WASHINGTON, July 06, 2023 (GLOBE NEWSWIRE) — Global Green Chemicals Market is valued at USD 82.5 Billion in 2022 and is expected to reach a value of USD 204.2 Billion by 2030 at a CAGR of 12.1% over the forecast period 2023-2030.   Get Access to Free Sample Research Report with Latest Industry Insights @The Green Chemicals Market are heavily influenced by government rules and policies. The EPA, for example, promotes green chemistry, which is the development of chemical products and procedures that limit or eliminate the formation of harmful compounds. Existing rules must continue to effectively protect public health and the environment, as well as encourage investment in and scientific exploration of cleaner chemical technologies, colloquially known as green chemistry. Policy measures that improve market openness and accountability are critical for improving public and environmental health and lowering obstacles to green chemistry. In addition, many countries have tight restrictions in place regarding the use of hazardous chemicals and are encouraging the adoption of green alternatives through incentives, tax credits, and subsidies. These laws provide a favorable market environment for green chemicals while also encouraging businesses to develop and implement sustainable practises. For example, as part of the EU’s zero-pollution aim, the European Union has established a Chemicals Strategy for Sustainability, a vital commitment to the European Green Deal. Governments can also help drive the green transition by providing tax breaks, preferential financing, and sustainable finance such as green bonds or sustainability-linked loans.Continuous research and development efforts in green chemistry are leading to the development of innovative and sustainable chemical solutions. Advancements in technology, such as biotechnology, biomass conversion, and renewable energy sources, enable the production of bio-based chemicals and reduce reliance on fossil fuels. These technological advancements drive the growth and competitiveness of the Green Chemicals Market.The growth of the greenhouse industry relies on the collective efforts of individuals, businesses, and supportive institutions. By creating demand, investing in infrastructure and technology, developing innovative practices, and implementing supporting policies, these players contribute to the industry’s expansion and transition towards more sustainable and efficient methods. The most significant players operating in the Green Chemicals Market are Cargill Inc., BASF SE, Bio-Kleen Products Inc., Balfour Beatty PLC, DuPont Industrial, Biosciences, Dryvit Systems Inc., Anderson Corporation, Palmer Industries Inc., Plycem USA Inc., Silver Line Building Products LLC, Thermafiber Inc., Huber Engineered Woods LLC, Bayer Material Science AG, Kingspan Group, USG Corporation, Koninklijke DSM NV, and Calera Corporation.Vantage Market Research has analyzed the market for Green Chemicals to understand its current state and potential future growth factors. For better understanding, based on application, the green chemicals market is categorized into: Food & Beverages, Personal Care, Packaging, Automotive, Agriculture, and Others. We predict that by 2030, the market for green chemicals will account for more than 35% of total sales in the category of personal care owing to the growing consumer demand for sustainable and eco-friendly products. Green chemicals in the Personal Care sector are ingredients derived from renewable resources and manufactured through processes that have minimal environmental impact.
(GlobeNewsWire)