A new report from Industry Experts, Inc. on “Green Chemicals Market” is published. According to this new global market research report, worldwide demand for Green Chemicals is projected to reach US$229.9 billion by 2030 from an estimated US$122.9 billion in 2024 at a CAGR of 11% over the 2024-2030 analysis period.
The greater demand for Green Chemicals as feasible substitutes to traditional chemicals encompasses several factors, the most crucial of which comprise government regulations aimed at environmental protection, paucity of non-renewable chemical resources, consumer demand for environmentally responsible processes & products, technological advancements through R&D efforts and efficient use of resources in producing these chemicals that reduce cost & waste generation.
Bio-Alcohols constitute the leading type of Green Chemical used across the world, a primary factor for which is the growing use of Bioethanol, a type of Bio-Alcohol, as a fuel substitute in automobiles because of its low cost and eco-friendliness. Sales of automobiles are growing by the minute, even while fossil fuels used to power them are depleting by the second. Consequently, the need for alternative fuels to run not only the engines of automobiles but also engines of the economy has become a major factor.
Green chemicals global market analyzed in this report across all major regions including North America (The United States, Canada and Mexico), Europe (France, Germany, Italy, Russia, Spain, The United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), South America (Argentina, Brazil and Rest of South America) and Middle East & Africa.
The report explores the green chemicals market with respect to Type – Bio-Alcohols (Include Bioethanol, Biobutanol & Biomethanol, among others), Bio-Ketones, Bio-Organic Acids (Include Bio-Acetic Acid, Bio-Acrylic Acid, Bio-Adipic Acid, Bio-Citric Acid, Bio-Lactic Acid & Bio-Succinic Acid, among others) and Biopolymers (Include Bio-Polyethylene & Polylactic Acid, among others); Source – Algae-Based Sources, Biowaste-Based Sources and Plant-Based Sources; and Application – Agriculture, Automotive, Construction, Food & Beverages, Industrial & Chemical, Packaging, Paints & Coatings, Personal Care, Pharmaceuticals and Textiles.
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