Press release
Renewable Chemicals Market Forecasted to Reach US$ 296.71 Billion by 2030, Sustaining a 11.4% Compound Annual Growth Rate from 2022 to 2030
The renewable chemicals market size is projected to be valued at USD 117.86 billion in 2021 and is expected to rise to USD 296.71 billion by 2030. The market is expected to register a CAGR of 11.4% during the forecast period from 2022 to 2030.๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/industry-analysis/renewable-chemicals-market/request-for-sample
๐๐๐ซ๐ข๐จ๐ฎ๐ฌ ๐๐๐๐ญ๐จ๐ซ๐ฌ ๐ฉ๐ซ๐จ๐ฉ๐๐ฅ๐ฅ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐๐ฆ๐๐ง๐ ๐๐จ๐ซ ๐ซ๐๐ง๐๐ฐ๐๐๐ฅ๐ ๐๐ก๐๐ฆ๐ข๐๐๐ฅ๐ฌ ๐ข๐ง๐๐ฅ๐ฎ๐๐:
โข The renewable chemicals industry is being driven by population increase, industrialization, and urbanization.
โข Economic growth in emerging countries, increased demand for autos, and rising environmental concerns are all likely to create new growth prospects in the future years.
โข The automotive and transportation industries are expected to employ more chemicals, such as bio-alcohol, during the projected period.
๐๐ก๐๐ญ ๐๐ซ๐ ๐๐๐ง๐๐ฐ๐๐๐ฅ๐ ๐๐ก๐๐ฆ๐ข๐๐๐ฅ๐ฌ?
Renewable biomass sources, such as plants, algae, or waste products, are the source of renewable chemicals, sometimes referred to as bio-based chemicals or green chemicals. These substances are becoming more well-known because of their capacity to lessen greenhouse gas emissions, lessen dependency on fossil fuels, and promote sustainable development. Renewable chemicals gradually replace chemicals generated from fossil fuels. They can frequently be exact replacements or, in certain situations, new and improved versions of the compounds they replace.
๐๐จ๐ฉ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ:
Because there are so many companies in the industry, it is expected to be both competitive and fragmented.
๐๐จ๐ฆ๐ ๐จ๐ ๐ญ๐ก๐ ๐ฅ๐๐๐๐ข๐ง๐ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐ซ๐๐ง๐๐ฐ๐๐๐ฅ๐ ๐๐ก๐๐ฆ๐ข๐๐๐ฅ๐ฌ ๐ฆ๐๐ซ๐ค๐๐ญ ๐๐ซ๐:
โข Amyris
โข BASF
โข BioAmber
โข Bio methanol Chemie Nederland B.V
โข BioMCN
โข Braskem
โข Cobalt Technologies
โข Corbion Nv
โข DSM
โข DuPont Tate & Lyle Bio Products
โข Genomatica
โข Metabolix Inc.
โข Mitsubishi Chemical Corp
โข Myriant Corporation
โข NatureWorks LLC
๐๐ง๐ฏ๐๐ฌ๐ญ ๐ข๐ง ๐๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐๐๐ฒ: https://www.polarismarketresearch.com/buy/1421/2
๐๐๐ซ๐ค๐๐ญ ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ ๐๐ง๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ
โข ๐๐ง๐ฏ๐ข๐ซ๐จ๐ง๐ฆ๐๐ง๐ญ๐๐ฅ ๐๐จ๐ง๐๐๐ซ๐ง๐ฌ: Increasing awareness of climate change and environmental degradation has prompted governments and industries worldwide to seek cleaner, greener alternatives. Renewable chemicals offer a path to reduce carbon footprints and mitigate environmental impact.
โข ๐๐๐ ๐ฎ๐ฅ๐๐ญ๐จ๐ซ๐ฒ ๐๐ฎ๐ฉ๐ฉ๐จ๐ซ๐ญ: Stringent regulations aimed at curbing emissions and promoting sustainable practices have created a favorable regulatory environment for renewable chemicals. Incentives and subsidies further encourage investment and innovation in this sector.
