The renewable chemicals market has been segmented into product type, application, and region. The renewable chemicals market has been analyzed in terms of volume and value (USD Million) for product type, alcohols, platform chemicals, and biopolymers with respect to applications and regions.

The market for renewable chemicals is in its infancy and is projected to witness dynamic growth at a CAGR of over 10.0% between 2015 and 2020. For each chemical, there are limited players in the market and they do not pose high threat for each other. The demand for these chemicals is high with almost all production volumes being consumed. The renewable chemicals market is at growing stage and the companies are yet to stabilize their business. Thus, the degree of competition in the market is low.

The factors hindering the growth of the renewable chemicals market are high price when compared to the conventional polymers and associated performance issues. However, with increasing research and innovation, improvement is expected in the near future. The growth opportunities for the renewable chemicals market are increasing scope in end-user segments, new raw materials, under penetration in Asian countries, and potential for cost reduction through economy of scale.

Various secondary sources, such as directories, technical handbooks, company annual reports, industry association publications, chemical magazine articles, trade websites, and databases have been referred to identify and collect information useful for this extensive commercial study of the renewable chemicals market. The primary sources that include experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess future prospects and market estimations.

This report includes the analysis of different marketing trends and the growth strategies adopted by the market players. It includes the identification of market dynamics such as drivers, restraints, opportunities, burning issues, and winning imperatives. The key market players such as BioAmber (Canada), Myriant Corporation (U.S.), Metabolix Inc. (U.S.), BASF SE (Germany), Mitsubishi Chemical Corporation (Japan), Braskem (Brazil), Corbion N.V. (The Netherlands), NatureWorks LLC (U.S.), BioMCN (The Netherlands), Genomatica (U.S.), Cobalt Technologies (U.S.), have also been profiled in this report.

Scope of the report:

The present report uses the term renewable chemicals to refer to chemicals derived from renewable sources or raw materials. The report classifies the global renewable chemicals market into:

Product Type

Alcohols

Organic Acids

Ketones

Platform Chemicals

Biopolymers

Others (Bio-based 1,3-PDO, ECH, and 1,4-BDO)

Applications:

Transportation

Textiles

Food safety

Environment

Communication

Housing

Recreation

Health & Hygiene

Bio-Medical

Agriculture

Other Applications

Region:

North America

Western Europe

Asia-Pacific

RoW

The global renewable chemicals market is estimated to be USD 49.0 Billion in 2015 and is projected to reach USD 84.3 Billion by 2020, at a CAGR of 11.47% between 2015 and 2020. The renewable chemicals market has been majorly segmented into alcohols, platform chemicals, and biopolymers. The alcohols accounts for more than 80.0% of the renewable chemicals market, in terms of value in 2015 and the same trend is projected to continue during the forecast period. The biopolymers constituted the second-major segment with the share of over 5% of the overall renewable chemicals market, by value. The biopolymers market is projected to register the high CAGR of 12.53% (by value) during the forecast period, due to the increasing demand for eco-friendly products. Starch blends constituted the largest share in biopolymers with 33.9% in 2014, in terms of value, followed by bio-PE. Bio-PET is projected to register the highest CAGR of over 15.00% during the forecast period.

The growth of the renewable chemicals market is largely driven by the increasing environmental concerns, government support for eco-friendly sources & processes, and technological innovations. The major restraints identified in this report are cost and production issues along with the trade-off with the vital resources. Opportunities such as improved yields, new generation feed-stocks, and collaboration with the universities can change the dynamics of this industry. The burning issue observed in the market is the fluctuating crude oil prices which will impact the renewable chemicals market in the short term.

Market players are limited for each product, thus renewable chemicals market possess limited competition. Key players profiled in the report are Metabolix Inc. (U.S.), BioAmber (Canada), Genomatica (U.S.), Cobalt Technologies (U.S.), BASF (Germany), DuPont Tate & Lyle Bio Products (U.S.), Myriant Corporation (U.S.), BioMCN (The Netherlands), Corbion N.V. (The Netherlands), NatureWorks LLC (U.S.), Mitsubishi Chemical Corporation (Japan), and Braskem (Brazil). Partnerships/Agreements/Collabolrations and new product development & launches are the major strategies adopted by the players in this market in order to gain competitive edge and increase their market penetration.