Renewable Chemicals Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Product Type (Bio-Based Chemicals, Platform Chemicals, Biopolymers), By Application (Transportation, Food And Beverage Packaging, Agriculture, Biomedical, Housing Textiles, Others), And By Geography - Forecasts From 2020 To 2025

Published:  May 2021 Report Code: KSI061611933 Pages: 124

The Renewable Chemicals Market is expected to grow at a CAGR of 10.36% over the forecast period to reach a total market size of US$142.796 billion by 2025, increasing from US$79.041 billion in 2019. Renewable chemicals contain chemicals that are produced from renewable feedstocks such as biomass, agriculture raw materials, and microorganisms. Bio-based chemicals are now becoming cost-competitive and provide opportunities for the replacement of petrochemicals with renewable resources. Increasing demand and support for eco-friendly products is expected to drive the market for renewable chemicals during the forecast period. However, the presence of substitutes and high prices are anticipated to restrain the growth of the market in the coming years.

Growing demand for environment-friendly products is driving the market for renewable chemicals over the forecast period

The countries today are targeting to replace fossil resources with renewable biological resources to produce food, chemicals, energy, and materials. The increasing concerns over climate change are considered as one of the prime drivers for the growth of the market during the forecast period.  There is also a growing need for secure sustainable food production and clean water, clothing, and resources for housing due to the ever-increasing human population. In addition, companies are beginning to cater to the demand for conscious customers by paying attention to their evident impact on the environment. Also, eco-friendly products not only produce fewer emissions and reduce carbon footprint but also lower shipping costs and create a positive brand image which further propels the market growth opportunities for renewable chemicals over the forecast period.  The emission of greenhouse gas has been increasing globally as the trend of industrialization continues. The percentage of countries committed to peaking their emission is expected to increase from 36% in 2010 to 60% in 2030 (source: Emission Gap Report 2018, United Nations Environment Programme). Besides, The European Commission has set a target of achieving of 80% reduction in the emission by 2050 that could be achieved by 81Mt of carbon dioxide to be eliminated which will require 85% of the clinker production to be equipped with carbon capture and storage technology. Such collaborative efforts and initiatives drive the market for renewable-based chemicals in the coming years.

renewable chemicals market

An increasing initiative by both public and private players

Both the government and the private sector are increasingly supporting and taking initiative for the use of renewable chemicals. For instance, recently, AkzoNobel Specialty Chemicals launched its third edition of Imagine Chemistry collaboration innovation challenge under which the company invites start-ups, university spin-outs among other potential partners to rescue the chemicals-related challenges and unboxed the new way that creates value for customers. In addition, major market players are investing heavily which is anticipated to boost the market for renewable chemicals over the forecast period. For instance, in 2019, Biorefinery Nordfuel invested nearly €150 million is scheduled to open a facility in Northern Finland in 2021 which will produce bioethanol and biofuel from softwood residues. Also, in January 2019, Aemetis upgraded its Kakinada plant to enable the production of fifty million gallons a year of biodiesel and bio-oil. The expansion also includes the installation of a pre-treatment unit to process lower cost and waste feedstock into the oil. Besides, in June 2018, The United States Senate passed its version of the Farm Bill titles "The Agriculture Improvement Act of 2018" that includes mandatory funding for the energy title program. The Energy title includes a variety of programs that benefits the bio-energy and bio-fuels industry including biochemical research and development initiative. Furthermore, in March 2015, Mexican foreign and environmental ministers presented the national climate submission in Mexico City, unveiling a strategy to reduce greenhouse gas emission by approx. 22% by 2060. As a result, in January 2018, Holcim Mexico, a part of LafargeHolcim Group gained Environment Protection Declaration (EPD) for a type of highly-specialized premixed concrete that is eco-friendly.

North America is estimated to hold a significant share in the market.

By geography, the global renewable chemicals market has been segmented as North America, South America, Europe, the Middle East and Africa, and Asia Pacific (APAC) regions. North America is expected to account for a significant share of the global renewable chemicals market in 2019 and is projected to grow at a healthy CAGR throughout the forecast period. This growth is attributed to the presence of big market players coupled with the growing government initiative. As a result of rising awareness regarding greenhouse gas emission regarding other forms of chemicals is compelling manufacturers and researchers to produce chemicals that not only reduce the emission of greenhouse gases such as carbon dioxide at a considerable level but also are cost-effective. The renewable chemicals market in the Asia Pacific region is anticipated to witness exponential growth owing to abundant feedstocks and technological innovation in countries like China and India. Also, growing carbon footprints due to rapid industrialization in developing countries like India and China boost the demand for renewable chemicals. In addition, Europe's renewable chemicals market will witness considerable growth during the forecast period on account of rising demand for environment-friendly products coupled with favorable government policies in the region. Furthermore, expanding the construction and agriculture industry is expected to drive the renewable chemicals market in South America and the Middle East and African region.

Competitive Insights

Prominent key market players in the global renewable chemicals market include BASF SE, Myriant Corporation, Avantium, and DuPont Tate & Lyle Bio Products among others. The number of players in the renewable chemicals market is large and growing with the opportunity to generate significant revenues as a result of growing demand. Key players in the market are seen to adopt similar strategies and are aiming to expand their market share by expanding their product portfolio. Big market players are looking to raise their market share and improve their market reach by acquiring SMEs. Moreover, different firms offer differentiated yet similar products to meet the different requirements of end-users.

