A green chemical is a type of chemical that provides great performance and better functionality while being more environmentally friendly throughout its life cycle. Green chemicals are used to reduce waste generation and save energy make use of renewable raw materials. Green chemicals are summarized as being a product that has superior properties when compared to petroleum-based products, and they are highly capable of decreasing the long-term consequences to the planet.
The research report, ‘Green Chemicals Market: Current Analysis and Forecast (2021-2027)’ states that some of the prime players functioning in the market include Arkema S.A., BASF SE, Evonik Industries AG, GF Biochemicals Ltd., Koninklijke DSM N.V., Mitsubishi Chemical Corporation, Toray Industries Inc., bio amber Inc, Total Corbion PLA, Vertec Bio Solvents Inc. The report also includes company profiling of each player mentioned above based on the fundamental parameters like production capacity, key business strategies, revenue, key performance indicators, recent investments, and developments made, regional presence a lot more other information which is important for the companies to help modify and sustain their position in the market. A framework is provided to analyze how far along the player stands in the competition and what steps are required to reach the planned destination in upcoming years.
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The report includes a bifurcation of the green chemicals market into various segments. Based on Product the segmentation is done into bio alcohols, biopolymers, bio solvents, organic acids, and others. Here, it is observed that the bio alcohol category is subjected to grow at a remarkable rate. The second segment is based on Application (food & beverages, personal care, packaging, automotive, agriculture, and others) it is anticipated in the automotive sector the demand for a green chemical called bioethanol will increase due to the factors mentioned in the report in depth. The other segment is based on Region (Europe, North America, Asia-pacific, and the rest of the world. This report also includes the world- wide analysis of the green chemical market, it describes the market covering all the points for the countries present in the afore-mentioned regions. These countries are India, China, Japan, Korea, Canada, the United States, France, Spain, and many others.
Similarly, the report also has sections dedicated to the market as a whole such as market dynamics, market trends (historical and current), application details, forecast predictions, data on sales and demand, recent technologies, and various features of the global market, and investment opportunities. The report also discusses several growth drivers, challenges, and restraints of the market. The report analyses the market quantitatively and qualitatively by tracing all the important sections influencing the market.
In the upcoming years, it is projected that the green chemical market will grow and reach a substantial value in terms of revenue in USD million by the end of the year 2027, and it is anticipated that the market will accomplish this growth at a double-digit CAGR during the forecast period from 2020-2027. The expansion of the market is mainly due to the increase in government support for green chemicals to prevent pollution and keep the environment benign.
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Ankur Gupta, Head Marketing & Communications