Global Green Chemicals Industry is expected to record a positive CAGR of ~10% during the forecast period (2022-2028): Ken Research
Global Green Chemicals Market By Geography
The Global Green Chemicals market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. Europe region accounted for the largest share of the global green chemicals market in 2022, due to the presence of key players in the region and the rising adoption of green chemicals across different industries. The increasing focus on the production of green chemicals along with rising concerns regarding the impact of harmful chemicals on the environment, is expected to augment the growth of the region in the green chemicals market.
Competition Scenario In Global Green Chemicals Market
The Green Chemicals market is highly competitive with ~200 players that include globally diversified players, and regional players as well as a large number of country-niche players having their niche in green chemicals.
Regional players comprise ~35% of the total number of competitors, while the country-niche players comprise the highest of the total number of competitors. Some of the major players in the market include Cargill, Incorporated, Mitsubishi Chemical Group Corporation, BASF SE, DuPont, DSM, Evonik, Plantic, Bayer Material Science AG, Verdant Law, and Arkema, among others. The leading global green chemicals companies such as Cargill, Incorporated, Mitsubishi Chemical Group Corporation, and BASF SE are highly focused on the research and development of green chemicals.
What Is the Expected Future Outlook for The Overall Global Green Chemicals Market Across the Globe?
The Global Green Chemicals market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
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The Global Green Chemicals market is driven by factors such as rising concerns regarding the harmful impact of chemicals on the environment coupled with increasing awareness regarding green chemicals. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
The Global Green Chemicals market is also widely impacted by the new mergers and acquisitions happening in the market. For instance, In September 2022, BASF SE announced a partnership with RiKarbon Inc., a technology start-up based in the USA. The partnership focused on the R&D activities of RiKarbon Inc. for new green emollients from bio-waste for personal care Formulations.
In December 2021, Cargill, Incorporated acquired Croda’s bio-based industrial business for US$ 1.03 billion. The company aimed to expand its bio-industrial footprints to expand its greener ingredient solutions.
The global green chemicals market is forecasted to continue fast growth, primarily driven by the increasing demand for green chemicals in different industries and the scarcity of non-renewable resources. Furthermore, supportive government regulations for the use of green chemicals is expected to fuel the growth of the market. Though the market is highly competitive with ~200 participants, regional players control the dominant market share.
Market Taxonomy
By Type
- Bio-Alcohols
- Bio-Organic Acids
- Bio-Ketones
- Biopolymers
- Others
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By End-User
- Industrial & Chemical
- Pharmaceuticals
- Food and Beverages
- Construction
- Others
By Geography
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Sweden, Italy)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia)
- LAMEA (Latin America, Middle East, Africa)
Key Players
- Cargill, Incorporated
- Mitsubishi Chemical Group Corporation.
- BASF SE
- DuPont
- DSM
- Evonik
- Plantic
- Bayer Material Science AG
- Verdant Law
- Arkema
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