Green Chemicals Market Size to grow by USD 84 billion between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Green Chemicals Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges. The global generation of electronic waste has seen a significant increase in recent years, with an estimated 57.4 million metric tons produced in 2021, according to the UN Global E-waste Monitor 2022 study. This trend is driven by rising per capita income and frequent upgrades to consumer electronics such as cellphones and laptops. The high replacement rate of these devices poses a growing concern for the environment and human health due to the use of hazardous chemicals. In response, electronic companies are making strides towards the production and adoption of green chemicals in their manufacturing processes to mitigate the environmental impact of e-waste.

Key Highlights

Growth Projections

The global green chemicals market  size is estimated to grow by USD 84 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  11.66% during the forecast period. Scarcity of non-renewable sources is driving market growth, with a trend towards green electronics for a sustainable future  However, lack of availability of raw materials  poses a challenge.Key market players include Arkema Group., Balfour Beatty Plc, BASF SE, Bio Kleen, Cargill Inc., DuPont de Nemours Inc., Evonik Industries AG, George Weston Foods Ltd., GFBiochemicals Ltd., Givaudan SA, GREENCHEMICALS Spa, JSW Cement Ltd., Koninklijke DSM NV, Mitsubishi Chemical Group Corp., NatureWorks LLC, Novamont S.p.A., Novonor, Plantic Technologies Ltd., Toray Industries Inc., TotalEnergies SE, and Vertec Biosolvents Inc..

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Major Findings

• The Green Chemicals market is experiencing significant growth due to the increasing scarcity of non-renewable sources. Traditional chemical production processes rely heavily on fossil fuels, which are finite resources. In contrast, green chemicals are derived from renewable feedstocks, making them a sustainable alternative. This shift towards green chemicals is not only environmentally friendly but also economically viable in the long run. As the world moves towards a more sustainable future, the demand for green chemicals is expected to increase substantially.


• The Green Chemicals Market is subject to stringent government regulations and policies aimed at promoting the use of eco-friendly chemicals. Compliance with these regulations is essential for market participation. Regulatory bodies impose penalties for non-compliance, making it crucial for market players to adhere to environmental standards. These regulations drive innovation in the development of sustainable and non-toxic chemicals, ensuring a greener future for the industry.


• The Green Chemicals market faces a significant challenge due to the limited availability of raw materials. This hindrance can negatively impact the production capacity and growth potential of the industry. To mitigate this issue, ongoing research and development efforts are focused on discovering new sources and alternative production methods for green chemicals. Collaborative efforts among industry players, governments, and academic institutions are essential to address this challenge and ensure a sustainable future for the Green Chemicals market.


• The Green Chemicals market faces a significant threat from substitutes, primarily conventional chemicals that are cheaper and more widely available. These traditional chemicals, although less sustainable, offer short-term cost advantages to consumers. However, the long-term environmental and health consequences of using these chemicals may outweigh the initial cost savings. The shift towards green chemicals is gaining momentum due to increasing awareness and regulations, but the threat of substitutes remains a challenge for market growth.

Market Research Overview

The global diversified chemicals market encompasses businesses producing a wide array of chemical products that fall outside the realms of industrial gases, commodity chemicals, specialty chemicals, and fertilizers and agricultural chemicals. According to Technavio's market analysis, the size of the global diversified chemicals market is determined by the consolidated revenue generated by manufacturers of this diverse chemical product range. Factors driving the expansion of this market include robust demand from emerging economies, such as China, Brazil, Indonesia, and India. These nations offer attractive incentives, including government initiatives, cost-effective labor, ample land availability, and minimal transportation expenses, enticing numerous diversified chemicals manufacturers to establish operations in these regions.

The Green Chemicals Market is experiencing significant growth, fueled by the Scarcity of non-renewable sources. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Regional Insights

The Green Chemicals market is experiencing significant growth due to increasing environmental regulations and corporate sustainability initiatives. Businesses are shifting towards eco-friendly alternatives, driving demand for green chemicals. These chemicals offer reduced carbon footprint, improved energy efficiency, and reduced waste generation. Major industries such as pharmaceuticals, agriculture, and polymers are investing heavily in green chemistry to meet regulatory requirements and enhance their brand image. The market is projected to reach substantial growth in the coming years, presenting lucrative opportunities for manufacturers and suppliers.

Research Analysis Overview

The Green Chemicals Market is experiencing significant growth due to the increasing demand for sustainable production methods and eco-friendly products in various industries, including consumer goods, manufacturing, agriculture, and packaging. Bio-based polymers and chemicals derived from renewable feedstock such as plant and animal waste are becoming increasingly popular as alternatives to non-renewable resources. These green chemicals offer numerous benefits, including reduced energy consumption, non-toxicity, and the potential for cost-effective processing. The use of bio-based packaging materials, such as those made from plant waste, is also gaining traction in the market. Renewable sources are being explored for the production of biofuels like biodiesel and bioethanol, contributing to the growth of the biofuel market and the development of clean energy technologies. Regulations and legislation are driving the demand for sustainable production methods and greener products in the chemical goods industry. The phase-out of hazardous compounds and the promotion of renewable sources are key factors in this trend. The green chemicals market is expected to continue growing as consumers and businesses seek to reduce their carbon footprint and minimize their impact on the environment.

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