Prominent factors such as the rising demand for bio-based packaging materials and growing concerns over fossil fuel depletion are projected to drive the green chemicals market at a CAGR of 8.9% during 2020–2030. The market was valued at $9,413.1 million in 2020 and it is expected to generate $22,039.0 million revenue by 2030. Green chemicals are non-toxic and do not emit sulfur dioxide or particulate matter, as they are derived from plant or animal waste.
The increasing adoption of bio-based packaging materials, on account of the growing concerns being raised over environmental degradation, is one of the key growth drivers of the market. The packaging industry is generating a high demand for packaging materials derived from renewable sources, such as plant and animal waste, as they are cost-effective, non-toxic, and require less raw materials for production. As compared to traditional materials, bio-based packaging materials are easier to dispose of and thus, their growing adoption helps in reducing environmental pollution to a considerable degree.
The product segment of the green chemicals market is classified into organic acids, biosolvents, bioalcohols, bioplolymers, and others, such as biolubricants and biosurfactants. Among these, the bioalcohols category generated the highest revenue in 2020, and it is expected to continue this trend throughout the forecast period. This can be owed to the large-scale consumption of bioethanol as an alternative fuel for the spark-ignition engines of automobiles. Besides, the increasing use of bioethanol in the production of alcoholic beverages, such as gin, beer, whiskey, vodka, and brandy, will also contribute to the growth of this category.
Furthermore, the application segment of the green chemicals market is categorized into personal care, agriculture, food and beverages, automotive, packaging, and others, such as construction, textiles, paints and coatings, and electrical and electronics. Under this segment, the personal care category is projected to exhibit the fastest growth during the forecast period (2021–2030), owing to the surging concerns being raised over the harmful effects of synthetic chemicals on the skin. Moreover, the increasing adoption of bio-based personal hygiene and beauty products will also support the growth of this category.
At present, the players in the green chemicals market are launching new products to attain a notable position. For example, in October 2019, Braskem introduced a new 'I'm green' recycled polypropylene in the U.S. to include its entire portfolio of circular economy products as a part of its commitment to aid in the transformation of the plastic chain from a linear economy into a circular economy. In a circular economy, the materials are utilized, disposed of, and then recycled in a circular manner.
Therefore, the rapid depletion of fossil fuel reserves and escalating demand for bio-based packaging materials will boost the market growth in the upcoming years.
AMA Research published a new research publication on "Global Green Chemicals Market Insights, to 2026" with 150+ pages and enriched with self-explained Tables and charts in presentable format.
In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders.
These chemicals are less harmful and are produced primarily using raw materials, which uses fewer natural resources, maintaining the environmental balance.Market Competition This report covers the recent COVID-19 incidence and its impact on Global Green Chemicals Market.
This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
Each company profiled in the research document is studied considering various factors such as product and its application portfolios, market share, growth potential, future plans, and development activity like merger & Acquisitions, JVs, Product launch etc.
Some of the key players profiled in the study are BASF SE (Germany), BioAmber Inc. (United States), Braskem (Brazil), Danimer Scientific (United States), Mitsubishi Chemical Corporation (Japan), Myriant Corporation (United States), Synbra Holding bv (Netherlands), NatureWorks LLC (United States), DSM (United States), Corbion (Netherlands), Cargill (United States), DuPont Industrial Biosciences (United States), INEOS Group (United Kingdom).
Transparency Market Research (TMR) has published a new report titled, ‘Nitinol Medical Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’.
According to the report, the global Nitinol medical devices market was valued at US$ 14,571.7 Mn in 2018 and is projected to expand at a CAGR of 8.5% from 2019 to 2027.Request Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=1685 OverviewNitinol is an unique class of shape-memory alloy that is made of nickel titanium.
Nitinol properties include the shape-memory effect, super elasticity, and high damping capability.
These technical properties of nitinol shape-memory alloy can be modified to a large extent by changes in composition, heat treatment, and mechanical working.Some of the major properties of nitinol include high fatigue strength, nonmagnetic, high power/weight ratio, corrosion resistance, heat resistance, and biocompatible.Nitinol is used in cardiovascular stents, kink resistant guide wires, minimally invasive surgical tools, and self-locking orthopedic devices.
).North America dominated the global nitinol medical devices market in 2018 and the trend is anticipated to continue during the forecast period.
Increasing adoption of technological advanced products and increasing prevalence of peripheral artery disease has contributed to dominant share of the region in global market.Asia Pacific is likely to be a highly lucrative market for nitinol medical devices and it is expected to expand at a high CAGR during the forecast periodRequest Customization on Nitinol Medical Devices Market Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR_id=1685 Increased Clinical Application of Nitinol Based Products in Medical Procedures to Drive MarketUsage of nitinol in the medical industry has increased due to demand for minimally invasive procedures utilizing novel instruments and implants.
