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Global Renewable Chemicals Market – Industry Trends and Forecast to 2029

  • Chemical and Materials
  • Upcoming Report
  • May 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

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 Market

Market Analysis and Size

The global renewable chemicals market is expected to grow significantly over the forecast period. This is due to the benefits of bio-based chemicals, such as their lower environmental footprint compared to traditional petrochemicals and rising consumer demand for products derived from renewable resources. In addition, the rapid transition to bio-economy and renewable feedstocks to produce low-carbon alternatives for industries such as chemical will drive market outlook.

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.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

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)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Market Players Covered

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)

Market Opportunities

  • Growing awareness of the need to reduce carbon footprints
  • increased focus towards new technology

Market Definition

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.

Renewable Chemicals Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Stringent Regulations associated with Environment Safety

There are various strict regulations and government initiatives to improve the environment, due to which the use of renewable chemicals is increasing dramatically in almost every country. Brazil, for example, has been experimenting with programs aimed at ethanol made from sugar cane and biodiesel in the field of renewable fuel. In this regard, approximately 45 percent of Brazil's energy and 18 percent of its fuels are already renewable. The Air Pollution Control Act, on the other hand, is the main piece of air pollution legislation in Japan. The government has set a target of 26% reduction in greenhouse gas (GHG) emissions by 2030. (25.4 percent compared to 2005). Such stringent environmental regulations and initiatives will directly impact the growth of the renewable chemicals market.

  • High Demand for the Renewable Chemicals

The rising demand for ethanol and methanol, green packaging materials, and consumer goods packaging materials is expected to drive market growth over the forecast period. There is a high demand for these market chemicals because of the consistent production volumes consumed in various global locations.

Furthermore, the factors such as the cheap labor cost, abundant raw material and cheap and increasing demand for renewable chemicals in China and India will further propel the growth rate of renewable chemicals market. Additionally, the rapid urbanization and industrialization will also drive market value growth.

Opportunities

  • Focus Towards Technology and Growing Awareness

Furthermore, various manufacturers and researchers are focusing on new technology that may replace fossil fuels, which extend profitable opportunities to the market players in 2022 to 2029. Additionally, the growing awareness of the need to reduce carbon footprints to deal with issues such as landfills and global warming and rising consumer preferences for green and natural products will further expand the future growth of the renewable chemicals market.

Restraints/Challenges

  • Huge Capital Requirement

The higher upfront cost of construction and technology investment may prevent the growth and implementation of renewable chemicals, particularly in areas where potential exists but investors are lacking. There are many regions where higher construction costs cause institutions to view renewable chemical projects as risky, resulting in a negative attitude toward renewables that could impact thousands of lives. The setbacks and unintended consequences may stymie the growth of the renewable chemicals market.

  • High Competition

There are startups and young companies willing to take on challenges and successfully implement renewable chemical projects; however, the existing market players and their market influence make it extremely difficult to overcome the challenges imposed by existing or conventional energy sources. Such technical limitations and development obstacles may challenge the renewable chemicals market growth rate over the forecast period.

This renewable chemicals market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the renewable chemicals market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

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.

Global Renewable Chemicals Market Scope

The renewable chemicals market is segmented on the basis of product type, feedstock and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

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

Renewable Chemicals Market Regional Analysis/Insights

The renewable chemicals market is analyzed and market size insights and trends are provided by country, product type, feedstock and application as referenced above.

The countries covered in the renewable chemicals market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe dominates the market in terms of market share and revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the due to the presence of stringent regulations and favorable government regulations within the region within the region.

On the other hand, Asia-Pacific is estimated to show lucrative growth over the forecast period of 2022-2029, due to the growing concerns regarding the environment and the rising chemical demand in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Renewable Chemicals Market Share Analysis

The renewable chemicals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to renewable chemicals market.

Some of the major players operating in the renewable chemicals market are

  • 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)

 Research Methodology: Global Renewable Chemicals Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

Global Renewable Chemicals Market is expected to show a value of USD 224.71 billion by 2029.
The market is estimated to register a CAGR of 10.93% within the forecast period.
On the basis of application, the Renewable Chemicals Market is segmented into Agriculture, Textiles, Environment, Transportation, Food and Beverage Packaging, Communication, Bio-Medical, Other.
The major players operating in the Renewable Chemicals Market are 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).