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

Policy support market optimism

GIA's Renewable Chemicals: Global Business Strategy Report shows that the market share of chemicals produced from renewable microorganisms, agricultural and forestry wastes and biomass will increase. Although the financial crisis has led to a decline in the global credit market, which has had a negative impact on the financing and product demand for renewable chemical projects, the outlook for the industry remains positive and the market drivers for alternative technologies remain strong. In addition, with the rapid growth of population, economic expansion in developing countries, and rising energy demand, coupled with the policies of various countries, many scientific research institutions and manufacturers around the world will continue to strengthen investment in renewable chemicals, mainly for the production of personal consumer goods, Plastics, surfactants, lubricants, etc., to achieve environmental remediation and air pollution control goals.

In the field of consumption, experts said 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 great potential of renewable chemicals in reducing fossil fuel consumption, simplifying production process and reducing production costs, Therefore, the production of biofuels from renewable raw materials has become the first choice for manufacturers. GIA believes that transportation will be the largest end market for renewable chemicals by 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 for 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 will become a huge potential market for renewable chemicals in the future due to the increasing consumption of fossil energy.

Specialty chemicals into a new favorite

Analysts said that the current global specialty chemicals market has reached 500 billion billion U.S. dollars, and this field will become a stage for renewable chemicals to show their talents. More and more renewable chemical companies have shifted their business development to the specialty chemicals industry. On the one hand, they can find another way in the competition. On the other hand, specialty chemicals have high added value and considerable profits.

While many companies are still haggling with the government and gasoline producers over the profitability of producing corn fuel, Elevance companies have begun to produce chemicals from corn and other crops. The cost of making chemicals from renewable biomass is similar to that of producing ethanol from agricultural products, but the price of chemicals can generally be more than twice that of ethanol fuel. The current price of corn fuel is $1.65/gallon, while soybean-based chemicals sell for as much as $4.50/gallon. Elevance company's products are involved in everything from cosmetics to industrial lubricants. Although the current sales are only $10 million, it is expected to grow to $1 billion in 2016.