“Global Green Chemicals Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global green chemicals market report has been segmented on the basis of product type, application, and region.
Global Green Chemicals Market: Overview
Green chemicals, also known as bio-based chemicals that are renewable and produced from bio-feedstock. These chemicals are eco-friendly and less harmful as compared to petroleum-based chemicals. The raw materials used in production of green chemicals are vegetable oils, corn, sugarcane, sugar beet, wheat, cassava, and others. These chemicals are widely used in various applications such as construction, automotive, packaging, agriculture, and others.
Global Green Chemicals Market: Dynamics
Growing demand for green chemicals in various applications such as construction, packaging, automotive, and others owing to its properties is a major factor expected to drive growth of the global green chemicals market in the next coming years. Additionally, growing awareness among consumers for sustainable products is another factor expected to further fuel growth of the global market to a significant extent. Increasing government initiatives and investments for green city in developed as well as developing countries, coupled with rising demand for green chemicals in various infrastructural plans, and volatility in oil prices, are factors further boosting demand for green chemicals in the target market. Furthermore, stringent regulations and rules pertaining to environmental concern for recycling, disposal, and others have a positive impact and is expected to support growth of the green chemicals market.
However, high cost of end-product as compared to petroleum-based chemicals owing to its complex technology process is a major factor expected to hamper growth of the global market.
Increasing funding and initiatives by government owing to rising demand for green chemicals in various applications to produce sustainable end-product. This is a dynamic factor expected to create lucrative opportunity for manufacturers operating in the target market.
Global Green Chemicals Market: Segment Analysis
Among product type segments, the bio-alcohols segment is expected to account for significant growth in terms of revenue in the target market, owing to its wide usage in various applications and eco-friendly property.
Among application segments, the construction segment is projected to register highest revenue growth in the target market. This is due to increasing demand for green chemicals in construction industry, as it is sustainable and can be easily recycled.
Global Green Chemicals Market: Region Analysis
The North America market is expected to account for significant revenue share contribution and projected to dominate in the global green chemicals market in the next 10 years. This is attributable to growing demand for sustainable products, coupled with presence of prominent players in countries in the North America region. The Europe market is projected to register considerable revenue share in the global market in years to come, followed by Asia Pacific market. The Asia Pacific green chemicals market is expected to register fastest growth rate in the global market in the next coming years, owing to growing environmental concerns, rapid industrialization, coupled with increasing government initiatives and funding in various industries.
Global Green Chemicals Market Segmentation:
Segmentation on the Basis of Product Type:
- Bio-organic Acids
- Platform Chemicals
- Others (Bio-based 1,3-PDO, ECH, and 1,4-BDO)
Segmentation on the Basis of Application:
- Food & Beverages
- Paints & Coatings
- Other Applications (Textile, etc.)
Segmentation on the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- BioAmber Inc.
- Braskem S.A.
- Cargill Inc.
- Koninklijke DSM N.V.
- BASF SE
- DowDuPont Inc.
- INEOS Group Ltd.
- Myriant Technologies LLC
- Novozymes A/S
- Metabolix Inc.
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