In 2022, the biocomposites market size stood at $29.1 billion, which projected to witness 17.2% CAGR during 2022–2030, reaching $103.6 billion by 2030.
The global chitosan market was valued around $1.8 billion in 2020. The key factors responsible for the growth of the market are the rising adoption of chitosan in wastewater purification, food and beverage, pharmaceutical, agrochemical, bioplastic, and cosmetic applications.
The global boiler water treatment chemicals market is projected to showcase strong growth in the forecast period (2021–2030) on account of the increasing demand for chemically treated feed water for steam generation in boilers.
The global water treatment chemicals market stood at $48,938.1 million in 2019. The market is further expected to demonstrate a CAGR of 5.2% during the forecast period (2020–2030).
A prominent trend identified in the global green solvents market is the rising consumer preference toward eco-friendly paint & coating products. Products developed with petrochemical solvents contain volatile organic compounds (VOCs) and other emission-producing compounds that negatively affect the environment.
The major trend identified in the global bio-based organic acids market is the increasing investments in specialty chemical manufacturing. Companies, across the world, are increasingly investing in the manufacturing of bio-based chemicals to encourage the use of eco-friendly products.
Major trend being witnessed in the bioplastic packaging market is shift in consumer preference toward environmentally friendly plastic. Traditionally, manufactured plastic is derived from petrochemicals which are synthetic in nature and thus are non-biodegradable products. The conventionally manufactured plastic does not degrade naturally and cause severe environmental pollution, which is detrimental to the health of living organisms.
World over, there has been a rising trend on the consumption of environment friendly chemicals which can be produced through easily available renewable materials. Renewable chemicals are one such chemicals which are derived from rapidly replaceable sources of carbon. These chemicals are basically produced from renewable feedstock including biomass, microorganisms, and agricultural raw materials.
Furfuryl alcohol or 2-(Hydroxymethyl)furan is an organic compound having chemical structure, where a furan ring hydrogen gets substituted with a hydroxymethyl group. This organic compound can be produced through hydrogenation of furfuryl alcohol. The organic compound can be produced from waste vegetable materials such as corn cobs, oat hulls, cane bagasse, rice husk, and others.
The global bio-based PET market is estimated to be valued at $3,917.4 million in 2017 and is projected to witness a CAGR of 14.7% during the forecast period. The growing use of bio-based PET in various industries such as packaging, automotive, electronics, textile, medical, and horticulture is a major factor driving the growth of the market.
The global oleochemicals market is witnessing growth due to the favorable government regulations for environment friendly products, recyclability of oleochemicals, increasing demand for biodegradable and sustainable products, and growing end-user industries. High growth in the pharmaceutical, cosmetics and food industries are supporting the demand for these chemicals. The distinct governments across the globe are framing regulations to e