Global Green Chemicals Market Will Grow at a CAGR of 10% During 2019-2023 | Technavio

Technavio has announced the release of their research report on the Global Green Chemicals Market for the forecast period 2019-2023. This green chemicals market analysis report segments the market by product (bioalcohols, biopolymers, bio-organic acids, and bio-ketones) and geography (North America, Europe, APAC, South America, and MEA).

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Global green chemicals market size will grow by almost USD 50 billion during 2019-2023, at a CAGR close to 10%. In the last few years, toxic chemicals have been facing bans due to the generation of hazardous chemicals. In such a scenario, green chemicals are playing a significant role, as they are designed to reduce or eliminate the use or generation of hazardous substances. Moreover, in the making of green chemicals, green chemistry applies across the life cycle of a product. Hence, it is known as sustainable chemistry. Therefore, several manufacturers are involved in the process of innovating chemicals to fulfill the needs of the client. This is accomplished using renewable energy as much as possible, to create a comprehensive impact on the environment.

High demand from emerging economies

The global green chemicals market is recording high growth in emerging economies such as India, China, Brazil, Russia, and Indonesia. Many manufacturers of green chemicals are shifting their manufacturing operations to these countries due to factors such as availability of land, economical labor, low transportation costs, and favorable regulations promoting the use of green chemicals. Also, these markets are characterized by increased spending on pharmaceuticals, automobiles, electronics and electricals, and consumer goods. Therefore, the global green chemicals market is expected to grow significantly in emerging economies during the forecast period.

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“More than 36% of the market share will come from the North American region. Several advances in technology in the green chemical industry, along with the significant investments by vendors will boost product sales of green chemicals in North America. Additionally, the use of green chemicals in industries such as automotive, chemicals, and construction is increasing significantly, which will contribute to the increase in demand for green chemicals during the forecast period”, says an analyst at Technavio.

There has been a significant increase in R&D activities to augment application areas of green chemicals in various industries such as textiles, electronics, food, and pharmaceuticals by many major vendors. For instance, one of the biggest chemical manufacturers, DowDupont, is focusing on expanding its product portfolio related to advanced materials and agriculture. Thus, the company is seen increasing its R&D spending on biomaterials, which is part of its new strategy to improve its competitive performance, cost, and environmental benefits. Therefore, such initiatives targeted at developing sustainable products for their consumers will drive market growth.

View snapshot of the report for a more detailed overview of the market and the segmentations covered in this report

This green chemical industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several green chemicals manufacturers including –

• BASF SE
• Cargill Inc.
• DowDuPont Inc.
• INEOS AG
• Koninklijke DSM NV

Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.

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