WASHINGTON, Nov. 01, 2022 (GLOBE NEWSWIRE) -- The global Green Chemicals Market is expected to gain significant growth in the forecast period of 2022 to 2028. Vantage Market Research analyses that the market is growing with a CAGR of 9.10% in the forecast period of 2022 to 2028 and is expected to reach USD 16684.27 Million by 2028.
Global Green Chemicals Market from Vantage Market Research, this research helps businesses thrive by offering in-depth market analyses and insights. To thrive in this swiftly changing market landscape, businesses must take up the world-class solution such as this Green Chemicals Market research report. This report helps you effortlessly figure out brand awareness and perception of your brand and product among potential customers of Green Chemicals industry. This market research report also covers strategic profiling of major players in the market, meticulously analysing their core competencies, and drawing a competitive landscape for the market. Top players and brands are analysed with respect to their actions such as developments, product launches, acquisitions, mergers, joint ventures and competitive research in the market.
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What is Green Chemicals? How Big is Green Chemicals Market Size?
Market Overview:
Green Chemicals Market are produced using plant or animal waste and are therefore environmentally friendly, non-toxic and abundant in nature. Due to growing concerns over the rapid depletion of oil and gas reserves, the adoption of Green Chemicals Market is expected to increase in the next coming years. Fluctuations in crude oil prices and increasing green chemistry applications in various industries are among the other factors expected to boost growth of the global Green Chemicals Market. Moreover, shifting consumer preference towards green and sustainable products, coupled with growing urbanization, and high disposable income are factors expected to create potential revenue opportunities for players operating in the global Green Chemicals Market. High investments by major players and new advancements for the development of various end-use products has created lucrative revenue opportunities for major manufacturers and suppliers of the Green Chemicals Market. Favorable government initiatives to promote the use of Green Chemicals Market owing to vehicle emissions and other environmental concerns is expected to support growth of the target market. Government initiatives such as "Made in India" and "Made in China" are encouraging many small players to enter the market, thereby driving the market demand for Green Chemicals Market and ultimately increasing competition, thereby boosting market growth.
List of Prominent Players in the Green Chemicals Market:
- Cargill Inc.
- BASF SE
- Bio-Kleen Products Inc.
- Balfour Beatty PLC
- DuPont Industrial
- Biosciences
- Dryvit Systems Inc.
- Anderson Corporation
- Palmer Industries Inc.
- Plycem USA Inc.
- Silver Line Building Products LLC
- Thermafiber Inc.
- Huber Engineered Woods LLC
- Bayer Material Science AG
- Kingspan Group
- USG Corporation
- Koninklijke DSM NV
- Calera Corporation
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Market Dynamics:
Drivers- Demand for Green Chemicals Market in End-use Industries
Growing demand for bioethanol as an alternative fuel in automotive industry owing to its properties such as reduce carbon dioxide emissions, cost-efficiency, etc. is a key factor expected to drive growth of the target market. Increasing demand for Green Chemicals Market in the production of intermediate chemical products is another factor expected to contribute significant revenue share in the global Green Chemicals Market. Additionally, the rising demand for Green Chemicals Market in packaging materials due to its properties such as easy disposal, low production cost, and others is a factor expected to augment growth of the global Green Chemicals Market.
Challenges:
The prime challenge is lack of awareness and commercialization regarding bio-based products in developing countries, predicted to reduce growth of the Green Chemicals Market. However, the high cost of Green Chemicals Market and availability of synthetic chemicals are factors expected to hamper the overall growth of the Green Chemicals Market over the coming years. Owing to the COVID-19 pandemic, the number of cases has been increasing which led to global or partial shutdown to maintain social distancing. According to a recent update, the industries are facing unprecedented economic losses due to disruptions in global supply chains for key players operating in the global Green Chemicals Market. Distributors, suppliers and retailers have inventory but can't sell, and manufacturers have to stop production to deal with the shutdown.
Key Findings:
- Bioalchohols segment is anticipated to hold a significant share for Green Chemicals Market. This is majorly owing to the usage of bioethanol in high-volume for spark-ignition engines of vehicles as an alternative fuel. Additionally, substantial demand for bioethanol increases for alcoholic beverages production, such as vodka, brandy, beer, gin, and whiskey.
- The Personal Care segment is anticipated to hold a significant share for Green Chemicals Market. This will majorly be owing to the rising concerns with respect to the usage of synthetic chemicals and their harmful effects on the skin. Thus, with the increasing bio-based personal hygiene and beauty care products adoption, demand for these green chemicals especially from the personal sector is likely to rise, particularly in the countries like the U.S., the U.K., Germany, China, and India.
- Europe is the largest regional segment. This can be owing to the increasing green chemicals adoption across various industries, including personal care, food & beverages, packaging, and automotive due to the strong environmental tensions in the region. Additionally, the chemicals sector is increasingly making more focus on green chemicals production to grow eco-friendly and sustainable solutions in the region.
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Regional Trends:
The North America Green Chemicals Market is expected to register major market share in terms of revenue and projected to grow at a high CAGR in the near future. Growing population, rapid urbanization, increasing industrialization, coupled with increasing R&D activities by prominent players are factors expected to proliferate growth of the Green Chemicals Market in the region. Besides, Europe had a substantial share in the market due to developed economy and growing adoption of the product. This is due to the adoption of new strategies by the major players in the Green Chemicals Market. Moreover, the presence of key market players and increasing collaboration among major players for market penetration in the region provides the opportunity for growth of the global Green Chemicals Market.
Recent Developments:
In June 2021, JSW Cement Limited has entered the construction chemicals sector with a new range of green products that consume less water during usage. It replaces the use of river sand in the concrete pouring process with screening residues, thereby protecting natural resources and helping to prevent landslides, floods and air pollution.
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on Green Chemicals Market Forecast Report (2022-2028).
The report on the Green Chemicals Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Some of The Key Questions from Our Customers Are:
- Which are the top companies in the market?
- How will the market change in the next years?
- What are the drivers and restraints of the market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the market throughout the forecast period?
- Which area offers the most significant benefit for the world market?
- What are the threats to business and the impact of the current scenario on growth and market perception?
- What are the likely advanced scenarios and maximum incentive to see movement by application, type, and region?
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 9,893.70 Million |
| Revenue Forecast by 2028 | USD 16684.27 Million |
| CAGR | 9.10% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Cargill Inc., BASF SE, Bio-Kleen Products Inc., Balfour Beatty PLC, DuPont Industrial, Biosciences, Dryvit Systems Inc., Anderson Corporation, Palmer Industries Inc., Plycem USA Inc., Silver Line Building Products LLC, Thermafiber Inc., Huber Engineered Woods LLC, Bayer Material Science AG, Kingspan Group, USG Corporation, Koninklijke DSM NV, Calera Corporation |
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- Top Companies in Green Chemicals Market: https://v-mr.biz/green-chemicals-market
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