Green Chemicals Market by Type (Bio-alcohols, Bio-organic Acids, Bio-ketones, Biopolymers, and Others), Application (Construction, Pharmaceuticals, Packaging, Food and Beverages, Paints and Coatings, Automotive, Textile, and Others), and Region 2023-2028

Green Chemicals Market by Type (Bio-alcohols, Bio-organic Acids, Bio-ketones, Biopolymers, and Others), Application (Construction, Pharmaceuticals, Packaging, Food and Beverages, Paints and Coatings, Automotive, Textile, and Others), and Region 2023-2028

The global green chemicals market size reached US$ 10.91 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.96 Billion by 2028, exhibiting a growth rate (CAGR) of 9.74% during 2023-2028. The growing environmental concerns, implementation of stringent government regulations and policies supporting the use of green technologies, and continual technological advancements in the formulation of green chemicals represent some of the key factors driving the market.

Green chemicals, also known as sustainable or eco-friendly chemicals, refer to substances that are produced using environmentally friendly processes and have minimal negative impact on human health and the environment throughout their life cycle. These chemicals are designed to reduce or eliminate the use of hazardous substances, conserve resources, and provide higher performance and functionality while being more environmentally benign throughout their entire life cycle. Additionally, they have similar or superior properties compared to conventional petroleum-based products and processes. Green chemicals are derived from renewable raw materials, such as agricultural crops, biomass, or waste streams, by using improved natural synthesis processes. They are biodegradable and undergo rigorous testing to reduce or eliminate hazardous properties, thereby making them safer for humans and the environment. Some of the advantages offered by these chemicals include substitution of hazardous substances in industrial processes, enhance worker safety, efficient building blocks for bioplastics and biofuels, environmental remediation of contaminated soil, air, or water.

Green Chemicals Market Trends:
The global market is primarily driven by the growing environmental concerns with an enhanced focus on reducing carbon emissions. This can be attributed to the implementation of stringent government regulations and policies supporting the use of green technologies and sustainable development practices. In line with this, the increasing consciousness among consumers regarding the long-term consequences of conventional chemical products on their health is providing an impetus to the market. Moreover, continual technological advancements in the formulation of green chemicals, such as the use of enzymatic processes and nanotechnology resulting in the advent of value-adding product variants, is fueling the market. The market is further driven by the rising integration of digital technologies, such as machine learning (ML) algorithms, artificial intelligence (AI), and real-time data collection in the green chemical production process. Furthermore, strategic partnerships and collaborations among chemical manufacturers, research institutions and government sectors facilitating the development of innovative green chemical applications are creating a positive market outlook. Some of the other factors contributing to the market include rapid product utilization in numerous corporate strategies, rising emphasis on supply chain sustainability, numerous campaigns promoting green chemicals, and increased investor interest in numerous green technologies.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global green chemicals market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on type and application.

Type Insights:

Bio-alcohols
Bio-organic Acids
Bio-ketones
Biopolymers
Others

The report has provided a detailed breakup and analysis of the green chemicals market based on the type. This includes bio-alcohols, bio-organic acids, bio-ketones, biopolymers, and others. According to the report, bio-alcohols represented the largest segment.

Application Insights:

Construction
Pharmaceuticals
Packaging
Food and Beverages
Paints and Coatings
Automotive
Textile
Others

A detailed breakup and analysis of the green chemicals market based on the application has also been provided in the report. This includes construction, pharmaceuticals, packaging, food and beverages, paints and coatings, automotive, textile and others. According to the report, construction accounted for the largest market share.

Regional Insights:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for green chemicals. Some of the factors driving the North America green chemicals market included growing environmental concerns, implementation of stringent government regulations and policies supporting the use of green technologies, presence of several key players, etc.

Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global green chemicals market. Detailed profiles of all major companies have also been provided. Some of the companies covered include 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., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:
How has the global green chemicals market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global green chemicals market?
What is the impact of each driver, restraint, and opportunity on the global green chemicals market?
What are the key regional markets?
Which countries represent the most attractive green chemicals market?
What is the breakup of the market based on the type?
Which is the most attractive type in the green chemicals market?
What is the breakup of the market based on the application?
Which is the most attractive application in the green chemicals market?
What is the competitive structure of the global green chemicals market?
Who are the key players/companies in the global green chemicals market?