The Green Chemicals Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Green Chemicals Global Market Report 2024, The green chemicals market size has grown rapidly in recent years. It will grow from $108.53 billion in 2023 to $121.2 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to regulatory push for sustainable practices, consumer demand for eco-friendly products, increased awareness of environmental impact, adoption of renewable feedstocks, expansion of bio-based polymers and plastics.
The green chemicals market size is expected to see rapid growth in the next few years. It will grow to $179.96 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to demand for safer and non-toxic chemicals, integration of circular economy principles, rise of sustainable packaging solutions, expansion of green solvents and surfactants, focus on carbon-neutral chemical manufacturing, emphasis on transparency and eco-labeling, expansion of bio-based adhesives and sealants, adoption of plant-based chemicals in pharmaceuticals, growth in green chemistry education and training
. Major trends in the forecast period include integration of machine learning in green chemistry, advances in green chemistry technologies, technological innovations in biotechnology,development of biodegradable and compostable plastics, utilization of artificial intelligence in green chemistry.
The rising demand for bioethanol is expected to propel the growth of the green chemicals market going forward. Bioethanol is a fuel additive made from agricultural goods (such as sugar cane or corn). Bioethanol has gained popularity as a green chemical due to its environmentally friendly properties. It is a clean-burning fuel with greenhouse gas emissions that are lower than those of fossil fuels. For instance, in March 2023, according to The German Bioethanol Industry Association, a Germany-based association that represents the interests of the biofuel sector’s companies and associations, the German production of bioethanol increased by 2% from 701,000 tons in 2021 to 715,000 tons in 2022. Further, in 2021, around 157,000 tons of bioethanol were used to produce ethyl tertiary butyl ether (ETBE). Therefore, the rising demand for bioethanol is driving the growth of the green chemicals market.
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The green chemicals market covered in this report is segmented –
1) By Type: Bio-Alcohols, Bio-Organic Acids, Bio-Ketones, Biopolymers, Other Types
2) By Technology: Bioprocessing, Fermentation, Enzymatic Processes, Metabolic Engineering, Other Technologies
3) By Raw Materials: Agricultural Waste, Biomass, Microorganisms, Sugar And Starch Crops, Other Raw Materials
4) By Applications: Construction, Healthcare, Pharmaceuticals And Personal Care Products, Packaging, Food And Beverages, Paints And Coatings, Automotive, Agriculture, Other Applications
Technological advancements are a key trend gaining popularity in the green chemicals market. Major companies operating in the green chemicals market are adopting new technologies, such as Praedicat’s unique technology, to sustain their position in the market. For instance, in May 2022, VelocityEHS, a US-based software company, launched the Green Chemistry Offering to continuously evaluate and update the risk profile of in-use chemicals based on the potential for harm using Praedicat’s unique technology to scan thousands of scientific journals in real-time actively. Customers will get rapid and straightforward access to predicted risk profiling for chemicals, allowing them to choose safer options before the competition.
The green chemicals market report table of contents includes:
1. Executive Summary
2.Green Chemicals Market Characteristics
3.Green Chemicals Market Trends And Strategies
4. Green Chemicals market analysis
5.Green Chemicals Market Size And Growth
6. Green Chemicals Segmentation
7. Green Chemicals Regional And Country Analysis
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27. Green Chemicals Competitive Landscape And Company Profiles
28. Green Chemicals Key Mergers And Acquisitions
29.Green Chemicals Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Cargill Inc.
- BASF SE
- Mitsubishi Chemical Holdings Corporation
- BioAmber Inc.
- DuPont de Nemours Inc.
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