TechNavio recognizes the following companies as the key players in the Global Renewable Chemicals Market: BASF SE, BioAmber Inc., Braskem S.A., and NatureWorks LLC.
Commenting on the report, an analyst from TechNavio’s team said: “Globally, more and more multinational corporations are striving to become greener and are adopting eco-friendly business practices. Manufacturers of consumable goods are adopting renewable chemicals and materials for the manufacture of their products. These companies are laying more emphasis on issues related to the environmental and the life cycle impact of their products. Such practices are helping renewable chemicals vendors gain support from multinational enterprises to sustain them in the market, until their production processes become cost-effective. For instance, companies such as Nestlé have already adopted and started packaging their products using biodegradable plastics, manufactured from renewable raw materials, in some regions. Moreover, many large enterprises are sponsoring R&D activities to develop products and applications for renewable chemicals.”
According to the report, one of the major drivers in this market is the increasing demand for eco-friendly chemicals and materials. The growth of this market is positively influenced by reducing dependence on petroleum-based feedstock. Furthermore, the availability of bio-based feedstock in abundance in almost all regions of the world has resulted in the increasing adoption of sustainable production technologies by chemical manufacturers, thus leading to the growth of the Global Renewable Chemicals market.
Further, the report states that one of the major challenges in this market is the fear that the production of renewable chemicals could trigger a global food crisis as food crops are increasingly being used for the production of such chemicals. Their production has negative effects on the global food supply due to their excessive use of agricultural products.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-renewable-chemicals-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/healthcare-chemicals-food-retail
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TechNavio Announces the Publication of its Research Report -Global Renewable Chemicals Market 2012-2016
