Growing adoption of biorenewable chemicals is an outcome of green chemistry initiatives wherein natural renewable sources of energy are used to produce certain industrially important chemicals. These renewable sources of energy include organic waste products, biomass, agricultural feedstock, microorganisms and agricultural wastes. Biorenewable chemicals are emerging as potential substitutes for petroleum-based or fossil-based chemicals.
The biorenewable chemicals market is anticipated to grow in the forecast period owing to driving factors such as increasing prices of fossil fuels and shifting focus of investors towards environment friendly chemicals. Regulatory framework encouraging environment friendly innovations and sustainable alternatives further boosts the biorenewable chemicals market. However, the market growth is hindered in obtaining cost-effective raw materials.
Amyris Inc., BASF SE, E. I. du Pont de Nemours and Company, Elevance Renewable Sciences, Inc., GC Innovation America., Genomatica, Inc, Gevo, Inc., LanzaTech, Royal DSM N.V., Virent Energy Systems, Inc.
The reports cover key developments in the biorenewable chemicals market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations.