Multiple market applications are being targeted that broadens the horizon further for bio-based materials.

Climate change is real. It is happening right now. It is the most urgent threat facing our entire species, and we need to work collectively together and stop procrastinating.

We need to support leaders around the world who do not speak for the big polluters, but who speak for all of humanity, for the indigenous people of the world, for the billions and billions of underprivileged people out there who would be most affected by this. For our children’s children and for those people out there whose voices have been drowned out by the politics of greed.I thank you all for this amazing award tonight. Let us not take this planet for granted. I do not take tonight for granted. Thank you so very much

Leonardo DiCaprio, Acceptance speech at Oscar Awards 2016

If DiCaprio didn’t have enough fans already, he definitely earned many more after making this speech! The actor’s fan following of course is a subject for discussion on other forums. Here, we must focus on the environmental aspects and how it is impacting the world of chemicals.

Bio-based or renewable alternatives to petrol-based chemicals have already made significant inroads into this industry and this segment has consistently been on the rise. The Global Renewable Chemicals Market is projected to reach USD 84.3 Billion by 2020 (CAGR of 11.47% between 2015 and 2020).

To give a sense of how significant this market value is, let’s look at the stats for Specialty Chemicals Market. It is projected to reach USD 470 Billion by 2020 (CAGR of 5.42% between 2015 and 2020). Interesting to note here is that the renewable chemicals market, which is one-fifth the size of specialty chemicals, is expected to grow at double the pace during the same time frame!