Renewable Chemicals What Factors are Affecting Growth and Demand of Industry
Global renewable chemicals market was valued at USD 98.00 billion in 2021 and is expected to reach USD 224.71 billion by 2029, registering a CAGR of 10.93% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
The Global Renewable Chemicals Market report Gives an in-depth analysis on industry development patterns, drivers, restraints, structure, scope, various trends, opportunities, challenges, market risk, and factors , Renewable chemicals market is expected to grow at a rate of 10.9% for the forecast period of 2020 to 2027. The study also offers insightful and detailed information/data concerning ends users, new technologies, standardization, regulation, market projections and key Players operating in the Renewable Chemicals Market and much more. The Renewable Chemicals market is well segmented by the top manufacturer, end users, and their application with their respective data(Market Size & Forecast, Sales Revenue, Price, Gross Margin, Different Demand Market by Region, Main Consumer Profile, etc.).
Top Leading Players
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- BASF SE (Germany)
- Mitsubishi Chemical Holdings Corporation (Japan)
- DAIKIN (Japan)
- 3M (U.S.)
- Braskem (Brazil)
- Corbion N.V. (Netherlands)
- NatureWorks LLC (U.S.)
- Amyris (U.S.)
- OCI N.V. (Netherlands)
- Solvay (Belgium)
- DSM (Netherlands)
- Genomatica Inc., (U.S.)
- Cobalt Technology, LLC. (U.S.)
- Elevance (U.S.)
- Evonik Industries AG (Germany)
- DuPont (U.S.)
- Novamont S.p.A. (Italy)
- Novozymes (Denmark)
- AVERY DENNISON CORPORATION (U.S.)
- Mitsui Chemicals Inc., (Japan)
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Global Renewable Chemicals Market Split By Segments:
Global Renewable Chemicals Market, By Product Type (Alcohols, Ethanol, Methanol, Biopolymers, Polyhydroxy Alkanoates (PHA), Starch Blends, Polylactic Acid (PLA), Regenerated Cellulose, PBS, Bio-PET, Bio-PE, Ketones, Platform Chemicals, Organic Acids), Feedstock (Corn, Sugarcane, Biomass, Algae, Others), Application (Agriculture, Textiles, Environment, Transportation, Food and Beverage Packaging, Communication, Bio-Medical, Other) – Industry Trends and Forecast to 2029
Renewable chemicals, also known as "bio-based chemicals," are those derived from renewable resources such as agricultural feedstock, agricultural waste, organic waste products, biomass, and microorganisms. Renewable chemicals have emerged as potential substitutes for petroleum-based chemicals due to their lower carbon constituent and environmentally friendly characteristics. Some of the most promising biopolymers are polylactic acid (PLA) and polyhydroxyalkanoates, which can be produced from nontoxic renewable feedstock.
By considering definite base year and historic year, calculations in the Renewable Chemicals business report have been carried out which interprets the market performance by providing information about what the market definition, classifications, applications, and engagements are. Few of the chief insights of this report include; distinct analysis of the market drivers and restraints, major market players involved like Data Bridge Market Research industry, detailed analysis of the market segmentation and competitive analysis. The facts and figures described in the large scale Renewable Chemicals market report aids Data Bridge Market Research industry in taking sound decisions and planning advertising and sales strategy more successfully.
COVID-19 Impact on Renewable Chemicals Market
The recent outbreak of coronavirus had a negative impact on the renewable chemicals market. The impact was severe on the automotive and industrial sectors, as restrictions on international travel and regional and local movement prevent people and goods from freely socializing. The severe disruptions in various manufacturing and supply-chain operations due to the various precautionary lockdowns imposed by governments to curb the spread of disease further resulted in huge financial setbacks for the market. However, the overall impact on the global renewable chemical market is still difficult to forecast.
Recent Development
- In August 2020, TFL, a chemical company, introduced MAGNOPAL Pure A, an environmentally friendly, film-forming bio-polymer derived from vegetable biomass. It is not only intended to replace fossil fuel-based polymers, but it also provides interesting, cost-effective application features for a wide range of different leather articles.
- In April, 2021, the new venture Trillium Renewable Chemicals was founded with funding from Capricorn Partners in Belgium and technology from the nonprofit Southern Research. Capricorn's sustainable chemistry fund has awarded Trillium $8.5 million to scale up a Southern Research thermochemical process for converting sugars and glycerin into acrylonitrile and propylene glycol.
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