Global Bio-Renewable Chemicals Market, By Type (Glycerin , Lactic Acid , Succinic Acid , Others), By

Published Date: | Report Code : CH1958430


Market Dynamics

The Bio-Renewable Chemicals market is expected to promise high growth owing to the rise in the thrust of pollution control in recent years. Increasing demand from applications including bio-plastic, bio-based solvents, bio-based cleaners, and detergents, others are expected to drive the growth of bio-renewable chemicals market. This market has witnessed the number of key developments by major companies including BASF SE, Solazyme, Myriant, Elevance Renewable Sciences, BioAmber, DuPont Industrial Biosciences (Genencor), Lanza Tech, Amyris, ZeaChem, and Gevo with focus on organic as well as inorganic growth strategies.  Developing regions including the Asia Pacific and the Middle East have been among the high potential markets with high growth in some of the key economies.

Bio renewable chemicals are the sustainable sources of carbon as it offers fewer carbon footprints when compared to conventional Petro-based chemicals.  These bio-renewable chemicals or bio-based chemicals comprises of a variety of chemicals that are usually obtained from renewable sources such as agricultural feedstock, agricultural waste, organic waste products, biomass, and microorganisms. Due to their various environmental advantages, they are widely used as a direct substitution for conventional petrochemicals.

Segment Analysis

The global bio-renewable chemicals market is segmented on the basis of type and application.

On the basis of the type, it is segmented into glycerin, lactic acid, succinic acid, and others. Glycerin is one of the most widely used types as . it is a flat-form chemical to produce biopolymers, biofuels, monomers, and other chemical intermediates. There has been an increase in the demand for succinic acid because it is used as the main ingredient for pigment and coating in the planting and pharmaceutical industry.

By application, it is segregated into Bio-plastic, bio-based solvents, bio-based cleaners and detergents, and others.  Bio-plastic is majorly used as a packaging material and it emits very fewer greenhouse gasses.

Key Factors Impacting Market Growth:

  • Rise in the thrust of pollution control.
  • Fluctuating prices of conventional sources of energy
  • Rapidly depleting oil resources

Regional Analysis

On the basis of the region, the bio-renewable chemicals market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America and Western Europe are some of the major markets that are also traditional suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Major companies in this market are headquartered in North America and Western Europe.  This region has been witnessing the number of transitions in terms of productions of chemicals and respective applications by end-use industries. The preference towards bio-based feedstock has been instrumental in the development of the green alternatives in these regions. Moreover, regulatory authorities have imposed strict guidelines with regards environmental concerns and potential health hazards due to exposures. This has been more instrumental in the Western Europe region competitively. Some of the major economies in these regions include US, Germany, UK, France, Canada, Italy, Spain, and so on.  Asia Pacific and Middle East are expected to register substantial growth in the bio-renewable chemical market during the forecast period. This demand is with regard to the growth of major applications such as bio-plastic, bio-based solvents, bio-based cleaners, and detergents, others.

Major countries in the Asia Pacific region include China, South Korea, Japan, India, Australia, and so on. Middle East includes the UAE, Saudi Arabia, Iran, Israel, Egypt, and so on. Eastern Europe has been largely dominated by Russia and Turkey with operations of major chemical giants in the region.  Rest the World that includes South America and Africa has a strong potential for bio-renewable chemicals market. There has been an increasing number of investments by global companies in these regions to strengthen their presence and tap the potential market. Major economies in these regions for bio-renewable chemicals market include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.

Companies Covered:  BASF SE, Solazyme, Myriant, Elevance Renewable Sciences, BioAmber, DuPont Industrial Biosciences (Genencor), Lanza Tech, Amyris, ZeaChem, and Gevo.

Market Segmentation:

By Type:

  • Glycerin
  • Lactic Acid
  • Succinic Acid
  • Others

By Application:

  • Bio-plastic
  • Bio-based Solvents
  • Bio-based Cleaners And Detergents
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Type
    • By Application
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Type
    • By Application
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Type
    • By Application
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Type
    • By Application
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Type
    • By Application
  • Rest of the World
    • By Region (South America, Africa)
    • By Type
    • By Application

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