US and Europe together hold more than 60 percent share in global renewable chemicals market
Advances in biotechnology are making renewable polymers and bio-based chemicals to compete on par with petroleum-based polymers in terms of performance, cost and other additional benefits such as reduced greenhouse gas emissions. Further drivers for renewable chemical market include the desire to reduce dependency on fossil fuels, through renewable sourcing, sustainability and decreasing landfill space. As stated by the new market research report on renewable chemicals, the United States and Europe together accounts for more than 60 percent of the global renewable chemicals market.
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