Renewable Chemicals Market Size, Trends and Insights  By Feedstock (Corn, Sugarcane, Biomass, Algae, Others), By Product (Ethanol, Methanol, Ketones, Glycerol, Organic Acids, Bio-Polymers, Platform Chemicals, Others),  By End-Use Industry (Petrochemical, Food & Beverage, Automotive, Chemical, Agricultural, Packaging, Textile, Medical, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI40504

Published Date: February 2024

Pages: 320+

Category: Chemicals And Materials

Report Snapshot

CAGR: 11.3%
120.4B
2022
124.6B
2023
270.8B
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • BASF SE
  • Mitsubishi Chemical Holdings Corporation
  • Braskem
  • OCI N.V.
  • Solvay
  • Corbion N.V.
  • Others

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Reports Description

Global Renewable Chemicals Market was valued at USD 124.6 Billion in 2023 and is expected to reach USD 270.8 Billion by 2032, at a CAGR of 11.3% during the forecast period 2023 – 2032.

Renewable chemicals are derived from sustainable feedstocks such as biomass, agricultural residues, or waste materials, offering an eco-friendly alternative to traditional petrochemicals.

These substances can be used in the production of various materials, including plastics, solvents, and biofuels, reducing reliance on fossil fuels and mitigating environmental impact.

Renewable Chemicals Market – Significant Growth Factors

Rising consumption of renewable alcohol for industrial application

The escalating demand for renewable alcohol in industrial applications propels the growth of the renewable chemicals market. Renewable alcohol, often derived from bio-based feedstocks, serves as a key raw material for producing sustainable chemicals.

Industries increasingly favour these eco-friendly alternatives to conventional petrochemicals, driven by environmental concerns and regulatory pressures. As the consumption of renewable alcohol rises, it fuels innovation and investment in the renewable chemicals sector, stimulating the development of greener solutions.

This surge in demand not only aligns with sustainability goals but also fosters a transition towards more environmentally conscious industrial practices, contributing to the expansion of the renewable chemicals market. For instance, in March 2022, emerging companies are positioning chemical-based recycling technologies for major fiber, encompassing cotton and synthetic materials like polyester and nylon.

In 2020, global fiber production reached 109 million tons, with polyester constituting over half and cotton around a quarter, as reported by Textile Exchange.

Growing demand for bio-based polymer fuel market growth

The surging demand for bio-based polymers is a pivotal driver propelling the renewable chemicals market. Bio-based polymers, sourced from renewable feedstocks like biomass, present a greener and more eco-friendly option.

These polymers, often used in various applications, including packaging and automotive industries, contribute to reducing the reliance on traditional petrochemicals. Manufacturers increasingly turn to renewable feedstocks and processes to produce these bio-based polymers, creating a positive feedback loop.

This demand-driven dynamic not only stimulates innovation and investment in the renewable chemicals sector but also reinforces the overall transition towards a more sustainable and eco-friendly industrial landscape. The symbiotic relationship between bio-based polymers and renewable chemicals underscores their pivotal role in driving the green revolution across diverse industries.

For instance, in October 2022, CoEI established an advanced laboratory to modify biopolymers. To diversify its usage across various sectors, including packaging, food service, consumer goods, agriculture, textiles, electronics, and energy storage.

Renewable Chemicals Market – Restraints

Complex manufacturing processes increase product cost

The renewable chemicals market faces challenges due to the complexity of manufacturing processes, which contributes to increased product costs and impedes overall growth. The intricate procedures involved in deriving chemicals from renewable sources often demand advanced technologies and specialized equipment, driving up production expenses.

These elevated costs can discourage widespread adoption as industries may find it economically challenging to transition from conventional, cheaper alternatives. Moreover, the need for additional infrastructure and skilled labour to manage complex processes further adds to the overall expenses. As a result, the higher upfront costs associated with manufacturing renewable chemicals become a barrier, hindering market growth.

Addressing these cost challenges through research, technological innovations, and economies of scale will be crucial to making renewable chemicals more competitive and facilitating their broader integration into mainstream industries.

