About Renewable Chemicals
Renewable chemicals are used for increasing the use of renewable resources rather than fossil fuels. It contains all the chemicals produced from renewable feedstock such as microorganisms, biomass and agricultural raw material. These chemicals are mainly available as ketones, alcohols, organic acids and biopolymers. It has a wide variety of applications such as food processing, housing, textiles, environment, transportation, hygiene, pharmaceutical, and other applications.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key players are targeting the innovations of the Solutions with better quality, better technical characteristics. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Renewable Chemicals market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Metabolix Inc. (United States), BioAmber (Canada), Genomatica (United States), Cobalt Technologies (United States), BASF (Germany), DuPont Tate & Lyle Bio Products (United States), Myriant Corporation (United States), BioMCN (The Netherlands), Corbion N.V. (The Netherlands) and NatureWorks LLC (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Mitsubishi Chemical Corporation (Japan) and Braskem (Brazil).
Segmentation Overview
AMA Research has segmented the market of Global Renewable Chemicals market by Type (Alcohols, Organic Acids, Ketones, Platform Chemicals, Biopolymers and Others (Bio-based 1,3-PDO, ECH, and 1,4-BDO)), Application (Transportation, Textiles, Food safety, Environment, Communication, Housing, Recreation, Health & Hygiene, Bio-Medical, Agriculture and Other Applications) and Region.
On the basis of geography, the market of Renewable Chemicals has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Content, the sub-segment i.e. Biomass (plant will boost the Renewable Chemicals market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Consumer Preference for Green and Natural Products
Market Growth Drivers:
High Performance & Cost-Effective Bio-Based Polymers, Growing Consumer Awareness and Fluctuations in the Prices of Petroleum Products
Challenges:
Complex Manufacturing Processes and Lack of Consumer Awareness in Developing Regions
Restraints:
High Processing Cost
Opportunities:
Increasing Applications of Renewable Chemicals in Various Chemicals and Government Initiatives and Support for Eco-Friendly Sources and Processes
Market Leaders and their expansionary development strategies
In April 2024, Neste and South Korean chemical company Lotte Chemical are teaming up to make chemicals and plastics more sustainable. The companies embark on a strategic collaboration to replace fossil resources with renewable raw materials in the manufacturing of chemicals and plastics. This will enable products and applications with a lower carbon footprint compared to those produced from fossil resources.
In June 2023, Mitsui Chemicals, Inc announced its formulation of the Carbon Neutral Vision for the Osaka Works, part of a broader effort to achieve carbon neutrality throughout the Mitsui Chemicals Group. Aims under this vision are to use the Osaka Works – one of the company’s mainstay production sites, located in Takaishi, Osaka – as a model for implementing a package of technologies that can feasibly be introduced in 2030 or thereabouts. Mitsui Chemicals intends to work on translating this vision into reality going forward.
Key Target Audience
Renewable Chemicals Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.