Green Chemical Market (2019-2025)- Scarcity of non-renewable resources is driving the green chemical market

Meticulous Research® – leading global market research company published a research report titled Green Chemical Market by Type (Bioethanol, Sugar and Starch, Animal Fats, Vegetable Oils), Application (Healthcare, Food Processing, Construction, Automobiles), and Region – Global Forecast to 2025’’.

A nonrenewable resource is a resource of economic value that cannot be readily replaced by natural means on a level equal to its consumption. Most fossil fuels, such as oil, natural gas and coal are considered nonrenewable resources in that their use is not sustainable because their formation takes billions of years. These resources are used and consumed faster than nature produces them. Also, there are many countries, which have recorded significant reduction of these sources and are currently suffering from the side effects of drilling these energy reserves from deep underground. However, the green chemical has improved health and safety of both humans and the surrounding environment. Green chemicals replace toxic chemicals that may have been used in the past. In addition, green chemicals are biodegrable and are provided in recyclable containers. Many come in a highly concentrated form to reduce packaging and the adverse environmental effects of transporting the product from its place of manufacture. Therefore, scarcity of environment is expected to propel the growth of green chemical significantly in the next few years.

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The green chemical market study presents historical market data in terms of value (2017 and 2018), estimated current data (2019), and forecasts for 2024 – by type and application. The study also evaluates industry competitors and analyzes the market at regional and country level.

Bioethanol segment Dominated the Global Green Chemical Market, by Type

Bioethanol segment accounted for the largest market share of the global green chemical market in 2018. The large share of this segment is attributed to bioethanol’s increasing use in alcoholic beverages, pharmaceuticals, and cosmetics. Bioethanol is majorly used as a fuel substitute for petroleum fuel; bioethanol fuel is eco-friendly. Bioethanol has significantly lower emissions than coal and gasoline which harm the environment.

Asia-Pacific: The Fastest Growing Regional Market

North America commanded the largest share of the global green chemical market in 2018, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. However, Asia-Pacific is the fastest growing regional market due to the rising population, high disposable income, rising demand for alcoholic beverages from countries such as China and India, and abundant availability of feedstock such as palm oil, waste oil, and animal fat.

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Key Players in the Green Chemical Market

The report includes an extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years (2016-2019). For instance, in March, 2019, BASF SE is enhanced its regional innovation capabilities with new facilities at the innovation campus Shanghai, to further strengthen collaboration with the automotive industry and to offer new process catalysts to the chemical industry.

The major players operating in the green chemical market are BioAmber Inc., Braskem SA, Cargill Inc., DSM NV, DuPont Industrial Biosciences, INEOS Group Ltd., Myriant Technologies LLC, Novozymes A/S, Aemetis, Agrisoma, Albemarle, Algae.Tec, BASF SE, BioArchitecture Lab, BioProcess Algae, Cellana, Ceres, Chemrec, Dyadic, Ecosynthetix, Global Bioenergies, and Glycos Biotechnologies.

Key questions answered in Green Chemical Market report: 

  • Which green chemical products are expected to experience the fastest growth?
  • In which industry green chemicals are highly consumed?
  • What is the most preferred application of green chemical in developing regions?
  • Which geographic region is expected to experience the fastest growth rate?
  • What part does the established companies play in developing green chemical market in the new regions?
  • What are the geographical trends and high growth regions/ countries?
  • What companies have recently merged/acquired and how will these unions affect the competitive landscape of the green chemical market?
  • What companies have created partnerships and how will these partnerships promote a competitive benefit?
  • Who are the key players in the global market and what share of the market do they hold?

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