Canada Green Chemicals Market to be Dominated by Bio-Alcohols Through 2028
Canada green chemicals market
is increasing owning to the increasing government support and initiatives.
According to TechSci Research
report, “Canada Green Chemicals Market - By Region, Competition, Forecast
and Opportunities, 2028", the Canada green chemicals market is
anticipated to increase at an impressive rate in the forecast period 2024-2028.
Canada green chemicals market is expected to grow impressively through 2028 due
to increasing government support and initiatives. Green chemicals can be
broadly defined as chemical products and processes that are developed and used
in a manner that reduces or eliminates harm to human health and the environment.
Unlike traditional chemicals, which often pose risks, such as toxicity,
persistence, and bioaccumulation; green chemicals are carefully engineered to
align with the principles of sustainability. They are manufactured using
renewable raw materials, energy-efficient processes, and result in reduced
emissions, waste, and ecological footprints.
Canadian green chemicals market
has experienced robust growth in recent years, driven by increasing
environmental awareness, stringent regulations, and the need to transition
towards a low-carbon economy. The market encompasses a diverse range of
sectors, including agriculture, personal care, construction, automotive, and
more. Green chemicals in Canada are designed to mitigate negative environmental
impacts, improve resource efficiency, and enhance overall sustainability.
Canada has implemented stringent
regulations to control the use and disposal of hazardous chemicals. The
government's commitment to safeguarding human health and the environment has
created a favorable environment for the growth of green chemicals. Regulations
such as the Canadian Environmental Protection Act (CEPA) and the Hazardous
Products Act (HPA) drive the demand for safer and more sustainable chemical
alternatives, encouraging companies to invest in research and development of
green technologies.
While consumer demand for
sustainable products is growing, there is still a need to raise awareness and
educate consumers about the benefits and value of green chemicals. Many
consumers may not be fully aware of the environmental and health risks
associated with conventional chemicals or the availability of sustainable
alternatives. Communicating the advantages of green chemicals, such as reduced
environmental impact and improved safety profiles, can drive demand and
incentivize companies to invest in greener solutions. Marketing and educational
campaigns that emphasize the value proposition of green chemicals can help
create a more informed and supportive market.
Continuous research and
development are critical for the advancement of green chemicals in Canada.
Further investment is needed to explore new technologies, improve existing
processes, and discover innovative solutions. Collaborations between academia,
industry, and government entities can facilitate knowledge sharing, accelerate
research, and provide funding for R&D initiatives. Strengthening the
research and innovation ecosystem will be vital in overcoming technical
challenges and unlocking the full potential of green chemicals.
The adoption of green chemicals
in diverse industries has gained momentum in Canada. Companies across sectors
such as personal care, agriculture, packaging, and construction have embraced
sustainable alternatives to conventional chemicals. For instance, the personal
care industry has witnessed a shift towards natural and organic ingredients,
driving demand for green chemicals in formulations. In agriculture,
eco-friendly pesticides and fertilizers have gained popularity and enabled sustainable
farming practices while minimizing environmental impact.
Life Cycle Assessments (LCAs)
have become increasingly important in evaluating the environmental footprint of
chemicals and products. In Canada, there has been a growing emphasis on conducting
comprehensive LCAs for green chemicals to ensure their sustainability
credentials. The incorporation of LCA data into product labeling and marketing
efforts provides transparency to consumers and stakeholders, enabling informed
decision-making and promoting sustainable choices.
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Figures spread through XX Pages and an in-depth TOC on "Canada Green Chemicals Market."
Canada green chemicals market is
segmented based on product, application, and region.
Based on product, Canada green
chemicals market is divided into bio-alcohols, bio-organic acids, bio-ketones,
biopolymers, others. Bio-alcohols segment is expected to hold the largest
market share in the forecast period as they have a lower environmental impact
than traditional petroleum-based chemicals.
Based on application, Canada
green chemicals market is divided into industrial & chemicals,
pharmaceuticals, construction, packaging, automotive, and others. Construction
segment is expected to hold the largest market share in the forecast period due
to the increased investments in upcoming megaprojects in the country.
Major companies operating in Canada green chemicals
market are:
- GreenMantra Technologies
- Enerkem
- BioAmber
- Celluforce
- GreenCentre Canada
- Bioindustrial Innovation Canada
(BIC)
- CarbonCure Technologies
- Terramera
- Ingredion
- Greenfield Global
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“Government support, stringent
regulations, shifting consumer demand, industry collaborations, and research
and innovation efforts are converging to drive the adoption and
commercialization of eco-friendly chemical alternatives. The collective efforts
of stakeholders in Canada's chemical industry are not only fueling market
growth but also contributing to the country's sustainability goals and
positioning it as a leader in the global transition to a greener and more
sustainable future" said Mr. Karan Chechi, Research Director with TechSci
research, a research based global management consulting firm.
“Canada Green Chemicals
Market, By Product (Bio-Alcohols, Bio-Organic Acids, Bio-Ketones, Biopolymers,
and Others), By Application (Industrial & Chemicals, Pharmaceuticals,
Construction, Packaging, Automotive, and Others), By Region, Competition, Forecast
and Opportunities, 2028” has evaluated the future growth potential of
Canada green chemicals market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Canada green
chemicals market.
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