The global sales of Renewable Chemicals in 2021 was held at US$ 86.7 Billion and is predicted to reach US$ 262.9 Billion by the end of 2032. With 10.6%, the projected market growth during 2022 – 2032 is expected to be significantly higher than the historical growth.
Ethanol is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 12.5% during 2022 – 2032.
Renewable chemicals have the advantages of producing less waste and obviating the need for expensive remediation, hazardous waste disposal, and pipe end treatments. Renewable chemicals are also required to lessen carbon footprints due to the increase in greenhouse gas emissions.
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What Factors are Propelling Renewable Chemicals Demand?
The need for renewable chemicals is fueled by a number of causes. The industries will be forced to use renewable chemicals like ketones, ethanol, biopolymers, etc. in manufacturing as a result of the depletion of fossil fuels and the increase in greenhouse gas emissions.
The government’s limits on the use of fossil fuels through the imposition of pollution taxes are also a role in the rise in demand for renewable chemicals. The US government assessed different businesses US$ 24-US$ 39/tCO2e (tonnes of carbon dioxide equivalent) in 2020. Also, a number of producers have expanded their product ranges to include bio-ethanol in an effort to promote environmental friendliness.
Key Players
• Mitsubishi Chemical Corporation
• Genomatica
• Cobalt Technologies
• BASF SE
• Du Pont Tate and Lyle Bio Products
• Amyris, Incorporation
• Archer Daniels Midland Company
• Bio Amber Incorporation
• Braskem
• Cargill Incorporation
• Myriant Corporation
• Evonik Industries AG
• Praj Industries Ltd
This global Renewable Chemicals industry research analysis includes industry share, size, consumption, cost, revenue, CAGR, production, gross margin, and market influencing factors. This research is a complete numerical examination of a firm that provides data for generating market growth and success strategies. The study provides industry size, revenue, gross margin, price, and market share estimations, as well as cost structure and decision-making growth rates. It offers a comprehensive analysis of the market, covering data on several factors such as drivers, constraints, opportunities, and threats. This data can assist stakeholders in making informed decisions prior to investing.
Secondary research comprises an in-depth investigation of stock prices, retail transactions, and other relevant facts. Domestic and global politics, new buying patterns, composite economic predictions, technical breakthroughs, and the environmental implications of the Renewable Chemicals sectors are all thoroughly examined. Furthermore, it contains a specialized segmentation focusing on a number of categories, allowing for a comprehensive examination of any consumer goods. Similarly, the study estimates Renewable Chemicals market share based on existing and predicted market growth.
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This research gives extensive market knowledge with leading profiles in the Renewable Chemicals market. It contains data that has been verified using a limited number of research approaches and primary or secondary sources. Elements including drivers, share, size, market revenues, potential and problems, important players, domination nations, changing Renewable Chemicals market dynamics, economic instability, and other competitive features are thoroughly recognized by experts SWOT, PESTEL, primary and secondary research procedures, and different analytic procedures are used to develop the consumer study.
The thesis includes a wide range of themes, such as important product offers, industry history, important statistics, risk analysis, marketing and sales strategies, product growth, recent advancements and new product releases, innovation and progress, and a variety of Renewable Chemicals business practices.
Industry Segmentation
• By Product Type :
o Ethanol
o Ketones
o Biopolymers
o Platform Chemicals
o Other Product Types
• By Feedstocks :
o Biomass
o Corn
o Sugarcane
o Algae
o Other Feedstocks
• By End-Use :
o Automotive
o Medical
o Food and Beverages
o Petrochemicals
o Textiles
o Agriculture
o Other End-Uses
• By Region :
o North America
o Latin America
o Europe
o APAC
o MEA
