Scienza e Tecnologia
Biopolymer Usage in Packaging to Provide Renewable Chemicals US$ 262.9 Bn Market Opportunity by 2032
NEW YORK , June 14, 2022 /PRNewswire/ -- The global renewable chemicals market size is expected to be valued at US$ 262.9 Bn in 2032 and exhibit growth at a CAGR of 10.6% throughout the forecast period (2022-2032). Implementation of stringent norms by government bodies to push the adoption of eco-friendly materials among various industries is set to aid growth.
As per the report, sales in the global renewable chemicals market are projected to reach US$ 95.8 Bn in 2022. Increasing greenhouse gas emissions and hazardous waste disposal practices by organizations worldwide are encouraging chemical manufacturers to produce renewable or green chemicals.
Numerous beneficial properties of renewable chemicals, including end-of-pipe treatments and relatively low cost are also projected to foster growth. In addition, ongoing technological advancements, such as using old bottles for the manufacturing of polyurethane raw materials is likely to bolster growth.
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Further, rapid expansion of the food & beverage and e-commerce industries in the U.S. would push the usage of ketones and biopolymers in packaging. Besides, rising adoption of ethylene glycol as a coolant in vehicle engines across the U.S. is set to augment growth.
Increasing utilization of ethanol and methanol in the pharmaceutical, beverages, and cosmetics industries across the globe is another crucial factor that is projected to drive the U.S. market. High demand for biopolymers in drug delivery and tissue engineering applications is expected to aid growth.
Moreover, increasing government initiatives in China and India to propel the production of renewable chemicals for reducing emissions are set to spur growth. Surging demand for acetic acid, formic acid, and organic acid in the pharmaceutical industry is also expected to accelerate the market.
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Key players operating in the global renewable chemicals market are persistently striving to come up with novel solutions to expand their existing product portfolios. A few other key players are mainly focusing on partnerships and signing contracts with regional or start-up companies across the globe to jointly develop innovative products and broaden their distribution networks.
For instance,
In the latest study, Fact.MR offers a detailed study on global renewable chemicals market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of renewable chemicals through detailed segmentation as follows:
: As per Fact.MR, the global renewable PVDF market is projected to grow at 9% CAGR in the forecast period from 2021 to 2031. Increasing usage of lithium-ion batteries equipped with renewable PVDF for binding electrodes in the automotive industry is set to aid growth.
: Rising focus of manufacturers on the development of biorenewable and bio-based products, including catalysts is expected to bode well for the global market. In addition to that, the easy availability of various types of biorenewable catalysts, such as alumina, nickel, and copper catalysts is likely to spur growth.
: Surging industrial automation and increasing focus of manufacturers on optimal operational efficiency are some of the major factors expected to drive sales of chemical control systems in future. Besides, urgent need to adopt innovative technologies and growing concerns related to water treatment methods are set to propel growth.
Bio-based platform chemicals are a class of chemical building blocks that can be made from sugar using a biological conversion method. One of the primary drivers driving the market's favorable outlook is significant expansion in the chemical and pharmaceutical industries.
The increasing rise in the manufacturing and construction sectors is driving the global synthetic quartz market. Synthetic quartz's use in the automotive and electronics industries is projected to drive demand for synthetic quartz.
- Rising demand for high pure silica in electronics and semiconductor appliances is expected to boost sales. The rise of the automotive industry has provided manufacturers with several options.
- The rapid expansion of traditional businesses such as glass manufacturing is credited with driving industry growth. Silicon dioxide is a key component in the production of glass, and it can be found in large quantities in industrial silica sand.
Growth in the fumaric acid market is attributed to the expansion of food & beverage industry. As per Fact.MR, over 25% of fumaric acid sales are concentrated in food & beverage industry. Use of fumaric acid in food processing and other industries such as pharmaceuticals and rubber will drive the market over the forthcoming decade.
The demand for ethoxylates as intermediates during the manufacturing of detergents, paints, and cosmetics is surging. Ethoxylates are primarily used in industrial applications attributing its high water solubility and low aquatic toxicity. This is one of the key factor driving the growth in the ethoxylates market.
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