Global Renewable Chemicals Market 2023–2032 (By Feedstock)

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Stringent rules for approval of Renewable Chemicals

Stringent rules for the approval of renewable chemicals pose a challenge to the industry. Several key considerations and rules typically govern the approval process:

  • Product Performance and Quality Standards: Regulatory bodies may set performance and quality standards for renewable chemicals to ensure they meet or exceed the efficacy of traditional counterparts.
  • Biodegradability and Decomposition Studies: Facilities involved in renewable chemicals production must implement effective emission control measures to minimize the release of pollutants during manufacturing processes.
  • Regulatory Compliance Assessment: Companies must assess their products against existing regulations and standards related to chemicals in the target market. Conduct rigorous testing to validate the performance, safety, and environmental impact of the renewable chemicals.

Renewable Chemicals Market – Opportunities

Rising awareness of sustainable products to reduce pollution

The escalating awareness of sustainable products is a driving force behind the growth of the renewable chemicals market. Consumers, driven by environmental consciousness, actively seek eco-friendly alternatives.

This heightened awareness influences purchasing decisions, prompting industries to adopt renewable chemicals in response to market demands. Companies increasingly prioritize sustainability to enhance their brand image and meet evolving consumer expectations.

Additionally, stringent environmental regulations further encourage the adoption of renewable chemicals. As awareness continues to rise, the market experiences sustained growth, fostering innovation and investment in sustainable practices to meet the demand for environmentally responsible products.

This collective push toward sustainability, fuelled by consumer awareness and regulatory measures, not only shapes purchasing behaviours but also fosters a transformative impact on the renewable chemicals market. The governments of several economies implemented strict regulations related to carbon and greenhouse gas emissions to promote high quality environment.

For instance, the European Commission aims to achieve an 80% reduction in the carbon emission by 2050. The regulatory bodies, such as REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals), EPA (Environmental Protection Agency), and European Commission impose strict environmental regulations on the production and disposal of petrochemicals.

For instance, in August 2023, Noah Chemicals was a key player in sustainable chemical production, and actively embraced advanced methodologies. A notable trend in sustainable chemical manufacturing is the increasing adoption of renewable feedstocks and bio-based chemicals.

Global Renewable Chemicals Market 2023–2032 (By Product)

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Renewable Chemicals Market – Segmentation Analysis

Renewable Chemicals market is segmented by type, application, and region.  Based on type, the market is classified into alcohols, organic acids, ketones, biopolymers, and others. Alcohols dominated the market in 2022 with a market share of 35% and are expected to keep their dominance during the forecast period 2024-2032.

Alcohol plays a pivotal role in propelling the renewable chemicals market, serving as a key feedstock for sustainable production. Derived from renewable sources like biomass, alcohol becomes a versatile building block for various eco-friendly chemicals. Its utilization in manufacturing processes, particularly in the production of bioplastics, solvents, and biofuels, reduces dependence on fossil fuels.

As global industries increasingly prioritize environmental responsibility, the demand for renewable alcohol escalates, driving innovation and investment in the renewable chemicals sector. This trend aligns with sustainability goals, fostering a transition towards greener, more environmentally conscious industrial practices and contributing to the overall growth of the renewable chemicals market.

Based on application, the market is classified into transportation, textiles, petrochemicals, packaging, agriculture and others. The transportation segment dominated the market in 2022 with a market share of 30% and is expected to keep its dominance during the forecast period 2024-2032. Transportation plays a pivotal role in propelling the renewable chemicals market forward.

The shift towards sustainable and bio-based materials in transportation fuels and lubricants is a key driver. As the automotive and aviation industries seek to reduce their carbon footprint, there’s a growing demand for renewable chemicals as feedstocks for biofuels. This includes ethanol, biodiesel, and advanced biofuels derived from renewable sources, providing a cleaner and more sustainable alternative to traditional fossil fuels.

Moreover, the logistics and supply chains of renewable chemicals themselves benefit from environmentally conscious transportation practices. Companies increasingly prioritize eco-friendly shipping methods to align with sustainability goals, fostering the integration of renewable chemicals into various industries.

In essence, the transportation sector acts as both a consumer and a facilitator of renewable chemicals, driving market growth through the adoption of sustainable fuels and promoting environmentally friendly logistics practices.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 124.6 Billion
Projected Market Size in 2032 USD 270.8 Billion
Market Size in 2022 USD 120.4 Billion
CAGR Growth Rate 11.3% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Type, Application and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Renewable Chemicals Market – Regional Insight

By region, renewable chemicals market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia Pacific dominated the global renewable chemicals market in 2022 with a market share of 35% in 2022 and is expected to keep its dominance during the forecast period 2024-2032.

