Renewable Chemicals Market (By Feedstock: Algae, Corn, Biomass, Sugarcane, Others; By Product: Ethanol, Ketones, Platform Chemicals, Methanol, Bio-Polymers, Glycerol, Organic Acids, Others; By End Use: Textiles, Agriculture, Environment, Communication, Transportation, Food & beverage packaging, Bio-medical, Other) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027

Acumen Research and Consulting estimates that global Renewable Chemicals market is expected to reach the market value of around US$ 90 Bn by 2027 and is anticipated to grow at a CAGR of around 9.8% in terms of revenue during the forecast period 2020 – 2027.

Chemicals from crops, i.e. food feedstuff, biomass, food waste, organic waste materials, and micro-organisms are green or bio-based chemicals.

Renewable chemicals are considered sustainable sources of carbon since, compared to conventional petro-based chemicals and also they offer less carbon footprints. Two of the most widely known green chemicals are monomeric (carbohydrates, plant extracts, amino acids) and polymeric (linenine, cellulose, hemicellulose). Such products are commonly used to supplement traditional petrochemicals.

The report provides analysis of global Renewable Chemicals market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.

Market Insights

Rising consumer awareness and increasing environmental issues by using renewable chemicals are major growth contributors for target market. Renewable chemicals demand has also been boosted in recent years by strict rules concerning environment related to the processing and removal of petrochemicals by regulatory bodies including EPA, REACH and the European Commission. Volatile crude oil and high finished petrochemicals rates are expected to accelerate demand growth. Increased commercial and industrial preference for renewable resources in the manufacture of finished products such as medicinal products, pharmaceuticals, food additives and plastics should also complement the demand for renewable chemicals. Global chemical producers rely on using natural products to produce specific chemicals to minimize their reliance on the energy of fossil fuels. Specific state and national governments have placed stringent controls on the use and storage of petrochemicals in the mitigation of dangerous human and environmental impacts. The long term growth of renewable chemicals on the product market can be hindered by high processing costs and complex production processes. In contrast with their conventional materials, certain green alternatives to existing petrochemicals have been exceptionally strong. Lower purchasing power, coupled with lack of consumer knowledge of these chemicals, may also hinder renewable chemicals' entry into these areas over the next few years, especially in emerging markets in Asia Pacific and Africa.

Regional Stance

North America is anticipated to grow at the significant CAGR in terms of production and use of biorenewable chemicals due to policies and the emphasis on the use of sustainable chemicals. The 'Federal Bio Recommended and Toxic Substitute Program' in the US, 'toxic drug register and substitute measures' in Canada form part of the schemes that control the production and usage of chemicals in North American countries. Several European and Middle Eastern countries are also focused on environmental issues and the application of associated chemicals environmental regulations.

Report coverage

The market research study on “Renewable Chemicals Market (Renewable Chemicals Market By Feedstock: Algae, Corn, Biomass, Sugarcane, Others; Renewable Chemicals Market By Product: Ethanol, Ketones, Platform Chemicals, Methanol, Bio-Polymers, Glycerol, Organic Acids, Others; Renewable Chemicals Market By End Use: Textiles, Agriculture, Environment, Communication, Transportation, Food & beverage packaging, Bio-medical, Other) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Renewable Chemicals market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Renewable Chemicals market size, and segment markets by feedstock, product, application, and geography along with the information on companies operating in the market. The Renewable Chemicals market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.  

The global Renewable Chemicals market is segmented as below:

Market Segmentation

Renewable Chemicals Market By Feedstock

Algae

Corn

Biomass

Sugarcane

Others

Renewable Chemicals Market By Product

Ethanol

Ketones

Platform Chemicals

Methanol

Bio-Polymers

Glycerol

Organic Acids

Others

Renewable Chemicals Market By End Use

Textiles

Agriculture

Environment

Communication

Transportation

Food & beverage packaging

Bio-medical

Other

Renewable Chemicals Market By Geography

North America

• U.S.
• Canada
•  

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Mexico
• Brazil
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of MEA

Key Players and Market Situation

Participants include major global players BASF SE, Archer-Daniels-Midland Company, Bioamber Inc., Amyris Inc., Biomethanol Chemie Nederland B.V., Cargill Inc., Braskem, E. I. DU Pont DE Nemours & Company, DSM, and Others.