How bio-renewable chemicals are transforming the outlook of chemicals industry? Key Players- BASF SE, Solazyme, Myriant, BioAmber, DuPont..

The Bio-Renewable Chemicals market is predicted to vow high growth due to the increase in the thrust of pollution control in recent years. Increasing demand from applications including bio-plastic, bio-based solvents, bio-based cleaners, and detergents, others are expected to drive the growth of bio-renewable chemicals market.

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This sector has witnessed the amount of key innovations from major companies including BASF SE, Solazyme, Myriant, Elevance Renewable Sciences, Bio Amber, DuPont Industrial Biosciences (Genencor), Lanza Tech, Amyris, Zea Chem, and Gevo with an emphasis on both organic and inorganic growth strategies. The high potential emerging regions are the Asia Pacific and the Middle East regions with high growth in some of the key economies.

What are bio-renewable chemicals and what are their applications?

Bio renewable chemicals are sustainable energy sources because they give fewer carbon footprints compared to conventional Petro-based chemicals. Such bio-renewable chemicals or bio-based chemicals consist of a range of chemicals typically derived from renewable sources such as agricultural feedstock, agricultural waste, organic waste, biomass, and micro-organisms. Due to their various environmental advantages, they are widely used as a direct substitution for conventional petrochemicals.

The growing volatility in petroleum prices coupled with the worldwide depletion of oil resources is expected to be a major factor driving the global bio-renewable chemicals market throughout the assessment era.
Segmentation for better understanding of this market and its growth prospects
The global bio-renewable chemicals market is segmented on the basis of type and application. Based on type, it's segmented into glycerin, carboxylic acid, and carboxylic acid.
Glycerin was the largest segment in 2018 among the aforementioned categories and is expected to show similar trends throughout the evaluation period. Glycerin is one of the most commonly used forms, as the processing of biopolymers, biofuels, monomers, and other chemical intermediates is a flat-form chemical. Demand for succinic acid has risen as it is used as the main ingredient in the planting and pharmaceutical industries for pigment and coating.

By application, it's segregated into Bio-plastic, bio-based solvents, bio-based cleaners, and detergents, etc. Among all these applications, bio-plastic segment is accounted for the largest market share during the forecasting period because bio-plastic is majorly used as a packaging material and it emits very fewer greenhouse gasses.

Significant Factors Impacting Market Growth:

o Rise in the thrust of pollution control.
o Fluctuating prices of conventional sources of energy
o Rapidly depleting oil resources
Regional segmentation and analysis to understand growth patterns

Based on the region, the bio-renewable chemicals market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World.

During the forecast period, North America and Europe are expected to be the principal revenue generating pockets. The implementation of stringent regulations on the use of petroleum-based chemicals would contribute positively to the global market for bio-renewable chemicals. The Toxic Substances Control Act (TSCA) in the U.S. and REACH in Europe are some of the main laws.

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North America and Western Europe are traditional suppliers of chemicals like specialty chemicals, bulk chemicals, and so on. Major companies during this market are headquartered in North America and Western Europe. This area has witnessed the number of transformations from end-use industries regarding the production of chemicals and their respective applications. In designing the green alternatives in these areas, preference for bio-based feedstock has been instrumental. Some of the main economies in these regions include US, Germany, UK, France, Canada, Italy, Spain, and so on.

Government initiatives to produce biochemicals to help the growth of Bio-Renewable Chemicals Market

Asia Pacific and Middle East are expected to register substantial growth within the bio-renewable chemical market during the forecast period. The growing concern over the depletion of fossil fuel is expected to be a major factor driving the market for bio-renewable chemicals. In addition, growing government initiatives to produce biochemicals coupled with the region's easy availability of feedstock will further boost the demand for the product over the forecast period. Major countries within the Asia Pacific region include China, South Korea, Japan, India, Australia, and so on.

The Middle East is composed of the UAE, Saudi Arabia, Iran, Israel, Egypt, etc. With operations by major chemical giants in the region, Eastern Europe was controlled mainly by Russia and Turkey. Rest the world which includes South America and Africa has a strong potential for the demand for bio-renewable chemicals. Global corporations have made growing investments in these regions to strengthen their presence. Major economies in these regions for bio-renewable chemicals market include Brazil, South Africa, Nigeria, Argentina, Colombia, et al.

The report provides insights about activities of top companies includes BASF SE, Solazyme, Myriant, Elevance Renewable Sciences, BioAmber, DuPont Industrial Biosciences (Genencor), Lanza Tech, Amyris, ZeaChem, and Gevo.

Market Segmentation:

By Type:

o Glycerin
o Lactic Acid
o Succinic Acid
o Others

By Application:

o Bio-plastic
o Bio-based Solvents
o Bio-based Cleaners And Detergents
o Others

By Region:

North America
o By Country (US, Canada, Mexico)
o By Type
o By Application

Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Type
o By Application

Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
o By Application

Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Type
o By Application

Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Type
o By Application

Rest of the World
o By Region (South America, Africa)
o By Type
o By Application

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