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Renewable Chemicals Global Market Surge: Analysis of CAGR, Drivers, Market Size, and Emerging Trends
Renewable Chemicals Market Size
What Is The Projected Market Size Of The Global Renewable Chemicals Market And Its Growth Rate?
• The renewable chemicals market was valued at $117.68 billion in 2024.
• It is projected to reach $131.73 billion in 2025, registering a CAGR of 11.9%.
• Factors such as environmental concerns, increased demand for sustainable products, government support, and consumer awareness primarily drive this rapid growth.
• The market size is expected to further escalate to $222.61 billion in 2029 at a CAGR of 14.0%.
• Growth during this period will be spearheaded by the emergence of bio-based aviation fuels, renewable solvent adoption, and advanced bio-based materials development.
What Is Driving The Growth In The Renewable Chemicals Market?
The renewable chemicals market growth is significantly propelled by the increased demand from the automotive industry that extensively utilizes biopolymers from renewable sources. Data from the Society of Indian Automobile Manufacturers (SIAM) indicates an uptick in automobile production from 22,655,609 units in 2020-21 to 22,933,230 units in 2021-22. Additionally, a report by the China Association of Automobile Manufacturers revealed a growth in automobile sales in China to 27.5 million in 2022, an increase of 5.4%. This surge in demand from the automobile industry is instrumental in driving the growth of the renewable chemicals market.
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Who Are the Key Players Driving Renewable Chemicals Market Growth?
• Archer-Daniels-Midland Company
• Amyris Inc.
• BASF SE
• Bioamber Inc.
• Biomethanol Chemie Nederland BV
• Corbion NV
• Metabolix Inc.
• Genomatica Inc.
• NatureWorks LLC
• Novozymes A/S
• Evonik Industries AG
• Cargill Inc.
• Myriant Corporation
• Mitsubishi Chemical Corporation
• Koninklijke DSM NV
• Cobalt Technologies Ltd.
• Solazyme Inc.
• Elevance Renewable Sciences Inc.
• Gevo Inc.
• Avantium Technologies BV
• Virent Inc.
• Anellotech Inc.
• Verdezyne Inc.
• Rennovia Inc.
• Terravia Holdings Inc.
• American Process Inc.
• Clariant AG
• Global Bioenergies SA
• Kiverdi Inc.
• LanzaTech Inc.
What Are The Key Trends In The Renewable Chemicals Market?
• Shift towards bio-based feedstocks
• Biofuel co-production
• Adoption of advanced bioconversion technologies
• Expansion of renewable platform chemicals
• Strategic collaborations and partnerships
• Market expansion in Asia-Pacific
• Emergence of renewable lubricants and additives
What Are The Segments Of The Global Renewable Chemicals Market?
• By Product Type: Ethanol, ket*ones, Biopolymers, Platform Chemicals, Other Product Types
• By Feedstocks: Biomass, Corn, Sugarcane, Algae, Other Feedstocks
• By End-Use: Automotive, Medical, Food And Beverages, Petrochemicals, Textiles, Agriculture, Other End-Uses
Which Region Leads The Renewable Chemicals Market?
North America dominated the renewable chemicals market in 2024. However, Europe is anticipated to be the fastest-growing region in the forecast period. The blockchain market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Renewable Chemicals Global Market Report?
• Market Size Analysis: Analyze the Renewable Chemicals Market size by key regions, countries, product types, and applications.
• Market Segmentation Analysis: Identify various subsegments within the Renewable Chemicals Market for effective categorization.
• Key Player Focus on key players to define their market value, share, and competitive landscape.
• Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
• Market Contribution: Evaluate contributions of different segments to the overall Renewable Chemicals Market growth.
• Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
• Industry Challenges: Analyze challenges and risks affecting the Renewable Chemicals Market.
• Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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