USD 9.89 billion
Global Green Chemical Market Size, Share, Growth Analysis, By Type(Bio-alcohols, Bio-polymers), By Application(Industrial & Chemical, Food & Beverages) - Industry Forecast 2023-2030
Report ID: SQSG15B2012 | Region: Global | Published Date: October, 2022 | Pages: 238 | Tables: 69 | Figures: 75
Global Green Chemical Market Insights
Green Chemical Market size was valued at USD 9.89 billion in 2021 and is poised to grow from USD 10.76 billion in 2022 to USD 21.13 billion by 2030, growing at a CAGR of 8.8% in the forecast period (2023-2030).
Green chemicals, also referred to as bio-based chemicals, are substances that are environmentally friendly and renewable and are made primarily from bio-based raw materials that are related to plants, vegetables, and animals. Vegetable oils, animal fats, sugar and starch, bioethanol, corn, sugarcane, wheat, cassava, and other plants are some of the major sources of these bio-chemicals. Chemicals made from biomaterials, as opposed to those made from petroleum, are less harmful to the environment and intended to preserve ecological balance by having less of an impact on recycling, disposal, transportation, installation, processing, and fabrication.
Green chemical production has been able to lower the production of hazardous substances through its use in a variety of industries. Key players are now focusing to use bio-based components in the production of their products because the global market is moving largely away from traditional sources of chemicals production and toward solutions based on renewable resources. As a result of the current market trend, these chemicals are widely used in numerous applications across industries including construction, automotive, packaging, agriculture, and others.
US Green Chemical Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2023-2030
Global Market Size
Largest Segment
Bio-Alcohols
Fastest Growth
Bio-Organic Acids
Growth Rate
8.8% CAGR
Global Green Chemicals Market, 2022-2028 ($ Bn)
Country Share for Europe Region- 2021 (%)
Global Green Chemicals Market Size By Product Type, 2022-2028 ($ Bn)
Global Green Chemicals Market By Product Type, 2022-2028 (%)
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Global Green Chemical Market Segmental Analysis
Global Green Chemical Market is segmented on the basis of type, application, and region. According to product, the market is segmented into bio-alcohols, bio-polymers, bio-organic acids, bio-ketones and others. Based on application, the market is segmented into industrial & chemical, food & beverages, pharmaceuticals, packaging, construction, automotive and other industries. Based on region the market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.
Green Chemical Market Analysis by Type
The global market was dominated by the bio alcohol segment in 2022. The substantial share of the market is primarily attributed to the wide availability of raw materials, rapid urbanisation, rise in crude oil prices, strict emission regulations imposed by governments of various countries, and rising energy consumption.
The bio-alcohols segment is primarily divided into bio-ethanol, bio-butanol, bio-methanol, and other bio-alcohols. The bio-alcohols market is anticipated to be dominated by the bio-ethanol segment. The significant market share is primarily attributable to manufacturers' preference for producing bioethanol due to its affordability and wide availability of raw materials as well as to growing environmental concerns.
Biopolymer segment is anticipated to grow at a substantially fast rate during the forecast period. This can be attributed to consumers' preference for bio-based products over synthetic products, growing bio-polymer R&D, the packaging industry's adoption of bioplastics, and the food and beverage industry's increased use of flexible packaging. Additionally, laws and regulations for the suse of bioplastics present lucrative growth prospects for companies competing in the bio-polymers market.
Green Chemical Market Analysis by Application
The industrial and chemical segment accounted for the largest share of the global green chemical market in 2022. The significant market share of this sector is mainly attributed to the global increase in industrialization and urbanisation, rising energy demand, the increased supply chain chemical transparency, and the restrictions on use and production of hazardous substances.
The packaging segment is expected to witness a high growth rate during the forecast period. This can be attributed to the rising demand for biodegradable packaging due to its low environmental impact, the growing emphasis on recycling and sustainability, the government's emphasis on effective packaging management, the growing consumer consciousness, and the growing number of single-use plastic bags.
Global Green Chemicals Market By Product Type, 2021 (%), 2021 (%)
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Global Green Chemical Market Regional Insights
Europe accounted for the highest market share in the global market in 2022 followed by North America. The significant market share of the region is primarily attributable to the rising demand for eco-friendly goods, presence of well-known companies in the region, and the expanding use of green chemicals in a variety of sectors, including food and beverage, personal care, automotive, and packaging. In order to create sustainable and eco-friendly solutions, the region's chemicals industry is also placing more emphasis on the production of green chemicals.
Asia Pacific is estimated to register a high growth rate during the forecast period. The increasing consumer and industrial interest in using clean energy resources to protect the environment, government actions to outlaw conventional non-degradable plastics, and government investments and initiatives to promote green chemicals are the main factors driving the growth of this region.
