Renewable Chemicals Market Worth $83.4 Billion by 2018
DALLAS, TX – A new report by research firm MarketsandMarkets predicts that the renewable chemicals market will grow from an estimated $57.5 billion in 2012 to $83.4 billion by 2018, with a CAGR of 7.7 percent from 2013 to 2018. The report, titled Renewable Chemicals Market - Alcohols (Ethanol, Methanol), Biopolymers (Starch, PLA, PHA, Polyethylene and Others), Platform Chemicals and Others - Global Trends and Forecasts to 2018, defines and segments the global renewable chemicals market with analysis and forecasting of global volume and revenue.
The emergence of bio-feedstock and bio-based commodity polymers production, in tandem with increasing oil prices, rising consumer consciousness, and improving economics, has ushered in a new and exciting era of renewable chemical commercialization. However, factors such as economic viability, product quality and performance, and scale of operation will still play important roles in determining the commercialization spectrum.