RENEWABLE CHEMICALS MARKET - GLOBAL

INDUSTRY INSIGHTS, TRENDS, OUTLOOK,

AND OPPORTUNITY ANALYSIS, 2017-25

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REPORT DESCRIPTION

Renewable Chemicals Market Overview

Renewable chemicals commonly known as bio-based chemicals are obtained from various renewable sources
such as organic waste products, agricultural waste, agricultural feedstock, microorganism, and biomass. Due to
lower carbon constituent and environment friendly characteristics, it has emerged as a potential substitute for
petroleum-based chemicals. Increasing awareness and growing demand for methanol and ethanol in the
pharmaceutical industry is a major factor expected to fuel growth of the renewable chemicals market during the
forecast period. The renewable chemical market is expected to be dominated by Europe, followed by North
America. This is mainly attributed to inclination of the populace and industry players towards adoption of novel
and technologically advanced green products. However, on the back of supportive government policies and low
labor cost, Asia Pacific is expected to specter enormous growth for the market during the forecast period.
Renewable chemicals have diverse application such as agriculture, food & beverages packaging, biomedical,
among others.

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Renewable Chemicals Market Taxonomy

On the basis of product type, the global market is classified into:

Bio polymer

Alcohols

Ketones

Organic acids

Others

On the basis of applications, the global market is classified into:


Agriculture

Food & beverages packaging

Bio medical

Textiles

Others
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
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Renewable Chemicals Market Outlook – Surge in End User Demand

Augmenting Market Growth
Emerging technological breakthroughs, inclination of the populace towards eco-friendly products, and supportive
government policy are fueling growth of the renewable chemicals market. Moreover, the growing demand for
ethanol & methanol, green packaging materials and consumer goods packaging materials is expected to witness
tremendous growth during the forecast period. Abundant raw material, cheap labor cost, and increasing demand
for renewable chemicals in China and India is expected to propel growth of the market for renewable chemicals.
Moreover, tremendously escalating urbanization and industrialization in emerging economies of Asia Pacific are
further expected to amplify demand for renewable chemicals across various flourishing end-use industries. Strict
regulation by EU on the use of fossil fuels has compelled manufacturers and researchers to innovate and develop
new technology, which can replace fossil fuel.

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Renewable Chemicals Market Challenges – High Cost for

Commercialization
The renewable chemicals market is very niche, with few numbers of players in the global market. Moreover,
increasing consumer awareness about the environment is expected to sharply incline towards green and eco-
friendly chemicals. To fulfill increasing demand for renewable chemicals, commercialization of pilot project and
players have to make significant investment in research and development to upgrade the existing production
technology and develop new products. While the market offers highly lucrative growth opportunities, high capital
investment in production of renewable chemicals as compared to other conventional chemicals and polymers, is
expected to be a key challenge for market growth. Also, the viability of renewable chemicals in terms of matching
performance of conventional chemicals is still to be conclusively proved, which dissuades end-use industries
from adopting these chemicals. Increasing technological advancements and growing consumer awareness is
expected to change the tide in the near future. Moreover, due to abundant petroleum reserves in Middle East and
Latin America, the market for renewable chemicals in these region is expected to experience least growth during
the forecasted period.

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