Global Green Chemicals Market By Geography, 2022-2028, 2023-2030
- Largest
- Fastest
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Global Green Chemical Market Dynamics
Green Chemical Market Driver
Growing Environmental Concerns to Boost Adoption of Green Chemicals
- Scarcity is one of the primary factors driving the growth of the non-renewable resource market for green chemicals. In their most basic form, fossil fuels are valuable sources of energy and feedstock. Nonetheless, the depletion of fossil feedstock reserves, including those for natural gas, coal, and crude oil has necessitated the search for alternative sources of energy and feedstocks for the chemical industry due to their high prices.
- In addition, rising energy costs and a growing understanding of the dangers associated with using conventional energy sources have prompted governments to invest in alternatives like green chemicals. The market for green chemicals will grow as a result of these factors over the forecast period.
- All fossil fuels release carbon dioxide, greenhouse gases, and other dangerous air pollutants when they are burned. Global warming is caused by greenhouse gases, which traps the heat in atmosphere. The world's future energy needs can be met by increasing the availability of renewable energy sources, which can help replace fossil fuels. In order to address environmental issues, it is now essential to develop and use renewable energy sources, such as bioenergy, which is driving the market expansion.
Green Chemical Market Restraint
Lack of Availability of Raw Materials and Decline in Agricultural Production
- One of the things impeding the growth of the market for green chemicals is a lack of raw materials. The ability to produce green products is largely dependent on the availability of animal and agricultural products like vegetable oils, sugars, and animal fats.
- A significant barrier to the production of green chemicals is the declining agricultural production brought on by the decline in arable land over time. In addition, increased industrialization, population growth, and urbanisation are to blame for the shrinking arable land area. During the anticipated period, these factors are probably going to slow market growth.
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Global Green Chemical Market Competitive Landscape
Global Green Chemical Market is fragmented due to the presence of several players who adopt strategies, such as mergers and acquisitions to increase their market dominance and consumer base. Major players include Arkema Group, BASF SE, Evonik Industries AG, GFBiochemicals Ltd., Koninklijke DSM N.V., among others. Key players are working on innovation and new product development to capture consumer interest and create a brand image in the minds of the consumers.
Green Chemical Market Top Player's Company Profiles
- BASF SE
- Dow Chemical Company
- E.I. Du Pont De Nemours and Company
- Archer Daniels Midland Company
- BioAmber Inc.
- Cargill, Incorporated
- INEOS Group AG
- Braskem SA
- Mitsubishi Chemical Corporation
- Royal DSM N.V.
- The Lubrizol Corporation
- Solvay SA
- Corbion NV
- NatureWorks LLC
- Genomatica Inc.
- Amyris, Inc.
- Novozymes A/S
- Croda International PLC
- Huntsman Corporation
- Stepan Company
Green Chemical Market Recent Developments
- In September 2022, BASF and RiKarbon Inc., a technology start-up based in the US have announced a partnership to develop bio-based emollients. By upcycling bio-waste into bio-based, biodegradable emollients for the global personal care market, RiKarbon's patented technology aids the industry's pursuit of cutting-edge sustainable solutions. In order to fully internalise the RiKarbon technology, BASF intends to introduce the first products in 2024.
- In May 2022, Verdant Innovations, a division of Cellulose Solutions, launched its first line of specialty green sustainable chemicals, initially targeting the hemp, pulp, textile, and nonwovens sectors. As it develops new chemical solutions to satisfy the demands of all clients involved in the production and delivery of consumer goods, the company will distribute all environmentally friendly options.
Global Green Chemical Key Market Trends
- Growing Research and Development to Surge Adoption of Green Chemicals: R&D efforts have significantly increased to expand the use of green chemicals in a variety of industries, including textiles.
- High-end Adoption: The market for green chemicals has seen significant growth recently as a result of the rising adoption of packaging materials made from renewable sources, such as plant and animal waste. This can be attributed to the advantages that bio-based packaging has for the environment, such as its non-toxicity, need for fewer raw materials during production, low cost of production, and ease of disposal.
- Use of bio-based packaging: The use of bio-based packaging materials is anticipated to rise in the coming years as environmental concerns grow, which is anticipated to increase the demand for green chemicals needed to produce them.
Global Green Chemical Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to the global green chemical market report analysis, emergence of green cities and the building of residential, commercial, and industrial buildings using green construction techniques are anticipated to complement the market growth. Furthermore, Government programmes and incentives are enticing local manufacturers to produce their goods with sustainable materials which will positively impact the global green chemical market and boost the market expansion. Additionally, bioethanol is a clean-burning fuel that is regarded as environmentally safe due to its significantly lower greenhouse gas emissions than fossil fuels. Also, bioethanol is affordable and sustainable. Hence increasing adoption of bioethanol as a fossil fuel substitute will further market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 9.89 billion |
| Market size value in 2030 | USD 10.76 billion |
| Growth Rate | 8.8% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Green Chemical Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Green Chemical Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Green Chemical Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Green Chemical Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Green Chemical Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Green Chemical Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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