Global Bio-Renewable Chemicals Market Size study & Forecast, by Type (Glycerol, Lactic Acid, Succinic Acid, Acetone, Others), by Application (Packaging, Food and Beverages, Personal Care and Cosmetics, Chemical Industry, Others) and Regional Analysis, 2022-2029
Global Bio-Renewable Chemicals Market is valued at approximately USD 2.5 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 11.6% over the forecast period 2022-2029. Bio-Renewable Chemicals refer to Chemicals which are created by living things and are used as chemical industry feedstock. The petroleum-based carbon feedstocks that currently power the chemical industry could be replaced with solar-powered bio-renewable compounds. The chemical business may be driven by the large variety of enzymes found in biological organisms and the potential for synthetic biology to alter these enzymes to develop novel chemical activities. A key building block for the creation of novel molecules is the polyketide biosynthetic pathway, which produces compounds made up of repeating alkyl chain units with the potential for a wide variety of functional groups at the various carbon atoms. The increasing expansion of personal care & cosmetics industry and growing awareness towards sustainability and environmental protection activities are key factors accelerating the market growth.
The growing expansion of personal care and cosmetics is contributing towards the growth of the Global Bio-Renewable Chemicals Market. For instance – according to Statista - as of 2023, the revenue in the global beauty & personal care market is estimated at USD 571.10 billion, and as per projections, the market would grow annually by 3.80% between 2023 and 2027 to reach USD 661.82 billion by end of 2027. Also, favorable government initiatives to promote the use of biochemicals and growing pollution levels worldwide would create a lucrative growth prospectus for the market over the forecast period. However, the high processing costs and complex manufacturing processes of Bio-Renewable Chemicals stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Bio-Renewable Chemicals Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the dominance of leading market players and growing demand for biochemicals from bioplastics manufacturers in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising number of favorable initiatives from leading market players as well as increasing demand for bio-renewable chemicals such as glycerin, acetone from end-use industries in the region.
Major market players included in this report are:
Gevo, Inc.
Vizag Chemical
Solvay
BASF SE
Unilever PLC
ZeaChem
Cargill, Incorporated
DuPont de Nemours, Inc.
Elevance Health
Amyris.
Recent Developments in the Market:
In August 2020, Yokogawa Electric Corporation signed an investment and partnership agreement with Swiss startup Bloom Bio renewables SA (Bloom), for developing business opportunities in the bioeconomy field. The two companies would be collaborating on the commercialization of a breakthrough technology from Bloom that maximizes the extraction of lignin from plant material to replace petrochemicals in a range of chemical products.
Global Bio-Renewable Chemicals Market Report Scope:
Historical Data 2019-2020-2021Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type
Glycerol
Lactic Acid
Succinic Acid
Acetone
Others
By Application
Packaging Food and Beverages
Personal Care and Cosmetics
Chemical Industry
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Companies Mentioned
Gevo, Inc.
Vizag Chemical
Solvay
BASF SE
Unilever PLC
ZeaChem
Cargill, Incorporated
DuPont de Nemours, Inc.
Elevance Health
Amyris.
Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.
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