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Renewable Chemicals Market Forecasted to Reach US$ 296.71 Billion by 2030, Sustaining a 11.4% Compound Annual Growth Rate from 2022 to 2030

07-18-2024 08:46 AM CET | Chemicals & Materials

Press release from: Polaris Market Research & Consulting

Renewable Chemicals Market

Renewable Chemicals Market

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.

๐†๐ž๐ญ ๐„๐ฑ๐œ๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ž ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐“๐ก๐ข๐ฌ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/industry-analysis/renewable-chemicals-market/request-for-sample

๐•๐š๐ซ๐ข๐จ๐ฎ๐ฌ ๐Ÿ๐š๐œ๐ญ๐จ๐ซ๐ฌ ๐ฉ๐ซ๐จ๐ฉ๐ž๐ฅ๐ฅ๐ข๐ง๐  ๐ญ๐ก๐ž ๐๐ž๐ฆ๐š๐ง๐ ๐Ÿ๐จ๐ซ ๐ซ๐ž๐ง๐ž๐ฐ๐š๐›๐ฅ๐ž ๐œ๐ก๐ž๐ฆ๐ข๐œ๐š๐ฅ๐ฌ ๐ข๐ง๐œ๐ฅ๐ฎ๐๐ž:
โ€ข The renewable chemicals industry is being driven by population increase, industrialization, and urbanization.

โ€ข 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.

โ€ข The automotive and transportation industries are expected to employ more chemicals, such as bio-alcohol, during the projected period.

๐–๐ก๐š๐ญ ๐š๐ซ๐ž ๐‘๐ž๐ง๐ž๐ฐ๐š๐›๐ฅ๐ž ๐‚๐ก๐ž๐ฆ๐ข๐œ๐š๐ฅ๐ฌ?
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.

๐“๐จ๐ฉ ๐‚๐จ๐ฆ๐ฉ๐š๐ง๐ข๐ž๐ฌ:
Because there are so many companies in the industry, it is expected to be both competitive and fragmented.

๐’๐จ๐ฆ๐ž ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ฅ๐ž๐š๐๐ข๐ง๐  ๐œ๐จ๐ฆ๐ฉ๐š๐ง๐ข๐ž๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐ซ๐ž๐ง๐ž๐ฐ๐š๐›๐ฅ๐ž ๐œ๐ก๐ž๐ฆ๐ข๐œ๐š๐ฅ๐ฌ ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐š๐ซ๐ž:
โ€ข Amyris
โ€ข BASF
โ€ข BioAmber
โ€ข Bio methanol Chemie Nederland B.V
โ€ข BioMCN
โ€ข Braskem
โ€ข Cobalt Technologies
โ€ข Corbion Nv
โ€ข DSM
โ€ข DuPont Tate & Lyle Bio Products
โ€ข Genomatica
โ€ข Metabolix Inc.
โ€ข Mitsubishi Chemical Corp
โ€ข Myriant Corporation
โ€ข NatureWorks LLC

๐ˆ๐ง๐ฏ๐ž๐ฌ๐ญ ๐ข๐ง ๐“๐ก๐ข๐ฌ ๐๐ซ๐ž๐ฆ๐ข๐ฎ๐ฆ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐“๐จ๐๐š๐ฒ: https://www.polarismarketresearch.com/buy/1421/2

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ฒ๐ง๐š๐ฆ๐ข๐œ๐ฌ ๐š๐ง๐ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ
โ€ข ๐„๐ง๐ฏ๐ข๐ซ๐จ๐ง๐ฆ๐ž๐ง๐ญ๐š๐ฅ ๐‚๐จ๐ง๐œ๐ž๐ซ๐ง๐ฌ: 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.

โ€ข ๐‘๐ž๐ ๐ฎ๐ฅ๐š๐ญ๐จ๐ซ๐ฒ ๐’๐ฎ๐ฉ๐ฉ๐จ๐ซ๐ญ: 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.

