventional materials.

Sustainability Initiatives:

• Commercial production of DURABIO™, a bio-based engineering plastic with high durability and weatherability

• Active R&D in biomass-derived chemicals and carbon recycling technologies

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3️⃣ 8. Braskem S.A.

Headquarters: São Paulo, Brazil
Key Offering: Green Ethylene, Bio-based Polyethylene (Green PE)

Braskem is the largest producer of thermoplastic resins in the Americas and a global pioneer in biopolymers. The company’s flagship product is its “I’m green™” bio-based polyethylene, produced from sustainably sourced sugarcane ethanol. This drop-in solution is used in countless applications, from flexible packaging to automotive parts, demonstrating a fully circular carbon cycle.

Sustainability Initiatives:

• World’s first industrial-scale production of bio-based polyethylene

• Commitment to expanding its portfolio of renewable and circular products, including bio-based polypropylene

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2️⃣ 9. NatureWorks LLC

Headquarters: Plymouth, Minnesota, USA
Key Offering: Lactides, Polylactic Acid (PLA) biopolymer (Ingeo™)

NatureWorks is a world-leading manufacturer of polylactic acid (PLA) biopolymers, marketed under the Ingeo™ brand. As a joint venture owned by Cargill and PTTGC, the company specializes entirely in transforming plant sugars into a versatile family of materials that compete with conventional plastics and fibers across diverse markets.

Sustainability Initiatives:

• Production of the world’s first commercially available PLA biopolymers

• Development of advanced Ingeo™ grades for demanding applications like 3D printing and durable goods

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1️⃣ 10. Gevo, Inc.

Headquarters: Englewood, Colorado, USA
Key Offering: Isobutanol, Renewable Hydrocarbons (Jet Fuel, Isooctane)

Gevo is a renewable chemicals and biofuels company focused on the conversion of renewable carbohydrates into hydrocarbons. Its primary platform chemical, isobutanol, is a versatile molecule that can be converted into a range of products, including sustainable aviation fuel (SAF), renewable diesel, and bio-based plastics like PET.

Sustainability Initiatives:

• Pioneering the production of high-value, low-carbon biofuels and chemicals from cellulosic and starch-based feedstocks

• Multiple long-term SAF supply agreements with major airlines, showcasing the demand for bio-based chemical pathways

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🌍 Outlook: The Future of Chemicals Is Bio-based and Circular

The bio-based platform chemicals market is at an inflection point. While still a fraction of the overall chemical industry, it is growing at a pace that significantly outpaces its petroleum-based counterpart. This shift is driven by a powerful combination of regulatory pressure, consumer preference, and corporate sustainability goals, all converging to create unprecedented market momentum.

📈 Key Trends Shaping the Market:

• Advancements in Fermentation & Catalysis: Breakthroughs in synthetic biology and catalytic processes are improving yields and reducing the cost of producing bio-based chemicals, making them more competitive.

• Expansion of Feedstock Options: A move beyond first-generation (food) feedstocks to second-generation (non-food biomass, agricultural waste) and third-generation (algae) feedstocks enhances sustainability and supply security.

• Strong Policy Support: Government mandates, carbon pricing mechanisms, and green procurement policies in regions like the EU and North America are accelerating adoption.

• Strategic Partnerships: Collaborative models between agribusiness, chemical companies, and biotechnology firms are essential for scaling production and building robust value chains.

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Bio-based Platform Chemicals Market – View in Detailed Research Report

The companies profiled above are not just participating in a market; they are actively engineering the foundation for a sustainable chemical industry. By turning plants into plastics and sugars into solvents, they are proving that economic growth and environmental stewardship can go hand in hand, powering the green industrial revolution.