Global Renewable Chemicals Market to reach USD 146.8 billion by 2025.
Global Renewable Chemicals Market valued approximately USD 61.5 billion in 2017 is anticipated to grow with a healthy growth rate of more than 11.5% over the forecast period 2018-2025. The Renewable chemicals are enhancing the deployment of renewable sources of energy due to rising environmental concerns. Rising environmental awareness among people is raising the adoption of bio-based products produced from renewable feedstock such as biomass, agricultural raw materials and microorganisms.
Cost-effectiveness and easy availability of feedstock required for producing renewable chemicals and government initiatives to promote sustainable forms of energy resources are the key drivers of renewable chemicals market. Further, chemicals can be easily converted into the products and the conversion is efficient in improving the production capacity that offers lucrative opportunities to the marketers. However, fluctuating prices of crude oil across the world is expected to hinder the market growth during the forecast period.
On the basis of segmentation, the Renewable Chemicals market is segmented into product type and application. The product type segment is classified into bio-based chemicals, platform chemicals and biopolymers. The application segment is classified into agriculture, fertilizers, environment, industrial, textiles, housing, food-packaging and beverage bottling, recreation, transportation, health and hygiene and bio-medicals. The product type segment is anticipated to dominate the Renewable Chemicals market considering the forthcoming years and the global scenario.
The regional analysis of Global Renewable Chemicals Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the fastest growing region across the world in terms of market share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to be the dominating region over the forecast period 2018-2025.
The Renewable Chemicals Market report mainly includes the major company profiles with their annual sales & revenue, business strategies, company major products, profits, industry growth parameters, industry contribution on a global and regional level. This report covers the global Renewable Chemicals Market performance in terms of value and sales volume contribution. In-depth information on manufacturer share, business revenue, price, and gross profit & margin, product figure, product advantage and disadvantage comparison & many more for business intelligence.
The Renewable Chemicals Market research report covers the present scenario and the growth prospects of the global Renewable Chemicals Market industry. The report enlists several important factors, starting from the basics to advanced Market intelligence which plays a crucial part in strategizing. Geographical Breakdown based on the growth rate, macroeconomic parameters, consumer buying patterns, and Market demand and supply scenarios. The report provides an in-depth insight into the global Renewable Chemicals Market industry covering all important parameters that cover Market Challenge, Driver, and Key Economic Indicators of Countries, Business Revenue Share, Distribution by Region, Downstream Consumer, and Cost Structure & Forecast.