Meticulous Research®, a renowned global market research company, has issued a detailed report titled ‘Green Chemicals Market by Type (Bio-alcohols, Bio-polymers, Bio-organic acids, Bio-ketones, Others), Application (Industrial & Chemical, Food & Beverages, Pharmaceuticals, Packaging, Construction, Automotive, Other Industries) – Global Forecast to 2029.’ The report forecasts that the green chemicals market will achieve a value of $217.18 billion by 2029, growing at a CAGR of 11.6% from 2022 to 2029. This anticipated growth is driven by the depletion of non-renewable resources, heightened awareness about sustainable products, and supportive government initiatives.
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Despite the growth prospects, the market faces challenges including high production costs, volatile raw material prices, and specific technical issues in biodegradation processes. Additionally, the production of inhibitory compounds during bioethanol manufacturing poses significant hurdles.
The report segments the green chemicals market by product type, application, and geographic location, offering a thorough analysis of market players and competition at the national level.
In 2022, bio-alcohols were the leading segment, driven by their availability, rising energy needs, and strict emission standards. The bio-polymers segment is expected to grow rapidly due to increased consumer preference for bioplastics and advancements in R&D.
Among bio-alcohols, bio-ethanol is expected to capture the largest market share in 2022 due to its cost advantages and environmental benefits. Bio-butanol is forecasted to grow the fastest, owing to its higher energy content and more favorable vapor pressure.
By application, the industrial & chemicals segment dominated in 2022, driven by industrial growth and increasing energy demand. However, the packaging segment is projected to grow at the highest rate, fueled by demand for biodegradable packaging and increasing regulations against single-use plastics.
Regionally, Europe is expected to lead the market in 2022, with Germany being a significant contributor to the growth in this region. The European market’s expansion is supported by strong demand for sustainable solutions, advanced research capabilities, and favorable regulations.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/green-chemicals-market-5008
Key Players:
The key players operating in the green chemicals market include Cargill, Incorporated (U.S.), Mitsubishi Chemical Holdings Corporation (Japan), BASF SE (Germany), DuPont de Nemours, Inc. (U.S.), Koninklijke DSM N.V. (Netherlands), Evonik Industries AG (Germany), SECOS Group Ltd. (Australia), Braskem SA (Brazil), Aemetis, Inc. (U.S.), and Albemarle Corporation (U.S.).
Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of product, application, and geography?
- What is the historical market size for green chemicals across the globe?
- What are the market forecasts and estimates for the period 2022–2029?
- What are the major drivers, restraints, opportunities, and challenges in the green chemicals market?
- Who are the major players in the market, and what are their market shares?
- Who are the major players in various countries, and what are their market shares?
- How is the competitive landscape for the green chemicals market?
- What are the recent developments in the green chemicals market?
- What are the different growth strategies adopted by the major players operating in the market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the green chemicals market, and how do they compete with other players?
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