FEATURED COMPANIES
- Amyris Inc.
- BASF SE.
- Braskem
- Cargill Inc
- DSM
- Evonik Industries AG
The scope of the publisher's recent study on the “Renewable Chemicals Market to 2028 - COVID-19 Impact and Global Analysis - by Product (Alcohols, Organic Acids, Ketones, Platform Chemicals, Biopolymers, Others); by Application (Food and Beverages, Agriculture, Textiles, Transportation, Chemical Intermediates, Packaging, Bio-Medical & Pharmaceuticals, Others),” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1, 76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. Renewable chemicals or bio-based chemicals are defined as those categories of chemicals, which are synthesized from renewable sources such as agricultural feedstock, agricultural waste, organic waste products, biomass, and microorganisms. Renewable chemicals are categorized as sustainable and environment-friendly chemicals which emits fewer carbon footprints as compared to traditional petro-based chemicals. Some of the most widely available renewable chemicals are lignin, carbohydrates, oils, plant extractives, hemicellulose, cellulose, starch, protein, and others. Such chemicals find application in diverse application bases such as food and beverage, agriculture, textiles, automotive, packaging and others.
Based on application, the renewable chemicals market is categorized into food and beverages, agriculture, textiles, transportation, chemical intermediates, packaging, bio-medical & pharmaceuticals and others. In 2021, the transportation segment is dominating the Renewable chemicals market. The biomass, wood chips, crop residues etc. are converted to renewable transportation fuels. The various types of bio-based alcohols like bio-butanol, bioethanol, and bio-methanol are used as fuel in jets. Bioethanol is the most widely used source of energy for transportation. The use of bioethanol is projected to increase significantly in coming years and remain high. This shift toward more bio-ethanol usage will provide more opportunities in future. Methane is another renewable chemical used as transportation fuel and is the major component of compressed natural gas. It is produced from biomass by a biochemical process called anaerobic digestion. Biodiesel is a renewable diesel fuel substitute produced by mixing any natural oil or fat with an alcohol (usually methanol). Different vegetable oils, animal fats, and recycled cooking greases can also be transformed into biodiesel.
The global renewable chemicals market is segmented into five main regions-north America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. In 2020, North America held the largest share of the global renewable chemicals market. The dominance of the renewable chemicals market in this region is primarily attributable to the presence of strong industrial base with prominent manufactures significantly contributing to market growth. High demand of renewable chemicals from applications such as food and beverages, agriculture, textiles, transportation, packaging, and other industries backed by significant growth in end-use industrial bases is stimulating the demand for renewable chemicals in regional market. The rise in investment in manufacturing sector along with growing focus over eco-friendly and sustainable solutions, provides lucrative opportunities for the growth of the renewable chemicals market in North America. Furthermore, favorable policies to promote the use of biobased and renewable chemicals over conventional petroleum-based chemicals is further expected to to create lucrative growth opportunities in the region.
The ongoing pandemic has drastically altered the status of the industrial sector and have negatively impacted the growth of the renewable chemicals market. The implementation of measures to combat the spread of the virus has aggravated the situation and have impacted the growth of several industrial sectors. Industries such as food and beverages, agriculture, textiles, transportation, packaging, pharmaceuticals have been impacted by the sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international boundaries. The significant decline in the growth of the several industrial sectors negatively impacted the demand for renewable chemicals in the global market. The disruptions in terms of sourcing of raw materials from suppliers as well as temporarily closures of manufacturing base due to indefinite lockdowns and temporary quarantines have impacted the growth of the market during pandemic period. Nevertheless, as the economies are planning to revive their operations, the demand for renewable chemicals is expected to rise globally. Although the focus over just in time production is another concerning factor hindering market growth. The expanding demand of renewable chemicals across food and beverages, agriculture, textiles, transportation, packaging, pharmaceuticals, and other industries along with significant investment by prominent manufacturers is, expected to drive the growth for renewable chemicals.
Reasons to Buy
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1, 76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. Renewable chemicals or bio-based chemicals are defined as those categories of chemicals, which are synthesized from renewable sources such as agricultural feedstock, agricultural waste, organic waste products, biomass, and microorganisms. Renewable chemicals are categorized as sustainable and environment-friendly chemicals which emits fewer carbon footprints as compared to traditional petro-based chemicals. Some of the most widely available renewable chemicals are lignin, carbohydrates, oils, plant extractives, hemicellulose, cellulose, starch, protein, and others. Such chemicals find application in diverse application bases such as food and beverage, agriculture, textiles, automotive, packaging and others.
