Market Research Future Published Study Research Report on Renewable Chemicals Market Research Report – Global Forecast till 2025
Global Renewable Chemicals Market Poised to Exhibit Significant Growth Driven by Focus on Sustainability
Industry/ Innovation/ Related News:
May 10, 2018 – The US DOE (Department of Energy) announced the funding for USD 3Mn. For advanced biofuels, bioenergy, and biobased products available through the BRDI (Biomass Research and Development Initiative).
May 18, 2018 – Sandia National Laboratories (USA), one of three National Nuclear Security Administration research and development laboratories published the study of a new technology based on bioengineered bacteria that they have developed. The study primarily refers to these bacteria could economically be feasible to produce all three from renewable plant sources.
May 25, 2018 – The BIO (Biotechnology Innovation Organization), the world’s largest trade association representing biotechnology companies announced Congress on Industrial Biotechnology programming information for renewable chemicals at the 2018 BIO World.
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Renewable Chemicals Market Overview:
Renewable Chemicals are bio-based chemicals derived predominately from plants, e.g., alcohols derived from grain and wood, among others. These chemicals can replace fossil raw materials in the chemical industry and are used in the production of renewable solvents and renewable plastics. Renewable Chemicals present major opportunity to commercialize industrial biotechnology.
While biofuels have garnered a lot of prominence among the public, press and policymakers, renewable chemicals with lower capital costs, offer potentially higher returns. Hence, companies are increasingly focusing on specialty chemicals as an entry point to build the bio-based economy. These factors commutatively drive the market growth of the market.
Acknowledging the kind of traction gained by this market, Market Research Future (MRFR) recently published a study report. According to the report, continuing with the same trends, the Global Renewable Chemicals market is projected to grow exponentially by 2025 registering a decent CAGR during 2015 to 2025. The growth will be attributed to increased absorption of Renewable Chemicals by the prominent end-use industries.
Governments are increasingly initiating programs to encourage setting up of renewable chemicals plants, to save environments as well as to help dispose of agricultural waste in a carbon-neutral manner to help tackle growing pollution concerns. Moreover, factors supporting the market growth include the availability of low-cost feedstock and the increasing awareness about eco-friendly products
Evidently, technological innovations, government support, along with the wide uptake of eco-friendly products among consumers and growing popularity of Renewable Chemicals, boost the market growth. On the other hand, a high cost of renewable chemicals is one of the key factors impeding the market growth.
Renewable Chemicals Market Key Players:
The global renewable chemicals market is highly competitive with the presence of a few market players. The key players operating in the market include Archer-Daniels-Midland Company, BASF, Biomethanol Chemie Nederland, Cargill, E. I. DU PONT, Evonik industries, Amyris Inc, Bioamber, Braskem, DSM, and others.
Renewable Chemicals Market Regional Analysis:
Globally, North America accounted for the leading market for Renewable Chemicals, in 2018, possessing a substantial market share in the region is estimated to register fabulous CAGR during the review period. Attributing to the growing industries like Food Packaging & Beverage Bottling, Transportation, Fertilizers, Bio-Medical, Agriculture, and the extensive utilization of Renewable Chemicals in textile predominantly drive the regional market growth. Developed regions such as Latin America and North America are estimated to witness significant growth. The U.S. backed by the greater penetration of end-user industries in the country, accounts for the major contributor to the market growth.
The Asia Pacific accounted for the second largest market for Renewable Chemicals, in 2018. Factors such as rapid industrialization and the presence of numerous producers coupled with the availability of cost-comprehensive labor-force and growing exports substantiate the regional market growth. Attributing to the surging demand for the renewable chemicals due to the growing industrial investments and improving standard of living in countries such as India, China, and Japan account for the major growth contributors for the market.
The growth of the third largest market for the renewable chemicals, Europe, is supported by the strict regulatory framework and high rate of technology adoption. Owing to the major growth contributing countries such as Germany, UK, and Russia, Europe region is expected to register a substantial CAGR over the forecast period.
The Middle East & Africa and Latin America, regions are estimated to witness a modest growth during the forecast period. In 2018, attributing to the increasing use of bio-medicals, UAE accounted for the largest market share and is projected to remain dominant in the MEA market over the forecast period.
Renewable Chemicals Market Table Of Contents to be Continue……,
Browse key industry insights spread across 147 pages with 47 market data tables & 12 figures & charts from the report, “Renewable Chemicals Market Information by Feedstock (Corn, Sugarcane, Biomass, Algae), Product (Ethanol, Methanol, Ketones, Glycerol, Organic Acids, Bio-Polymers, Platform Chemicals), End-Use Industry (Petrochemical, Food & Beverage, Automotive, Chemical, Agricultural, Packaging, Textile, Medical) and Region (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) – Growth Potential, Price Trends, Competitive Market Share & Forecast, 2025” in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/renewable-chemicals-market-1047
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