The global renewable chemicals market analysis report released by global industrial analysis company (GIA) recently shows that driven by product innovation, government support, rising energy prices, increasing consumer awareness of environmental protection and other factors, the global market share of renewable chemicals will increase rapidly, and the market size is expected to reach 56.9 billion US dollars by 2015, and will compete with traditional petrochemical products.

Policy supports market optimism

According to the report of renewable chemicals: global business strategy released by GIA, the market share of chemicals produced from renewable microorganisms, agricultural and forestry wastes and biomass will increase sharply. Despite the global credit market recession caused by the financial crisis, which has a certain negative impact on the financing and product demand of renewable chemical projects, the prospect of the industry is still optimistic, and the market driving force of alternative technology is still strong. In addition, with the rapid growth of population, the economic expansion of developing countries, and the increasing energy demand, as well as the policies of various countries, many scientific research institutions and production enterprises around the world will continue to strengthen investment in renewable chemicals, mainly for the production of personal consumer goods, plastics, surfactants, lubricants, etc., so as to achieve the objectives of environmental remediation and air pollution control.

In the field of consumption, experts say that compared with renewable chemicals such as polymerized monomers and functional chemicals, liquid biofuels have the advantages of short production process, low technical threshold and good product performance, which can give full play to the huge potential of renewable chemicals in reducing fossil fuel consumption, simplifying production processes and reducing production costs. Therefore, renewable raw materials are currently used To produce biofuels has become the first choice of producers. According to GIA, transportation will become the largest end market of renewable chemicals in terms of product use, accounting for 25% of the global market share. In addition, food processing, personal consumer goods, pharmaceuticals, biodegradable plastics and other industries will also become the main market of renewable chemicals. The United States and Europe will continue to maintain their leading position in the field of renewable chemicals, accounting for more than 60% of the global market share. However, China, India, Russia and other countries with rapid economic development, due to the increasing consumption of fossil energy, will also become a huge potential market for renewable chemicals in the future.

Special chemicals become a new favorite

Analysts said that the global market for specialty chemicals has reached US $500 billion, and the field will become a stage for renewable chemicals to show their skills. More and more renewable chemical enterprises have turned their business development field to special chemical industry. On the one hand, they can find another way in the competition, on the other hand, special chemicals have high added value and considerable profits.

While many companies are still haggling with governments and gasoline producers to make corn fuel profitable, elevance has started to produce chemicals from corn and other crops. The cost of using renewable biomass to produce chemicals is almost the same as using agricultural products to produce ethanol, but the price of chemicals is generally more than twice that of ethanol fuel. At present, the price of corn fuel is $1.65/gallon, while the price of soybean based chemicals is as high as $4.50/gallon. Elevance's products range from cosmetics to industrial lubricants. Although the current sales volume is only US $10 million, it is expected to grow to US $1 billion in 2016.