Renewable Chemicals Market Overview 2018, Key Trends, Driving Factors, Growth Opportunities and Industry Analysis Growth 2021

Segmentation

The Global Renewable Chemicals Market has been segmented based on Types and Applications. By Types, the market has been segmented into Alcohols, Organic Acids, Ketones, Platform Chemicals, Polymers, and Others. By Applications, the market has been segmented into Industrial, Transportation, Food Packaging & Beverage Bottling, Bio-Medical, Fertilizers, Agriculture, Textiles, Environment, Housing, Recreation and Health & Hygiene.

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Regional Analysis

The key markets of the Global Renewable Chemicals Market include North America, Europe, Asia-Pacific and the Middle East & Africa. The markets in North America and Europe are stable due to the high adoption of novel green products in the regions. The Asia-Pacific market for Renewable Chemicals is projected to expand rapidly due to favorable government policies and the availability of cheap labor in the region. The market in the Middle East & Africa region is expected to exhibit comparatively slower growth due to the abundance of fossil fuel reserves in the region.

Competitive Landscape

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.

Industry Updates

In June 2018, the US Senate passed a bill which mandates funding for energy title programs. The energy title would benefit renewable chemicals manufacturers and help rural farms, and businesses secure funds to adopt renewable energy technologies and generate economic opportunities.

In July 2018, ThyssenKrupp acquired a contract from an Australian company, Hydrogen Utility to perform a feasibility study for a new green hydrogen project. A commercial plant will be set up for the same purpose, and it will be the first ever plant to produce a carbon dioxide-free ammonia from renewable resources.

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