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Growing Environmental Concerns Is Expected To Boost The Growth In The Global Renewable Chemicals Market

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Pooja Khodke
Growing Environmental Concerns Is Expected To Boost The Growth In The Global Renewable Chemicals Market

The global Renewable Chemicals Market is estimated to be valued at Us$ 625.32 Mn in 2023 and is expected to exhibit a CAGR Of 7.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Renewable chemicals are derived from agricultural feedstocks like corn, sugarcane and cellulosic biomass. These chemicals have important applications as intermediates in detergents, cosmetics, lubricants, solvents and plastic applications. The demand for renewable chemicals is increasing due to the growing need for biodegradable and environment-friendly products.

Market Overview:


Renewable chemicals have properties similar to petrochemicals but are derived from renewable feedstock instead of fossil fuels. They are biodegradable and reduce dependence on crude oil. Renewable chemicals find wide applications in various end-use industries like automotive, construction, healthcare, packaging etc.

Market key trends:


Strong government policies and regulations regarding use of bio-based products along with rising crude oil prices are driving the demand for renewable chemicals. Significant investments by major players in R&D of novel biomass conversion technologies will further accelerate the market growth over the forecast period. Growing environmental concerns have boosted the replacement of petroleum-derived chemicals with renewable alternatives across different industries. However, high production costs and limited availability of feedstock poses a major challenge to the renewable chemicals market.

Segment Analysis


The dodecanedioic acid market is segmented into polymer plasticizers, lubricants, surfactants, and others. The polymer plasticizers segment dominated the market in 2022 and is expected to maintain its dominance over the forecast period. Dodecanedioic acid finds widespread application in the manufacture of plasticizers for polymers like PVC. It can significantly increase the flexibility and durability of PVC without compromising its chemical resistance and weatherability.

Key Takeaways


The Global Dodecanedioic Acid Market Demand is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing demand from end-use industries like plastics, lubricants, and surfactants.

Regional analysis


Asia Pacific dominated the global market in 2022 and is expected to grow at the fastest rate during the forecast period. The presence of rapidly expanding end-use industries in major economies like China and India is propelling the growth of the dodecanedioic acid market in the region.

Key players


Key players operating in the dodecanedioic acid market are BEYO Chemical Co., Ltd., Cathay Biotech Inc., Chemceed, Evonik Industries AG, Haihang Industry, Selleck Chemicals, Serena Chemicals, TCI Chemicals (India) Pvt. Ltd., Thermo Fisher Scientific Inc., and UBE Industries, Ltd. The global dodecanedioic acid market is fragmented with the presence of several big and small players competing for market share.



Explorer more information on this topic, Please visit :


https://www.insightprobing.com/the-growing-demand-for-bio-based-polyesters-to-boost-the-growth-of-dodecanedioic-acid-market/

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