Market size to reach USD 126.7 billion by 2026, a healthy outlook for the global renewable chemicals market

San Francisco, May 31, 2022 /PRNewswire/ — A new market research report from Global Industry Analysts, Inc. (GIA), a leading market research firm, released today titled “Renewable Chemicals – Global Market Trajectories and Analysis”. The report offers a fresh perspective on the opportunities and challenges in the post-COVID-19 market that is undergoing significant transformation.

Market size to reach USD 126.7 billion by 2026, a healthy outlook for the global renewable chemicals market

Market size to reach USD 126.7 billion by 2026, a healthy outlook for the global renewable chemicals market

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Version: 17; release: May 2022
Executive pool: 10413
company: 314 – Players covered include Amyris, Inc.; Archer Daniels Midland Corporation; Avantium Technologies; BASF Corporation; Corporation; Elevance Renewable Sciences, Inc.; Energy Corporation; Evonik Industries AG; Genomics Corporation; ; Royal DSM NV; Vilente Corporation; Yokogawa Electric Corporation; Zea2 LLC, etc.
Coverage: All major regions and key areas
Market segments: Product type (ethanol, ketones, biopolymers, platform chemicals, other product types); Feedstock (biomass, corn, sugarcane, algae, other feedstocks); End use (automotive, medical, food and beverage, petrochemical, textile) , agriculture, other end uses)
Geographical location: world; U.S.; Canada; Japan; China; Europe; France; Germany; Italy; U.K; Spain; Russia; the remaining Europe; Asia Pacific; Australia; India; South Korea; the remaining Asia Pacific; Latin America; Argentina; Brazil; Mexico; the remaining Latin America; middle East; Africa.

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Abstract-

Amid the COVID-19 crisis, the global renewable chemicals market is estimated at $80.2 billion By 2022, it is expected to reach the revised size $126.7 billion To 2026, to grow at a CAGR of 10.8% during the analysis period. Ethanol, one of the segments analyzed in the report, is expected to grow at a CAGR of 10.8%, while the ketones segment is adjusted for a revised 9.7% growth rate. Renewable chemicals are expected to be significantly stimulated by the bio-based wave, increased investment in sustainable materials, increased consumer awareness, and policy pressures to reduce the use of fossil-intensive products. The bio-based wave has experienced a huge boost from the COVID-19 pandemic, and there is an urgent need to adopt sustainable options, including renewable chemicals. The crisis has led governments, industry players and consumers to focus on green alternatives to regulate hazardous chemicals and related waste. These efforts are in line with ongoing programs aimed at restoring nature and reversing biodiversity. Consumers and client companies are increasingly concerned about sustainable and environmentally friendly products, which has prompted a large number of players in the chemical industry to focus on effective measures to control carbon emissions and the resulting pollution. Stakeholders across the industry may make serious efforts to reduce greenhouse gas emissions through the value chain.

Companies tend to use bio-based raw materials that are not inherently carbon-intensive and employ technologies to reduce emissions associated with product use and disposal. In recent years, the bio-based sector has experienced significant investment in sophisticated green and carbon capture technologies. Companies in the plastics industry are rethinking existing manufacturing and packaging methods to reduce waste and carbon emissions. Renewable chemicals are expected to further benefit from increasing policy pressure. The United Nations is working to tackle growing pollution and keep waste plastic out of the environment. Furthermore, the European Green Deal is expected to impact the chemical industry and pave the way for sustainable products. The U.S. Toxic Substances Control Act may support green choices and risk reduction efforts.

Amid the COVID-19 crisis, the bio-based industry has shown relatively good resilience and has experienced continued investment by players in R&D and products, including renewable chemicals. Several companies have committed and invested in factories to provide bio-based products that meet their sustainability goals. Unilever is looking to convert all its products to be biodegradable, while the BMW Group plans to focus on renewable materials. Companies such as Unilever and US-based eco-friendly footwear brand Allbirds will use bio-based materials and invest heavily in green options.Blascom BrazilBiopolymer-based suppliers are investing heavily in bio-based products made from sugar cane. The company is expected to push the production of biopolymers at its Rio Grande do Sul facility, a sign of the company’s emphasis on using raw materials obtained from renewable sources. The company’s investment in biopolymers aligns with sustainability and circular economy goals. In another development, Neste FinlandRenewable diesel-based producers are ramping up renewable fuel-related capacity.The company acquired a Netherlands Refinery based and expanding its capacity Singapore– Refinery.

Neste is investing in a Rotterdam The refinery produces environmentally friendly aviation fuel. The company has always focused on research and development activities to explore new technologies and raw materials. Bio-based investments have also seen significant growth in the United States.Amiris, a CaliforniaPlayers based on renewable chemistry are betting big on synthetic biology and related platforms. The demand for clean beauty products caused by COVID-19 has prompted the company to seize opportunities and invest in manufacturing operations, product portfolios and ingredients. Companies such as San Francisco Bay-based renewable bioproducts producer Mango Materials are benefiting from the growing interest in alternatives to biomaterials related to polyester and plastic. The pandemic has created strong demand for biodegradable and bio-based materials, which has encouraged companies to invest in biomanufacturing technologies. The crisis has prompted a large number of consumers to change their lifestyles and focus on sustainability. This trend is delivering significant benefits for players producing green packaging using mycelium and other sustainable options.

The renewable chemicals industry is increasingly global. New legislation and increasing environmental awareness are expected to have a profound impact on the demand for various chemicals, which in turn will create opportunities for renewable chemicals. The renewable chemicals market includes all chemicals derived from renewable feedstocks, including microorganisms, agricultural waste/biomass, forestry waste, and agricultural raw materials. Due to the risk of volatile crude oil prices, some companies are increasingly shifting from petrochemical feedstocks to renewable feedstocks, further intensifying competition in the market. Hence, major players are working hard to strengthen their market presence by developing innovative cutting-edge technologies and strategic alliances. Key market players in the renewable chemicals market include university spin-off companies and agricultural companies. The future impact of renewable chemicals on the traditional chemicals industry is expected to be substantial, and the current situation is expected to change as traditional chemical giants focus on the potential of this field more than just a passing interest. In other words, the growing opportunity in the renewable chemicals space will see an influx of new players, especially large traditional chemical companies.

Biofuel companies are also focusing on high value-added renewable chemicals that offer better value propositions. Additionally, biofuel companies are expected to enter the renewable chemicals market due to the need to diversify into safe, high-value, higher-priced by-product markets to finance the high up-front capital costs required to operate in the biofuel market. As biofuel companies begin to diversify their product lines to include renewable chemicals, the companies will use biofuel-focused stimulus funding to fund the development of renewable chemicals. This will help alleviate the current investment issues facing government funding for renewable chemicals. As such, increased levels of partnerships, alliances, technology collaboration/sharing, joint ventures, mergers and acquisitions are expected to gather momentum in the coming years. more

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