Bio-renewable Chemicals Market 2017 - 2025
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Latest Update "Bio-renewable Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025" with Industries Survey | Global Current Growth and Future.
Traditionally, the chemical industry has been dependent on inexpensive, petroleum-based carbon feedstock for the production of a small collection of platform chemicals that lead to the manufacture of a large variety of chemical products. However, of late, implementation of government regulations on the use of toxic chemicals and rise in impetus on environmentally-friendly products are driving the need to explore alternative renewable sources of carbon. This has brought about a shift in the chemical industry to manufacture chemicals from renewable carbon sources rather than non-renewable carbon sources. Additionally, insufficiency of non-renewable resources draws attention of stakeholders toward bio-renewable chemicals.
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The price of fuel related products is invariably dependent on the demand for fossil fuels; hence, increase in demand for bio-renewable chemicals is anticipated to lower the reliance on demand for fossil fuel. For instance, increase in demand for polylactic acid (PLA), bioethylene, and polyhydroxyalkanoate (PHA) is estimated to lower the demand for fossil fuels during the projected period. Low availability of raw materials required for the production of bio-renewable chemicals may hamper the market. The bio-renewable chemicals market is also facing challenges in terms of using cost-effective raw materials for the various generic applications. However, governments and private organizations are offering reimbursements to promote the production of raw materials.
In terms of product, the global bio-renewable chemicals market can be segmented into glycerin, lactic acid, succinic acid, and other chemical products. The glycerin segment accounted for the major share of the market in 2016 owing to its increasing demand in pharmaceutical and personal care industries. Demand for succinic acid is also increasing, as it is used as a main ingredient for pigment and coating in construction and pharmaceutical industries.
Based on end-user industry, the bio-renewable chemicals market can be divided into industrial and domestic cleaners, paints & coatings, printing inks, pharmaceutical, and personal care products. Bio-renewable chemicals are used in these industries for applications such as bio-plastics, bio-solvents, and bio-cleaners & detergents. Bio-plastics are largely used as packaging materials, as they emit less number of greenhouse gasses (GHGs). Therefore, demand for bio-plastics has been rising across the globe, particularly in the U.S. and Europe.
In terms of geography, the market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is projected to be the fastest-growing and largest region in terms of production and consumption of bio-renewable chemicals, respectively, due to the increase in government initiatives and focus on consumption of renewable chemicals. Some of the programs that regulate the production and usage of chemicals in countries in North America are ‘federal bio preferred and toxic substitute program’ in the U.S. and ‘toxic chemical list and alternatives initiatives’ in Canada. Several countries in Europe and the Middle East are also focusing on environmental issues and implementation of related environmental regulations on chemical manufacturing.
Key players operating in the bio-renewable chemicals market include BASF SE, Solazyme, Myriant, Elevance Renewable Sciences, BioAmber, DuPont Industrial Biosciences (Genencor), Lanza Tech, Amyris, ZeaChem, and Gevo.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
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Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
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