Renewable chemicals, commonly known as bio-based chemicals, are obtained from various renewable sources such as organic waste products, agricultural waste, agricultural feedstock, microorganism, and biomass. Due to lower carbon constituent and environment-friendly characteristics, renewable chemicals have emerged as potential substitutes for petroleum-based chemicals. Increasing awareness and growing demand for methanol and ethanol in the pharmaceutical industry is a major factor that is expected to fuel growth of the renewable chemicals market during the forecast period. Europe is expected to hold dominant position in the renewable chemicals market, followed by North America. This is mainly attributed to inclination of the populace and industry players towards adoption of novel and technologically advanced green products.

Renewable Chemicals Market Taxonomy:

On the basis of product type, the global market is classified into:
• Biopolymer
• Alcohols
• Ketones
• Organic acids
On the basis of applications, the global market is classified into:
• Agriculture
• Food & beverages packaging
• Biomedical
• Textiles

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Renewable Chemicals Market Outlook – Surge in End User Demand is Augmenting Market Growth:

Emerging technological breakthroughs, inclination of the populace towards eco-friendly products, and supportive government policy are fueling growth of the renewable chemicals market. Moreover, the growing demand for ethanol & methanol, green packaging materials, and consumer goods packaging materials is expected to boost the market growth during the forecast period.

Renewable Chemicals Market – Regulatory Scenario:
• 2009, Federal Legislation enthusiastic support for bio based products development and promotion
• As per The Biomass Research and Development Act of 2000, established the biomass research and development initiative to promote and develop bio based products, which consist of representatives from the white house, the U.S. Department of Agriculture (USDA), and the U.S. Department of Energy
Top key players: Archer-Daniels-Midland Company (ADM), Amyris Inc., BASF SE, Bioamber Inc., Biomethanol Chemie Nederland B.V., Braskem, Cargill Inc., DSM, E. I. DU Pont DE Nemours & Company, Evonik Industries AG, Genomatica Inc., Metabolix, Inc., Myriant Corporation, Natureworks LLC, Novozymes A/S, OPX Biotechnologies, Solazyme Inc., Solvay, and The Dow Chemical Com. 

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