Global Green Chemical Market Size, Share, Growth Analysis, By Product Type(Bio-alcohols, Biopolymers), By Feedstock Source(Agricultural Residues, Forestry Products), By Application(Biodegradable Plastics, Biofuels), By End-Use Industry(Automotive, Consumer Goods) - Industry Forecast 2024-2031

Report ID: SQMIG15B2112 | Region: Global | Published Date: February, 2024
Pages: 238 | Tables: 128 | Figures: 77

Global Green Chemical Market Regional Insights

In 2023, North America emerged as the largest market region, solidifying its dominance through a combination of stringent environmental regulations, an extensive network of green infrastructure, and a robust commitment to sustainability across key industries. Sectors such as automotive, packaging, and healthcare exhibited a consistent demand for green chemicals in the region, driven by both market preferences for eco-friendly products and companies' strategic goals for sustainability. Moreover, collaborative efforts between industry players, research institutions, and government bodies has fostered innovation and adoption of groundbreaking green chemical technologies, further propelling market expansion. With such momentum, North America is poised to maintain its market leadership through the forecast years of 2024-2031.

Meanwhile, Asia-Pacific has witnessed a remarkable surge in the development of the green chemical industry within the global market landscape. This growth is propelled by the region's rapid industrialization, a steadily increasing environmental consciousness, and strong governmental support for sustainable development initiatives. Countries such as China, India, and Japan have announced significant investments in renewable energy, green technology, and environmentally friendly projects, reflecting a growing demand for sustainable solutions. Additionally, shifting consumer expectations and evolving lifestyles are favoring the adoption of green products across sectors such as packaging, construction, and agriculture in the region. Furthermore, government participation in the region through incentivization measures and policies aimed at reducing carbon footprints and promoting renewable energy sources is accelerating market expansion.

Global Green Chemical Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Green Chemical Market was valued at USD 97.8 billion in 2019 and is poised to grow from USD 108.3 billion in 2023 to USD 244.16 billion by 2031, growing at a CAGR of 10.7% in the forecast period (2024-2031).

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. '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'

One significant obstacle hindering the growth of the green chemicals market is the scarcity of raw materials. The production of green products heavily relies on the availability of bio-resources such as vegetable oils, sugars, and animal fats. However, a significant hurdle arises from the diminishing agricultural output caused by the gradual depletion of arable land. Factors such as rapid industrialization, population growth, and urbanization compound the problem by contributing to the reduction of arable land area. This exacerbates the already challenging scenario, making it difficult to meet the demand for green chemicals and hindering market growth.

R&D efforts have significantly increased to expand the use of green chemicals in a variety of industries, including textiles. For instance, Dow, one of the largest chemical producers, is concentrating on growing its product line in the areas of advanced materials and agriculture and is also increasing its R&D spending on biomaterials. To maintain competitive advantages and increase market share, other manufacturers like DSM and Cargill have placed a strong emphasis on new product innovations and developments. Manufacturers are now able to produce more environmentally friendly goods for their customers thanks to these initiatives.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Global Green Chemical Market Size, Share, Growth Analysis, By Product Type(Bio-alcohols, Biopolymers), By Feedstock Source(Agricultural Residues, Forestry Products), By Application(Biodegradable Plastics, Biofuels), By End-Use Industry(Automotive, Consumer Goods) - Industry Forecast 2024-2031

Global Green Chemical Market Regional Insights

Global Green Chemical Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Green Chemical Market?

Who are the key vendors in the Global Green Chemical Market?

What is the key driver of Global Green Chemical Market?

What is the key market trend for Global Green Chemical Market?

Which region accounted for the largest share in Global Green Chemical Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300