DUBLIN, Nov. 10, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/hvtqrv/renewable) has announced the addition of the "Renewable Chemicals Market - Alcohols (Ethanol, Methanol), Biopolymers (Starch Blends, Regenerated Cellulose, PBS, Bio-PET, PLA, PHA, Bio-PE, and Others), Platform Chemicals & Others - Global Trends & Forecast to 2020" report to their offering.
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.
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SOURCE Research and Markets