The Renewable Chemicals Market size was USD 117.95 billion in 2022 and is expected to Reach USD 277.75 Billion by 2030 and grow at a CAGR of 11.3 % over the forecast period of 2023-2030.
Renewable chemicals, also referred to as "bio-based chemicals," are those made from renewable resources such as agricultural waste, organic waste products, agricultural feedstock, trash, microorganisms, and biomass. Growing consumer awareness of rising environmental concerns, such as net-zero emission standards, is the main cause of the increase in the market size for renewable chemicals. Due to their lower carbon content and environmentally beneficial traits, renewable chemicals have become potential alternatives to petroleum-based chemicals. Polyhydroxy alkenoates and polylactic acid (PLA), which may be made from nontoxic renewable feedstock, are two of the most promising biopolymers. Demand for renewable chemicals has recently increased as a result of strict environmental laws relating to the production and disposal of petrochemicals by regulatory agencies including the EPA, REACH, and the European Commission. Renewable chemicals are also anticipated to be supplemented by an increase in the commercial and industrial preference for renewable resources for producing completed goods like plastics, pharmaceuticals, and other medical products. The crisis of climate change and the growing importance of the circular economy promotes research and development of renewable chemicals. To lessen their reliance on imported fossil fuels, nations all over the world are promoting the use of chemicals. Additionally, a number of producers and researchers are concentrating on new technology that might displace fossil fuels, providing lucrative opportunities to market participants between 2023 and 2030. The market for renewable chemicals will continue to increase as consumers' preferences for eco-friendly and natural products increase and there is growing awareness of the need to minimize carbon footprints in order to address problems like landfills and global warming.
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Drivers
The market for renewable chemicals is expanding due to factors such as the rising population, industrialization, and urbanization
Renewable chemicals are now being used more frequently in sectors like the food and beverage, pharmaceutical, and automotive industries
The drivers are the growing use of renewable alcohol for industrial purposes, including fuel, solvents, and fuel additives, as well as beverages. Alcohol consists of methanol and ethanol. Ethanol is used as an oxygenated additive for gasoline. Alcohols now account for the greatest market share of all renewable chemicals, and due to their widespread availability and expanding application potential across numerous industries, they are predicted to have rapid growth rates.
Restrain
The higher cost when compared to conventional polymer
High-cost construction and Feedstock investment may reduce the growth and usage of renewable chemicals
Opportunities
Government initiatives for increasing awareness about environmental concerns for eco-friendly production and disposal of petrochemicals
A rise in demand for renewable chemicals has been caused by the depletion of fossil fuels and technological developments in green chemistry. Demand for renewable chemicals has recently increased as a result of strict environmental laws related to the production and disposal of petrochemicals by regulatory agencies including the EPA, REACH, and the European Commission. Globally, the usage of renewable chemicals has drastically increased as a result of numerous severe restrictions and government attempts to better the environment. The use of renewable energy and the decarbonization of transportation have come under more and more scrutiny.
Challenges
The Huge capital requirement and competition from start-ups and small companies
The higher upfront cost of construction and feedstock investment may prevent the growth and implementation of renewable chemicals, particularly in areas where the potential exists but investors are lacking. There are many regions where higher construction costs cause institutions to view renewable chemical projects as risky, resulting in a negative attitude towards renewables that could impact thousands of lives.
Russia's invasion of Ukraine has negatively impacted every developed economy. It has disrupted the supply and trade chains due to infrastructure damage in Ukraine. One of Ukraine's key economic sectors is the chemical industry. The chemical industry in Ukraine consists of more than 1,600 businesses and structural units in the chemical, petrochemical, and pharmaceutical subsectors. A large fire has been started at a chemical facility in the besieged eastern Ukrainian city as a result of Russian forces shelling. The war in Ukraine has pushed up feedstock and energy costs for chemical producers. Increasing fuel costs are causing inflation, leading to high freight rates. Additionally, safety worries have hampered air and land transportation routes across Russia and Ukraine, increasing the cost of rerouting.
High inflation during the previous two years has caused a general price increase in industrialized economies all across the world. Over the projected period, it is predicted that volatile crude oil prices will contribute to high finished petrochemicals prices. The chemical business is undoubtedly one of these resilient players; chemical producers provide ingredients to the most extensive and most varied consumer base on the planet, from agricultural products to pharmaceuticals, to cosmetics, plastics, industrial items, and food. The chemical industry is undoubtedly impacted by rising energy and material costs. Still, as long as chemical suppliers can pass along at least some of the increased costs to their customers, their businesses can continue to be profitable even during the most difficult economic circumstances. Despite persistent issues like supply.
