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Renewable Chemicals Market projected to grow at a CAGR of 8.2% between 2017 and 2023

Renewable Chemicals Market projected to grow at a CAGR of 8.2%

The report published by Knowledge Sourcing Intelligence titled “Renewable Chemicals Market - Forecast From 2018 to 2023” studies the various factors affecting the demand for renewable chemicals across the globe. The report has been segmented by product type (bio-based chemicals, platform chemicals, biopolymers), application (transportation, food and beverage packaging, agriculture, biomedical, textiles, others), and geography, covering five regions namely North America, South America, Europe, Middle East and Africa and Asia Pacific, and some of the major economies in each of these regions.

Growing environmental sustainability concerns is one of the major factors for the growth of the renewable chemicals market. Stringent environmental regulations coupled with favorable government policies and initiatives to boost the adoption of renewable chemicals are further escalating the demand for renewable chemicals across various end-use industries. However, high processing cost and complex manufacturing processes are hindering the growth of the renewable chemicals market.

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Demand for bio-based renewable chemicals on the rise

By product type, renewable chemicals market is segmented as bio-based chemicals, platform chemicals, and biopolymers. The future of bio-based chemicals seems bright during the projected period owing to technological advancements and rising investments in R&D by chemical manufacturers to develop sustainable chemicals. High demand for organic and sustainable ingredients in food and cosmetics is also poised to spur the growth of bio-based renewable chemicals market till the end of the forecast period.

Europe holds significant market share

Geographically, renewable chemicals market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Europe accounted for a significant market share in 2018 owing to the strict environmental regulations such as REACH and European Commission (EC) regulations towards petrochemicals. High investments in initiatives to promote the penetration of renewable chemicals in the region are also contributing to the growth of the renewable chemicals market.

This report also includes a study of strategies and product portfolios of some of the leading companies in the renewable chemicals market. It consists of company profiles of the leading companies such as Myriant Corporation, BioMCN, DuPont Tate & Lyle Bio Products, Corbion, Biome Technologies plc, NatureWorks LLC, Piedmont Chemical Industries, Reverdia, Braskem, and Synvina.

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About Us:
Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.

Contact:
Knowledge Sourcing Intelligence LLP
2nd Floor, D-77, Sector 63
Noida, U.P. – 201301
India
E: sales@knowledge-sourcing.com | P: +1-866-714-4587

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