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Wednesday, 20 February 2019
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Markets & companies, Raw materials market

Global renewable chemicals market to reach USD 83.4 billion by 2018

Friday, 7 June 2013

The renewable chemicals industry will witness high growth of 7.7% annually in next five years from 2013 to 2018.

The emergence of bio-feedstock and bio-based commodity polymers production, in tandem with increasing oil prices, rising consumer consciousness, and improving economics, has ushered in a new and exciting era of renewable chemical commercialization. Source: FikMik - Fotolia.com
The emergence of bio-feedstock and bio-based commodity polymers production, in tandem with increasing oil prices, rising consumer consciousness, an...

Renewable chemical market will grow from an estimated USD 57.5 billion in 2012 to USD 83.4 billion by 2018. The renewable chemicals industry will witness high growth of 7.7% annually in next five years from 2013 to 2018, mainly due to continuous rise in oil prices, requirement for environmentally friendly feedstock, and low production cost of bio-based chemicals, according to the report "Renewable Chemicals Market - Alcohols (Ethanol, Methanol), Biopolymers (Starch, PLA, PHA, Polyethylene and Others), Platform Chemicals and Others - Global Trends and Forecasts to 2018" by market research company MarketsandMarkets. The study defines and segments the global renewable chemical market with analysis and forecasting of the global volume and revenue.

Ethanol: most commercialized segment

The emergence of bio-feedstock and bio-based commodity polymers production, in tandem with increasing oil prices, rising consumer consciousness, and improving economics, has ushered in a new and exciting era of renewable chemical commercialization. However, factors such as economic viability, product quality/performance, and scale of operation will still play important role in determining the commercialization spectrum.

Among the major renewable chemicals, ethanol is the most commercialized segment. Though it has been established in U.S. and Brazil; it has ample scope of growth in the European as well as Asian developing countries like India and China. In the biopolymers segment; starch plastics holds maximum share i.e. around 48 %, whereas PHA is expected to grow at highest CAGR of over 27.7 % during next five years.

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