By Product Type
Alcohols
Biopolymers
Ketones
Platform Chemicals
Organic Acids
Polyhydroxy Alkanoates (PHA)
Starch Blends
Regenerated Cellulose
By Feedstock
Sugarcane
Biomass
corn
Algae
Others
By Application
Agriculture
Textiles
Communication
Bio-Medical
Housing
Environment
Transportation
Food and Beverage Packaging
Other
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Europe dominates the market in terms of market share and revenue and will continue to flourish its dominance due to the presence of stringent regulations and favourable government regulations within the region within the region.
The supply chain for local goods in another region is anticipated to grow as a result of the abundant raw material availability, notably in regions of North and Latin America including the United States, Brazil, and Argentina.
Asia-Pacific is estimated to show productive growth over the upcoming years, due to the growing concerns regarding the environment and the rising chemical demand in the region. Asia-Pacific has improved extraction methods and increased the supply of vegetable sources for chemical production. Greater demand for sustainable chemicals from industries such as packaging and pharmaceuticals supports the market growth in the region.
Regional Coverage
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin American
Amyris, NatureWorks LLC, BASF SE, Evonik Industries AG, Mitsubishi Chemical Holdings Corporation, Corbion N.V., Solvay, Genomatica Inc., LLC, DuPont Tate & Lyle Bio Products, Mitsui Chemicals Inc., and the other key players mentioned in the final report.
Praj industries- In 2023, Axens and Praj Industries signed an MOU to collaborate on initiatives in India for the manufacture of Sustainable Aviation Fuel (SAF) from low-carbon alcohols through the Alcohol-to-Jet (ATJ) pathway. The company's BioPrismTM portfolio of technologies, which promises sustainability while rethinking nature, includes technology to manufacture renewable chemicals and materials.
| Report Attributes | Details |
| Market Size in 2022 | US$ 117.95 Bn |
| Market Size by 2030 | US$ 277.75 Bn |
| CAGR | CAGR of 11.3 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product Type (Alcohols, Biopolymers, Ketones, Platform Chemicals, Organic Acids Polyhydroxy Alkanoates (PHA), Starch Blends, Polylactic Acid (PLA), Regenerated Cellulose) • By Feedstock (Sugarcane, Biomass Corn, Algae, Others) • By Application (Agriculture, Textiles, Communication, Bio-Medical, Housing, Environment, Transportation, Food and Beverage Packaging, Other) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Amyris, NatureWorks LLC, BASF SE, Evonik Industries AG, Mitsubishi Chemical Holdings Corporation, Corbion N.V., Solvay, Genomatica Inc., LLC, DuPont Tate & Lyle Bio Products, Mitsui Chemicals Inc. |
| Key Drivers | • The market for renewable chemicals is expanding due to factors such as the rising population, industrialization, and urbanization. • Renewable chemicals are now being used more frequently in sectors like the food and beverage, pharmaceutical, and automotive industries. |
| Market Opportunities | • Government initiatives for increasing awareness about environmental concerns for eco-friendly production and disposal of petrochemicals. |
Ans. USD 277.75 Billion is the projected Renewable Chemicals market size of market by 2030.
Ans. The CAGR Growth rate of Renewable Chemicals Market over the forecast period is 11.3%.
Ans. Europe is the fastest growing region of the Renewable Chemicals Market.
Ans. The Huge capital requirement and competition from start-ups and small companies.
