(MENAFN- IMARC Group)
IMARC Group, a leading market research company, has recently releases report titled“ Green Chemicals Market: Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032. ” offers a detailed analysis of the green chemicals market size , drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the green chemicals market?
The global green chemicals market size reached US$ 12.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 25.5 Billion by 2032 , exhibiting a growth rate (CAGR) of 8.5% during 2024-2032.
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What is Green Chemicals?
Green chemicals, also known as environmentally friendly chemicals, are substances designed to minimize their impact on the environment. These chemicals are formulated to reduce toxicity, waste, and energy consumption, both in their production and usage. Unlike traditional chemicals, which can pose hazards to ecosystems and human health, green chemicals aim to be sustainable and biodegradable.
They are used across various industries, from agriculture and manufacturing to pharmaceuticals and household products. By reducing harmful emissions and waste, green chemicals play a pivotal role in contributing to environmental conservation and sustainability, while also offering comparable performance to conventional chemicals.
What are the growth prospects and trends in the green chemicals industry?
The growing awareness and concern about environmental sustainability among consumers and businesses alike represents one of the key factors driving the growth of the market across the globe. The demand for eco-friendly, biodegradable products is on the rise, which is compelling industries to replace traditional chemicals with greener alternatives. The market is also driven by regulatory pressure. Governments around the world are imposing stricter environmental regulations aimed at reducing pollution and carbon footprints.
These laws often mandate the use of environmentally friendly substances, which is fueling the growth of the market. Innovations in green chemistry are leading to the development of chemicals that are not only less harmful to the environment but also cost-effective and efficient in terms of performance. This is making the transition to green chemicals more feasible for industries that were previously reliant on traditional, harmful chemicals. Companies are increasingly seeing the value in branding themselves as eco-friendly and sustainable. Utilizing green chemicals in their products allows them to appeal to a consumer base that prioritizes environmental responsibility, which is gaining a competitive edge, thus facilitating the market growth.
Who are the key players operating in the industry?
The report covers the major market players including:
Arkema S.A BASF SE BiologiQ Braskem S.A. (Odebrecht) Cargil Incorporated. Conagen Inc Ecochem GFBiochemicals Ltd. Global Green Chemicals Public Company Limite (PTTGC Group) Vertec BioSolvents Inc.
What is included in market segmentation?
The report has segmented the market into the following categories:
Type Insights:
Bio-alcohols Bio-organic Acids Bio-ketones Biopolymers Others
Application Insights:
Construction Pharmaceuticals Packaging Food and Beverages Paints and Coatings Automotive Textile Others
Regional Insights:
North America Europe Asia Pacific Latin America Middle East and Africa
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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