Bio Renewable Chemicals Market was valued at US$ 56.48 Bn. in 2021. Global Bio Renewable Chemicals Market size is estimated to grow at a CAGR of 7.18 %.
Bio Renewable Chemicals Market Overview:Bio-based chemicals are chemicals products, which is obtained from agricultural feedstock and waste, biomass, organic waste products, and other renewable sources. The renewable bio-based chemicals have a lower carbon footprint wide application scope in industries like food, beverage packaging and transportation. Consumer demand, superior performance, and environmental pressures are expected to drive investment in bio renewable chemicals. The production of chemicals from biomass, is highly desirable in replacing petrochemicals to make biorefineries economical. Biobased chemicals are becoming cost competitive and denote a near-term opportunity for renewable resources. Key Companies operating in the bio renewable chemicals market are building the biobased economy as they commercialize renewable chemicals.To know about the Research Methodology :- Request Free Sample Report
Bio Renewable Chemicals Market Dynamics:The global issue of climate change, requirement of bio-renewable to reduce the emission of greenhouse gases, an over dependency of many countries on fossil fuel imports are some of the drivers, which are led to make transition to a bio-based economy.The biobased economy is a value chain of sustainable manufacturing process, which uses biological processes to convert renewable, low-cost or waste feedstocks. It forms new markets for agricultural crops, crop residues and waste streams and opportunities for innovation. Renewable chemicals offer a cost-competitive alternative to petroleum’s value chain, which generates added value through environmental, economic and other benefits. An increase in interest in the use of biofuels because of strict automotive vehicle emission norms and deployment of bio-based polymers in the textile sector are expected to boost the market growth in the near future. The need to reduce fossil fuel dependence in the chemical industry is expected to lead to the emergence of bio-based alternative products. Growth and development in the Bio based Products The technological innovations and research in the biotypes of Platform Chemicals industry support the adoption of the bio-based products for end user industries across the globe. An increase in focus of federal government agencies on bio-based or biodegradable products, which offer minimal environmental impact is expected to provide key opportunities for bio-solvent key players. Small, medium, and large-scale enterprises are concentrating to shift their business from conventional to bio-based production processes with the help of federal agencies.
Bio Renewable Chemicals Market Segment Analysis:The consumer demand for environmentally friendly products, population growth and limited supplies of non-renewable resources are expected to open new windows of opportunity for bio-based chemicals and polymers. The main driver for the development and implementation of Bio Renewable Chemicals products is the transportation sector. Significant amounts of renewable fuels are necessary in the short and midterm to meet policy regulations across the globe. Current global bio-based chemical and polymer production is expected to be more than 100 million tonnes. At the global scale, production of bio-based chemicals is expected to generate more than US$ 10 billion of revenue for the global chemical industry. Glycerol segment is expected to contribute more than 35% share in the market. It is a vital co-product of fatty acid/alcohol production. It is purified and sold for a variety of uses. In the current market scenario, the large availability of glycerol has encouraged chemical producers to look at Types of Platform Chemicals for its conversion to chemical building blocks. It can serve as feedstock for fermentation and anaerobic digest. Based on the Application, bio renewable chemicals market is segmented into Bio-plastic, Bio-based Solvents and Bio-based cleaners and detergents. Among these, Bio-based Solvents held the dominant position in 2021. Bio-solvents are used for cleaning of high-precision mechanical parts like ball bearings. An increase in usages of bio-solvents in household cleaning applications like kitchens, showers, toilets, carpets, and other household items are expected to drive the demand for Bio-solvents. Despite the bioplastics show frequently a better GHG-balance over their fossil-based counter parts, the overall environmental advantages are limited. It is difficult to judge bio-based chemicals based on the same requirements than biofuels.
Bio Renewable Chemicals Market Regional Insights:An emergence of greener, environment-friendly alternatives to harmful solvents are expected to drive the global market growth. Mitigating global warming, realising a truly circular economy, consumer preference, corporate commitment, and government mandates and support are some of the strong forces, which drives the Asia Pacific region market growth. Many key companies are refocusing on high profits, low volume specialty areas. The presence of aeras in Areas, which are generating special traction are Food and Nutrition, Fragrances, Cosmetics, Personal Care, Pharmaceutical, Fine chemicals as well as chemicals across the developing nation are expected to increase the need for bio renewable chemicals. Key players are forming robust footprints in the global Bio Renewable Chemicals market by Mergers, Acquisitions and High investment in the chemical sector. Key companies are focusing on business expansions, new product launches, and acquisitions to gain a competitive edge. For instance, in 2021, Bemis Associates has announced to launch its bio-based Sewfree 3700 product with DuPont Tate & Lyle Bio Products to reduce carbon footprint. The objective of the report is to present a comprehensive analysis of the global Bio Renewable Chemicals Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Bio Renewable Chemicals Market dynamic, structure by analyzing the market segments and projecting the Bio Renewable Chemicals Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the Bio Renewable Chemicals Market make the report investor’s guide.
