The green chemicals market is expected to grow from $108.53 billion in 2023 to $121.2 billion in 2024, with a compound annual growth rate (CAGR) of 11.7%. This growth is attributed to several factors, including: Regulatory pressure for sustainable practices, Consumer demand for eco-friendly products, Increased awareness of environmental impact, Adoption of renewable feedstocks, and Expansion of bio-based polymers and plastics.
Green chemistry is a chemical sciences approach that aims to reduce or eliminate the use of hazardous substances in the design, manufacture, use, and disposal of chemical products. Some principles of green chemistry include:
Atom economy
A measure of how many atoms of the reactants are incorporated into the final product
Designing safer chemicals
Chemical products should be designed to reduce toxicity while preserving their function
Safer solvents and auxiliaries
The use of substances that are necessary for the chemical reaction but do not directly contribute to the structure of the reaction product
Paul T. Anastas and John C. Warner developed the 12 Principles of Green Chemistry in 1991.
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