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 escalating environmental regulations, corporate sustainability goals, and the global push to decarbonize the chemical industry by replacing petroleum-based feedstocks with renewable alternatives.

As industries from plastics and textiles to pharmaceuticals and agrochemicals seek sustainable raw materials, the focus shifts to the pioneering companies developing bio-based platform chemicals. These key intermediates are the building blocks for thousands of downstream products. 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 specialized innovators shaping a circular bioeconomy.

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🔟 1. BASF SE

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

BASF is a global chemical powerhouse with a significant and growing portfolio of bio-based platform chemicals. The company leverages its vast R&D capabilities and integrated production processes to develop sustainable alternatives to conventional petrochemicals, focusing on mass-balanced approaches and renewable feedstocks.

Sustainability Initiatives:

• Production of Succinic acid entirely from renewable raw materials

• Verified biomass balance approach for products like superabsorbent polymers

• Committed to CO2-neutral growth until 2030

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9️⃣ 2. Cargill Incorporated

Headquarters: Minnetonka, Minnesota, USA
Key Offering: Bio-based Acids (Lactic Acid), Vegetable Oil Derivatives, Starches

Cargill leverages its massive agricultural supply chain to produce a wide array of bio-based intermediates. Through joint ventures like NatureWorks (for PLA) and its own processing capabilities, Cargill converts corn, soybeans, and other biomass into high-value platform chemicals for various industries.

Sustainability Initiatives:

• Joint venture with HELM on a new bio-based BDO facility

• Investment in next-generation biomass conversion technologies

• Goal to reduce supply chain greenhouse gas emissions by 30% per ton of product by 2030

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8️⃣ 3. DSM-Firmenich

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

DSM-Firmenich, formed by the merger of two leading science-based companies, is a key innovator in bio-based solutions. The company utilizes industrial biotechnology and fermentation processes to create high-performance, sustainable ingredients and platform chemicals for nutrition, health, and materials.

Sustainability Initiatives:

• Pioneering the production of bio-itaconic acid for polymers and resins

• Development of advanced enzymatic processes for biomass conversion

• Target of 100% of innovation revenue from products with a superior sustainability profile

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7️⃣ 4. INEOS

Headquarters: London, United Kingdom
Key Offering: Bio-based Ethylene, Bio-based Propylene, Bio-naphtha

INEOS, one of the world’s largest chemical producers, is actively investing in bio-based pathways for its core petrochemical building blocks. The company is focusing on bio-naphtha and bio-ethanol as feedstocks to produce bio-based olefins and polymers, integrating sustainability into its existing production assets.

Sustainability Initiatives:

• Investment in advanced recycling and bio-attributed production

• Partnerships to secure sustainable, circular raw materials

• Commitment to reducing greenhouse gas emissions by more than 30% by 2030

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6️⃣ 5. Corbion N.V.

Headquarters: Amsterdam, Netherlands
Key Offering: Lactic Acid, Lactides, Bio-based Succinic Acid

Corbion is a global market leader in lactic acid, lactic acid derivatives, and algae-based ingredients. The company’s high-purity platform chemicals are essential for producing bioplastics (PLA), green solvents, and various industrial applications, making it a cornerstone of the bio-based economy.

Sustainability Initiatives:

• World’s leading producer of lactic acid for bioplastics

• Expansion of lactide and PLA production capacity in Thailand

• Focus on reducing the carbon footprint of its products throughout their lifecycle

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5️⃣ 6. Myriant Corporation (GC Innovation America)

Headquarters: Lakewood, Colorado, USA
Key Offering: Bio-succinic Acid, FDCA (precursor to PEF)

Myriant, now part of GC Innovation America, specializes in the production of bio-succinic acid using proprietary biotechnology. Its platform technology efficiently converts low-cost sugars into high-value chemicals, offering a direct, high-performance replacement for petroleum-derived succinic acid.

Sustainability Initiatives:

• Proprietary bacterial strain for highly efficient bio-succinic acid production

• Lower carbon footprint compared to petrochemical routes

• Utilization of renewable, non-food competitive feedstocks

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4️⃣ 7. Mitsubishi Chemical Group

Headquarters: Tokyo, Japan
Key Offering: Bio-based Polycarbonate Diols, Isosorbide, Bio-engineering Plastics

Mitsubishi Chemical Group is a major force in developing bio-based alternatives for engineering plastics and performance materials. The company focuses on chemicals like isosorbide, derived from sorbitol, which is used to create bio-based polycarbonates and polyurethanes with enhanced properties.

Sustainability Initiatives:

• Commercial production of bio-based engineering plastics (DURABIO™)

• Development of a biomass-balance certified acrylonitrile

• Goal to achieve carbon neutrality by 2050

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3️⃣ 8. Braskem S.A.

Headquarters: São Paulo, Brazil
Key Offering: Green Ethylene, Green Polyethylene (I’m green™)

Braskem is the world’s leading producer of biopolymers, with its flagship “I’m green™” polyethylene made from sugarcane ethanol. As a major petrochemical company, Braskem has successfully integrated large-scale bio-based production into its operations, creating a direct drop-in replacement for fossil-based plastics.

Sustainability Initiatives:

• World’s first industrial-scale green polyethylene plant

• Captures and fixes CO2 from the atmosphere during sugarcane growth

• Target of 1 million tons of thermoplastic resins and chemicals with recycled content by 2030

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2️⃣ 9. Genomatica

Headquarters: San Diego, California, USA
Key Offering: Bio-BDO (1,4-Butanediol), Bio-Nylon intermediates (HMDA)

Genomatica is a technology leader dedicated to engineering sustainable materials. Using advanced fermentation processes with engineered microorganisms, the company produces widely-used chemicals like BDO directly from plant-based sugars, offering a more sustainable and often cost-competitive route.

Sustainability Initiatives:

• Pioneering the commercial-scale production of bio-BDO

• Strategic partnerships with major brands (Lululemon, Unilever) and manufacturers

• Focus on reducing energy use and GHG emissions by over 50% compared to conventional processes

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1️⃣ 10. PTT Global Chemical Public Company Limited (GC)

Headquarters: Bangkok, Thailand
Key Offering: Bio-based Oleochemicals, Bioplastics Compounds

PTTGC is a leading Asian petrochemical and biochemical company with a strong commitment to sustainability. It is investing heavily in bio-aromatics, bio-olefins, and bioplastics, leveraging Thailand’s robust agricultural sector to produce chemicals from palm oil and sugar feedstocks.

Sustainability Initiatives:

• Investment in a world-scale biocomplex for bio-based aromatics

• Development of certified sustainable palm oil supply chains

• Goal to increase revenue from green polymers to 25% by 2030

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🌍 Outlook: The Future of Platform Chemicals Is Renewable and Circular

The bio-based platform chemicals market is at a pivotal juncture. While the current market share is still a fraction of the petrochemical industry, the shift towards renewable carbon sources is accelerating rapidly, driven by policy, consumer demand, and technological breakthroughs.

📈 Key Trends Shaping the Market:

• Expansion of production capacity for key bio-building blocks like lactic acid, succinic acid, and bio-BDO

• Increasing regulatory support and carbon pricing mechanisms favoring bio-based products

• Advancements in synthetic biology and fermentation efficiency reducing production costs

• Strategic alliances between chemical companies, biotechnology firms, and major brands to create end-to-end sustainable value chains

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

The companies listed above are not just producing chemicals—they are engineering the foundational elements for a more sustainable and circular future across countless industries.