Renewable Chemical Manufacturing Market Size is valued at USD 95.7 Bn in 2023 and is predicted to reach USD 196.5 Bn by the year 2031 at a 9.5% CAGR during the forecast period for 2024-2031.
The renewable chemicals sector is witnessing a significant upswing in growth, fueled by increasing demand driven by sustainability efforts, biotechnology innovations, and substantial investments in pilot and large-scale production plants. Past challenges have instilled caution about the widespread adoption of bio-based chemicals, but there's now a clear increase in investment activity evident throughout industry and its target markets. Climate change and the rise in focus on the circular economy encourage research and advancements in the development of renewable chemicals. These chemicals are developed for energy-efficient recycling. Organic acids are used in surfactant food ingredients.
However, the COVID-19 pandemic disrupted the renewable chemical manufacturing market, causing supply chain interruptions and reduced demand in various industries. However, it also spurred innovation and investment in sustainable practices as companies sought resilient, eco-friendly alternatives, potentially accelerating long-term growth in renewable chemicals. The negative impact of on industries such as automotive, agriculture, along textiles reduced market demand during these industries.
The renewable chemical manufacturing market is segmented by product, application, and feedstocks. Based on product, the market includes segments of alcohols, organic acids, polymers, and other products. By application, the segmentation includes transportation, agrochemicals, food and beverage, personal care, pharmaceuticals, paints and coatings, detergents and cleaners, and Industrial applications. Feedstock segmentation includes plant oil, ligno, sugar, starch, biomass, and others.
Transportation is poised to dominate the global renewable chemical manufacturing market, leveraging sustainable practices to meet the growing demand for eco-friendly alternatives. With advancements in biofuels, bioplastics, and biochemicals, transportation is experiencing a paradigm shift toward clean energy sources. Manufacturers are increasingly investing in innovative processes such as fermentation, catalysis, and bioconversion to produce renewable chemicals that reduce carbon footprint. This transformation is not only driving environmental benefits but also opening new avenues for economic growth and technological innovation in the transportation sector on a global scale. Embracing renewable chemicals is key to a more sustainable future in transportation.
Alcohol is projected to dominate the global renewable chemical manufacturing market due to its versatility and sustainability. The shift towards alcohol-based chemicals is driven by factors like eco-friendliness, biodegradability, and lower toxicity compared to traditional petrochemicals. As more countries embrace renewable energy initiatives, alcohol-derived chemicals are poised to play a pivotal role in decreasing greenhouse gas emissions and promoting a circular economy. The future of global renewable chemical manufacturing looks bright, with alcohol at the forefront.
The market demand for renewable chemicals is expected to increase in North America owing to the region's industrial growth. The increasing demand for sustainable chemicals supports the market growth in the region. Market players have taken greater initiatives to reduce dependence on fossil fuels. Growing prices related to crude oil and the increase of policies associated with emissions and a strong research and development infrastructure, with a particular emphasis on chemical engineering and biotechnology drive market growth.
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 95.7 Bn |
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Revenue Forecast In 2031 |
USD 196.5 Bn |
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Growth Rate CAGR |
CAGR of 9.5% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn, and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Product, Feedstock, Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
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Competitive Landscape |
Amyris, BioAmber, Bio methanol Chemie Nederland B.V, BioMCN, Braskem, Corbion Nv, DSM, DuPont Tate & Lyle Bio Products, Metabolix Inc., Mitsubishi Chemical Corp, Cobalt Technologies, Myriant Corporation, and NatureWorks LLC. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Renewable Chemical Manufacturing Market Snapshot
Chapter 4. Global Renewable Chemical Manufacturing Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Application Estimates & Trend Analysis
5.1. by Application & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:
5.2.1. Transportation
5.2.2. Agrochemical
5.2.3. Food and Beverage
5.2.4. Personal Care
5.2.5. Pharmaceuticals
5.2.6. Paints and Coatings
5.2.7. Detergents and Cleaners
5.2.8. Industrial
5.2.9. Others
Chapter 6. Market Segmentation 2: by Product Type Estimates & Trend Analysis
6.1. by Product Type & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Product Type:
6.2.1. Alcohols
6.2.1.1. Ethanol
6.2.1.2. Butanol
6.2.1.3. Methanol
6.2.1.4. Others
6.2.2. Organic Acids
6.2.2.1. Acetic Acid
6.2.2.2. Lactic Acid
6.2.2.3. Succinic Acid
6.2.2.4. Others
6.2.3. Polymers
6.2.3.1. Polyethylene (PE)
6.2.3.2. Polyamide (PA)
6.2.3.3. Polyethylene Terephthalate (PET)
6.2.3.4. Polylactic Acid (PLA)
6.2.3.5. Polyurethane (PU)
6.2.3.6. Others
6.2.4. Others
Chapter 7. Market Segmentation 3: by Feedstocks Estimates & Trend Analysis
7.1. by Feedstocks & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:
7.2.1. Plant Oil
7.2.2. Ligno
7.2.3. Sugar
7.2.4. Starch
7.2.5. Biomass
7.2.6. Others
Chapter 8. Renewable Chemical Manufacturing Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
8.1.2. North America Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
8.1.3. North America Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by Feedstocks, 2023-2031
8.1.4. North America Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
8.2. Europe
8.2.1. Europe Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
8.2.2. Europe Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
8.2.3. Europe Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by Feedstocks, 2023-2031
8.2.4. Europe Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
8.3. Asia Pacific
8.3.1. Asia Pacific Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
8.3.2. Asia Pacific Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
8.3.3. Asia-Pacific Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by Feedstocks, 2023-2031
8.3.4. Asia Pacific Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
8.4. Latin America
8.4.1. Latin America Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
8.4.2. Latin America Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
8.4.3. Latin America Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by Feedstocks, 2023-2031
8.4.4. Latin America Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
8.5. Middle East & Africa
8.5.1. Middle East & Africa Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
8.5.2. Middle East & Africa Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
8.5.3. Middle East & Africa Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by Feedstocks, 2023-2031
8.5.4. Middle East & Africa Renewable Chemical Manufacturing Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. BASF SE
9.2.2. CropEnergies AG
9.2.3. DSM
9.2.4. Amyris
9.2.5. Braskem
9.2.6. Evonik
9.2.7. Novozymes A/S
9.2.8. Cargill, Incorporated
9.2.9. NatureWorks LLC
9.2.10. ADM
9.2.11. ARD
9.2.12. OCI
9.2.13. Mitsubishi Chemical Group Corporation
9.2.14. Corbion
9.2.15. Carbon Recycling International
9.2.16. Other Prominent Players
By Product-
By Application-
By Feedstocks-
By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
