Renewable Chemicals Market Forecast 2023 - 2032

Pune, India, August 04, 2016/MRFR Press Release/- Market Research Future (MRFR) Announces the Publication of its Research Report – Global Renewable Chemicals Market 2023 - 2032

Renewable Chemicals Market Highlights

Renewable Chemicals Market Size was valued at USD 102.6 Billion in 2022 and projected to reach USD 308.21 Billion by 2032, with a CAGR of 13.00%

Market Research Future (MRFR) recognizes the following companies as the key players in the global agribusiness market: Archer-Daniels-Midland Company, Amyris Inc, BASF, Bioamber.

Other Prominent Vendors in the market are: Biomethanol Chemie Nederland, Braskem, Cargill, DSM, E. I. DU PONT, Evonik industries.

Commenting on the report, an analyst from Market Research Future (MRFR)’s team said: “Chemical process industries (CPI) are keen on using renewable feedstock as a raw material for chemical production due to the abundant and inexpensive nature of such feedstock, and also owing to the volatile prices and greenhouse gas emissions associated with conventional petroleum-derived feedstock.

There is a common belief that the world’s supply of crude oil will last till about 2050. Thus, a good substitute is required to replace it. Bio feedstock such as corn and sugarcane is grown almost everywhere around the world; which makes it a potential candidate for replacing the crude oil as feedstock for chemicals and fuel production.”

According to the report, the chemicals industry is witnessing a trend wherein technology innovations are making renewable sources increasingly competitive with traditional sources on the basis of both- price and performance. For instance, Denmark-based Novozymes has developed high-efficiency enzymes than can reduce the production cost of cellulosic ethanol from $1-$2 to ¢50. This development gains high significance in light of the fact that enzymes cost comprises 20%-25% of ethanol production.

Taste the market data and market information presented through more than 50 market data tables and figures spread in 147 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Renewable Chemicals Market 2023 - 2032" 

Further, the report states that, Well-developed routes such as microbial or enzyme-driven conversion for producing chemicals from feedstock offer the advantage of selectivity, but are also fraught with challenges such as low speed and high water and energy requirement. In addition, petroleum refinery processes and other conventional thermal processes such as cracking and distillation, pyrolysis and gasification cannot be used for renewable feedstock.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information about this report,

Get More Information about this Report Renewable Chemicals Market