โ€ข ๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐œ๐š๐ฅ ๐€๐๐ฏ๐š๐ง๐œ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ: 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.

โ€ข ๐‚๐จ๐ง๐ฌ๐ฎ๐ฆ๐ž๐ซ ๐ƒ๐ž๐ฆ๐š๐ง๐: 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.

๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ฅ ๐๐ซ๐ž๐š๐ค๐๐จ๐ฐ๐ง:
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.

๐€๐œ๐œ๐ž๐ฌ๐ฌ ๐ญ๐ก๐ž ๐„๐ง๐ญ๐ข๐ซ๐ž ๐‚๐จ๐ฆ๐ฉ๐ซ๐ž๐ก๐ž๐ง๐ฌ๐ข๐ฏ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐‡๐ž๐ซ๐ž: https://www.polarismarketresearch.com/industry-analysis/renewable-chemicals-market

๐‚๐ก๐š๐ฅ๐ฅ๐ž๐ง๐ ๐ž๐ฌ ๐š๐ง๐ ๐…๐ฎ๐ญ๐ฎ๐ซ๐ž ๐Ž๐ฎ๐ญ๐ฅ๐จ๐จ๐ค
โ€ข ๐‚๐จ๐ฌ๐ญ ๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐ฏ๐ž๐ง๐ž๐ฌ๐ฌ: 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.

โ€ข ๐’๐œ๐š๐ฅ๐ž-๐”๐ฉ ๐š๐ง๐ ๐ˆ๐ง๐Ÿ๐ซ๐š๐ฌ๐ญ๐ซ๐ฎ๐œ๐ญ๐ฎ๐ซ๐ž: 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.

โ€ข ๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐œ๐š๐ฅ ๐ˆ๐ง๐ง๐จ๐ฏ๐š๐ญ๐ข๐จ๐ง: Continued research and development are essential to overcoming technical barriers and improving the efficiency, performance, and versatility of renewable chemical products.

๐„๐ฑ๐š๐ฆ๐ข๐ง๐ž ๐Ž๐ฎ๐ซ ๐’๐ฎ๐ฉ๐ž๐ซ๐ข๐จ๐ซ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ:
๐€๐ ๐ซ๐ข๐œ๐ฎ๐ฅ๐ญ๐ฎ๐ซ๐š๐ฅ ๐€๐๐ฃ๐ฎ๐ฏ๐š๐ง๐ญ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ: https://www.polarismarketresearch.com/industry-analysis/agricultural-adjuvants-market

๐€๐ ๐ซ๐ข๐œ๐ฎ๐ฅ๐ญ๐ฎ๐ซ๐š๐ฅ ๐„๐ง๐ณ๐ฒ๐ฆ๐ž๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ: https://www.polarismarketresearch.com/industry-analysis/agricultural-enzymes-market

๐€๐ ๐ซ๐ข๐œ๐ฎ๐ฅ๐ญ๐ฎ๐ซ๐š๐ฅ ๐…๐ข๐ฅ๐ฆ๐ฌ ๐€๐ง๐ ๐๐จ๐ง๐๐ข๐ง๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ: https://www.polarismarketresearch.com/industry-analysis/agricultural-films-and-bonding-market

๐€๐ ๐ซ๐จ๐œ๐ก๐ž๐ฆ๐ข๐œ๐š๐ฅ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ: https://www.polarismarketresearch.com/industry-analysis/agrochemicals-market

๐€๐ข๐ซ ๐‚๐จ๐ซ๐ž ๐ƒ๐ซ๐ข๐ฅ๐ฅ๐ข๐ง๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ: https://www.polarismarketresearch.com/industry-analysis/air-core-drilling-market

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐ˆ๐ง๐Ÿ๐จ:
Polaris Market Research
Phone: +1-929-297-9727
Email: sales@polarismarketresearch.com

๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ
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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