Green Chemicals Market: Current Analysis and Forecast (2021-2027)

Report Description

Global Green Chemicals Market is likely to showcase robust growth during the forecast period (2021-2027). Agriculture sector contributes a considerable share to gross domestic product (GDP) of a country and many sector relies on it. Ever growing agriculture sector uses fertilizers to boost the production of crops qualitatively and quantitatively. Since synthetic fertilizers are toxic in nature and leads to severe diseases when consumed to long time therefore, farmers are shifting to organic farming techniques which uses biofertilizers and biopesticides to farm crops. Furthermore, fertilizer manufacturers are increasingly focusing on to produce organic fertilizers owing to increasing demand from the sector. In addition to this, byproducts obtained from wheat, maize, corn, sugarcane, beet, etc. hold wide applications in food & beverages and automotive industries which have shown exponential increase over the decades. Bioethanol which is made from grains, grapes, molasse, sugarcane and other agricultural origins provides the base for many sprit drinks. In addition, bioethanol is used as natural product to extract and concentrate flavors and odors which are used in food & drink industry.

Besides, food & beverages bioethanol is widely used in transportation industry. Thus, rise in transportation industry would lead to high demand of automotive vehicles thereby propelling the green chemicals market. Alongside, increasing food & beverages industry which extensively uses green chemicals would further drive green chemicals market.

Some of the major players operating in the market include Arkema S.A., BASF SE, Evonik Industries AG, GF Biochemicals Ltd., Koninklijke DSM N.V., Mitsubishi Chemical Corporation, Toray Industries Inc., BioAmber Inc, Total Corbion PLA, and Vertec BioSolvents Inc. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.

Insights Presented in the Report

“Amongst product, bioalcohols category held lucrative market share.”

Based on product, the green chemicals market is segmented into bioalcohols, biopolymers, biosolvents, organic acids, and others. Bioalcohols category is expected to grow at a considerable growth rate. Stringent government regulations for reduction of carbon footprints leading to mandate use of ethanol in automobile industry would boost the production of bioethanol. Bioethanol, for commercial usage, is generally made from edible raw materials such as corn and sugar cane. Thus, rise in demand for bioethanol would lead to expansion of green chemicals market.

“Amongst application, automotive held lucrative market share in 2020.”

Based on application, the green chemicals market is divided into food & beverages, personal care, packaging, automotive, agriculture, and others. Among all, automotive sector holds a lucrative market share. Bioethanol which is made from grains, grapes, molasse, sugarcane and other agricultural origins provides the base for many spirit drinks. In addition, bioethanol is used as natural product to extract and concentrate flavors and odors which are used in food & drink industry. Besides in food & beverages, bioethanol is widely used in transportation industry. Thus, rise in transportation industry would lead to high demand of automotive vehicles

“Asia Pacific held considerable market share in the Global Green Chemicals Market.”

For a better understanding of the market adoption of green chemicals, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Currently, Asia Pacific held lucrative market share and is expected to grow throughout the forecast period. Increasing government initiatives and encouragement urging their regional manufacturers to use sustainable components in the production of their products represent key driving factors that can help boost the market growth over the forecast period. Rising adoption of green city and green-based construction of buildings for residential, industrial, and commercial across the region are expected to complement the market expansion during the mentioned period. China exceeded the US to become the largest logistics market in the world in 2013. Packaging plays an essential role in logistics, and its market value exceeded USD 155 Bn in 2020.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional & country-level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future of global green chemicals were the three major steps undertaken to create and analyze the adoption of green chemicals across various segments in North America, Europe, Asia Pacific, & Rest of the world. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the green chemicals sector. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the green chemicals through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the green chemicals market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are as product and application. Further regional & country-level analyses were conducted to evaluate the overall adoption of green chemicals in the global context.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of green chemicals. Further, we conducted factor analysis using dependent and independent variables like burgeoning global warming rates and global need for clean energy sources. Historical trends and their year-on-year impact on the market size and share in the recent past were analyzed. Demand and supply side scenario was also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global green chemicals market, and market shares of the segments. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of green chemicals across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the green chemicals market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

 Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global green chemicals market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of water depth, installation, and turbine capacity verticals.

The main objective of the Green Chemicals Market Study

The current & future market trends of green chemicals were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends determine the overall attractiveness of the market at a global & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of green chemicals in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of product and application
• Defined analysis of the regulatory framework for the global green chemicals industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the green chemicals for the major regions & countries
• Major regions studied in the report include North America, Europe, Asia Pacific, and Rest of World
• Company profiles of the green chemicals market players and the growth strategies adopted by them to sustain in the fast-growing market

Deep dive regional & country level analysis of the industry