Global Green Chemical Market Analysis, By Product Type, Feedstock Source, Application, and End-Use Industry - Global Forecast 2031
The Global Green Chemical Market is projected to witness notable growth owing to the rising use of bioethanol as a fuel source for aviation biofuel production, rising demand for bioethanol in various sectors such as pharmaceutical, cosmetic, and food and beverage, among others. Green chemical production can reduce air pollution and aid clean water management. In this regard, stringent rules of more than one government aimed closer to curbing the emission of hazardous gases to obtain carbon neutrality. Growing studies and development activities by using main chemical producers to create progressive sustainable manufacturing methods for the development of reasonably priced green chemical substances. The market value stood at USD 97.83 Billion in 2022 and is expected to grow from USD 108.3 Billion in 2023 to reach USD 244.16 Billion by the end of 2031.
Biopolymer Sub-segment to Hold Growing Position in Type Segment
The biopolymer segment is expected to grow much faster during the forecast period. This can be attributed to consumer preference for bioplastics over raw materials, increasing biopolymer R&D, adoption of bioplastics by the packaging industry. Flexible packaging of food and beverages, widespread use by industry with various laws and regulations governing the use of bioplastics creates lucrative growth prospects for companies competing in the global green chemical market.
View more info and detailed Table of Contents here:
https://www.skyquestt.com/report/green-chemical-market
Asia-Pacific is Expected to Grow the Market with Major Revenue Generation from China
Asia-Pacific is expected to witness healthy growth during the forecast period. Rapid urbanization and industrialization in emerging economies such as India and China are increasing the demand for refined pharmaceuticals including green pharmaceuticals. In addition, efforts to improve the sustainability of various sectors, including pharma, food and beverages, are further increasing the demand for green chemicals as they are environmentally friendly and less corrosive than conventional chemicals.
The Global Green Chemical Market is semi-consolidated, occupied by major manufacturers such as Arkema S.A, BASF SE, BiologiQ, Braskem S.A. (Odebrecht), Cargil Incorporated., Conagen Inc, Ecochem, GFBiochemicals Ltd., Global Green Chemicals Public Company Limite (PTTGC Group), Vertec BioSolvents Inc. catering to market needs.
Growing Concerns Over Depletion of Fossil Fuels
Green chemicals are produced by plant or animal waste, that is why they are surroundings-pleasant and non-toxic in nature, leading to the boom of the inexperienced chemicals marketplace. In addition, they do not pose any hazard to the environment, which includes the release of dangerous particulate matter or sulphur dioxide, like fossil fuels. These raw substances for bio-based chemical substances are also ample in nature, unlike fossil fuels, which have restrained availability. Therefore, with rising depletion due to the rapid depletion of oil and fuel reserves, the adoption of green chemical substances is predicted to grow soon.
To know more about the Global Green Chemical Market, refer to Global Green Chemical Market Analysis by Size, Share & Growth | Forecast 2023-2030 (skyquestt.com
Related Reports:
Global Syngas & Derivatives Market
Global Ethylene Carbonate Market
Contact:
Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
USA (+1) 351-333-4748