The Asia-Pacific region plays a pivotal role in propelling the renewable chemicals market. Rapid industrialization, coupled with a burgeoning population, has heightened environmental concerns, driving the demand for sustainable alternatives.

Governments in the region are implementing stringent environmental regulations and promoting green initiatives, encouraging industries to embrace renewable chemicals. Additionally, Asia-Pacific boasts abundant feedstock resources, such as agricultural and forestry residues, providing a favourable landscape for bio-based production.

Growing consumer awareness and a shift toward eco-friendly products further boost the adoption of renewable chemicals. The region’s strategic investments in research, development, and innovation contribute to technological advancements, making renewable solutions more economically viable.

As industries increasingly prioritize sustainability, influence global market dynamics and contribute significantly to the growth and widespread adoption of renewable chemicals.

Global Renewable Chemicals Market 2023–2032 (By Billion)

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Renewable Chemicals Market – Recent Developments

  • In September 2023, BASF introduced its first biomass plastic additives. These innovations facilitate the substitution of fossil feedstock with renewable alternatives this initiative actively propels the renewable chemicals market by fostering the adoption of bio-based materials in plastic production.
  • In May 2022, Verdant unveiled its inaugural range of eco-friendly specialty chemicals, targeting applications in pulp, textiles, nonwovens, and hemp industries. These green chemical innovations, formulating products derived from plants, soil, and natural earth resources.
  • In July 2020, Praj Industries, a biotech process engineering firm, launched renewable chemicals and materials (RCM) with the introduction of its new Bio-Prism portfolio.

List of the prominent players in the Renewable Chemicals Market:

  • BASF SE
  • Mitsubishi Chemical Holdings Corporation
  • Braskem
  • OCI N.V.
  • Solvay
  • Corbion N.V.
  • NatureWorks LLC
  • Amyris
  • Myriant Coperation
  • Evonik Industries
  • Novamont S.p.A.
  • BioAmber
  • Neste
  • LyondellBasell
  • Toray Industries
  • PTT Global Chemical PCL
  • Genomatica
  • LanzaTech
  • Metabolic Explorer
  • Arbios
  • Others

These key players are adopting various growth strategies such as merger & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

The Renewable Chemicals Market is segmented as follows:

By Feedstock

  • Corn
  • Sugarcane
  • Biomass
  • Algae
  • Others

By Product

  • Ethanol
  • Methanol
  • Ketones
  • Glycerol
  • Organic Acids
  • Bio-Polymers
  • Platform Chemicals
  • Others

By End-Use Industry

  • Petrochemical
  • Food & Beverage
  • Automotive
  • Chemical
  • Agricultural
  • Packaging
  • Textile
  • Medical
  • Others

