The North American renewable chemical market is anticipated to grow at a CAGR of 8.4% during the forecast period (2021-2027). The US government law to promote the adoption of Green Chemistry concepts in federal grants is anticipated to drive the growth of the renewable chemical across the region. The green chemistry discoveries and inventions are potential and vital for the mission of every agency ranging from energy to agriculture, from commerce to defense, from the National Institutes of Health to the Environmental Protection Agency.
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Looking towards the potential of green chemistry in creating environment sustainability the US government has made reform in the existing law to increase innovation, coordination, and investment in green and sustainable chemistry. This legislation is further anticipated to promote federal agencies to incorporate green chemistry requirements into grants they offer to academic researchers. Such type of cohesive government endeavour to promote green chemistry is anticipated to drive the growth of the renewable chemical market across the North America. However, the high cost of renewable chemicals & unwillingness of chemical manufactures to switch on new technology is anticipated to hinder the growth of the North American renewable chemical market.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
Segment Covered-
- By Product Type
- By Application
Competitive Landscape- Solvay SA, Amyris Inc., BASF SE, Bioamber Inc., Braskem SA, Cargill Inc., Evonik Industries AG
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Renewable chemical Market Report Segment
By Product Type
- Alcohols
- Organic Acids
- Ketones
- Platform Chemicals
- Biopolymers
- Others (Bio-based 1,3-PDO, ECH, and 1,4-BDO))
By Applications
- Transportation
- Textiles
- Food safety
- Housing
- Bio-Medical
- Agriculture
- Other Applications
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
