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Green Chemicals Market Research Report: By Product (Bioalcohols, Biopolymers, Biosolvents, Organic Acids), Application (Food & Beverages, Personal Care, Packaging, Automotive, Agriculture) – Global Industry Trends and Growth Forecast to 2030

  • Published: June 2020
  • Report Code: CM12026
  • Available Format: PDF
  • Pages: 170

Green Chemicals Market Overview

Valued at $9,540.0 million in 2019, the global green chemicals market size is projected to witness a CAGR of 6.6% during the forecast period (2020–2030). Rising adoption of bio-based packaging, harmful effects of inorganic chemicals, and increasing concerns regarding the fast-paced fossil fuel depletion are some key factors driving the growth of the green chemicals industry.

Green Chemicals Market Analysis

Bioalcohols are the Largest Product Category in the Green Chemicals Market

In 2019, the bioalcohols category accounted for the largest market size in the green chemicals industry, on the basis of product type. This is because of the high-volume adoption of bioethanol for the production of biofuels, along with the increasing usage of bioalcohol as an intoxicating agent in alcoholic beverages. In addition, bioalcohols witness a strong demand from the automotive industry, as a biofuel. Owing to the fact-paced depletion of the ozone layer from the combustion of harmful gases, governments of several countries are putting a strong focus on the adoption of bioalcohols.

Personal Care is Expected to be the Fastest-Growing Application Category During the Forecast Period

The personal care category, based on application, is projected to witness the fastest growth in the green chemicals market, during the forecast period, in addition to the significant market share held by the category in 2019. This can be attributed to the increasing awareness regarding benefits of bio-based beauty and personal hygiene products, over synthetic chemical-based beauty products. In addition, traditionally used synthetic beauty products can have a negative impact on skin with everyday usage, owing to the presence of high-volume petroleum-based chemicals in such products.

Moreover, the personal care sector is witnessing a rapid growth in developing countries, such as China, India, and other Southeast Asian countries, which, in turn, is propelling the demand chemicals derived from renewable sources. Therefore, such factors are likely to boost the green chemicals market in the APAC region.

European Region to Dominate the Green Chemicals Industry

According to the Green Chemicals Market Report, Europe held the largest share in the global green chemicals market, on the basis of both volume and value, during the historical period (2014–2019), due to the high environmental concerns in the region, thereby creating a high-volume demand from end-use industries. In addition, support from governments and organizations in the region, are further expected to promote adoption of environment friendly chemicals.

For instance, the European Commission's Lead Market Initiative aims to support the up-take of bio-based products in the region by using policy instruments, such as regulation, public procurement, standardization, and other supporting activities, in order to lower barriers to bring these new products into the market.

Top Regional Market in Green Chemicals Industry

Asia-Pacific Region to Showcase the Highest Growth

One of the major factors responsible for driving the growth of the green chemicals market in the region is the rapidly growing demand for renewable chemicals from end-use industries in developing countries, such as China, India, South Korea, and Thailand. In addition, the region is home to several large-scale green chemical manufacturers, majorly in China. The end-use industries, including food & beverages, personal care, and automotive, in the region are witnessing a strong growth, on account of increase in investments in these sectors.

In addition, manufacturers present in the region are putting an emphasis on research for the development of new techniques to convert renewable biomass into chemicals for a wide range of applications. With the increase in R&D activities for new product development, the green chemicals market in the region is expected to demonstrate a strong growth during the forecast period.

Green Chemicals Market Report Coverage
Report Attribute Details
Historical Years 2014-2019
Forecast Years 2020-2030
Base Year (2019) Market Size $9,540 million
Forecast Period (2020-2030) CAGR 6.6%
Report Coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies’ Strategical Developments, Product Benchmarking, Company Profiling
Market Size by Segments Product, Application, Geography
Market Size of Geographies U.S., Canada, Germany, France, U.K., Italy, China, India, South Korea, Japan, Brazil, Mexico, Colombia, U.A.E., Saudi Arabia, South Africa
Market Players Arkema Group, Abengoa, Aura Biotechnologies, Avantium N.V., BASF SE, BioAmber Inc., BiologiQ, Inc., Butamax Advance Biofuels LCC, Cardia Bioplastics, Dongguan Xinhai Environmental-Friendly Material Co. Ltd., Evonik Industries AG, Ecovia Renewables Inc., Fulcrum BioEnergy Inc., GFBiochemicals Ltd., Koninklijke DSM N.V., Mitsubishi Chemical Corporation, Plantic Technologies Ltd., Toray Industries Inc., Total Corbion PLA, Vertec Biosolvents Inc.
Secondary Sources and References (Partial List) American Chemical Society, American Society for Biochemistry and Molecular Biology, Bio-Based Industries Consortium, European Biomass Industry Association, European Chemical Industry Council, European Commission, European Committee for Standardization, International Council of Chemical Association

