Global Renewable Chemicals Market to Grow at CAGR of 7.32 Percent from 2012-16, Predicts TechNavio

摘要

TechNavio's analysts forecast the "Global Renewable Chemicals" market to grow at a CAGR of 7.32 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for eco-friendly chemicals and materials. The global renewable chemicals market has also been witnessing the adoption of eco-friendly bio-based chemicals and materials by major companies around the world in order to reduce greenhouse gas emissions. However, the possibility that production of renewable chemicals could trigger a global food crisis could pose a challenge to the growth of this market.