Global Renewable Chemicals Market 2025: Growing Popularity of Biopolymers & PLAtform Chemicals
Market Opportunity & Drivers: Abundant and Low-Cost Feedstock, Technological Innovations, Consumer Acceptance for Eco-Friendly Products, Government Support for Eco-Friendly Sources & Processes, Chemical Conversion Can Improve Yields,
Global Renewable Chemicals Market to reach USD 146.8 billion by 2025.
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Global Renewable Chemicals Market valued approximately USD 61.5 billion in 2017 is anticipated to grow with a healthy growth rate of more than 11.5% over the forecast period 2018-2025. Renewable chemicals are enhancing the deployment of renewable sources of energy due to rising environmental concerns. Rising environmental awareness among people is raising the adoption of bio-based products produced from renewable feedstock such as biomass, agricultural raw materials, and microorganisms.
Cost-effectiveness and easy availability of feedstock required for producing renewable chemicals and government initiatives to promote sustainable forms of energy resources are the key drivers of the renewable chemicals market. Further, chemicals can be easily converted into the products and the conversion is efficient in improving the production capacity that offers lucrative opportunities to the marketers. However, fluctuating prices of crude oil across the world is expected to hinder the market growth during the forecast period.
On the basis of segmentation, the Renewable Chemicals market is segmented into product type and application. The product type segment is classified into bio-based chemicals, platform chemicals, and biopolymers. The application segment is classified into agriculture, fertilizers, environment, industrial, textiles, housing, food-packaging and beverage bottling, recreation, transportation, health and hygiene and bio-medicals. The product type segment is anticipated to dominate the Renewable Chemicals market considering the forthcoming years and the global scenario.
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The regional analysis of Global Renewable Chemicals Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and the Rest of the World. North America is the fastest-growing region across the world in terms of market share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to be the dominating region over the forecast period 2018-2025.
The leading market players mainly include-
Biome Technologies PLC
Mitsubishi Chemical Corp.
Cobalt Technologies Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Food-Packaging and Beverage Bottling
Health and Hygiene
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