The global renewable chemical market is anticipated to grow at a CAGR of 9.8% during the forecast period (2021-2027). The considerable rise in the number of green chemistry project launches to create the awareness regarding the potential benefits of renewable chemical is one of the key factors driving the growth of the global renewable chemical market. For instance, in February 2017, the United Nations Industrial Development Organization (UNIDO) & its partners have launched a global Green Chemistry project. The Green Chemistry project was launched with intent to increase the global awareness and deployment of green chemistry approaches and technologies across the globe.
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Green Chemistry reduces pollution at its source by minimizing or eliminating the hazards of chemical feedstock, reagents, solvents and products; or encouraging the invention and innovation of new and non-hazardous solvents, surfactants, materials, processes and products. The rising need of minimizing the hazardous effect of petro-based chemicals is creating huge scope for the growth of the global renewable chemical market. However, the high cost of renewable chemicals & unwillingness of chemical manufactures to switch on new technology is anticipated to hinder the growth of the renewable chemical market across the globe.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Renewable chemical Market Report Segment
By Product Type
- Alcohols
- Organic Acids
- Ketones
- Platform Chemicals
- Biopolymers
- Others (Bio-based 1,3-PDO, ECH, and 1,4-BDO))
By Applications
- Transportation
- Textiles
- Food safety
- Housing
- Bio-Medical
- Agriculture
- Other Applications
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
