Green Chemicals Market Market to Reach Valuation of 16684.27 USD Million by 2028; Increasing Adoption of Packaging Which is Bio-based is Driving the Market”

Vantage Market Research

Mar 08, 2022

In terms of revenue, the Global Green Chemicals Market is expected to reach 16684.27 USD Million by 2028, growing at a CAGR of 10.2% from 2022 to 2028. The key factors which are responsible for the growth of the Green Chemicals Market include rising adoption of packaging which is Bio-based and rising tensions with respect to fossil fuel depletion.

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.

Some of key players in Green Chemicals Market includes, Cargill Inc, BASF, DuPont, Vertec BioSolvents Inc, Arkema, Mitsubishi Corporation, Evonik, GFBiochemicals, Total Corbion PLA, Plantic Technologies Limited..

In recent years, increasing adoption with respect to packaging materials that are made of renewable sources, like, animal and plant waste, has led to substantial growth in the Green Chemicals Market. This is owing to the environmental advantages of bio-based packaging, which is inclusive of its non-toxic character, less production requirement for raw material, convenient disposal, and low production cost. With the rise in environmental tensions, bio-based materials adoption for packaging is likely to witness an increase in the future, these factors are likely to drive the green chemicals demand for production.

Green chemicals are composed of animal and plant waste, which is why these chemicals are non-toxic and environment-friendly in nature, and that is leading to the development of the Green Chemicals Market. Additionally, they don’t pose danger to the environment, like, the release of sulfur dioxide or harmful particulate matter, unlike fossil fuels.

Green Chemicals Market Size, Share & Trends Analysis Report by Product (Bio-Alcohols, Bio-Polymers, Bio-Solvents, Organic Acids, Other Products) by Application (Food & Beverages, Personal Care, Packaging, Automotive, Agriculture, Other Applications) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2017 - 2022) & Forecast (2023 - 2030)