Carcinogenic Chemical Alternatives Market Growth and Forecast 2016-2026

Cancer stands among the leading causes of ill health and mortality worldwide. According to ‘World Cancer Report, 2014’, published by the International Agency for Research on Cancer, nearly 8.2 million cancer related deaths occurred in 2012 and the number of new cases is expected to grow significantly over the next two decades. Many chemicals are found to have carcinogenic effect on humans. Governments from across the world have directed to prohibit use of such chemicals and encourage using other non-toxic and alternative chemicals in the need of environmental and human safety. Organizations such as International Labor Organization (ILO), United Nations Environment Program (UNEP) and World Health Organization (WHO) are making collaborative efforts to promote the use of substitute to carcinogenic chemicals. In light of these developments, the market for carcinogenic chemical alternatives is expected to gain high traction over the forecast period of 2016-2026.

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Carcinogenic Chemical Alternatives Market: Drivers and Restraints

Various chemicals with carcinogenic effects are used as a vital ingredient in many industries such as construction, pharmaceuticals, cosmetics, kitchenware, batteries, cosmetics, etc., getting millions of workers exposed to these chemicals and putting their lives at risk. Development and use of carcinogenic chemical alternatives is expected to be in the public interest, meeting monetary and social goals of the community in a cost effective manner with high grade of safety. Many countries, including U.S., Japan, European Union Nations (EU), Australia, South Korea and New Zealand are working towards banning the use of carcinogenic chemicals. With regulations coming strictly on-ground, industry players are working collaboratively to develop substitute of such chemicals so as not to hinder the usual growth of industries which use these chemicals during their manufacturing process.

Legal restrictions over these hazardous chemicals have proven to be the strongest drivers for the carcinogenic chemical alternatives market. However, lack of awareness, delay in proper law enforcement and techno-commercial feasibility are among the major challenges impeding growth of this market.

Carcinogenic Chemical Alternatives Market: Region wise outlook

Based on geography, the carcinogenic chemical alternatives market is segmented into seven key regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle-East and Africa (MEA). Among these, Asia-Pacific is expected to emerge as a high demand–high growth market for carcinogenic chemical alternatives over the forecast period. However, owing to strict government regulations, demand from Europe and North America is expected to remain high throughout the forecast period.

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Carcinogenic Chemical Alternatives Market: Key Players

Some of the key players reported in this study of the carcinogenic chemical alternatives market include Weihai Xiangyu Technology Co. Ltd., Shanghai Di Lang International Trade Co., Ltd., Robinson Manufacturing Company Co. Inc., American Excelsior, Inc., JELU-WERK J. Ehrler GmbH and Co. KG, Rempac Foam, LLC, ZOLTEK, Eagle Picher Technologies, LLC, HBL Power systems Limited, The Dow Chemical Company, Total SA, BASF SE, ExxonMobil Chemical Company, Abu Dhabi Polymers Ltd., Reliance Industries Ltd. and Wolseley Industrial Group.

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This release was published on openPR.