New York, NY, April 17, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Renewable Chemicals Market (Ketones, Biopolymers, Alcohols, Organic Acids,  Platform Chemicals and Others) for Agriculture, Textiles, Housing, Environment, Transportation, Food & Beverage Packaging, Communication, Bio-Medical and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”. According to the report, global renewable chemicals market was valued at over USD 49.22 billion in 2016, is expected to reach above USD 102.76 billion in 2022 and is anticipated to grow at a CAGR of slightly above 11.29% between 2017 and 2022. 

Renewable chemicals are obtained using biomass feedstock. Renewable chemicals act as building blocks for the biobased products. Volatile fossil fuel prices have led to huge demand for renewable chemicals. Moreover, lowering dependency on the fossil oils as feedstock has resulted into elevated growth in renewable chemicals market.

Browse through 16 Tables & 21 Figures spread over 110 Pages and in-depth TOC on "Renewable Chemicals Market (Ketones, Biopolymers, Alcohols, Organic Acids, Platform Chemicals and Others) for Agriculture, Textiles, Housing, Environment, Transportation, Food & Beverage Packaging, Communication, Bio-Medical and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”.

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Constantly depleting fossil fuels has led to the high usage of eco-friendly renewable products. This factor is likely to propel the growth of the renewable chemicals market in near future. Growing environmental concerns and independence on nonrenewable sources has forced end users to opt for renewable chemicals which are expected to fuel the growth of the market. However, the high captive cost for renewable chemical production may impede the growth of the market. Moreover, lack of awareness among the underdeveloped economies may hinder the growth of the market. Nevertheless, ongoing research for attaining higher yields along with government funding for collaborations of various universities to uncap the renewable chemicals opportunities could provide ample scope for the renewable chemicals market in the forecast period.

The renewable chemical market is segmented on the basis of the product such as ketones, biopolymers, alcohols, organic acids, platform chemicals and others. Alcohols accounted for almost 75 % of the total market share in 2015 followed by biopolymers. The biopolymers can be further bifurcated into polyhydroxy alkanoates (PHA), starch blends, polylactic acid (PLA), regenerated cellulose, PBS, bio-PET, bio-PE. Among all, the starch blend constitutes around 30 % of the total biopolymers segment. A number of applications of the renewable chemicals owing to different properties are agriculture, textiles, housing, environment, transportation, food & beverage packaging, communication, biomedical and other applications. Food & beverage packaging dominated the renewable chemicals market owing to the high use of biopolymers in packaging. Regulations led to the food safety has led manufacturers to utilize eco-friendly biopolymers for packaging, this factor is expected to spur the growth of the renewable chemicals market in the forecast period. 

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Europe corned the renewable chemicals market in 2016 followed by North America and the Asia Pacific. Europe comprises of most of the major brands operating in the renewable chemicals market which is expected to spur the growth of the renewable chemicals market in this region. The European Government has posed various stringent rules on the use of petroleum and fossil fuel has enforced researchers and manufacturers to develop green technology. This factor may outset the huge growth of renewable chemicals market.

North America is likely to experience reasonable growth for renewable chemicals market. Strict regulations led by the U.S. government for the use of fossil fuels due to a negative impact on the environment. Moreover, plentiful of raw materials present in North America may act as an advantage for manufacturers. This factor may foster the growth of the renewable chemical market in this region.

Browse the full "Renewable Chemicals Market (Ketones, Biopolymers, Alcohols, Organic Acids,  Platform Chemicals and Others) for Agriculture, Textiles, Housing, Environment, Transportation, Food & Beverage Packaging, Communication, Bio-Medical and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022 " report at https://www.zionmarketresearch.com/report/renewable-chemicals-market

The Asia Pacific is expected to specter enormous growth for renewable chemicals market in the forecast period, owing to growing trend for renewable chemicals such as alcohols and biopolymers. Low regulations and relatively low labor cost in regions such as India and China may boost the growth of the renewable chemicals market in the Asia Pacific. Tremendously escalating industrialization and urbanization in emerging economies may amplify the growth of the renewable chemicals market in this region. Forthcoming technologies and various end-user applications such as food industry, transportation, and agriculture among others are expected to bolster the growth of the renewable chemicals market in coming years. Agriculture is the major livelihood in most of the parts in China and India and is predicted to maintain its pace. Therefore, growing agriculture sector is expected to further enhance the renewable chemicals market in coming years.

Latin America is expected to show modest growth in the coming years. Growing awareness for green and clean chemicals is anticipated to urge the growth of the renewable chemicals market in this region. The sharp rise in industrialization in Brazil may incite the growth of the renewable chemicals market in the forecast period.  The Middle East and Africa are projected to witness decent growth owing to abundant petroleum feedstock and availability of workforce is pulling the manufacturers to invest in this region.

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Corbion N.V., Mitsubishi Chemical Corporation, Myriant Corporation, Genomatica, Metabolix Inc., BASF, Braskem, BioMCN, NatureWorks LLC, DuPont Tate & Lyle Bio Products, Cobalt Technologies and BioAmber among others are some of the leading players operating in the renewable chemicals market.  

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This report segments the renewable chemicals market as follows:

Renewable Chemicals Market: Product Analysis

• Alcohols
• Ethanol
• Methanol
• Biopolymers
• Polyhydroxy alkanoates (PHA)
• Starch blends
• Polylactic acid (PLA)
• Regenerated cellulose
• PBS
• bio-PET
• bio-PE
• Ketones
• Platform chemicals
• Organic acids

Renewable Chemicals Market: Applications Analysis

• Agriculture
• Textiles
• Environment
• Transportation
• Food & beverage packaging
• Communication
• Bio-medical
• Other 

Renewable Chemicals Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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