Ans. On the basis of Application are segmented as Agriculture, Textiles, Communication, Bio-Medical, Housing, Environment, Transportation, Food and Beverage Packaging, Other.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Ukraine- Russia War
4.2 Impact of Ongoing Recession
4.3. Introduction
4.3.1 Impact on major economies
4.3.1.1 US
4.3.1.2 Canada
4.3.1.3 Germany
4.3.1.4 France
4.3.1.5 United Kingdom
4.3.1.6 China
4.3.1.7 Japan
4.3.1.8 South Korea
4.3.1.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Renewable Chemicals Market Segmentation, By Product Type
8.1 Alcohols
8.2 Biopolymers
8.3 Ketones
8.4 Platform Chemicals
8.5 Organic Acids
8.6 Polyhydroxy Alkanoates (PHA)
8.7 Starch Blends
8.8 Polylactic Acid (PLA)
8.9 Regenerated Cellulose
9. Renewable Chemicals Market Segmentation, By Feedstock
9.1 Sugarcane
9.2 Biomass Corn
9.3 Algae
9.4 Others
10. Renewable Chemicals Market Segmentation, By Application
10.1 Agriculture
10.2 Textiles,
10.3 Communication
10.4 Bio-Medical
10.5 Housing, Environment
10.6 Transportation
10.7 Food and Beverage Packaging,
10.8 Other
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Renewable Chemicals Market by Country
11.2.2North America Renewable Chemicals Market by Type
11.2.3 North America Renewable Chemicals Market by Feedstock
11.2.4 North America Renewable Chemicals Market by Application
11.2.5 USA
11.2.5.1 USA Renewable Chemicals Market by Type
11.2.5.2 USA Renewable Chemicals Market by Feedstock
11.2.5.3 USA Renewable Chemicals Market by Application
11.2.6 Canada
11.2.6.1 Canada Renewable Chemicals Market by Type
11.2.6.2 Canada Renewable Chemicals Market by Feedstock
11.2.6.3 Canada Renewable Chemicals Market by Application
11.2.7 Mexico
11.2.7.1 Mexico Renewable Chemicals Market by Type
11.2.7.2 Mexico Renewable Chemicals Market by Feedstock
11.2.7.3 Mexico Renewable Chemicals Market by Application
11.3 Europe
11.3.1 Europe Renewable Chemicals Market by Country
11.3.2 Europe Renewable Chemicals Market by Type
11.3.3 Europe Renewable Chemicals Market by Feedstock
11.3.4Europe Renewable Chemicals Market by Application
11.3.5Germany
11.3.5.1 Germany Renewable Chemicals Market by Type
11.3.5.2 Germany Renewable Chemicals Market by Feedstock
11.3.5.3 Germany Renewable Chemicals Market by Application
11.3.6 UK
11.3.6.1 UK Renewable Chemicals Market by Type
11.3.6.2 UK Renewable Chemicals Market by Feedstock
11.3.6.3 UK Renewable Chemicals Market by Application
11.3.7 France
11.3.7.1 France Renewable Chemicals Market by Type
11.3.7.2 France Renewable Chemicals Market by Feedstock
11.3.7.3 France Renewable Chemicals Market by Application
11.3.8 Italy
11.3.8.1 Italy Renewable Chemicals Market by Type
11.3.8.2 Italy Renewable Chemicals Market by Feedstock
11.3.8.3 Italy Renewable Chemicals Market by Application
11.3.9 Spain
11.3.9.1 Spain Renewable Chemicals Market by Type
11.3.9.2 Spain Renewable Chemicals Market by Feedstock
11.3.9.3 Spain Renewable Chemicals Market by Application
11.3.10 The Netherlands
11.3.10.1 Netherlands Renewable Chemicals Market by Type
11.3.10.2 Netherlands Renewable Chemicals Market by Feedstock
11.3.10.3 Netherlands Renewable Chemicals Market by Application
11.3.11 Rest of Europe
11.3.11.1 Rest of Europe Renewable Chemicals Market by Type
11.3.11.2 Rest of Europe Renewable Chemicals Market by Feedstock
11.3.11.3 Rest of Europe Renewable Chemicals Market by Application
11.4 Asia-Pacific
11.4.1 Asia Pacific Renewable Chemicals Market by Country
11.4.2Asia Pacific Renewable Chemicals Market by Type
11.4.3 Asia Pacific Renewable Chemicals Market by Feedstock
11.4.4 Asia Pacific Renewable Chemicals Market by Application
11.4.5 Japan
11.4.5.1 Japan Renewable Chemicals Market by Type
11.4.5. 2Japan Renewable Chemicals Market by Feedstock
11.4.5. 3Japan Renewable Chemicals Market by Application
11.4.6 South Korea
11.4.6.1 South Korea Renewable Chemicals Market by Type
11.4.6.2. South Korea Renewable Chemicals Market by Feedstock
11.4.6.3. South Korea Renewable Chemicals Market by Application
11.4.7China
11.4.7.1 China Renewable Chemicals Market by Type
11.4.7.2. China Renewable Chemicals Market by Feedstock
