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Environmental Concerns & Depleting Fossil Fuels Drive the Global Renewable Chemicals Market, According to New Report by Global Industry Analysts, Inc.
Date:8/5/2013

San Jose, California (PRWEB) August 05, 2013

Follow us on LinkedIn – Over the last century, fossil fuels have been contributing significantly to environmental damage. Production of chemicals using fossil feedstocks releases high concentration of hazardous gases into the atmosphere, the repercussions of which the world is facing in the form of global warming and ozone depletion. Rapidly depleting fossil fuels and escalating energy consumption coupled with rising environmental awareness among nations has led to increased focus on alternate viable eco-friendly and renewable energy sources. The transition towards renewable energy is presenting immense opportunities for renewable chemicals. Growing efforts of governments and organizations directed towards building a bio-based economy is further driving gains in the market.

Produced from renewable feedstocks such as animal, forestry, municipal, household, horticultural, and agricultural waste, Renewable Chemicals are eliciting interest among investors, technology experts, developers, regulatory authorities, consumers, and corporations. Abundant biomass and renewable feedstocks, increased government focus on reducing dependence upon foreign oil and achieving self-sufficiency, international pressure to reduce greenhouse gas emissions, and the desire to reduce dependency on non-renewable petroleum products through renewable sourcing, are all factors poised to benefit the market. Additionally, factors such as sustainability, decreasing landfill space, strong pipeline of innovative bio-based products, and low costs of production of bio-based chemicals are also fueling market growth. Advances in industrial biotechnology are helping renewable polymers and bio-based chemicals to compete w
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