A recently published study about Green Chemistry anticipates dramatic growth rates for green chemicals during the coming decade. According to this report from Pike Research, Green Chemistry represents a market opportunity that will grow from 2.8 billion US$ in 2011 to approximately 100 billion US$ by 2020.
“Green chemistry markets are currently nascent, with many technologies still at laboratory or pilot scale,” says Pike Research president Clint Wheelock, “and many production-scale green chemical plants are not expected to be running at capacity for several more years. However, most green chemical companies are targeting large, existing chemical markets, so adoption of these products is limited less by market development issues than by the ability to feed extant markets at required levels of cost and performance.”
Despite these dramatic growth rates for green chemicals during the coming decade, these emerging markets represent just a drop in the bucket compared to the 4 trillion US$ global chemical industry. The total chemical industry is expected to expand to 5.3 trillion US$ in annual revenues.
This Pike Research report examines the three major segments of the Green Chemical market: waste minimization in conventional synthetic chemical processes, green replacements for conventional chemical products, and the use of renewable feedstocks to produce chemicals and materials with smaller environmental footprints than those produced by current processes.
Get more details about the Green Chemistry report from Pike Research