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Renewable Chemicals Market, (2023 – 2032) (USD Billion)
    • 2.2 Global Renewable Chemicals Market: Snapshot
  • Chapter 3. Global Renewable Chemicals Market – Industry Analysis
    • 3.1 Renewable Chemicals Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Rising consumption of renewable alcohol for industrial application
      • 3.2.2 Growing demand for bio-based polymer fuel market growth
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Type
      • 3.7.2 Market Attractiveness Analysis By Application
  • Chapter 4. Global Renewable Chemicals Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Renewable Chemicals Market: Company Market Share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Renewable Chemicals Market – Type Analysis
    • 5.1 Global Renewable Chemicals Market Overview: By Type
      • 5.1.1 Global Renewable Chemicals Market Share, By Type, 2022 and 2032
    • 5.2 Alcohols
      • 5.2.1 Global Renewable Chemicals Market by Alcohols, 2023 – 2032 (USD Billion)
    • 5.3 Organic Acids
      • 5.3.1 Global Renewable Chemicals Market by Organic Acids, 2023 – 2032 (USD Billion)
    • 5.4 Ketones
      • 5.4.1 Global Renewable Chemicals Market by Ketones, 2023 – 2032 (USD Billion)
    • 5.5 Biopolymers
      • 5.5.1 Global Renewable Chemicals Market by Biopolymers, 2023 – 2032 (USD Billion)
    • 5.6 Others
      • 5.6.1 Global Renewable Chemicals Market by Others, 2023 – 2032 (USD Billion)
  • Chapter 6. Global Renewable Chemicals Market – Application Analysis
    • 6.1 Global Renewable Chemicals Market Overview: By Application
      • 6.1.1 Global Renewable Chemicals Market Share, By Application, 2022 and 2032
    • 6.2 Transportation
      • 6.2.1 Global Renewable Chemicals Market by Transportation, 2023 – 2032 (USD Billion)
    • 6.3 Textiles
      • 6.3.1 Global Renewable Chemicals Market by Textiles, 2023 – 2032 (USD Billion)
    • 6.4 Petrochemicals
      • 6.4.1 Global Renewable Chemicals Market by Petrochemicals, 2023 – 2032 (USD Billion)
    • 6.5 Packaging
      • 6.5.1 Global Renewable Chemicals Market by Packaging, 2023 – 2032 (USD Billion)
    • 6.6 Agriculture
      • 6.6.1 Global Renewable Chemicals Market by Agriculture, 2023 – 2032 (USD Billion)
    • 6.7 Others
      • 6.7.1 Global Renewable Chemicals Market by Others, 2023 – 2032 (USD Billion)
  • Chapter 7. Renewable Chemicals Market – Regional Analysis
    • 7.1 Global Renewable Chemicals Market Regional Overview
    • 7.2 Global Renewable Chemicals Market Share, by Region, 2022 & 2032 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Renewable Chemicals Market, 2023 – 2032 (USD Billion)
        • 7.3.1.1 North America Renewable Chemicals Market, by Country, 2023 – 2032 (USD Billion)
    • 7.4 North America Renewable Chemicals Market, by Type, 2023 – 2032
      • 7.4.1 North America Renewable Chemicals Market, by Type, 2023 – 2032 (USD Billion)
    • 7.5 North America Renewable Chemicals Market, by Application, 2023 – 2032
      • 7.5.1 North America Renewable Chemicals Market, by Application, 2023 – 2032 (USD Billion)
    • 7.6. Europe
      • 7.6.1 Europe Renewable Chemicals Market, 2023 – 2032 (USD Billion)
        • 7.6.1.1 Europe Renewable Chemicals Market, by Country, 2023 – 2032 (USD Billion)
    • 7.7 Europe Renewable Chemicals Market, by Type, 2023 – 2032
      • 7.7.1 Europe Renewable Chemicals Market, by Type, 2023 – 2032 (USD Billion)
    • 7.8 Europe Renewable Chemicals Market, by Application, 2023 – 2032
      • 7.8.1 Europe Renewable Chemicals Market, by Application, 2023 – 2032 (USD Billion)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Renewable Chemicals Market, 2023 – 2032 (USD Billion)
        • 7.9.1.1 Asia Pacific Renewable Chemicals Market, by Country, 2023 – 2032 (USD Billion)
    • 7.10 Asia Pacific Renewable Chemicals Market, by Type, 2023 – 2032
      • 7.10.1 Asia Pacific Renewable Chemicals Market, by Type, 2023 – 2032 (USD Billion)
    • 7.11 Asia Pacific Renewable Chemicals Market, by Application, 2023 – 2032
      • 7.11.1 Asia Pacific Renewable Chemicals Market, by Application, 2023 – 2032 (USD Billion)
    • 7.12. Latin America
      • 7.12.1 Latin America Renewable Chemicals Market, 2023 – 2032 (USD Billion)
        • 7.12.1.1 Latin America Renewable Chemicals Market, by Country, 2023 – 2032 (USD Billion)
    • 7.13 Latin America Renewable Chemicals Market, by Type, 2023 – 2032
      • 7.13.1 Latin America Renewable Chemicals Market, by Type, 2023 – 2032 (USD Billion)
    • 7.14 Latin America Renewable Chemicals Market, by Application, 2023 – 2032
      • 7.14.1 Latin America Renewable Chemicals Market, by Application, 2023 – 2032 (USD Billion)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa Renewable Chemicals Market, 2023 – 2032 (USD Billion)
        • 7.15.1.1 The Middle-East and Africa Renewable Chemicals Market, by Country, 2023 – 2032 (USD Billion)
    • 7.16 The Middle-East and Africa Renewable Chemicals Market, by Type, 2023 – 2032
      • 7.16.1 The Middle-East and Africa Renewable Chemicals Market, by Type, 2023 – 2032 (USD Billion)
    • 7.17 The Middle-East and Africa Renewable Chemicals Market, by Application, 2023 – 2032
      • 7.17.1 The Middle-East and Africa Renewable Chemicals Market, by Application, 2023 – 2032 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 BASF SE
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Mitsubishi Chemical Holdings Corporation
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Braskem
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 OCI N.V.
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Solvay
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Corbion N.V.
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 NatureWorks LLC
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Amyris
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Myriant Coperation
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Evonik Industries
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Novamont S.p.A.
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
    • 8.12 BioAmber
      • 8.12.1 Overview
      • 8.12.2 Financials
      • 8.12.3 Product Portfolio
      • 8.12.4 Business Strategy
      • 8.12.5 Recent Developments
    • 8.13 Neste
      • 8.13.1 Overview
      • 8.13.2 Financials
      • 8.13.3 Product Portfolio
      • 8.13.4 Business Strategy
      • 8.13.5 Recent Developments
    • 8.14 LyondellBasell
      • 8.14.1 Overview
      • 8.14.2 Financials
      • 8.14.3 Product Portfolio
      • 8.14.4 Business Strategy
      • 8.14.5 Recent Developments
    • 8.15 Toray Industries
      • 8.15.1 Overview
      • 8.15.2 Financials
      • 8.15.3 Product Portfolio
      • 8.15.4 Business Strategy
      • 8.15.5 Recent Developments
    • 8.16 PTT Global Chemical PCL
      • 8.16.1 Overview
      • 8.16.2 Financials
      • 8.16.3 Product Portfolio
      • 8.16.4 Business Strategy
      • 8.16.5 Recent Developments
    • 8.17 Genomatica
      • 8.17.1 Overview
      • 8.17.2 Financials
      • 8.17.3 Product Portfolio
      • 8.17.4 Business Strategy
      • 8.17.5 Recent Developments
    • 8.18 LanzaTech
      • 8.18.1 Overview
      • 8.18.2 Financials
      • 8.18.3 Product Portfolio
      • 8.18.4 Business Strategy
      • 8.18.5 Recent Developments
    • 8.19 Metabolic Explorer
      • 8.19.1 Overview
      • 8.19.2 Financials
      • 8.19.3 Product Portfolio
      • 8.19.4 Business Strategy
      • 8.19.5 Recent Developments
    • 8.20 Arbios
      • 8.20.1 Overview
      • 8.20.2 Financials
      • 8.20.3 Product Portfolio
      • 8.20.4 Business Strategy
      • 8.20.5 Recent Developments
    • 8.21 Others.
      • 8.21.1 Overview
      • 8.21.2 Financials
      • 8.21.3 Product Portfolio
      • 8.21.4 Business Strategy
      • 8.21.5 Recent Developments
List Of Figures

