Product ID: SQMIG15B2112
Report ID:
SQMIG15B2112 |
Region:
Global |
Published Date: February, 2024
Pages:
238
|
Tables:
128 |
Figures:
77
Green Chemical Market Driver
Rising Eco-Anxiety - The Catalyst for Embracing Green Chemicals:
The escalating degradation of our environment stands as the primary catalyst propelling the global demand for eco-friendly chemicals. As enterprises awaken to the imperative of curbing pollution across all ecosystems and mitigating the greenhouse effect, the pursuit of sustainability becomes not just a trend but a necessity in the business world. Consequently, companies find themselves compelled by urgency to seek out sustainable alternatives for their chemical-based products. The imperative to minimize ecological footprints and embrace environmentally responsible practices drives this quest for greener solutions, marking a pivotal moment in the evolution of industry towards greater environmental stewardship.
Evolving Regulatory Landscape Empowering Eco-friendly Endeavours:
Around the world, regulatory bodies are rolling out policies aimed at nudging factories toward sustainable practices and minimizing their environmental footprint. Initiatives like carbon taxing, incentives for renewable energy adoption, and programs promoting green technology implementation are fostering a favorable operating environment for the green chemicals market, driving its growth. Moreover, subsidies provided to companies for research and development in renewable energy and other eco-friendly technologies play a pivotal role in attracting investment. This investment, in turn, further facilitates the adoption of sustainable alternatives, propelling the market forward into a greener future.
Green Chemical Market Restraint
Resource Crunch Hampering Market Growth:
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REQUEST FREE CUSTOMIZATIONGlobal 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).
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Product ID: SQMIG15B2112