Boston, MA -- (SBWire) -- 07/23/2013 --The renewable chemical market is driven by the increasing demand from the food packaging industry, biodegradable & compostable plastics, and other consumer products. The renewable chemicals market is estimated to reach $83.4 billion by 2018 with a CARG of 7.7%. While alcohols currently form the largest segment of the renewable chemicals market, the polymers segment holds the maximum growth potential at an expected CAGR of 14.3% from 2013 to 2018.
The renewable chemicals market includes all the chemicals obtained from renewable feedstock such as agricultural raw materials, agricultural waste products or biomass microorganisms etc. The development of this market is driven by the fact that renewable chemicals decouple economic growth from finite, non-renewable resource consumption, and also help diversify the feedstock portfolio.
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The renewable chemicals market is currently facing considerable competition from conventional chemicals derived from petrochemical feedstock. Because the chemicals market is susceptible to the volatility in crude oil prices, market participants are increasingly experiencing the need to make a paradigm shift from petrochemical feedstock to renewable feedstock. This move would not only bring in economic benefits, it would also successfully address the rising concern over greenhouse gas emissions and their lasting impact on the natural environment.
We have used various secondary sources such as The company's Annual Reports, Organizational Websites and Databases to identify and collect information useful for this extensive commercial study of renewable chemicals. The primary sources - selected experts from related industries and selected suppliers have been interviewed to obtain & verify critical information as well as to assess the future prospects of renewable chemicals.
This report analyzes the global markets for major renewable chemicals such as alcohols, polymers, ketones, and acids; along with the major applications of renewable chemicals. The report also analyzes various end-use segments for these products; and familiarizes the industry players with the market trends, opportunities, drivers, and inhibitors.
This report identifies the factors driving as well as inhibiting the growth of each segment to support its analysis of market trends and forecasts. The market segments are sized for major geographical markets of North America, Europe, Asia, and Rest of the World (ROW). In addition to the market size, data trends, and forecasts, the report also highlights key market opportunities for the stakeholders and presents a competitive landscape analysis in which it profiles the key market developments of the top 20 companies in the renewable chemicals space.
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