Emphasis on Product (Bioalcohols, biopolymers, solvents, organic acids, and others); Application (food & beverages, personal care, packaging, automotive, agriculture, and others);and Region/Country
Global Green Chemical Market is expected to grow significantly at around 9.5% during the forecast period. Factors such as the replacement of hazardous chemicals and rising consumption of petrochemical products including their derivatives are acting as drivers for the growth of the chemical market. Furthermore, increasing demand for green chemicals from both individual and institutional buyers due to strict government regulations to lower the potential of global warming, ozone depletion, and smog formation is fueling the sales of green chemicals in the global market. Many key competitors in the green chemical industry are investing heavily to innovate new techniques to produce products from biochemicals that are less toxic in nature, easy to transport, and release less hazardous chemical wastes resulting in rising demand. Different countries have also started to shift towards environmentally friendly policies which are acting as a catalyst in the growth of Green Chemical Market. For instance: in 2020, the European Commission adopted the EU Chemicals Strategy for Sustainability. The Strategy is the first step towards a zero-pollution ambition for a toxic-free environment announced in the European Green Deal. The Strategy aims to significantly increase the protection of human health and the environment from harmful chemicals.
Arkema S.A., BASF SE, Evonik Industries AG, GF Biochemicals Ltd., Koninklijke DSM N.V., Mitsubishi Chemical Corporation, Toray Industries Inc., Cargill, Total Corbion PLA and Vertec BioSolvents Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Products, Bioalcohols segment captured the highest market share in the green chemical market”
Based on product, the green chemicals market is segmented into bioalcohols, biopolymers, solvents, organic acids, and others. The Bioalcohols category is expected to grow at a considerable growth rate owing to countries adopting a higher blend of bioethanol in gasoline. This increased blend would mitigate carbon emissions from vehicles and conserve fossil fuels. Moreover, due to rising environmental concerns and strict government regulations, the adoption of bio-based packaging materials such as plant and animal waste is likely to witness a rise in the future, which in turn, is expected to fuel the demand for green chemicals for their production. For instance, in India, in October 2020, the Cabinet Committee on Economic Affairs approved mandatory packaging of 100% food grains and 20% sugar in jute bags.
“Amongst Applications, the automotive segment caters to a significant market share in the green chemical market.”
Based on application, the green chemicals market is divided into food & beverages, personal care, packaging, automotive, agriculture, and others. The automotive sector captured a significant market share in the green chemical market. The transportation sector contributes to a significant amount of greenhouse gas emissions globally therefore, automotive flex-fuel engines which are compatible with higher blends of bioethanol in gasoline are being adopted. There is rising demand for flex fuel engines in the logistics industry which would lead to an increase in the transportation sector thereby increasing the demand for bioethanol from the automotive sector. Moreover, various textile companies have also started preparing textiles from chemical-free dyes which has resulted in driving its demand in the forecasted period as well. For instance: UK-based Faber Futures, Netherlands-based TextileLab and Kukka are using naturally pigmented bacteria to create chemical-free dyes, which can be applied to both conventional and bio-fabricated textiles.
“APAC constitutes a major market share for the green chemical industry”
Asia Pacific captured an extensive share of the green chemicals market and is expected to show an influential growth rate in the forecasted period as well. India and China are dominant player in the region and is driving the growth of the APAC region along with countries such as Japan. For instance, the Chinese government has introduced a range of policies and regulations aimed at promoting the development and use of green chemicals. The country’s 13th Five-Year Plan includes a target to increase the share of non-fossil fuel energy in primary energy consumption to 15% by 2020, which has led to an increased focus on the development of renewable energy sources and green chemicals.
Green Chemicals Market Report Coverage
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Green Chemicals Market Covid-19 Impact
6. Global Green Chemicals Market Revenue (usd Bn), 2020-2030f
7. Market Insights By Product
8. Market Insights By Application
9. Market Insights By Region
10. Green Chemicals Market Dynamics
11. Green Chemicals Market Opportunities
12. Green Chemicals Market Trends
13. Legal & Regulatory Framework
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Competitive Scenario
17. Company Profiled
18. Disclaimer
Research Methodology for the Green Chemical Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Green Chemical market were the three major steps undertaken to create and analyze the adoption of Green Chemicals in major regions globally. 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 global Green Chemical market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting 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 of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Green Chemical market 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 Chemical market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. The major segments which are included in the report are Product and Application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
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 the Green Chemical market. Further, we conducted factor analysis using dependent and independent variables such as various Product and Application of Green Chemical. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Green Chemical market sector across the globe.
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 Chemical market, and market shares of the segments. All the required percentage shares 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., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
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, Regional Head, Country Head, etc.) across major regions. 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
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Green Chemical market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of Product and Application in the global Green Chemical market.
The main objective of the Global Green Chemical Market Study
The current & future market trends of the global Green Chemical market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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