โข ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐๐๐ฅ ๐๐๐ฏ๐๐ง๐๐๐ฆ๐๐ง๐ญ๐ฌ: Advances in biotechnology, bioengineering, and process efficiency have enhanced the feasibility and scalability of renewable chemical production. Improved conversion technologies and novel bio-based processes have lowered costs and expanded product portfolios.
โข ๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ ๐๐๐ฆ๐๐ง๐: Growing consumer preference for eco-friendly products and sustainable practices has driven demand for renewable chemicals across various end-use industries, including packaging, textiles, pharmaceuticals, and automotive.
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ฅ ๐๐ซ๐๐๐ค๐๐จ๐ฐ๐ง:
The renewable chemicals market is mainly segmented based on product, end-use, and region. Based on the product analysis, the alcohol category dominated the global market. Consumers are increasingly flocking to bio-alcohol-based cosmetics and personal care products because of their sustainability and skin-friendliness.
Furthermore, according to end-use research, the demand for renewable chemicals in the packaging industry is predicted to rise during the forecast period. Increasing the use of renewable chemicals in the packaging of consumer goods, food, and beverages is predicted to enhance demand throughout the forecast period.
๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐๐ง๐ญ๐ข๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ซ๐๐ก๐๐ง๐ฌ๐ข๐ฏ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ซ๐: https://www.polarismarketresearch.com/industry-analysis/renewable-chemicals-market
๐๐ก๐๐ฅ๐ฅ๐๐ง๐ ๐๐ฌ ๐๐ง๐ ๐ ๐ฎ๐ญ๐ฎ๐ซ๐ ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค
โข ๐๐จ๐ฌ๐ญ ๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐๐ง๐๐ฌ๐ฌ: While advancements have lowered production costs, renewable chemicals often remain more expensive than their petrochemical counterparts. Continued innovation and economies of scale are crucial to achieving cost parity.
โข ๐๐๐๐ฅ๐-๐๐ฉ ๐๐ง๐ ๐๐ง๐๐ซ๐๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ฎ๐ซ๐: Scaling up production to meet global demand requires substantial investments in infrastructure and supply chain logistics. Developing efficient biomass supply chains and integrating renewable chemical facilities into existing infrastructure present logistical challenges.
โข ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐๐๐ฅ ๐๐ง๐ง๐จ๐ฏ๐๐ญ๐ข๐จ๐ง: Continued research and development are essential to overcoming technical barriers and improving the efficiency, performance, and versatility of renewable chemical products.
๐๐ฑ๐๐ฆ๐ข๐ง๐ ๐๐ฎ๐ซ ๐๐ฎ๐ฉ๐๐ซ๐ข๐จ๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
๐๐ ๐ซ๐ข๐๐ฎ๐ฅ๐ญ๐ฎ๐ซ๐๐ฅ ๐๐๐ฃ๐ฎ๐ฏ๐๐ง๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/agricultural-adjuvants-market
๐๐ ๐ซ๐ข๐๐ฎ๐ฅ๐ญ๐ฎ๐ซ๐๐ฅ ๐๐ง๐ณ๐ฒ๐ฆ๐๐ฌ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/agricultural-enzymes-market
๐๐ ๐ซ๐ข๐๐ฎ๐ฅ๐ญ๐ฎ๐ซ๐๐ฅ ๐ ๐ข๐ฅ๐ฆ๐ฌ ๐๐ง๐ ๐๐จ๐ง๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/agricultural-films-and-bonding-market
๐๐ ๐ซ๐จ๐๐ก๐๐ฆ๐ข๐๐๐ฅ๐ฌ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/agrochemicals-market
๐๐ข๐ซ ๐๐จ๐ซ๐ ๐๐ซ๐ข๐ฅ๐ฅ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/air-core-drilling-market
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ง๐๐จ:
Polaris Market Research
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Email: sales@polarismarketresearch.com
๐๐๐จ๐ฎ๐ญ ๐๐ฌ
Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defence, among different ventures present globally.
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