 

Rising Adoption of Bio-Based Packaging Augmenting Growth of the Global Market

Over the years, there has been a rise in adoption of packaging materials, made up of renewable sources, such as plant and animal waste, owing to their environment-friendly nature. In addition, such materials are non-toxic in nature, have a low production cost, and require less raw materials for production, as well as can be conveniently disposed, which helps in an overall reduction of carbon footprint.

With the rise in environmental concerns, the adoption of bio-based packaging materials is projected to increase at a fast pace, thereby increasing the demand of renewable chemicals, owing to their high-volume demand in the production of bio-based packaging materials.

In addition, increasing adoption of ready-to-go food is further propelling the demand for bio-based packaging and organic packaged foods, particularly in countries such as the U.S., the U.K., and Germany. This in turn is boosting the market demand for green chemicals to a huge extent, thereby providing a growth to the green chemicals market at a global level, and the trend is likely to continue during the forecast period.

Major Growh Drivers in Green Chemicals Industry

Increasing Concerns for Fossil Fuel Depletion Propelling Demand for Green Chemicals

Green chemicals have the ability to serve as suitable alternatives to petroleum-based chemicals for a wide range of applications in the food & beverages, automotive, personal care, packaging, agriculture, and textiles, among several other sectors. Since green chemicals are produced using plant or animal waste, as raw materials, which are abundantly available in nature, these chemicals serve as a low-cost alternative to fossil fuels that have a limited availability.

With rising concerns pertaining to limited availability of fossil fuels for future generations, governments across the globe are curtailing their fossil fuel consumption, and are compelling end-use industries to adopt bio-based chemicals. Hence, the shift towards adoption of such chemicals is promoting growth to the green chemicals market.

Market Players Launching New Products to Gain Competitive Edge

In recent years, players in the industry have launched a number of new and advanced green chemical products, in order to stay ahead of their competitors. For instance:

  • In October 2019, Braskem, one of the largest producers of biopolymers, announced the launch of its new I'm green recycled polypropylene in the U.S. With this launch, the company aims to encompass its full range of circular economy products, as part its commitment to help transform the plastics chain from a linear economy into a Circular Economy, a concept where materials are used, disposed of, and then recycled in a circular way.
  • In August 2019, SECOS Group Ltd. announced the launch of a new compostable resin grade. The new product enables the production of a stiffer film, which is suitable for converters looking to produce compostable bags and film products with stronger mechanical properties and at higher machine conversion speeds.
  • In May 2019, Eastman Chemical Company announced the launch of two new products, such as Eastman Trēva Engineering Bioplastic and Cristal EV600 Copolyester. Trēva is a cellulose-based plastic for opaque and color-tinted packaging with better performance and less environmental impact, and can directly serve as a replacement for acrylonitrile butadiene styrene (ABS) resin.

Some of Key Players in the Green Chemicals Market:

  • Arkema Group
  • Abengoa
  • Aura Biotechnologies
  • Avantium N.V.
  • BASF SE
  • BioAmber Inc.
  • BiologiQ, Inc.
  • Butamax Advance Biofuels LCC
  • Cardia Bioplastics
  • Dongguan Xinhai Environmental-Friendly Material Co. Ltd.
  • Evonik Industries AG
  • Ecovia Renewables Inc.
  • Fulcrum BioEnergy Inc.
  • GFBiochemicals Ltd.
  • Koninklijke DSM N.V.
  • Mitsubishi Chemical Corporation
  • Plantic Technologies Ltd.
  • Toray Industries Inc.
  • Total Corbion PLA
  • Vertec Biosolvents Inc.

Market Size Breakdown by Segment

The green chemicals market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.

Based on Product

  • Bioalcohols
  • Biopolymers
  • Biosolvents
  • Organic Acids

Based on Application

  • Food & Beverages
  • Personal Care
  • Packaging
  • Automotive
  • Agriculture

Geographical Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Colombia
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • South Africa
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