Green Chemicals Market Size, Industry Overview, Latest Trends, Growth Factors and Forecast 2024-2032

IMARC Group, a leading market research company, has recently releases report titled "Green Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032." offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

How big is the green chemicals market?

The global green chemicals market size reached US$ 12.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 25.5 Billion by 2032, exhibiting a growth rate (CAGR) of 8.5% during 2024-2032.

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What is Green Chemicals?

Green chemicals, also known as environmentally friendly chemicals, are substances designed to minimize their impact on the environment. These chemicals are formulated to reduce toxicity, waste, and energy consumption, both in their production and usage. Unlike traditional chemicals, which can pose hazards to ecosystems and human health, green chemicals aim to be sustainable and biodegradable.

They are used across various industries, from agriculture and manufacturing to pharmaceuticals and household products. By reducing harmful emissions and waste, green chemicals play a pivotal role in contributing to environmental conservation and sustainability, while also offering comparable performance to conventional chemicals.

What are the growth prospects and trends in the green chemicals industry?

The growing awareness and concern about environmental sustainability among consumers and businesses alike represents one of the key factors driving the growth of the market across the globe. The demand for eco-friendly, biodegradable products is on the rise, which is compelling industries to replace traditional chemicals with greener alternatives. The market is also driven by regulatory pressure. Governments around the world are imposing stricter environmental regulations aimed at reducing pollution and carbon footprints.

These laws often mandate the use of environmentally friendly substances, which is fueling the growth of the market. Innovations in green chemistry are leading to the development of chemicals that are not only less harmful to the environment but also cost-effective and efficient in terms of performance. This is making the transition to green chemicals more feasible for industries that were previously reliant on traditional, harmful chemicals. Companies are increasingly seeing the value in branding themselves as eco-friendly and sustainable. Utilizing green chemicals in their products allows them to appeal to a consumer base that prioritizes environmental responsibility, which is gaining a competitive edge, thus facilitating the market growth.

Who are the key players operating in the industry?

The report covers the major market players including: 

Arkema S.A
BASF SE
BiologiQ
Braskem S.A. (Odebrecht)
Cargil Incorporated.
Conagen Inc
Ecochem
GFBiochemicals Ltd.
Global Green Chemicals Public Company Limite (PTTGC Group)
Vertec BioSolvents Inc.

What is included in market segmentation?

The report has segmented the market into the following categories:

Type Insights: 

Bio-alcohols
Bio-organic Acids
Biopolymers
Others

Application Insights: 

Construction
Pharmaceuticals
Packaging
Food and Beverages
Paints and Coatings
Automotive
Textile
Others

Regional Insights:

North America 
Europe 
Asia Pacific 
Latin America
Middle East and Africa

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This release was published on openPR.