Based on application, the renewable chemicals market is categorized into food and beverages, agriculture, textiles, transportation, chemical intermediates, packaging, bio-medical & pharmaceuticals and others. In 2021, the transportation segment is dominating the Renewable chemicals market. The biomass, wood chips, crop residues etc. are converted to renewable transportation fuels. The various types of bio-based alcohols like bio-butanol, bioethanol, and bio-methanol are used as fuel in jets. Bioethanol is the most widely used source of energy for transportation. The use of bioethanol is projected to increase significantly in coming years and remain high. This shift toward more bio-ethanol usage will provide more opportunities in future. Methane is another renewable chemical used as transportation fuel and is the major component of compressed natural gas. It is produced from biomass by a biochemical process called anaerobic digestion. Biodiesel is a renewable diesel fuel substitute produced by mixing any natural oil or fat with an alcohol (usually methanol). Different vegetable oils, animal fats, and recycled cooking greases can also be transformed into biodiesel.
The global renewable chemicals market is segmented into five main regions-north America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. In 2020, North America held the largest share of the global renewable chemicals market. The dominance of the renewable chemicals market in this region is primarily attributable to the presence of strong industrial base with prominent manufactures significantly contributing to market growth. High demand of renewable chemicals from applications such as food and beverages, agriculture, textiles, transportation, packaging, and other industries backed by significant growth in end-use industrial bases is stimulating the demand for renewable chemicals in regional market. The rise in investment in manufacturing sector along with growing focus over eco-friendly and sustainable solutions, provides lucrative opportunities for the growth of the renewable chemicals market in North America. Furthermore, favorable policies to promote the use of biobased and renewable chemicals over conventional petroleum-based chemicals is further expected to to create lucrative growth opportunities in the region.
Impact of the COVID-19 Pandemic on the Renewable Chemicals Market
The ongoing pandemic has drastically altered the status of the industrial sector and have negatively impacted the growth of the renewable chemicals market. The implementation of measures to combat the spread of the virus has aggravated the situation and have impacted the growth of several industrial sectors. Industries such as food and beverages, agriculture, textiles, transportation, packaging, pharmaceuticals have been impacted by the sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international boundaries. The significant decline in the growth of the several industrial sectors negatively impacted the demand for renewable chemicals in the global market. The disruptions in terms of sourcing of raw materials from suppliers as well as temporarily closures of manufacturing base due to indefinite lockdowns and temporary quarantines have impacted the growth of the market during pandemic period. Nevertheless, as the economies are planning to revive their operations, the demand for renewable chemicals is expected to rise globally. Although the focus over just in time production is another concerning factor hindering market growth. The expanding demand of renewable chemicals across food and beverages, agriculture, textiles, transportation, packaging, pharmaceuticals, and other industries along with significant investment by prominent manufacturers is, expected to drive the growth for renewable chemicals.
The Report Segments the Global Renewable Chemicals Market as Follows:
- By Product the Global Renewable Chemicals market is segmented into Acrylic, Alcohols, Organic Acids, Ketones, Platform Chemicals, Biopolymers, Others.
- By Application the Global Renewable Chemicals market is segmented into Food and Beverages, Agriculture, Textiles, Transportation, Chemical Intermediates, Packaging, Bio-Medical & Pharmaceuticals, Others.
Global Renewable Chemicals Market, by Geography
North America
- US
- Canada
- Mexico
Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
South America
- Brazil
- Argentina
- Rest of South America
Reasons to Buy
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global renewable chemicals market, thereby allowing players to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
Frequently Asked Questions about the Global Renewable Chemicals Market
What is the estimated value of the Global Renewable Chemicals Market?
What is the growth rate of the Global Renewable Chemicals Market?
What is the forecasted size of the Global Renewable Chemicals Market?
Who are the key companies in the Global Renewable Chemicals Market?
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FEATURED COMPANIES
- Amyris Inc.
- BASF SE.
- Braskem
- Cargill Inc
- DSM
- Evonik Industries AG
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Renewable Chemicals Market Landscape
5. Renewable Chemicals Market - Key Market Dynamics
6. Renewable Chemicals - Global Market Analysis
7. Renewable Chemicals Market Analysis - By Product
8. Global Renewable Chemicals Market Analysis - By Application
9. Renewable Chemicals Market - Geographic Analysis
10. Overview - Impact of COVID-19
11. Industry Landscape
12. Company Profiles
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A selection of companies mentioned in this report includes:
- Archer-Daniels-Midland Company (ADM)
- Cargill Inc
- DSM
- BASF SE.
- Amyris Inc.
- Evonik Industries AG
- Solvay
- The Dow Chemical Company.
- Genomatica, Inc.
- Braskem
Note: Product cover images may vary from those shown
