Renewable chemicals are used for enhancing the use of renewable resources rather than fossil fuels. Renewable chemicals include all the chemicals which are produced from renewable feedstock such as microorganisms, biomass (plant, animal, and marine), and agricultural raw materials. Strict government regulations, environmental concerns and awareness among people are enhancing the use of bio-based products produced from biomass sources, which in turn is expanding the market for renewable chemicals.
The renewable chemicals market is expanding primarily due to the strict regulations imposed by regulatory authorities to curb environmental damage, the abundance of renewable chemicals, and the consumer’s inclination towards using eco-friendly products. The high cost and certain issues related to the production of renewable chemicals are the factors that are hampering the growth of this market.
Presently Europe forms the largest market for renewable chemicals, but Asia-Pacific is driving the market growth, and is expected to dominate the renewable chemicals market by 2018. Due to the rise in energy requirements, increase in population, and improving economic conditions in the Asia-Pacific region, the demand for renewable chemicals is expected to grow in this region.
Renewable chemicals are used in various applications across different industries such as in food processing, housing, textiles, environment, transportation, hygiene, pharmaceutical, and other applications. Renewable chemicals are primarily available as ketones, alcohols, organic acids, and bio-polymers. They are used in surfactants and lubricants, consumer goods, resins, and plastics for environmental purpose.
There are various technologies available which are used for producing renewable chemicals from biomass and include enzymatic hydrolysis, thermo-chemical conversion, dehydrative transformation, production of Fischer-Tropsch diesel, fermentation and bioconversion, reductive transformation, product separation and bioconversion, acid hydrolysis, and gasification/fermentation.
Some of the major players that deal in renewable chemicals include BASF, Dow Chemicals, E. I. Dupont De Nemours & Company, Cargill Incorporated, Degussa Evonik, Arkenol Inc, Group, Chevron Corporation, Verenium Corporation, Novozymes, and PureVision Technology Inc.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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