Renewable Chemicals Market

Renewable Chemicals Market - Global
Industry Insights, Trends, Outlook and
Opportunity Analysis, 2018-2026
Renewable chemicals commonly known as bio-based chemicals are obtained from
various renewable sources such as organic waste products, agricultural waste,
agricultural feedstock, microorganism, and biomass. Due to lower carbon constituent
and environment-friendly characteristics, renewable chemicals have emerged as
potential substitutes for petroleum-based chemicals. Increasing awareness and growing
demand for methanol and ethanol in the pharmaceutical industry is a major factor
expected to fuel growth of the renewable chemicals market during the forecast period.
The renewable chemicals market is expected to be dominated by Europe, followed by
North America. This is mainly attributed to inclination of the populace and industry
players towards adoption of novel and technologically advanced green products.
However, backed up by supportive government policies and low labor cost, Asia Pacific
is expected to attract enormous growth for the market during the forecast period.
Renewable chemicals have diverse application such as agriculture, food & beverages
packaging, biomedical, among others. Technology applied for manufacturing renewable
chemicals from biomass includes thermo chemical conversion, enzymatic hydrolysis,
dehydrative transformation, fermentation and bioconversion, production of Fischer
Tropsch diesel, acid hydrolysis, among others.
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Renewable Chemicals Market Outlook – Surge in End User Demand Augmenting
Market Growth
Emerging technological breakthroughs, inclination of the populace towards eco-friendly
products, and supportive government policy are fueling growth of the renewable
chemicals market. Moreover, the growing demand for ethanol & methanol, green
packaging materials, and consumer goods packaging materials is expected to witness
tremendous growth during the forecast period. Abundant raw material, cheap labor cost,
and increasing demand for renewable chemicals in China and India is expected to
propel growth of the market for renewable chemicals. Moreover, tremendously
escalating urbanization and industrialization in emerging economies of Asia Pacific are
further expected to amplify demand for renewable chemicals across various flourishing
end-use industries. Strict regulation by EU on the use of fossil fuels has compelled
manufacturers and researchers to innovate and develop new technology, which can
replace fossil fuel.
Renewable Chemicals Market Challenges – High Cost for Commercialization
The renewable chemicals market is very niche, with few numbers of players in the
global market. Moreover, increasing consumer awareness about the environment is
expected to sharply incline towards green and eco-friendly chemicals. To fulfill
increasing demand for renewable chemicals, pilot projects have to be commercialized
and players have to make significant investments in research and development to
upgrade the existing production technology and develop new products. While the
market offers highly lucrative growth opportunities, high capital investment in production
of renewable chemicals as compared to other conventional chemicals and polymers, is
expected to be a key challenge for market growth. Also, the viability of renewable
chemicals in terms of matching performance of conventional chemicals is still to be
conclusively proved, which dissuades end-use industries from adopting these
chemicals. Increasing technological advancements and growing consumer awareness
is expected to change the tide in the near future. Moreover, due to abundant petroleum
reserves in Middle East and Latin America, the market for renewable chemicals in these
regions is expected to experience least growth during the forecasted period.
Renewable Chemicals Market – Regulatory Scenario:
● 2009, Federal Legislation enthusiastic support for bio based products
development and promotion.
● As per The Biomass Research and Development Act of 2000, established the
biomass research and development initiative to promote and develop bio based
products, which consist of representatives from the white house, US Department
of Agriculture (USDA) and US Department of Energy
The key players in the market include Archer-Daniels-Midland Company (ADM), Amyris
Inc., BASF SE, Bioamber Inc., Biomethanol Chemie Nederland B.V., Braskem, Cargill
Inc., DSM, E. I. DU Pont DE Nemours & Company, Evonik Industries AG, Genomatica
Inc., Metabolix, Inc., Myriant Corporation, Natureworks LLC, Novozymes A/S, OPX
Biotechnologies, Solazyme Inc., Solvay, The Dow Chemical Com.
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Renewable Chemicals Market report categorizes global market by produc type, application, and geography - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-25

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