Renewable Chemicals Market Demand and Growth By major Key Players Archer-Daniels-Midland Company (ADM), Amyris Inc., BASF SE

Renewable Chemicals Market Outlook – Surge in End User Demand Augmenting Market Growth

Emerging technological breakthroughs, inclination of the populace towards eco-friendly products, and supportive government policy are fueling growth of the renewable chemicals market. Moreover, the growing demand for ethanol & methanol, green packaging materials, and consumer goods packaging materials is expected to witness tremendous growth during the forecast period. Abundant raw material, cheap labor cost, and increasing demand for renewable chemicals in China and India is expected to propel growth of the market for renewable chemicals. Moreover, tremendously escalating urbanization and industrialization in emerging economies of Asia Pacific are further expected to amplify demand for renewable chemicals across various flourishing end-use industries. Strict regulation by EU on the use of fossil fuels has compelled manufacturers and researchers to innovate and develop new technology, which can replace fossil fuel.

Download PDF Brochure @ https://www.coherentmarketinsights.com/insight/request-pdf/262

The key players in the market include Archer-Daniels-Midland Company (ADM), Amyris Inc., BASF SE, Bioamber Inc., Biomethanol Chemie Nederland B.V., Braskem, Cargill Inc., DSM, E. I. DU Pont DE Nemours & Company, Evonik Industries AG, Genomatica Inc., Metabolix, Inc., Myriant Corporation, Natureworks LLC, Novozymes A/S, OPX Biotechnologies, Solazyme Inc., Solvay, The Dow Chemical Com.

Renewable Chemicals Market Challenges – High Cost for Commercialization

The renewable chemicals market is very niche, with few numbers of players in the global market. Moreover, increasing consumer awareness about the environment is expected to sharply incline towards green and eco-friendly chemicals. To fulfill increasing demand for renewable chemicals, pilot projects have to be commercialized and players have to make significant investments in research and development to upgrade the existing production technology and develop new products. While the market offers highly lucrative growth opportunities, high capital investment in production of renewable chemicals as compared to other conventional chemicals and polymers, is expected to be a key challenge for market growth. Also, the viability of renewable chemicals in terms of matching performance of conventional chemicals is still to be conclusively proved, which dissuades end-use industries from adopting these chemicals. Increasing technological advancements and growing consumer awareness is expected to change the tide in the near future. Moreover, due to abundant petroleum reserves in Middle East and Latin America, the market for renewable chemicals in these regions is expected to experience least growth during the forecasted period.

Talk to Analyst @ https://www.coherentmarketinsights.com/insight/talk-to-analyst/262

Renewable Chemicals Market – Regulatory Scenario:

2009, Federal Legislation enthusiastic support for bio based products development and promotion.
As per The Biomass Research and Development Act of 2000, established the biomass research and development initiative to promote and develop bio based products, which consist of representatives from the white house, US Department of Agriculture (USDA) and US Department of Energy

Renewable chemicals Market Taxonomy

On the basis of product type, the global market is classified into:

Bio polymer
Alcohols
Ketones
Organic acids
Others
On the basis of applications, the global market is classified into:

Agriculture
Food & beverages packaging
Bio medical
Textiles
Others

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

This release was published on openPR.