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What Is The Expected Cagr For The Renewable Chemicals Market Through 2025?
The size of the renewable chemicals market has expanded significantly in the past few years. It is set to rise from $117.68 billion in 2024 to $130.04 billion in 2025, with a compound annual growth rate (CAGR) of 10.5%. Factors contributing to the growth during the historical time frame include escalating environmental anxieties, a surge in consumer preference for eco-friendly products, inconsistent petrochemical costs, official encouragement and incentives, an uptake in business sustainability drives, and increasing consumer knowledge and education.

The market size of renewable chemicals is predicted to experience substantial expansion in the upcoming years, with its value estimated to reach $216.5 billion in 2029, growing at a compound annual growth rate (CAGR) of 13.6%. The anticipated increase over the forecast period can be associated with the rising use of bio-based aviation fuels, an increased adoption of renewable solvent, escalated investment in renewable chemical initiatives, emphasis on sustainable farming methods, and the creation of cutting-edge bio-based materials. Key trends during the projected period encompass a shift towards bio-based feedstocks, the co-production of biofuel, sophisticated bioconversion technologies, growth of renewable platform chemicals, alliances and collaborations, market advancements in Asia-Pacific, and the introduction of renewable lubricants and additives.

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What Are The Driving Factors Impacting The Renewable Chemicals Market?
The rise in demand from the car manufacturing industry is anticipated to stimulate the renewable chemicals market growth. The creation of vehicles involves the use of biopolymers from renewable resources, tailored for automotive usage. For example, May 2022 statistics from the Society of Indian Automobile Manufacturers (SIAM), an Indian non-profit organization representing car makers, reveal that car production has witnessed a surge over the past two years. The total manufacture improved from 22,655,609 units in 2020-21 to 22,933,230 units in 2021-22. A May 2022 publication by the China Association of Automobile Manufacturers, a non-profit social entity based in China, mentions auto sales in China reached 27.5 million in 2022, a 5.4% rise. Consequently, the escalating demand from the automotive sector is fueling expansion in the renewable chemicals market.

Which Players Dominate The Renewable Chemicals Industry Landscape?
Major players in the Renewable Chemicals include:
. Archer-Daniels-Midland Company
. Amyris Inc.
. BASF SE
. Bioamber Inc.
. Biomethanol Chemie Nederland BV
. Corbion NV
. Metabolix Inc.
. Genomatica Inc.
. NatureWorks LLC
. Novozymes A/S

What Are The Future Trends Of The Renewable Chemicals Market?
Product innovation is witnessing a surge in prominence in the renewable chemicals sector. Top-tier companies in this sector are centred on harnessing technology to enhance their market standing. Evonik Industries, a German specialty chemicals corporation, exemplifies this trend. In March 2022, it launched a sustainable isophorone product line, produced entirely from renewable acetone. The company's offerings are known for their significantly reduced CO2 footprint at every stage. Created for usage as sustainable raw materials in areas such as paints, varnishes, binders, and automobile interiors, the newly introduced products under the VESTA eCO Grades line marks a progressive step in the renewable chemicals industry.

Global Renewable Chemicals Market Segmentation By Type, Application, And Region
The renewable chemicalsmarket covered in this report is segmented –
1) By Product Type: Ethanol, Ketones, Biopolymers, Platform Chemicals, Other Product Types
2) By Feedstocks: Biomass, Corn, Sugarcane, Algae, Other Feedstocks
3) By End-Use: Automotive, Medical, Food And Beverages, Petrochemicals, Textiles, Agriculture, Other End-Uses

Subsegments:
1) By Ethanol: Bioethanol, Cellulosic Ethanol
2) By Ketones: Acetone, Methyl Ethyl Ketone (MEK), Other Ketones
3) By Biopolymers: Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Starch-Based Polymers, Other Biopolymers
4) By Platform Chemicals: Furfural, Levulinic Acid, Succinic Acid, Other Platform Chemicals
5) By Other Product Types: Glycerol, Lactic Acid, Other Renewable Chemicals

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Which Region Holds The Largest Market Share In The Renewable Chemicals Market?
In 2024, North America led as the largest region in the renewable chemicals market. It's predicted that Europe will progress as the quickest growing region in this market during the forecast timeline. The renewable chemicals market report encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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