Renewable Chemicals Market Scope:

Report Metric Details
 Market size value in 2019  US$79.041 billion
 Market size value in 2025  US$142.796 billion
 Growth Rate  CAGR of 10.36% from 2019 to 2025
 Base year  2019
 Forecast period  2020–2025
 Forecast Unit (Value)  USD Billion
 Segments covered  Product Type, Application, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  Myriant Corporation, DuPont Tate & Lyle Bio Products, Corbion, Reverdia, Braskem,   Genomatica, Inc, Avantium, NatureWorks LLC, BASF SE
 Customization scope  Free report customization with purchase

Segmentation:

  • By Product type
    • Bio-based chemicals
      • Alcohols
        • C1 and C2
        • C3 and C4
        • Others
      • Organic Acids
      • Ketones
      • Others
    • Platform Chemicals
    • Bio Polymers
      • Polylactic Acid (PLA)
      • Starch Blends
      • Polyvinyl Acetate
      • Polyglycolic Acid
      • Others
  • By Application
    • Transportation
    • Food and Beverage Packaging
    • Agriculture
    • Biomedical
    • Textiles
    • Housing
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the renewable chemicals market size by 2025?
A1. The renewable chemicals market is expected to reach a market size of US$142.796 billion by 2025. 


Q2. What is the size of the global renewable chemicals market?
A2. Renewable Chemicals Market was valued at US$79.041 billion in 2019.

 
Q3. What are the growth prospects for the renewable chemicals market?
A3. The global renewable chemicals market is expected to grow at a CAGR of 10.36% over the forecast period 


Q4. Which region holds the largest market share in the renewable chemicals market?
A4. North America is expected to account for a significant share of the global renewable chemicals market in 2019 and is projected to grow at a healthy CAGR throughout the forecast period. 


Q5. What factors are anticipated to drive the renewable chemicals market growth?
A5. Growing demand for environment-friendly products is driving the market for renewable chemicals over the forecast period.

1. Introduction
1.1. Market Definition
1.2. Market Segmentation
 
2. Research Methodology
2.1. Research Data
2.2. Assumptions
 
3. Executive Summary
3.1. Research Highlights
 
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
 
5. Renewable chemicals Market Analysis, By Grade
5.1. Introduction
5.2. Bio-based chemicals
5.2.1. Alcohols
5.2.1.1. C1 and C2
5.2.1.2. C3 and C4
5.2.1.3. Others
5.2.2. Organic Acids
5.2.3. Ketones
5.2.4. Others
5.3. Platform Chemicals
5.4. Bio Polymers
5.4.1. Polylactic Acid (PLA)
5.4.2. Starch Blends
5.4.3. Polyvinyl Acetate
5.4.4. Polyglycolic Acid
5.4.5. Others
 
6. Renewable chemicals Market Analysis, By Application
6.1. Introduction
6.2. Transportation
6.3. Food and Beverage Packaging
6.4. Agriculture
6.5. Biomedical
6.6. Textiles
6.7. Housing
6.8. Others
 
7. Renewable chemicals Market Analysis, By Geography
7.1. Introduction
7.2. North America (US$ Million) (tons)
7.2.1. North America Renewable chemicals Market, By Product Type, Bio Polymers, 2019 to 2025 (US$ Million) (tons)
7.2.2. North America Renewable chemicals Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.2.3. By Country
7.2.3.1. United States (US$ Million) (tons)
7.2.3.2. Canada (US$ Million) (tons)
7.2.3.3. Mexico (US$ Million) (tons)
7.3. South America (US$ Million) (tons)
7.3.1. South America Renewable chemicals Market, By Product Type, Bio Polymers, 2019 to 2025 (US$ Million) (tons)
7.3.2. South America Renewable chemicals Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.3.3. By Country
7.3.3.1. Brazil (US$ Million) (tons)
7.3.3.2. Others
7.4. Europe (US$ Million) (tons)
7.4.1. Europe Renewable chemicals Market, By Product Type, Bio Polymers, 2019 To 2025 (US$ Million) (tons)
7.4.2. Europe Renewable chemicals Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.4.3. By Country
7.4.3.1. UK (US$ Million) (tons)
7.4.3.2. Germany (US$ Million) (tons)
7.4.3.3. France (US$ Million) (tons)
7.4.3.4. Others
7.5. Middle East and Africa (US$ Million) (tons)
7.5.1. Middle East And Africa Renewable chemicals Market, By Product Type, Bio Polymers, 2019 To 2025 (US$ Million) (tons)
7.5.2. Middle East And Africa Renewable chemicals Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.5.3. By Country
7.5.3.1. Saudi Arabia (US$ Million) (tons)
7.5.3.2. Others
7.6. Asia Pacific (US$ Million) (tons)
7.6.1. Asia Pacific Renewable chemicals Market, By Product Type, Bio Polymers, 2019 To 2025 (US$ Million) (tons)
7.6.2. Asia Pacific Renewable chemicals Market, By Application, 2019 To 2025 (US$ Million) (tons)
7.6.3. By Country
7.6.3.1. Japan (US$ Million) (tons)
7.6.3.2. China (US$ Million) (tons)
7.6.3.3. India (US$ Million) (tons)
7.6.3.4. Others
 
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
 
9. Company Profiles
9.1. Myriant Corporation
9.2. DuPont Tate & Lyle Bio Products
9.3. Corbion
9.4. Reverdia
9.5. Braskem
9.6. Genomatica, Inc
9.7. Avantium
9.8. NatureWorks LLC
9.9. BASF SE

Myriant Corporation

DuPont Tate & Lyle Bio Products

Corbion

Reverdia

Braskem

Genomatica, Inc

Avantium

NatureWorks LLC

BASF SE

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