Global Bio-Renewable Chemicals Market By Type (Glycerol, Lactic Acid, Succinic Acid, Acetone, Others), By Application (Packaging, Food and Beverages, Personal Care and Cosmetics, Chemical Industry, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global bio-renewable chemicals market was valued for 2.4 billion in 2021 and is estimated to surpass 7.3 billion by 2031, exhibiting a CAGR of 11.6% from 2022-2031.
Bio-renewable chemicals refer to chemicals obtained from agricultural feedstock and waste, biomass, organic waste products, and other renewable sources. Some examples of bio-renewable chemicals include succinic acid, poly lactic acid, polypropylene, acetone, and others. These chemicals find application in various end use sectors including packaging, bio-plastics, food & beverages, textile, and others.
The increasing severity of diseases have surged the R&D activities in the pharmaceutical sector where bio-renewable lactic acid is widely in various pharmaceutical products for its antibacterial properties. This may act as one of the key drivers responsible for the growth of the bio-renewable chemicals market. Furthermore, rise in awareness for personal care activities have increased the demand for various personal care products where bio-renewable chemicals are used to gently exfoliate the skin. Furthermore, the use of bio-renewable lactic acid in cosmetic formulations promotes moisturizing, evacuation of dead cells and cell renewal. In addition, it also helps to soften and retain moisture in the skin and give radiance. These factors altogether may surge the utilization of bio renewable chemicals in the growing personal care sector; thus, fueling the growth of the bio-renewable chemicals market.
Moreover, industry trends are shifting toward bio-based products to reduce the dependency over conventional plastics. These factors have increased the demand for lactic acid-based bioplastics. This may surge the demand for lactic acid used as a raw material for bioplastic production; thus, creating lucrative opportunities for the bio-renewable chemicals market. However, high costs of bio-renewable chemicals as compared to other synthetic chemicals may restrain the growth of the bio-renewable chemicals market.
On the contrary, increase in global population has surged the demand for a wide range of consumer goods which in turn has surged the establishment of chemical manufacturing facilities in both developed and developed economies. The rise in awareness for eco-friendly activities coupled with sustainable development has led these chemical manufacturing facilities to shift towards using bio-based chemicals for producing a wide range of consumer goods. This factor is predicted to create remunerative opportunities for the bio-renewable chemicals market during the forecast period.
The bio-renewable chemicals market is segmented on the basis of type, application, and region. On the basis of type, the market is categorized into glycerol, lactic acid, succinic acid, acetone, and others. By application, it is classified into packaging, food & beverages, personal care & cosmetics, chemical industry, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global bio-renewable chemicals market profiles leading players that include Gevo, Inc., Vizag Chemical, Solvay, BASF SE, Unilever PLC, ZeaChem, Cargill, Incorporated, DuPont de Nemours, Inc., Elevance Health, and Amyris. The global bio-renewable chemicals market report provides an in-depth competitive analysis as well as profiles of these major players.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global bio-renewable chemicals market analysis from 2021 to 2031 to identify the prevailing global bio-renewable chemicals market opportunities.
Market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
An in-depth analysis of the global bio-renewable chemicals market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes an analysis of the regional as well as global bio-renewable chemicals market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Lactic Acid
Succinic Acid
Acetone
Others
Glycerol
By Application
Packaging
Food and Beverages
Personal Care and Cosmetics
Chemical Industry
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Gevo, Inc.
Vizag Chemical
solvay
BASF SE
Unilever plc
ZeaChem
Cargill, Incorporated
DuPont de Nemours, Inc.
Elevance Health
Amyris
Please Note: It will take 7-10 business days to complete the report upon order confirmation.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook