Green Chemicals and Materials Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2029

Green chemicals and materials are eco-friendly alternatives that are used in place of conventional chemicals and materials. The world has witnessed considerable industrial growth since the industrial revolution, while also witnessing an exponential rise in pollution levels.

For instance, air pollution has risen to such high levels that it is attributed to be one of the leading causes of deaths per year. Air pollution results in around 5 million deaths every year, which amounts to roughly 9% of deaths annually. 

Over 80% of the sewage in developing economies is left untreated, which also pollutes lakes, coastal areas, and rivers. Growth in this market is projected to be slow, owing to the backing out of the U.S. from the Paris accord. In addition to this, the discovery of new shale oil deposits and the price reduction in oil and gas due to the sudden decrease in demand for conventional fuels and the fallout of OPEC and Russia is anticipated to restrict market growth.

Asia-Pacific is anticipated to have the highest growth rate. The sheer number of population, the thriving cosmetics industry in South Korea, and Japan, and the ever-growing sales of consumer products in emerging economies, such as India and Malaysia, among others, is likely to drive the growth of this market across the globe.

These changes are rapidly modifying the technology and regulatory landscape, which has made it difficult for chemical and petrochemical manufacturers to continue with conventional products. These aspects are driving manufacturers to invest more in innovation and invent environment-friendly alternatives. For instance, Pilot Lite and Diageo, a venture management company, launched Pulpex Limited, a sustainable packaging technology company. It created a 100% plastic-free paper-based spirits bottle that is made entirely from sustainably sourced wood. The bottle is likely to make its debut in early 2021 with Johnnie Walker scotch whiskey.

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The Major Players Covered in this Report: Linde, Air Liquide, Air Products and Chemicals, Inc., Engie, Uniper SE, Siemens, Green Hydrogen Systems, Hydrogenics, Toshiba Energy Systems & Solutions Corporation, Nel ASA, Statkraft, SGH2 Energy Global LLC, & More...

By Technology, Alkaline Electrolyzer, Polymer Electrolyte Membrane (PEM) Electrolyzer, Solid Oxide Electrolyzer,
By Application, Power Generation, Transport, Other (Heating, Energy Storage)

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Green Chemicals and Materials in the APAC Region:
Asia-Pacific region is anticipated to hold the largest market share in the global Green Chemicals and Materials market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Green Chemicals and Materials and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Green Chemicals and Materials. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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Impact of COVID-19:
The pandemic has resulted in global lockdowns at national and international levels. This has led to the closing down of many micro small and medium enterprises (MSMEs), which has resulted in job losses. These factors have considerably reduced consumer income, which is among the primary drivers for green chemicals and materials since the B2C segment is among the largest end-user of these products. In addition to this, there has also been a decrease in the prices of oil and gas, which has turned the attention of the industrial users towards using fossil fuels to meet the energy requirement, owing to the low prices. However, international climate change pacts and treaties is likely to put a restraint on such rampant and continued usage of conventional fuels in the long term.

Key Questions Answered in the Report:
What is the current scenario of the Global Green Chemicals and Materials market? How is the market going to prosper throughout the forecast period?

What are the emerging technologies and related tools that are going to profit the market?

What is the current size of the Global Green Chemicals and Materials Market?

Which segments are the fastest growing and the largest in the market? What is their market potential?

What are the driving factors contributing to market growth during the short, medium, and long term?

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