According to a new study, the size of the global renewable chemicals market is expected to reach $ 296.71 billion by 2030. The report provides a detailed view of the current market dynamics and provides analysis on the future growth of the market.
The demand for renewable chemicals is expected to increase in the coming years. The increased demand for sustainable solutions from the pharmaceutical, agricultural and food sectors, increasing industrialization in developing countries and the depletion of fossil fuels are driving market growth. Governments around the world are introducing stringent emissions regulations and investing in a circular economy to promote the adoption of renewable and green chemicals.
The Asia-Pacific region is expected to experience growth during the forecast period due to growing demand from the automotive and transportation, food and beverage and personal care sectors. Strengthening the automotive sector, rising crude oil prices, and increased environmental awareness are spurring industry growth.
The different products analyzed in the report include alcohols, biopolymers, polyhydroxyalkanoates, starch blends, polylactic acid, regenerated cellulose, platform chemicals, organic acids and others. The alcohol segment accounted for an important share of the market in 2021. Bioalcohol is increasingly used in the industrial, food and beverage, transport, industrial and pharmaceutical sectors.
End-user industries that use renewable chemicals include chemicals, agriculture, textiles, environment, transportation, food and beverage, packaging, biomedicine and others. The demand for renewable chemicals from the packaging sector is expected to increase during the forecast period. Growth in packaging waste and growing environmental concerns are factors that should spur growth in the segment. The growth of e-commerce platforms and food delivery platforms are factors that should provide growth opportunities in the coming years.
Highlights of the Renewable Chemicals Market Report
- The alcohol segment accounted for a significant share in 2021 due to the growing demand for bio-alcohols in the transport, personal care, energy and energy sectors
- The packaging segment is expected to experience significant growth during the forecast period due to consumer penchant for the use of sustainable packaging solutions and increased concerns regarding packaging waste
- Asia-Pacific accounted for a significant share of the market in 2021 due to increased application in the packaging and pharmaceutical sectors and rising crude oil prices in the region
- The global renewable chemicals market is highly competitive due to the existence of large industry players with a global presence including BASF, BioAmber, BioMCN, Braskem, Cobalt Technologies, Corbion Nv, DSM, DuPont Tate & Lyle Bio Products, Mitsubishi Chemical Corp and NatureWorks LLC
The publisher segmented the Renewable Chemicals market report by product, end use and region:
Renewable Chemicals, Product Outlook (Revenue – USD Billion, 2018 – 2030)
- Polyhydroxyalkanoates (PHA)
- Starch blends
- Polylactic Acid (PLA)
- Regenerated Cellulose
- Deck chemicals
- Organic acids
Renewable chemicals, end-use prospects (revenue – USD billions, 2018 – 2030)
- Food and beverages
Renewable chemicals, regional outlook (revenue – USD billions, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
Key topics covered:
2. Executive summary
3. Research methodology
4. Insights into the global Renewable Chemicals market
5. Global Renewable Chemicals Market, by Product
6. Global market for renewable chemicals, for end use
7. Global market for renewable chemicals, by geography
8. Competitive landscape
9. Company profiles
- Biomethanol Chemie Nederland BV
- Cobalt technologies
- Corbion Nv
- DuPont Tate & Lyle Bio products
- Metabolix Inc.
- Mitsubishi Chemical Corp
- Myriant Corporation
- NatureWorks LLC.
For more information on this report, please visit https://www.researchandmarkets.com/r/r3mts4
Renewable chemicals market