Figures No 1 to 25

List Of Tables

Tables No 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2032

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2032
  • Market revenue estimates and forecasts up to 2032, by technology
  • Market revenue estimates and forecasts up to 2032, by application
  • Market revenue estimates and forecasts up to 2032, by type
  • Market revenue estimates and forecasts up to 2032, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • BASF SE
  • Mitsubishi Chemical Holdings Corporation
  • Braskem
  • OCI N.V.
  • Solvay
  • Corbion N.V.
  • NatureWorks LLC
  • Amyris
  • Myriant Coperation
  • Evonik Industries
  • Novamont S.p.A.
  • BioAmber
  • Neste
  • LyondellBasell
  • Toray Industries
  • PTT Global Chemical PCL
  • Genomatica
  • LanzaTech
  • Metabolic Explorer
  • Arbios
  • Others

FAQs

The restraints of the Renewable Chemicals market is complex manufacturing process increase overall product cost.

The major driver for the Renewable Chemicals market is rising consumption of renewable alcohol for industrial application and growing demand for bio-based polymer fuel market growth.

The “Alcohols” category dominated the market in 2022.

The key players in the market are BASF SE, Mitsubishi Chemical Holdings Corporation, Braskem, OCI N.V., Solvay, Corbion N.V., NatureWorks LLC, Amyris, Myriant Coperation, Evonik Industries, Novamont S.p.A., BioAmber, Neste, LyondellBasell, Toray Industries, PTT Global Chemical PCL, Genomatica, LanzaTech, Metabolic Explorer, Arbios, Others.

“Asia-Pacific” had the largest share in the Renewable Chemicals Market.

The global market is projected to grow at a CAGR of 11.3% during the forecast period, 2023-2032.

The Renewable Chemicals Market size was valued at USD 124.6 Billion in 2023.

PURCHASE OPTIONS

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3490


$

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