The European renewable chemical market is anticipated to grow at a CAGR of 8.1% during theforecast period (2021-2027). The rising focus of European Commission (EC) on green chemistry projects to create the awareness regarding the potential benefits of renewable chemical is one of the key factors driving the growth of the European renewable chemical market. The Chemical industry is key contributor to the European economy thus its innovative solutions are necessary to deliver a low carbon and circular economy both within Europe and beyond its borders. In October 2020, the EC adopted the EU Chemicals Strategy for Sustainability as the first step towards a zero pollution ambition for a toxic-free environment announced in the European Green Deal.
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The Strategy is anticipated to boost innovation for safe and sustainable chemicals, and increase protection of human health and the environment against hazardous chemicals which includes restricting use of noxious chemicals in consumer products such as toys, childcare articles, cosmetics, detergents, food contact materials and textiles. However, the high cost of renewable chemicals & unwillingness of chemical manufactures to switch on new technology is anticipated to hinder the growth of the renewable chemical market across the region.
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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A full Report of European Renewable Chemical Market is Available at: https://www.omrglobal.com/industry-reports/europe-renewable-chemical-market
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.)
