Renewable Chemicals Market Overview: —
Market Research Future (MRFR) reports that the global renewable chemicals market could expect to gain considerable revenue by 2025. It is also estimated to achieve a high CAGR during the forecast period (2018-2025).
Renewable chemicals are used to elevate the demand for renewable resources instead of fossil fuels. These chemicals refer to all the chemicals that are derived from renewable feedstock like biomass (plant, animal, and marine), agricultural raw materials, and microorganisms. Rigid government regulations and rise in environmental concerns, as well as awareness, are accelerating the use of bio-based products that come from biomass sources. This factor works in favor of the market for renewable chemicals.
Renewable chemicals find a variety of applications across various industries, including housing, food processing, environment, textiles, pharmaceutical, hygiene, transportation, and other applications. Renewable chemicals are mainly available as alcohols, ketones, biopolymers, and organic acids. They find extensive use in consumer goods, surfactants, and lubricants, plastics and resins for environmental purpose.
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Industry Update June 2019:
LyondellBasell Industries N.V., along with Neste, will start with the production of bio-based polypropylene and bio-based low-density polyethylene. The project made use of renewable hydrocarbons extracted from sustainable bio-based raw materials like residue oils and waste.
Renewable Chemicals Market Key Players:
Key companies contributing to the worldwide renewable chemicals market are;
• Archer-Daniels-Midland Company,
• Evonik industries,
• Biomethanol Chemie Nederland,
• E. I. DU PONT,
• Amyris Inc, and others.
Renewable Chemicals Market Segments Analysis:
The worldwide market for renewable chemicals has been segmented on the basis of types and applications.
Depending on types, the global market is considered for alcohols, organic acids, ketones, platform chemicals, polymers, and others.
The applications of renewable chemicals are industrial, transportation, food packaging & beverage bio-medical, agriculture, bottling, textiles, fertilizers, housing, environment, recreation, and health & hygiene.
Renewable Chemicals Market Regional Analysis:
Asia Pacific, North America, Middle East & Africa, Latin America and Europe are the main markets for renewable chemicals.
In 2016, Europe emerged as the largest renewable chemicals market, with North America and Asia Pacific in the first and second position respectively. Europe houses some of the top brands in the field of renewable chemicals, a factor that benefits the renewable chemicals market. The government in Europe has implemented a series of strict rules on use of petroleum and fossil fuel, which has promoted researchers as well as manufacturers to explore green technology. This factor would usher in massive revenues for the renewable chemicals market in the region.
North America could expect to witness reasonable growth with the strict regulations imposed, particularly in the United States (U.S.). These regulations are implemented so reduce the negative impact of fossil fuels on the environment. Also, abundance of raw materials in the region could benefit the manufacturers, bolstering the market’s growth in the near future.
Renewable Chemicals Market Table of Content:
1 Report Prologue
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
Renewable Chemicals Market List of Table to be Continue……,
Complete List of Tables and Figures @ https://www.marketresearchfuture.com/reports/renewable-chemicals-market-1047
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Name: Abhishek Sawant
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