Renewable Chemicals Market Demand | Market Trends, Growth Insight, Share, Segments, Competitive, Regional, Global Forecast to 2030
Renewable chemicals Market – Market Overview
Renewable
chemicals are a specific chemical containing considerable amount of renewable
content which enhances the recyclability. Rising consumer awareness regarding
sustainable development and vast spread understanding about the harms of
persistent chemical to the environment are the major factors driving growth of
the market during the forecast period. In addition to this the stringent
regulatory measures put in place by the government and environmental regulatory
authorities in mature economies has driven the development of bio-based
renewable products. European Commission has regulated REACH which is intended
to improve the protection of human health and the environment from the risks
that can be posed by chemicals. Collectively these trends are anticipated to
fuel growth of the global Renewable
Chemicals Market Demand.
Key
Players:
Archer
Daniels Midland Company, Amyris, BASF SE, BioAmber Inc., BioMCN, Braskem,
Cargill, Royal DSM, DowDuPont, and Evonik AG industries among others
are some of the prominent players at the forefront of competition in the
Global Renewable chemicals Market and are profiled in MRFR
Analysis.
Renewable
chemicals Market- Competitive Landscape
The global Renewable
Chemical market demand is witnessing rapid growth primarily driven by
growing consumer awareness and rising global sentiments in favour of environmental.
BioAmber Inc, Archer Daniels Midland Company, Evonik AG, Cargill, and DowDuPont
are the major players in this market. Almost all of them are adopting the
expansion, collaboration tactics and launching new products in order to
strengthen their market position and meet the growing demand. Growing end user
industries, and continuous collaborations and agreements between manufacturers,
distributers, and marketing firms are key factors for the growth of Renewable
chemicals in the global market. Taking into account these competitive trends,
the global renewable chemicals market is projected to witness higher
competition on the Research front during the review period of 2017-2023.
Industry/
Innovation/ Related News:
June 15, 2017- BioAmber Inc. introduced a new
pharmaceutical grade product called BIO-SA™. This new grade of material
provides a USP/NF and FCC Grade of bio-succinic acid manufactured under the
United States Food and Drug Administration's (FDA) good manufacturing practices
(GMP) for food and Excipients. These standards are used by regulatory agencies
and manufacturers to ensure products are of the appropriate identity, strength,
quality, purity and consistency and renewability. Therefore, achieving this new
benchmark is a significant development which assured that BioAmber's facility
adheres to the rigorous quality control standards set by the United States Food
and Drug Administration (FDA).
October 19, 2017- The Renewable Chemicals Act of 2017,
introduced in the House in June 2017 by Rep. Bill Pascrell (D-NJ). This Senate
bill is companion legislation, which if enacted would create a targeted,
short-term tax credit for production of qualifying renewable chemicals from
biomass or investment in production facilities. In long term this tax credit
would be evaluated on the basis of job creation, innovation, environmental
benefits, commercial viability and contribution to U.S. energy independence.
This development is the start of new era of government policies supporting the
efforts of manufacturer’s move in favor of environmental protection.
28 November 2017- Emery Oleochemicals introduced a new
product, through its Eco-Friendly Polyols platform, called EMEROX®. The product
has high renewable content and superior performance property. This product possess
all the structural design freedom of a petrochemical-based polyol. This is
going add a new chapter of technological advancement in the global renewable
chemicals market.
November 9, 2017- Braskem has partnered with RPC
M&H Plastics to create “green” polyethylene (PE) packaging for Bulldog
Skincare for Men’s line of skincare. Braskem is a Brazil based
thermoplastics resin producer which has been entering into a series of new partnerships
to make bio-based packaging. This development is significant for the packaging
industry which is being hampered by stringent regulatory measures restricting
use of harmful synthetic material especially in food, pharmaceuticals and
personal care product packaging.
8 November 2017- Stora Enso, one of the leading
developer, manufacturer and supplier of renewable solutions in packaging,
biomaterials, wooden constructions and paper is investing USD 108.79 million to
grow in the field of renewable materials and to increase competitiveness in
consumer board and biomaterials. This move by Stora Enso is anticipated to
substitute use of fossil-based alternatives in longer run.
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