Renewable Chemicals Market Industry Analysis 2022 Size, Share, CAGR 10.4%, Trends, Growth Statistics, Key Players and Forecast 2029

Renewable Chemicals Market Overview:

The global renewable chemicals market is expected to grow significantly over the forecast period. This is due to the benefits of bio-based chemicals, such as their lower environmental footprint compared to traditional petrochemicals and rising consumer demand for products derived from renewable resources. In addition, the rapid transition to bio-economy and renewable feedstocks to produce low-carbon alternatives for industries such as chemical will drive market outlook.

The global Renewable Chemicals market size is predicted to reach USD 144.16 billion by 2029 from USD 60.30 billion in 2020, and exhibit a CAGR 10.4% during the forecast period 2022-2029.

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Renewable Chemicals Market Key Players

The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are BASF SE, Genomatica Inc., Biome Technologies plc, Cobalt Technologies, Archer-Daniels-Midland Company, Metabolix, Inc., Mitsubishi Chemical Corporation, Amyris Inc, Cargill Inc and Others

Recent Development

In July 2020, Praj Industries introduced a new Bio-Prism portfolio that produces renewable chemicals and materials. The portfolio of Praj Industry already includes Bio-Industrial products. This new addition to the existing portfolio will further help in optimizing its revenue.
In April 2021, Du Pont announced that they will focus more on sustainability and try to reduce carbon footprint and improve operations, thereby generating lesser waste and higher energy efficiency.
In October 2021, Mitsubishi Chemical Holdings, established in Japan, seeks to invest US$ 875 Mn by 2030. The funding will be mainly utilized to install solar energy and construct a plastic business that recycles used vegetable oils. By 2050, the corporation aspires to achieve a net-zero in greenhouse gas emissions.
In September 2021, around 49.5% of the Vattenfall wind farm, Holland Kust Zuid was purchased by BASF SE. The wind farm has already started construction in July 2021 in the Dutch North Sea. This subsidy-free offshore wind farm is scheduled to begin its operation in 2023. This is BASF's first huge investment in the field of renewable energy.
In November 2021, Lummus Technology has signed an MoU with Braskem Netherlands B.V., which is a subsidiary of Braskem, the world's largest biopolymer manufacturer. The MOU is targeted to the license of Braskem's green ethylene technology for two of the ethanol to ethylene conversion projects in development in Asia and North America, indicating that the technology has a worldwide audience.

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Renewable Chemicals Market Segmentation:

Renewable Chemicals Market by Product Type, 2020-2029, (USD Million) (Kilo Tons)

Alcohols
Biopolymers
Organic Acids
Platform Chemicals

Renewable Chemicals Market by Application, 2020-2029, (USD Million) (Kilo Tons)

Food Processing
Agriculture
Textiles
Transportation
Environment
Bio-Medical
Others

Growth Factors:

Increasing demand from the Renewable Chemicals industries
The growing use of Renewable Chemicals in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Renewable Chemicals Market

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Renewable Chemicals Market Regional Analysis

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering

North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Key Renewable Chemicals Market Trends

- The report identifies, determines, and forecasts the Global Renewable Chemicals Market segments based on their type, sub-type, technology used, applications, end-users, and regions.

- Industry to Industry Holds Largest Share in the Renewable Chemicals Market

- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.

- Demand from Regional / geographical is expected to drive the Growth

- Rising Adoption of Market Segments in the Renewable Chemicals Growth

- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Renewable Chemicals Market.

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Frequently Asked Questions:

How much is the current worth of the Renewable Chemicals Market?
The global Renewable Chemicals Market is worth more than USD 144.16 billion at present.
What is the sales forecast for Renewable Chemicals Market?
What was the last 5 year's market CAGR?
What is a key trend shaping the growth of the market for Renewable Chemicals Market?

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