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Bio Renewable Chemicals Market Report Coverage Details Base Year: 2021 Forecast Period: 2021-2029 Historical Data: 2017 to 2021 Market Size in 2021: US $ 56.48 Bn. Forecast Period 2021 to 2029 CAGR: 7.18% Market Size in 2029: US $ 98.36 Bn. Segments Covered: by Types of Platform Chemicals • Glycerin • Lactic Acid • Succinic Acid • Others by Application • Bio-plastic • Bio-based Solvents • Bio-based cleaners and detergents
Bio Renewable Chemicals Market by Region• North America • Europe • Asia Pacific • Latin America • The Middle East and Africa
Bio Renewable Chemicals Market Key Players• BASF • Solazyme • Myriant • Elevance Renewable Sciences • BioAmber • DuPont Biosciences (Genencor) • Lanza Tech • Amyris • ZeaChem • Gevo • Evonik Indystries • Lanzatech • Corbion N.V. • Cobalt Technologies • Biomethanol Chemie Nederland B.V. • Metabolix Inc. • Genomatica Inc, • NatureWorks LLC • Novozymes A/S • Archer-Daniels-Midland Company • Evonik Industries Frequently Asked Questions: 1. Which region has the largest share in Global Bio Renewable Chemicals Market? Ans: Asia Pacific region held the highest share in 2021. 2. What is the growth rate of Global Bio Renewable Chemicals Market? Ans: The Global Bio Renewable Chemicals Market is growing at a CAGR of 7.18% during forecasting period 2022-2029. 3. What is scope of the Global Bio Renewable Chemicals market report? Ans: Global Bio Renewable Chemicals Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Bio Renewable Chemicals market? Ans: The important key players in the Global Bio Renewable Chemicals Market are – ABB Group, Assa Abloy, Allegion, Gira, Honeywell International, Geze, Nabtesco, Royal Boon Edam, Insteon, Schneider Electric, Stanley Black & Decker, Siemens AG., Came S.P.A., Dorma+Kaba Group, Insteon, Nabtesco,, Royal Boon Edam, Schneider Electric, Siemens, and and and Insteon (U.S.). 5. What is the study period of this market? Ans: The Global Bio Renewable Chemicals Market is studied from 2021 to 2029.
1. Bio Renewable Chemicals Market Size: Research Methodology 2. Bio Renewable Chemicals Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Bio Renewable Chemicals Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Bio Renewable Chemicals Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Bio Renewable Chemicals Market Size Segmentation 4.1. Bio Renewable Chemicals Market Size, by Types of Platform Chemicals (2021-2029) • Bio-plastic • Bio-based Solvents • Bio-based cleaners and detergents • Others 4.2. Bio Renewable Chemicals Market Size, by Application (2021-2029) • Onshore • Offshore 5. North America Bio Renewable Chemicals Market (2021-2029) 5.1. North America Bio Renewable Chemicals Market Size, by Types of Platform Chemicals (2021-2029) • Glycerin • Lactic Acid • Succinic Acid • Others 5.2. North America Bio Renewable Chemicals Market Size, by Application (2021-2029) • Bio-plastic • Bio-based Solvents • Bio-based cleaners and detergents • Others 5.3. North America Bio Renewable Chemicals Market, by Country (2021-2029) • United States • Canada • Mexico 6. European Bio Renewable Chemicals Market (2021-2029) 6.1. European Bio Renewable Chemicals Market, by Types of Platform Chemicals (2021-2029) 6.2. European Bio Renewable Chemicals Market, by Application (2021-2029) 6.3. European Bio Renewable Chemicals Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Bio Renewable Chemicals Market (2021-2029) 7.1. Asia Pacific Bio Renewable Chemicals Market, by Types of Platform Chemicals (2021-2029) 7.2. Asia Pacific Bio Renewable Chemicals Market, by Application (2021-2029) 7.3. Asia Pacific Bio Renewable Chemicals Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Bio Renewable Chemicals Market (2021-2029) 8.1. The Middle East and Africa Bio Renewable Chemicals Market, by Types of Platform Chemicals (2021-2029) 8.2. The Middle East and Africa Bio Renewable Chemicals Market, by Application (2021-2029) 8.3. The Middle East and Africa Bio Renewable Chemicals Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Bio Renewable Chemicals Market (2021-2029) 9.1. Latin America Bio Renewable Chemicals Market, by Types of Platform Chemicals (2021-2029) 9.2. Latin America Bio Renewable Chemicals Market, by Application (2021-2029) 9.3. Latin America Bio Renewable Chemicals Market, by Country (2021-2029) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. BASF 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Solazyme 10.3. Myriant 10.4. Elevance Renewable Sciences 10.5. BioAmber 10.6. DuPont Biosciences (Genencor) 10.7. Lanza Tech 10.8. Amyris 10.9. ZeaChem 10.10. Gevo 10.11. Evonik Indystries 10.12. Lanzatech 10.13. Corbion N.V. 10.14. Cobalt Technologies 10.15. Biomethanol Chemie Nederland B.V. 10.16. Metabolix Inc. 10.17. Genomatica Inc, 10.18. NatureWorks LLC 10.19. Novozymes A/S 10.20. Archer-Daniels-Midland Company 10.21. Evonik Industries