Green Chemicals Market Segments, Drivers, Restraints, And Trends For 2024-2033
Green Chemicals Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Green Chemicals Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, August 5, 2024 /EINPresswire.com/ -- The green chemicals market1 has experienced robust growth in recent years, expanding 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.
Strong Future Growth Anticipated
The green chemicals market is projected to continue its strong growth, reaching $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.
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Growth Driver Of The Green Chemicals Market
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.
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Major Players And Market Trends
Key players in the green chemicals market include Cargill Inc., BASF SE, Mitsubishi Chemical Holdings Corporation, BioAmber Inc., DuPont de Nemours Inc., Arkema Group.
Major companies operating in the green chemicals market are increasing their focus on introducing innovative and cost-effective solutions, such as green solvents, to maximize their revenues in the market. Green solvents, often known as environmentally friendly or sustainable solvents, refer to substances used in various industrial processes and applications that are designed to minimize environmental impact, reduce toxicity, and promote sustainability.
Segments:
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
Geographical Insights: Europe Leading The Market
Europe was the largest region in the green chemicals market in 2023. The regions covered in the green chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Green Chemicals Market Definition3
Green chemicals refer to environmentally friendly chemicals that focus on designing chemical products and processes that minimize or eliminate the use and generation of hazardous substances throughout their entire life cycle. Green chemicals reduce the use or age of dangerous substances, prevent pollution, and promote sustainability.
Green Chemicals Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Green Chemicals Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on green chemicals market size, green chemicals market drivers and trends, green chemicals market major players, green chemicals competitors' revenues, green chemicals market positioning, and green chemicals market growth across geographies. The green chemicals market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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