South America Renewable Chemicals Market
The South America renewable chemicals market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Renewable chemicals replaced the demand for traditional petroleum-based chemicals and gained approval in the commercial production of advanced products in many sectors such as food and beverages, agriculture, textiles, transportation, packaging and others. Mostly, they are used in the production of several surfactants and lubricants, plastics, consumer goods, resins, and other such products. In response to the expanding demand for renewable chemicals across diverse industrial sectors, several manufacturers have aided the supply with advanced product development. The demand for renewable chemicals is also rising from the end users of polymers, such as IKEA and Nike. Such companies focus on significant contribution toward sustainability along with maintaining strong image and hedging the rise in oil prices in future. Therefore, expanding industrial base propels the demand for renewable chemicals in South America market.
In South America, Brazil reported a huge number of COVID-19 cases, which led to the discontinuation of several business operations, including renewable chemicals manufacturing activities. The significant decline in the growth of several industrial sectors negatively impacted the demand for renewable chemicals in South America. The disruptions in terms of sourcing of raw materials from suppliers as well as temporary closures of manufacturing bases due to lockdowns and quarantines have impacted the growth of the market during the pandemic. However, as the economies are planning to revive their operations, the demand for renewable chemicals is expected to rise in South America. The expanding demand of renewable chemicals across food & beverages, agriculture, textiles, transportation, packaging, pharmaceuticals, and other industries, along with significant investment by prominent manufacturers, is expected to drive the growth for renewable chemicals.
Strategic insights for the South America Renewable Chemicals provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 13,012.74 Million |
| Market Size by 2028 | US$ 20,643.19 Million |
| Global CAGR (2021 - 2028) | 6.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America Renewable Chemicals refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The renewable chemicals market in South America is expected to grow from US$ 13,012.74 million in 2021 to US$ 20,643.19 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028. Several research studies identify the importance of renewable chemicals, composed of lignocellulose structure, which promotes the concept of bioeconomy and environment. Researchers at several academics and institutions, associations, and companies are developing products that could be effectively used as a substitute to conventional petroleum-derived fuels such as gasoline, jet fuel, and diesel, owing to the growing focus on environment sustainability. The research conducted by them is focused toward introducing and promoting new innovations and trends, along with highlighting practical challenges and relative solutions regarding renewable chemicals. The research and development activities are also supported by manufacturers. For instance, in 2018, Braskem expanded its focus on research, development, and commercialization of chemicals and materials synthesized from renewable feedstocks. The company commenced a new facility in Boston, which focused on leveraging groundbreaking developments in biotechnology and advanced materials including R&D, business and market development, and others. The initiative promotes renewable chemicals and polymers along with advanced product offerings. Following the trend toward the use of renewable chemicals, several manufacturers are producing cost-effective alternatives obtained from renewable resources to implement the use of green and sustainable chemicals and products. Therefore, the rising focus on research and development activities is expected to promote the growth of the renewable chemicals market in coming years.
Based on product, the alcohols segment accounted for the largest share of the South America renewable chemicals market in 2020. Based on application, the transportation segment accounted for the largest share of the South America renewable chemicals market in 2020.
A few major primary and secondary sources referred to for preparing this report on the South America renewable chemicals market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include the Archer-Daniels-Midland Company (ADM); Cargill Incorporated; DSM; BASF SE.; Amyris Inc.; Evonik Industries AG.; Solvay; the Dow Chemical Company.; Genomatica, Inc. and Braskem SA.
The South America Renewable Chemicals Market is valued at US$ 13,012.74 Million in 2021, it is projected to reach US$ 20,643.19 Million by 2028.
As per our report South America Renewable Chemicals Market, the market size is valued at US$ 13,012.74 Million in 2021, projecting it to reach US$ 20,643.19 Million by 2028. This translates to a CAGR of approximately 6.8% during the forecast period.
The South America Renewable Chemicals Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Renewable Chemicals Market report:
The South America Renewable Chemicals Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Renewable Chemicals Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Renewable Chemicals Market value chain can benefit from the information contained in a comprehensive market report.
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