The global renewable chemicals market size was US$ 84.1 billion in 2021. The global renewable chemicals market is forecast to grow to US$ 249.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 12.1% during the forecast period from 2022 to 2030.
Renewable chemicals, also referred to as bio-based chemicals, are made from natural and bio-based raw materials. These chemicals are specifically derived from agricultural waste, agricultural feedstock, organic waste products, biomass, and microorganisms. Renewable chemicals have emerged as potential replacements for petroleum-based chemicals, owing to their lower carbon footprints and being more environmentally friendly. Polymeric and monomeric are among the most commonly used renewable chemicals. These chemicals find a wide range of applications in surfactants and lubricants, consumer goods, resins, and plastics. Apart from that, various industries, such as chemical industries, housing, transportation, food processing, pharmaceuticals, textiles, etc., use these chemicals in the process.

Factors Influencing the Market
The global renewable chemicals market is expected to expand substantially due to raising environmental awareness among consumers. Further, rising government support for eco-friendly sources and processes will also contribute to the growth of the market.
The global renewable chemicals market may witness substantial growth opportunities due to a growing range of technological advancements, which will drive the market forward.
Increasing greenhouse gas emissions, combined with the rising prices of fuel, will also be opportunistic for the global renewable chemicals market. On the contrary, the high cost of production associated with renewable chemicals may limit the growth of the global renewable chemicals market.

COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the transportation sector witnessed a sharp drop across various countries, which ultimately affected the global renewable chemicals market. Moreover, the high cost of renewable chemicals and their effect on consumer purchasing power substantially declined the growth of the global renewable chemicals market. Post-pandemic, the market will record a substantial growth rate as this global crisis highlighted the demand to save nature and look over health.

Regional Analysis
The Asia-Pacific renewable chemicals market is forecast to record a substantial growth rate, owing to the availability of abundant raw materials and low labor costs. In addition to that, rapid urbanization and industrialization will also contribute to the growth of the renewable chemicals market. Stringent regulation on the use of fossil fuels will also highlight the need to use the environment-friendly product, which in turn, will be opportunistic for the renewable chemicals market.

Competitors in the Market
Archer-Daniels-Midland Company
Amyris Inc.
BASF SE
Bioamber Inc.
Biomethanol Chemie Nederland B.V.
Braskem
Cargill Inc.
DSM
DU Pont DE Nemours & Company
Evonik Industries AG
Genomatica Inc
Other Prominent Players

Market Segmentation
The global renewable chemicals market segmentation focuses on Product, Application, and Region.
By Product Type
Alcohols
Ethanol
Methanol
Biopolymers
Ketones
Platform Chemicals
Organic Acids
Others.
By Application
Agriculture
Textiles
Environment
Transportation
Food & Beverage Packaging
Communication
Bio-Medical
Others
By Region
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America