Global Bio Renewable Chemicals Market
Global Bio Renewable Chemicals Market was valued at US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of XX% during the forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Global Bio Renewable Chemicals Market Dynamics:
The factor drive the market growth is increasing demand for fossil fuels leads to an increase in the price of fuel-related products and hence, to decrease this dependency, the demand for bio-renewable chemicals is increasing. For instance, the rise in demand for polylactic acid (PLA), ethylene, and polyhydroxyalkanoate (PHA) would depreciate the demand for fossil fuels over the long run.
The global market for bio-renewable chemicals is hampered due to the unavailability or scarcity of raw materials used in the production of renewable chemicals. Furthermore, governments and private organizations are granting reimbursements to promote the production of raw materials.
The bio-renewable chemical is a concept of green chemistry, which uses a natural renewable energy source to produce certain chemicals. Now the companies and governments around the world are stressing about environmentally friendly business. In addition to that, scarcity of non-renewable resources also attracts stakeholders towards the bio-renewable chemical market.
The report gives an overall view of the global bio-renewable chemical market. The market is facing challenges because of the unavailability of raw materials like corn, wheat, sugar, etc., which are used in the production of renewable chemicals. These factors are strategically allocated within the report and more importance is given towards the commercialization & environmental applications, and also the report deals with the impact challenges on the manufactures. The global bio-renewable chemical market is also analyzed on the basis of Porter’s five force model. The suppliers’ bargaining power is low, as the types of equipment and chemicals used are highly fragmented. The increasing number of new entrants is astounding due to limited barriers and very low capital requirements.
Global Bio Renewable Chemicals Market Segment Analysis:
Based on product type, the glycerin segment held the largest market share of the market in 2019 on account of its growing demand in the pharmaceutical and personal care industries. Response for succinic acid is also increasing, as it is used as the main ingredient for pigment and coating in construction and pharmaceutical industries.
Global Bio Renewable Chemicals Market Regional Insights:
Based on the regions, North America holds the largest market share. On account of Initiatives have been taken by countries for the production and usage of chemicals. For instance, the USA’s “federal bio-preferred and toxic substitute program”, and Canada & California’s “toxic chemical list and alternatives initiatives” are few a programs that regulate the production and usage of chemicals in the North American countries. These programs make the North American market favorable towards using bio-renewable chemical products. Additionally, many European Governments are also aiming at environmental issues and implementing associated environmental regulations for chemical manufacturing. Moreover, Glycerin and Lactic acids are frequently used in the Middle East market as these chemicals are the main ingredients for the production of bio-diesels.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global bio-renewable chemicals market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence.
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Scope of the Global Bio-Renewable Chemicals Market: Inquire before buying
Global Bio Renewable Chemicals Market, By Types of Platform Chemicals
• Glycerin
• Lactic Acid
• Succinic Acid
• Others
Global Bio Renewable Chemicals Market, By Applications
• Bio-plastic
• Bio-based Solvents
• Bio-based cleaners and detergents
• Others
Global Bio Renewable Chemicals Market, By Region
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa
Key Players Operating in the Global Bio Renewable Chemicals Market:
- BASF
• Solazyme
• Myriant
• Elevance Renewable Sciences
• BioAmber
• DuPont Biosciences (Genencor)
• Lanza Tech
• Amyris
• ZeaChem
• Gevo
• Evonik Indystries
• Lanzatech
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