RENEWABLE CHEMICALS MARKET ANALYSIS

Market News

Key Developments

1. Major companies are adopting business expansion strategy, in order to gain competitive edge in the global market. For instance, in April 2018, Braskem, a Brazil-based petrochemical company, expanded its research and development activities of renewable chemicals in Boston, U.S. This will include material science and biotechnology R&D.
2. Key players in the market are focused on various growth strategies such as merger and acquisition, in order to enhance their market presence. For instance, in June 2019, Genomatic, Inc., a biotechnology company, acquired selected assets of Renewable Energy Group, which is the largest supplier of biofuels in North America. It will help Genomatic, Inc. to develop wider range of renewable chemicals.
3. Major companies in the market are involved in various business strategies such as product launches, in order to expand their product portfolio and gain competitive advantage in the market. For instance, in July 2019, Braskem, a Brazil-based petrochemical company, launched first solvent HE-70S, which is made from renewable resources. The solvent will be used in various applications such as adhesives, thickeners, and inks.