11.4.7.3. China Renewable Chemicals Market by Application
11.4.8 India
11.4.8.1 India Renewable Chemicals Market by Type
11.4.8.2. India Renewable Chemicals Market by Feedstock
11.4.8.3 India Renewable Chemicals Market by Application
11.4.9Australia
11.4.8.1 Australia Renewable Chemicals Market by Type
11.4.8.2. Australia Renewable Chemicals Market by Feedstock
11.4.8.3. Australia Renewable Chemicals Market by Application
11.4.10Rest of Asia-Pacific
11.4.10.1 APAC Renewable Chemicals Market by Type
11.4.10.2. APAC Renewable Chemicals Market by Feedstock
11.4.10.3. APAC Renewable Chemicals Market by Application
11.5 The Middle East & Africa
11.5.1 The Middle East & Africa Renewable Chemicals Market by Country
11.5.2 The Middle East & Africa Renewable Chemicals Market by Type
11.5.3The Middle East & Africa Renewable Chemicals Market by Feedstock
11.5.4The Middle East & Africa Renewable Chemicals Market by Application
11.5.5Israel
11.5.5.1 Israel Renewable Chemicals Market by Type
11.5.5.2 Israel Renewable Chemicals Market by Feedstock
11.5.5.3 Israel Renewable Chemicals Market by Application
11.5.6 UAE
11.5.6.1 UAE Renewable Chemicals Market by Type
11.5.6.2 Israel Renewable Chemicals Market by Feedstock
11.5.6.3 Israel Renewable Chemicals Market by Application
11.5.7South Africa
11.5.7.1 South Africa Renewable Chemicals Market by Type
11.5.7.2 South Africa Renewable Chemicals Market by Feedstock
11.5.7.3 South Africa Renewable Chemicals Market by Application
11.5.8 Rest of Middle East & Africa
11.5.8.1 Rest of Middle East & Asia Renewable Chemicals Market by Type
11.5.8.2 Rest of Middle East & Asia Renewable Chemicals Market by Feedstock
11.5.8.3 Rest of Middle East & Asia Renewable Chemicals Market by Application
11.6 Latin America
11.6.1 Latin America Renewable Chemicals Market by Country
11.6.2. Latin America Renewable Chemicals Market by Type
11.6.3 Latin America Renewable Chemicals Market by Feedstock
11.6.4 Latin America Renewable Chemicals Market by Application
11.6.5 Brazil
11.6.5.1 Brazil Renewable Chemicals Market by Type
11.6.5.2 Brazil Renewable Chemicals Market by Feedstock
11.6.5.3Brazil Renewable Chemicals Market by Application
11.6.6 Argentina
11.6.6.1 Argentina Renewable Chemicals Market by Type
11.6.6.2 Argentina Renewable Chemicals Market by Feedstock
11.6.6.3 Argentina Renewable Chemicals Market by Application
11.6.7 Rest of Latin America
11.6.7.1 Rest of Latin America Renewable Chemicals Market by Type
11.6.7.2 Rest of Latin America Renewable Chemicals Market by Feedstock
11.6.7.3Rest of Latin America Renewable Chemicals Market by Application
12 Company Profile
12.1 Mitsubishi Chemical Holdings Corporation
12.1.1 Market Overview
12.1.2 Financials
12.1.3 Type/Process/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 BASF SE
12.2.1 Market Overview
12.2.2 Financials
12.2.3 Type/Process/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 BioAmber
12.3.1 Market Overview
12.3.2 Financials
12.3.3 Type/Process/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Amyris
12.4.1 Market Overview
12.4.2 Financials
12.4.3 Type/Process/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Praj industries
12.5.1 Market Overview
12.5.2 Financials
12.5.3 Type/Process/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Corbion Nv
12.6.1 Market Overview
12.6.2 Financials
12.6.3 Product Type/Application/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7. Genomatica Inc.
12.7.1 Market Overview
12.7.2 Financials
12.7.3 Product Type/Application/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Evonik Industries AG
12.8.1 Market Overview
12.8.2 Financials
12.8.3 Product Type/Application/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 NatureWorks LLC
12.9.1 Market Overview
12.9.2 Financials
12.9.3 Product Type/Application/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Mitsui Chemicals Inc.
12.10.1 Market Overview
12.10.2 Financials
12.10.3 Product Type/Application/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. USE Cases and Best Practices
15. Conclusion
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