Bio Renewable Chemicals Market

Fatpos Global has released a report labeled “Bio-Renewable Chemicals Market – Analysis of market, Share and Trends and Forecasts to 2030” which is expected to reach USD139.4 billion by 2030. As per the study by Fatpos Global, the market is projected to exhibit a CAGR of 10.80% between 2020 and 2030. As per the report, the rising demand for lactic acid and bio-plastics by the end-user industries is likely to drive the growth of the bio-renewable chemicals market.

Technological innovations, an inclination of the population towards eco-friendly products, and supportive government policies are some of the key points based on which the market has been analyzed, and each of them has a major role to play in the bio-renewable chemicals market.

The market report on global bio-renewable chemicals comprises the following in-depth visions:

• The market is projected to grow at a CAGR of 10.80% percent between 2020 and 2030.
• The rising demand for alcohol, green wrapping supplies, and consumer products packaging materials is expected to enhance the market growth throughout the forecast period.
• Under product, lactic acid is projected to generate the maximum revenue from 2020-to 2030.
• Under application, bio-plastic is expected to drive the highest amount of revenue between 2020 and 2030.
• Under region, North America is considered the fastest growing and the largest region in terms of producing and consuming bio-renewable chemicals.

“Firms and governments around the world are focusing on eco-friendly dealing. Furthermore, the shortage of non-renewable reserves also appeals to the shareholders in the bio-renewable chemicals market. A rise in demand for fossil fuels leads to rising in the price of fuel-related goods and so, to control the dependency, the demand for bio-renewable chemicals is rising”, says Fatpos Global.

Renewable chemicals, usually known as bio-based chemicals, are obtained from numerous renewable sources such as organic waste products, agricultural leftovers, agricultural feedstock, micro-organisms, and bio-mass. The bio-renewable chemical is a notion of “green chemistry” which uses a natural renewable source of power to generate specific chemicals.

The global bio-renewable chemicals market is segmented by product type into alcohol (ethanol, methanol), organic acids (succinic, lactic), bio-polymers (starch blends, regenerated cellulose, PBS, bio-PET, PLA, PHA), glycerin, and others. The market is segmented by application into transportation, textiles, food safety, environment, communication, housing, recreation, health & hygiene, bio-medical, agriculture, and others. The market is also segmented by end-users into industrial and domestic cleaners, paints and coatings, pharmaceuticals, and personal care products. The market is further segmented by region into North America, Latin America, Europe, and APAC.

Key Players in the Market

Some of the key players functioning in the global bio-renewable chemicals market are Evonik Industries, Solazyme, Myriant, Elevance Renewable Sciences, DuPont Biosciences (Genencor), Lanza Tech, Amyris, ZeaChem, Gevo, and BASF.

Get Valuable Insights into Bio-Renewable Chemicals Market

In the latest report, Fatpos Global thrives to present an unbiased analysis of the global bio-renewable chemicals market that covers the historical demand data as well as the forecast figures for the period 2020-2030. The study includes compelling insights into the growth that is observed in the market. The market is segmented by product into Alcohol (Ethanol, Methanol), Organic Acids (Succinic, Lactic), Biopolymers (Starch Blends, Regenerated Cellulose, PBS, Bio-PET, PLA, PHA), Glycerin, and Others (Bio-based, 3-PDO, ECH, 4-BDO).