Press release
Green Chemicals Market Poised for Strong Growth Driven by Rising Demand for Bio-Based and Sustainable Products
Green Chemicals Market
The Global Green Chemicals Market is estimated to reach over 359.8 billion by the year 2034 exhibiting a CAGR of 10.8% during the forecast period.
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Bio-based chemicals, commonly known as green chemicals, are derived from renewable resources and are increasingly gaining traction amid the global transition toward sustainable urban development, including green buildings across residential, commercial, and industrial sectors. In accordance with green chemistry principles, the modification of biopolymers facilitates the production of a diverse range of products employed in personal and household care, industrial cleaning, water treatment, and food additive applications. These solutions contribute to reducing construction waste, improving energy and water efficiency in buildings, and promoting the utilization of environmentally sustainable materials.
The adoption of bio-based chemicals is also expanding within the cleaning industry, driven by rising demand for natural and eco-friendly solutions across commercial, institutional, and industrial facilities. This trend aligns with the broader societal emphasis on minimizing environmental impact. Advancements in chemical processing technologies have enhanced the commercial feasibility of green chemicals, supporting significant market growth. As manufacturers and consumers increasingly prioritize sustainable and environmentally responsible alternatives, demand for bio-based chemical solutions is expected to continue rising.
List of Prominent Players in the Green Chemicals Market:
• Aemetis, Inc. (U.S.)
• Albemarle Corporation (U.S.)
• Anderson Corporation
• Balfour Beatty PLC
• BASF SE
• Bayer Material Science AG
• Bio-Kleen Products, Inc.
• Biosciences
• Braskem SA (Brazil)
• Calera Corporation
• Cargill, Incorporated (U.S.)
• Dryvit Systems, Inc.
• DSM NV
• DuPont de Nemours, Inc. (U.S.)
• Evonik Industries AG (Germany)
• Huber Engineered Woods LLC
• Kingspan Group
• Koninklijke DSM N.V. (Netherlands)
• Mitsubishi Chemical Holdings Corporation (Japan)
• Palmer Industries, Inc.
• Plycem USA, Inc.
• SECOS Group Ltd (Australia)
• Silver Line Building Products LLC
• Thermafiber, Inc.
• USG Corporation
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Market Dynamics
Drivers:
The green chemicals market is poised for growth, driven by the increasing implementation of government initiatives and incentive programs designed to encourage manufacturers to adopt sustainable materials. Public-private collaborations on a global scale are facilitating the translation of scientific innovation into practical applications of green chemistry, particularly in developing and emerging economies.
For instance, the United Nations Industrial Development Organization (UNIDO) is advancing strategic green chemistry programs that address challenges posed by hazardous chemicals through integrated approaches emphasizing prevention, enhanced waste management, and sustainable product design.
Challenges:
Despite its growth potential, the green chemicals market faces notable obstacles. Restricted access to advanced technologies, often protected by intellectual property rights, limits widespread adoption of innovative and environmentally friendly production methods. Consequently, knowledge transfer and technology dissemination remain constrained. Furthermore, insufficient awareness regarding the benefits and availability of green chemistry solutions continues to impede broader market penetration.
Regional Trends:
Europe is expected to hold a significant share of the green chemicals market and register a strong compound annual growth rate (CAGR) over the forecast period. Market expansion is supported by rising consumer preference for sustainable products, the presence of key industry players, and the integration of green chemicals across diverse sectors, including food and beverages, personal care, automotive, and packaging.
Additionally, the European chemical industry is increasingly prioritizing environmentally responsible and sustainable production practices, reflecting the region's broader commitment to regulatory compliance and ecological stewardship.
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Recent Developments:
• In July 2020, The U.S. industrial gas firm Air Products & Chemicals unveiled plans on Tuesday to create the world's largest green hydrogen facility in Saudi Arabia, fueled by four gigatonnes of wind and solar power. Air Products, Saudi Arabia's ACWA Power, and Neom, a new mega-city planned near Saudi Arabia's borders with Egypt and Jordan, will jointly own the $5 billion project.
Segmentation of Green Chemicals Market-
By Product-
• Bioalcohols
o Bio-ethanol
o Bio-butanol
o Bio-methanol
o Other Bio-alcohols
• Bio-Organic Acids
o Bio-lactic Acid
o Bio-acetic Acid
o Bio-citric Acid
o Bio-adipic Acid
o Bio-acrylic Acid
o Bio-succinic Acid
o Other Bio-organic Acids
• Bio-Polymers
o Polylactic Acid (PLA)
o Bio-polyethylene
o Other Bio-polymers
• Other Green Chemicals
By Application-
• Industrial & Chemicals
• Pharmaceuticals
• Packaging
• Food & Beverages
• Construction
• Automotive
• Other Applications
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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