Global Renewable Chemicals Market to Be Worth US$125.7 Billion by 2025
The global Renewable Chemicals market is projected to reach US$125.7 billion by 2025, driven by rising concerns over the growing carbon footprint of chemicals right from production to its use in downstream applications.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Renewable Chemicals market. Report segmentation includes Product Type (Ethanol, Ketones, Bio Polymers, Platform Chemicals, Other Product Types); Feedstock (Biomass, Corn, Sugarcane, Algae, Other Feedstocks); End-Use (Automotive, Medical, Food & Beverage, Petrochemical, Textiles, Agriculture, Other End-Uses) ).
7 June 5:34 A.M., California/Marketwire/ - According to the new market research report, the global Renewable Chemicals market is projected to reach US$125.7 billion by 2025, driven by rising concerns over the growing carbon footprint of chemicals right from production to its use in downstream applications. Global warming and climate change are stepping up the urgency in migrating towards healthier, greener, and cleaner products. The many disadvantages of traditional petrochemicals driving interest in renewable chemicals include major role in contributing towards environmental pollution; resource limitations; and generation of toxic byproducts and effluents. As the circular economy becomes the new normal, renewable chemicals will become mainstream feedstock`s in production activities. The circular economy flaunts the potential to create over US$5. 6 trillion worth of new opportunities for eco-friendly technologies among which renewable chemicals stands strong. Ozone depleting use of chemicals such as CFCs are already being phased out as the focus shifts to biosphere integrity. The circular transition impacts all industries and the use of renewable chemicals will expand far and wide across the manufacturing space.
The renewable chemicals market stands to benefit from technology innovations such as development of new renewable chemical platforms; evolving supply chains to support demand for alternative feedstock`s; innovation in production processes; continuous scaling up of commercial production; and increased research and development interest in green chemistry. Demand for renewable chemicals in the polymers segment is growing rapidly primarily driven by growing applications of bio-polymers in the production of biodegradable and compostable plastics and in various consumer goods such as laptops and cell phones. Other noteworthy trends in the market include expanding role of renewable chemicals in consumer products as a result of the unprecedented popularity of organic and natural products; steadily growing market for bio-based chemicals and the promise it brings in cost reductions via economies of scale as manufacturers scale up production capacities to meet projected demand; focus on sustainable textile manufacturing and strong consumer demand for organic fibers and the ensuing adoption of renewable chemicals in the textile industry; biotechnological improvements in the production of bio-based succinic acid production; development of bio-isoprene to replace the use of traditional isoprene in tire and rubber production.
Key Competitors Covered in the Report
Archer Daniels Midland Company
DuPont Tate & Lyle Bio Products Company LLC
Evonik Industries AG
PureVision Technology Inc.
Rivertop Renewables Inc.
Royal DSM NV
Geographies Analyzed in the Report
Europe (France, Germany, Italy, UK, Spain, Russia, Rest of Europe)
Asia-Pacific (Australia, India, South Korea, Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, UAE, Rest of Middle East, Africa)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 10413. Among this pool, 1252 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 312 unique participations, a total of 141 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.