Press release
Green Chemicals Market Expansion Outlook: $198.6 Billion in 2029
Green Chemicals
What Is the Projected CAGR for the Green Chemicals Market from 2024 to 2025?
The market for green chemicals has seen robust growth over the past few years. Its size is predicted to expand from $120.43 billion in 2024, to $132.11 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 9.7%. Factors contributing to this growth during the historic period include regulations promoting sustainability, increasing consumer preference for environmentally friendly products, heightened consciousness of environmental impacts, implementation of renewable feedstocks, and the proliferation of bio-based polymers and plastics.
What are the Expected Market Size and CAGR for Green Chemicals by 2029?
The market size for green chemicals is projected to experience a swift expansion in the coming years. By 2029, it is estimated to reach $198.6 billion, with a compound annual growth rate (CAGR) of 10.7%. The predicted growth within this period can be linked to the increasing demand for more health-friendly and non-hazardous chemicals, the application of circular economy paradigms, the emergence of eco-friendly packaging alternatives, the proliferation of green solvents and surfactants, an emphasis on carbon-neutral chemical production, focus on openness and green labeling, the growth of bio-based adhesives and sealants, the incorporation of plant-derived chemicals in the pharmaceutical industry, and the expansion of education and training in green chemistry. Major trends expected during this forecast period comprise the integration of machine learning into green chemistry, advancements in green chemistry technologies, technological breakthroughs in biotechnology, the creation of biodegradable and compostable plastics, and the application of artificial intelligence in green chemistry.
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Which Factors Are Driving the Global Green Chemicals Market Expansion?
The green chemicals market is set to expand, driven by a surge in demand for bioethanol. Made from agricultural commodities like sugar cane or corn, bioethanol is growing in popularity in the green chemical industry due to its eco-friendly attributes. It serves as a fuel that burns cleanly and generates less greenhouse gas emissions compared to fossil fuels. For instance, The German Bioethanol Industry Association, a Germany-based group speaking for the biofuel sector's enterprises and organizations, reported in March 2023 that Germany's bioethanol production rose by 2% from 701,000 tons in 2021 to 715,000 tons in 2022. Thus, this increasing demand for bioethanol fuels the expansion of the green chemicals market.
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Which Segment Currently Holds the Largest Share of the Green Chemicals Market?
The green chemicals market covered in this report is segmented -
1) By Type: Bio-Alcohols, Bio-Organic Acids, ket*ones, Biopolymers, Other Types
2) By Technology: Bioprocessing, Fermentation, Enzymatic Processes, Metabolic Engineering, Other Technologies
3) By Raw Materials: Agricultural Waste, Biomass, Microorganisms, Sugar And Starch Crops, Other Raw Materials
4) By Applications: Construction, Healthcare, Pharmaceuticals And Personal Care Products, Packaging, Food And Beverages, Paints And Coatings, Automotive, Agriculture, Other Applications
Subsegments:
1) By Bio-Alcohols: Ethanol, Butanol, Propanol
2) By Bio-Organic Acids: Lactic Acid, Acetic Acid, Citric Acid
3) By ket*ones: Acetone, 2-Pentanone
4) By Biopolymers: Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA)
5) By Other Types: Surfactants, Solvents, Lubricants
Which Major Trends Are Shaping the Future of the Green Chemicals Industry?
Technological innovations are becoming an increasingly predominant trend within the green chemicals market. Numerous leading companies within this market are implementing novel technologies, such as the distinct technology devised by Praedicat, to maintain their competitive edge. For instance, in May of 2022, VelocityEHS, an American software company, introduced the Green Chemistry Offering. This unique approach continuously re-evaluates and amends chemical risk profiles based on the potential damage they can cause, utilizing Praedicat's distinctive technology that actively scans thousands of scientific publications in real-time. Through this, customers are provided with fast and uncomplicated access to prospective chemical risk profiles, thereby enabling them to opt for safer alternatives before their rivals.
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Which Key Players Dominate the Green Chemicals Industry Globally?
Major companies operating in the green chemicals market include Cargill Inc., BASF SE, Mitsubishi Chemical Holdings Corporation, BioAmber Inc., DuPont de Nemours Inc., Arkema Group, Koninklijke DSM N.V., Evonik Industries AG, Total Corbion PLA, Elevance Renewable Sciences Inc., Amyris Inc., Genomatica Inc., LanzaTech Inc., Novomer Inc., Verdezyne Inc., Myriant Corporation, Sila Nanotechnologies Inc., Bayer Material Science AG, Ambient Photonics Inc., NatureWorks LLC, Gevo Inc., Checkerspot
What Are the Fastest-Growing Regions in the Green Chemicals Market?
Europe was the largest region in the green chemicals market in 2024. The regions covered in the green chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Saumya Sahay,
Americas: +1 310-496-7795,
Asia: +44 7882 955267 & +91 8897263534,
Europe: +44 7882 955267,
Email: saumyas@tbrc.info
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