Renewable Chemicals Industry Growth Outlook: 13.6% CAGR and $216.5 Billion by 2029

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What Is the Long-Term Growth Forecast for the Renewable Chemicals Market Size 2025?
The market size of renewable chemicals has seen a swift expansion in the recent past. The market, which stood at $117.68 billion in 2024, is expected to reach $130.04 billion in 2025, recording a compound annual growth rate (CAGR) of 10.5%. The substantial growth observed in the historical period is primarily due to increasing environmental worries, an upswing in consumer preference for eco-friendly products, inconsistent petrochemical costs, government subsidies and rewards, a rise in corporate sustainability programs, and heightened consumer consciousness and knowledge.

What CAGR is Forecasted for the Renewable Chemicals Market Through 2029?
The market for renewable chemicals is predicted to experience significant expansion in the coming years, with expectations that it will reach a value of $216.5 billion by 2029, reflecting a compound annual growth rate (CAGR) of 13.6%. This anticipated growth during the forecast period can be ascribed to the rise of bio-based aviation fuels, increased uptake of renewable solvent, heightened investment in renewable chemical projects, sustainable agriculture methods, and the creation of new bio-based materials. Other trends to note for this forecast period consist of a shift towards bio-based feedstocks, biofuel co-production, enhanced bioconversion technologies, expansion of renewable platform chemicals, collaboration and partnerships, as well as growth in the Asia-pacific market and the emergence of renewable lubricants and additives.

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What Are the Critical Factors Driving Renewable Chemicals Market Development?
The renewable chemicals market is predicted to benefit from a rise in demand from the automotive sector. The manufacturing of vehicles employs biopolymers derived from renewable sources, specifically intended for automotive applications. For example, data from May 2022 revealed by the Society of Indian Automobile Manufacturers (SIAM), a non-profit entity representing car manufacturers in India, shows that the number of vehicles produced has surged over the past two years. Total production rose from 22,655,609 units in 2020-21 to 22,933,230 units in 2021-22. Furthermore, the China Association of Automobile Manufacturers, a non-profit organization based in China, reported in May 2022 that auto sales in China increased by 5.4% to reach 27.5 million in 2022. As a result, the burgeoning demand from the automotive industry is a key driver for the expansion of the renewable chemicals market.

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How Does the Renewable Chemicals Market Break Down Across Major Segments?
The renewable chemicals market covered in this report is segmented -

1) By Product Type: Ethanol, ket*ones, Biopolymers, Platform Chemicals, Other Product Types
2) By Feedstocks: Biomass, Corn, Sugarcane, Algae, Other Feedstocks
3) By End-Use: Automotive, Medical, Food And Beverages, Petrochemicals, Textiles, Agriculture, Other End-Uses

Subsegments:
1) By Ethanol: Bioethanol, Cellulosic Ethanol
2) By ket*ones: Acetone, Methyl Ethyl ket*one (MEK), Other ket*ones
3) By Biopolymers: Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Starch-Based Polymers, Other Biopolymers
4) By Platform Chemicals: Furfural, Levulinic Acid, Succinic Acid, Other Platform Chemicals
5) By Other Product Types: Glycerol, Lactic Acid, Other Renewable Chemicals

What Are the Major Trends Transforming the Renewable Chemicals Industry?
The emphasis on product innovation is an emerging trend in the renewable chemicals industry. Major players in this market are striving to leverage technology advancements to solidify their market standing. As an illustration, Evonik Industries, a specialty chemicals enterprise based in Germany, introduced environmentally-friendly isophorone products made entirely from renewable acetone in March 2022. These products aim to minimize CO2 emissions at every stage. Moreover, the new entries under the VESTA eCO Grades series are intended to serve as eco-friendly raw materials for paints, lacquers, binders, and car interiors. This progressive product development showcases more progress in the renewable chemicals industry.

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Which Players Are Driving Innovation in the Renewable Chemicals Market?
Major companies operating in the renewable chemicals market are 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.

Which Regions Are Driving Global Renewable Chemicals Market Expansion?
North America was the largest region in the renewable chemicals market in 2024. Europe is expected to be the fastest-growing region in the renewable chemicals market report during the forecast period. The regions covered in the renewable chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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