WASHINGTON, March 16, 2022 (GLOBE NEWSWIRE) -- According to a new market research report " Green Chemicals Market Size, Share & Trends Analysis Report by Product (Bioalcohols, Biopolymers, Biosolvents, Organic Acids), by Applications (Food & Beverages, Personal Care, Packaging, Automotive), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)", published by Vantage Market Research, the global post COVID-19 market size of the Green Chemicals Market is expected to grow from USD 9,893.70 Million in 2021 to USD 16684.27 Million by 2028 at a CAGR of 9.10% during the forecast period.
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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.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Green Chemicals market is predicted to grow at a CAGR of roughly 9.10% during the forecast period.
- The Green Chemicals market was estimated to be worth roughly USD 9,893.70 Million in 2021 and is expected to reach USD 16684.27 Million by 2028; based on primary research.
- On the basis of region, Europe is projected to dominate the worldwide Green Chemicals market.
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 have 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.
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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 Size, Share & Trends Analysis Report by Product (Bioalcohols, Biopolymers, Biosolvents, Organic Acids), by Applications (Food & Beverages, Personal Care, Packaging, Automotive), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/green-chemicals-market-market-964999
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
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Green Chemicals Market?
- How will the Green Chemicals Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Green Chemicals Market?
- What is the Green Chemicals market drivers and restrictions?
- What will be the CAGR and size of the Green Chemicals Market throughout the forecast period?
This market titled “Green Chemicals Market” will cover exclusive information in terms of Geographic Segmentation, Forecast, Regional Analysis, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size in 2021 | USD 9,893.70 Million |
| Projected Market Size in 2028 | USD 16684.27 Million |
| CAGR Growth Rate | CAGR of 9.10% From 2022 – 2028 |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Product • Bioalcohols • Biopolymers • Biosolvents • Organic Acids • Others (Including Biolubricants and Biosurfactants) • Applications • Food & Beverages • Personal Care • Packaging • Automotive • Agriculture • Others (Including Construction, Electrical & Electronics, Paints & Coatings, and Textiles) |
| Region & Counties Covered | • North America • U.S. • Canada • Mexico • Europe • U.K • France • Germany • 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 Middle East & Africa |
| Companies Covered | • 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 |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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