Global Renewable Chemicals Market will Reach USD 85.0 Billion by 2021: atozresearch

The report covers forecast and analysis for the renewable chemicals market on a global and regional level. According to the report, global demand for renewable chemicals market was valued at over USD 50.0 billion in 2015 and it is expected to reach around USD 85.0 billion in 2021, growing at a CAGR of above 11% between 2016 and 2021.The study includes drivers and restraints for the market along with the impact they have on the demand over the forecast period. Additionally, the report includes study of opportunities available in the renewable chemicals market on a global level.

Ever increasing environmental concerns associated with manufacturing of chemicals using crude derived resources as a feedstock materials, increasing pressure from regulatory authorities to lower carbon footprints has been resulted into increasing use of renewable feedstock for the production of chemicals. Abundance of raw materials, government initiatives, ongoing research & development in the field of renewable chemicals for cost effective manufacturing is also expected to fuel the growth of renewable chemicals market. However, high initial investment, higher cost of production and competition from other industries to procure raw materials is expected to hamper the growth of this industry to some extent.

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In order to give the users of this report a comprehensive view on the renewable chemicals market, we have included a detailed competitive scenario, and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the renewable chemicals market has also been included. The study encompasses a market attractiveness analysis, wherein product segments are benchmarked based on their market size, growth rate and general attractiveness.

Biopolymers, ketones, alcohols, platform chemicals, organic acids are some of the important product segments of the renewable chemicals market. Alcohols and organic acids together account for the largest share of the global renewable chemicals market in terms of volume as well as revenue in 2014. However, biopolymers are expected to be the fastest growing segment of renewable chemicals market during the forecast period. Textiles, environment, housing, health & hygiene, agriculture, transportation, food safety, communication, recreation, bio-medical, etc. are some of the major outlets for renewable chemicals.

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The global renewable chemicals market was dominated by Europe and accounted for the largest share in 2015. Stringent environmental regulations across the region have been resulted into growing demand for renewable chemicals. However, Asia Pacific is expected to exhibit fastest CAGR during 2016 to 2021. North America, Latin America and Middle East & Africa are also expected to witness rapid growth in demand for renewable chemicals during the forecast period.

The study provides a decisive view on the renewable chemicals market by segmenting the market based on product, application and region. Biopolymers, ketones, alcohols, platform chemicals, organic acids and others are the products of renewable chemical market. Infinite number of application of renewable chemicals includes textiles, environment, housing, health & hygiene, agriculture, transportation, food safety, communication, recreation, bio-medical and other. All the segments have been analyzed based on present and future trends and the market is estimated from 2015 to 2021.The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and Middle East and Africa with its further bifurcation into major countries including U.S. Germany, France, UK, China, Japan, India and Brazil.

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The report covers detailed competitive outlook including company profiles of the key participants operating in the global market. Key players profiled in the report include Mitsubishi Chemical Corporation, Corbion N.V., Myriant Corporation, BASF, Genomatica, Metabolix Inc., Braskem, NatureWorks LLC, Corbion N.V., BioMCN, DuPont Tate & Lyle Bio Products, Cobalt Technologies and Bio Amber among others.

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