Los Angeles, CA -- (SBWIRE) -- 12/24/2019 -- The global Green Chemical market is expected to benefit from growing demand for sustainable products. Green Chemicals, also known as bio-based chemicals, can fulfil the increasing demand for energy without having any adverse impacts on the environment. Green Chemicals are produced with the help of bio-based raw materials including sugar and starch, vegetable oils, animal fats, and bio-ethanol.
Manufacturers are aiming at introducing products with the help of principles of green chemistry. For instance, DuPont has recently announced that it would aim to design all its products as well as processes making use of the 12 principles of green chemistry by 2030. The company also seeks to expand its portfolio that is 'safer by design'. Sustainable innovation and product safety are the two major aspects they will be dealing with.
Novel Product Development to emerge as a key Strategy among Players
The report studies the key players operating in the market including Myriant Technologies LLC, BioAmber Inc., Novozymes A/S, Cargill Inc., DSM NV, DuPont Industrial Biosciences, INEOS Group Ltd., Aemetis, Agrisoma, BASF SE, Albemarle, Algae.Tec, BioArchitecture Lab, Dyadic, BioProcess Algae, Cellana, Ceres, Chemrec, Ecosynthetix, Braskem SA, Global Bioenergies, and Glycos Biotechnologies.
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Widening Application Scope of Green Chemicals to Drive the Market
Increasing Usage of Green Chemicals in the end-user industries such as packaging, construction, automotive, and agriculture is a key factor driving the Green Chemical market. Strict government regulations are propelling the chemical manufacturers to use bio-based raw materials while producing end products.
Increasing investment in research and development activities by the manufacturers to play a key role in driving the market to a great extent. Evolution of green chemistry in the chemical industry is one of the key trends emerging in the Green Chemical market.
Market Segmentation
By Type
? Bioethanol
? Animal Fats
? Sugar and Starch
? Vegetable Oils
By Application
? Healthcare
? Construction
? Food Processing
? Automobiles
The research analysts have predicted that the usage of Bioethanol is expected to witness a surge in the years to come owing to its eco-friendly property and widespread application. Demand for Green Chemicals is likely to upsurge in the construction industry in the forthcoming years. The automobiles industry is anticipated to emerge as a key application on account of increasing manufacturing of green electronics for a sustainable future.
Presence of leading companies and surge in the demand for sustainable products could support the Green Chemical market growth in North America. Government initiatives and dearth of non-renewable sources are some of the key factors driving the Green Chemical market in Asia Pacific. Europe is likely to emerge as a lucrative regional market in the near future.
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