Consumer Acceptance for Eco-Friendly Products Dominating Renewable Chemicals Market
The report “Renewable Chemicals Market" - Alcohols (Ethanol, Methanol), Biopolymers (Starch Blends, Regenerated Cellulose, PBS, Bio-PET, PLA, PHA, Bio-PE, and Others), Platform Chemicals & Others - Global Trends & Forecast to 2020”, defines and segments the global renewable chemical market and forecast of the market size by volume and value. Renewable chemicals market size in terms of value will grow from an estimated USD 49.0 Billion in 2015 to USD 84.3 Billion by 2020, with a CAGR of 11.47% between 2015 and 2020.
Browse 119 tables and 34 figures spread through 170 pages and in-depth TOC on "Renewable Chemicals Market - Alcohols (Ethanol, Methanol), Biopolymers (Starch Blends, Regenerated Cellulose, PBS, Bio-PET, PLA, PHA, Bio-PE, and Others), Platform Chemicals & Others - Global Trends & Forecast to 2020"
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The drivers for the renewable chemical market include abundant & low-cost feedstock, technological innovations, consumer acceptance for eco-friendly products, and government support for eco-friendly sources and processes. The factors hindering the growth of the renewable chemicals market are the high price when compared to the conventional polymers and associated performance issues.
However, with the increasing research and innovation, improvement is expected in the near future. The growth opportunities for the renewable chemicals market are increasing scope in end-user segments, new raw materials, under penetration in the Asian countries, and potential for cost reduction through economy of scale.
Ethanol is the most commercialized segment among all the major renewable chemicals. The U.S. and Brazil together account for more than 80.0% of the global ethanol production. There is ample scope of growth in Canada, Europe, and developing nations such as China and India in the Asian region. In the bio-polymers segment; bio-PET and bio-PE together account for more than 50.0% share, in terms of volume. Bio-PET is projected to register the highest CAGR of over 20.0% (by volume), followed by PLA during the forecast period.
The renewable chemicals market is relatively niche with less number of players globally. In the future, with the increase in demand for these chemicals, the trend is estimated to move toward full-scale commercialization from pilot scale projects. New players will have to make significant investments in R&D and facility development for entry into the market.
However, favorable government policies toward green & biodegradable products and EU‘s wide policy support will allow more companies to enter into the market with increased capacities. Currently, this market has a limited number of companies and a lot of potentials. The players in the market require high capital investments and technology knowledge. Therefore, players entering into this market are required to have high R&D capabilities and financial assistance.
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The leading players in the market include BioAmber (Canada), Myriant Corporation (U.S.), Metabolix Inc. (U.S.), BASF SE (Germany), Mitsubishi Chemical Corporation (Japan), Braskem (Brazil), Corbion N.V. (The Netherlands), NatureWorks LLC (U.S.), BioMCN (The Netherlands), Genomatica (U.S.), Cobalt Technologies (U.S.), and DuPont Tate & Lyle Bio Products (U.S.).
This report includes analysis of the global markets for major renewable chemicals such as alcohols, polymers, ketones, and acids; along with the major applications of renewable chemicals. The market segments are analyzed for major regions, North America, Europe, Asia-Pacific, and RoW.
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