Global Green Chemicals Market: Overview
“The global Green chemicals market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Green chemicals, also known as bio-based chemicals 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 the 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 the 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 the growth of the global market to a significant extent.
Increasing government initiatives and investments for the green cities 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 the growth of the green chemicals market.
However, the high cost of end-product as compared to petroleum-based chemicals owing to its complex technology process is a major factor expected to hamper the growth of the global market.
Increasing funding and initiatives by the 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 opportunities 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 properties.
Among application segments, the construction segment is projected to register the highest revenue growth in the target market. This is due to the increasing demand for green chemicals in the construction industry, as it is sustainable and can be easily recycled.
Global Green Chemicals Market: Region Analysis
The North American market is expected to account for a significant revenue share contribution and is projected to dominate the global green chemicals market in the next 10 years. This is attributable to the growing demand for sustainable products, coupled with the presence of prominent players in countries in the North American region.
The Europe market is projected to register considerable revenue share in the global market in years to come, followed by the Asia Pacific market.
The Asia Pacific green chemicals market is expected to register the 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
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- 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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