March 16, 2022 07:48 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, March 16, 2022 (GLOBE NEWSWIRE) -- According to a new market research report " Green Chemicals Market Size, Share & Trends Analysis Report by Product (Bioalcohols, Biopolymers, Biosolvents, Organic Acids), by Applications (Food & Beverages, Personal Care, Packaging, Automotive), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)", published by Vantage Market Research, the global post COVID-19 market size of the Green Chemicals Market is expected to grow from USD 9,893.70 Million in 2021 to USD 16684.27 Million by 2028 at a CAGR of 9.10% during the forecast period.
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Green Chemicals Market are produced using plant or animal waste and are therefore environmentally friendly, non-toxic and abundant in nature. Due to growing concerns over the rapid depletion of oil and gas reserves, the adoption of Green Chemicals Market is expected to increase in the next coming years. Fluctuations in crude oil prices and increasing green chemistry applications in various industries are among the other factors expected to boost growth of the global Green Chemicals Market. Moreover, shifting consumer preference towards green and sustainable products, coupled with growing urbanization, and high disposable income are factors expected to create potential revenue opportunities for players operating in the global Green Chemicals Market. High investments by major players and new advancements for the development of various end-use products has created lucrative revenue opportunities for major manufacturers and suppliers of the Green Chemicals Market. Favorable government initiatives to promote the use of Green Chemicals Market owing to vehicle emissions and other environmental concerns is expected to support growth of the target market. Government initiatives such as "Made in India" and "Made in China" are encouraging many small players to enter the market, thereby driving the market demand for Green Chemicals Market and ultimately increasing competition, thereby boosting market growth.
Key Insights & Findings from the Report:
List of Prominent Players in the Green Chemicals Market:
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Drivers- Demand for Green Chemicals Market in End-use Industries
Growing demand for bioethanol as an alternative fuel in automotive industry owing to its properties such as reduce carbon dioxide emissions, cost-efficiency, etc. is a key factor expected to drive growth of the target market. Increasing demand for Green Chemicals Market in the production of intermediate chemical products is another factor expected to contribute significant revenue share in the global Green Chemicals Market. Additionally, the rising demand for Green Chemicals Market in packaging materials due to its properties such as easy disposal, low production cost, and others is a factor expected to augment growth of the global Green Chemicals Market.
The prime challenge is lack of awareness and commercialization regarding bio-based products in developing countries, predicted to reduce growth of the Green Chemicals Market. However, the high cost of Green Chemicals Market and availability of synthetic chemicals are factors expected to hamper the overall growth of the Green Chemicals Market over the coming years. Owing to the COVID-19 pandemic, the number of cases have been increasing which led to global or partial shutdown to maintain social distancing. According to a recent update, the industries are facing unprecedented economic losses due to disruptions in global supply chains for key players operating in the global Green Chemicals Market. Distributors, suppliers and retailers have inventory but can't sell, and manufacturers have to stop production to deal with the shutdown.
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The North America Green Chemicals Market is expected to register major market share in terms of revenue and projected to grow at a high CAGR in the near future. Growing population, rapid urbanization, increasing industrialization, coupled with increasing R&D activities by prominent players are factors expected to proliferate growth of the Green Chemicals Market in the region. Besides, Europe had a substantial share in the market due to developed economy and growing adoption of the product. This is due to the adoption of new strategies by the major players in the Green Chemicals Market. Moreover, the presence of key market players and increasing collaboration among major players for market penetration in the region provides the opportunity for growth of the global Green Chemicals Market.
In June 2021, JSW Cement Limited has entered the construction chemicals sector with a new range of green products that consume less water during usage. It replaces the use of river sand in the concrete pouring process with screening residues, thereby protecting natural resources and helping to prevent landslides, floods and air pollution.
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on "Green Chemicals Market Size, Share & Trends Analysis Report by Product (Bioalcohols, Biopolymers, Biosolvents, Organic Acids), by Applications (Food & Beverages, Personal Care, Packaging, Automotive), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/green-chemicals-market-market-964999
The report on the Green Chemicals Market highlights:
Key questions answered in the report:
This market titled “Green Chemicals Market” will cover exclusive information in terms of Geographic Segmentation, Forecast, Regional Analysis, Key Market Trends, and various others as mentioned below:
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