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Ethanol Leads Renewable Chemicals Market; Polymers Sector 14.3% CAGR Growth Forecasted by 2018 Says New Research Report at ReportsnReports.com
Date:6/25/2013

Dallas, Texas (PRWEB) June 25, 2013

The renewable chemical market is driven by the increasing demand from the food packaging industry, biodegradable & compostable plastics, and other consumer products. The renewable chemicals market is estimated to reach $83.4 billion by 2018 with a CARG of 7.7%. While alcohols currently form the largest segment of the renewable chemicals market, the polymers segment holds the maximum growth potential at an expected CAGR of 14.3% from 2013 to 2018.

The renewable chemicals market (http://www.reportsnreports.com/reports/256090-renewable-chemicals-market-alcohols-ethanol-methanol-biopolymers-starch-pla-pha-polyethylene-others-platform-chemicals-others-global-trends-forecasts-to-2018.html) includes all the chemicals obtained from renewable feedstock such as agricultural raw materials, agricultural waste products or biomass microorganisms etc. The development of this market is driven by the fact that renewable chemicals decouple economic growth from finite, non-renewable resource consumption, and also help diversify the feedstock portfolio.

The renewable chemicals market is currently facing considerable competition from conventional chemicals derived from petrochemical feedstock. Because the chemicals market is susceptible to the volatility in crude oil prices, market participants are increasingly experiencing the need to make a paradigm shift from petrochemical feedstock to renewable feedstock. This move would not only bring in economic benefits, it would also successfully address the rising concern over greenhouse gas emissions and their lasting impact on the natural environment.

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