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Renewable Chemicals Market Report : By Size, Trends And Forecast 2023-2032 | Amyris Inc., BASF SE, Bioamber Inc., Braskem SA, Cargill Inc.
Renewable Chemicals Market Trends
The Business Research Company's Renewable Chemicals Global Market Report 2023 identifies increasing demand from the automotive industry as the major driver for the Renewable Chemicals market's growth in the forecast period. The production of automobiles utilizes biopolymers from renewable sources engineered for automotive applications. For instance, according to May 2022 data from the Society of Indian Automobile Manufacturers (SIAM), an India-based non-profit organization representing automobile manufacturers, the production of automobiles has increased in the last two years, with total production increasing from 22,655,609 units in 2020-21 to 22,933,230 units in 2021-22. According to a May 2022 report by the China Association of Automobile Manufacturers, a China-based non-profit social organization, automobile sales in China grew to 27.5 million in 2022, up 5.4%.
The global renewable chemicals market size is expected to grow from $94.85 billion in 2022 to $105.95 billion in 2023, at a compound annual growth rate (CAGR) of 11.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The renewable chemicals market is expected to reach $165.56 billion in 2027 at a compound annual growth rate (CAGR) of 11.8%.
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Major competitors in the Renewable Chemicals market are Archer-Daniels-Midland Company, Amyris Inc., BASF SE, Bioamber Inc., Biomethanol Chemie Nederland B.V., Braskem SA, Cargill Inc., Corbion N.V., Evonik Industries AG, Genomatica Inc., Koninklijke DSM N.V., Metabolix Inc., Verenium Corporation, Beta Renewables SpA, and Braskem SA.
A key trend in the renewable chemicals market includes product innovation. Major companies operating in the renewable chemicals market are focused on technological advancements to strengthen their position in the market. For instance, in March 2022, Evonik Industries, a Germany-based specialty chemicals company, launched sustainable isophorone products made from 100% renewable acetone. The company offers products with a significantly lower CO2 footprint across all stages. The new products in the eCO Grades range are designed to be used as sustainable raw materials for paints, lacquers, binders, and interiors in the automobile industry.
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The Renewable Chemicals market is segmented -
By Product Type: Ethanol, Biopolymers, Platform Chemicals, Other Product Types
By Feedstocks: Biomass, Corn, Sugarcane, Algae, Other Feedstocks
By End-Use: Automotive, Medical, Food and Beverages, Petrochemicals, Textiles, Agriculture, Other End-Use
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Renewable Chemicals market.
The Business Research Company's "Global Renewable Chemicals Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Renewable Chemicals Market Include:
1. Executive Summary
2. Renewable Chemicals Market Characteristics
3. Renewable Chemicals Market Trends And Strategies
4. Renewable Chemicals Market - Macro Economic Scenario
5. Renewable Chemicals Market Size And Growth
……
26. Africa Renewable Chemicals Market
27. Renewable Chemicals Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Renewable Chemicals Market
29. Renewable Chemicals Market Future Outlook and Potential Analysis
30. Appendix
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