Canada green chemicals market is
expected to grow impressively through 2028. This is due to the increasing
government support and initiatives. In 2022, the global renewable chemicals
market size was around USD 91.7 billion. 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. In recent years, the global shift
towards sustainability has brought about significant changes in various
industries. One crucial sector that has witnessed transformative advancements
is chemistry, particularly with the emergence of green chemicals.
Green chemicals are typically
derived from renewable resources, such as plants, agricultural waste, or
bio-based materials. By moving away from fossil fuel-based feedstocks, these
chemicals contribute to reducing carbon emissions and dependence on
non-renewable resources. Green chemicals are designed to have minimal adverse
effects on the environment. They undergo rigorous testing to ensure
biodegradability, low toxicity, and eco-friendly disposal. This ensures that
they do not persist in ecosystems or harm wildlife.
Canada, renowned for its
commitment to environmental sustainability, is at the forefront of embracing
green chemicals as a key driver of sustainable chemistry. With a growing demand
for eco-friendly solutions and a strong focus on reducing environmental impact,
the Canada green chemicals market is witnessing remarkable growth.
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.
Canadian government has been
proactive in promoting the adoption and development of green chemicals through
various initiatives and policies. Notably, the government's commitment to the
United Nations Sustainable Development Goals (SDGs) has provided a framework
for fostering sustainable chemistry practices. Additionally, programs, such as
the Chemicals Management Plan (CMP) and the Green Chemistry Initiative (GCI)
have been instrumental in driving research, innovation, and the
commercialization of green chemical technologies.
Rising Government Support and
Initiatives
Canadian government has played a
pivotal role in promoting the adoption and development of green chemicals
through supportive policies and initiatives. The Chemicals Management Plan
(CMP) and the Green Chemistry Initiative (GCI) are two notable programs aimed
at advancing research, innovation, and commercialization of green chemical
technologies. These initiatives provide funding, grants, and regulatory support
to accelerate the development and market penetration of sustainable chemical
alternatives.
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.
United Nations' Sustainable
Development Goals (SDGs) provide a framework for countries to address social,
economic, and environmental challenges. Canada's commitment to achieving these
goals has further accelerated the growth of the green chemicals market. Green
chemicals align with several SDGs, including responsible consumption and
production (SDG 12), climate action (SDG 13), and industry innovation and
infrastructure (SDG 9). The integration of green chemicals enables Canada to make
significant progress towards a sustainable and low-carbon economy.
Shifting Consumer Demand is
Driving Market Growth
Consumer preferences and
awareness are driving the growth of the green chemicals market in Canada.
Today, consumers are more conscious of the environmental impact of products
they purchase and are actively seeking sustainable alternatives. The demand for
eco-friendly products spans various sectors, including personal care, cleaning
products, packaging, and construction materials. Companies that offer green
chemical solutions are gaining a competitive advantage by catering to this
evolving consumer demand.
Collaborations between industry
players, research institutions, and government agencies are playing a
significant role in driving innovation and commercialization within the green
chemicals sector. Partnerships facilitate knowledge sharing, research funding,
and access to resources necessary for developing and scaling up green chemical
technologies. Canadian organizations, such as GreenCentre Canada and the
National Research Council (NRC) actively foster collaborations and provide
support to bridge the gap between academia and industry.
Canada has a strong research and
innovation ecosystem focused on green chemistry. Research institutions, universities,
and innovation centers are actively engaged in developing novel green chemical
technologies. Ongoing research efforts aim to improve the efficiency,
cost-effectiveness, and scalability of green chemicals. Investments in research
and innovation contribute to the expansion of the market by fostering the
development of new products and processes that meet environmental
sustainability goals.
Major Challenges of Canada
Green Chemicals Market
Scaling up green chemical
processes can be complex and costly, requiring significant investment in
infrastructure, equipment, and production facilities. Companies must navigate
the technical and financial hurdles associated with scaling up while ensuring
that the environmentally friendly attributes of green chemicals are maintained.
Collaboration between industry, government, and research institutions is vital
to provide support, expertise, and funding to facilitate successful
commercialization.
While green chemicals offer
environmental benefits, their higher production costs compared to traditional
chemicals can pose a barrier to market adoption. Factors such as the
availability and cost of feedstocks, process efficiency, and economies of scale
influence the overall cost of green chemicals. Addressing cost competitiveness
is crucial to ensure that green chemicals can compete effectively with
conventional alternatives. Continued research and innovation focused on
improving production efficiency, reducing raw material costs, and leveraging
economies of scale can help drive down the costs associated with green
chemicals.
While regulations are important
for safeguarding human health and the environment, navigating the complex
regulatory landscape can be challenging for green chemical manufacturers.
Compliance with diverse regulations, such as product registration, labelling
requirements, and safety standards, adds complexity and costs to the
development and commercialization of green chemicals. Harmonizing and
streamlining regulations related to green chemicals can help facilitate market
access and encourage investment and innovation within the industry.
Collaborative efforts between industry stakeholders and regulatory bodies are
essential to create a supportive regulatory framework that fosters the growth
of green chemicals.
The availability of sustainable
and renewable feedstocks is critical to produce green chemicals. However,
securing a consistent and affordable supply of feedstocks can be a challenge.
Competition for bio-based feedstocks with other industries, such as bioenergy
and agriculture, can limit availability and drive-up costs. Developing robust
supply chains and exploring alternative feedstock sources, such as agricultural
waste or algae, can help ensure a reliable and diversified feedstock base for
green chemical production.
Recent Trends and Developments
Canadian government has continued
to demonstrate its commitment to the growth of the green chemicals sector by
providing financial support and funding opportunities. Notably, the Strategic
Innovation Fund (SIF) has allocated significant funding to support research,
development, and commercialization of sustainable technologies, including green
chemicals. These investments have facilitated innovation, promoted
collaboration between industry and research institutions, and accelerated the
development of green chemical technologies.
The development of bio-based
feedstocks for green chemicals has been a focus area in Canada. Various
organizations and research institutions have made significant strides in
developing sustainable feedstock sources. For example, the Alberta Bio Future
program, launched in 2019, supports research and development of renewable
resources and bio-industrial technologies, including bio-based feedstocks for
green chemicals. These efforts aim to reduce dependence on fossil fuel-based
feedstocks and promote the use of renewable resources in the production of
green chemicals.
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Market Segmentation
Canada green chemicals market is
segmented based on products, application, and region. Based on products, canada
green chemicals market is categorized into bio-alcohols, bio-organic acids,
bio-ketones, biopolymers, and others. Based on application canada green
chemicals market is segmented into industrial & chemicals, pharmaceuticals,
construction, packaging, automotive, and others. Based on region, Canada green
chemicals market is divided into Quebec, Ontario, Alberta, British Columbia,
Saskatchewan & Manitoba, and rest of Canada.
Market Players
GreenMantra Technologies,
Enerkem, BioAmber, Celluforce, GreenCentre Canada, Bioindustrial Innovation
Canada (BIC), CarbonCure Technologies, Terramera, Ingredion, and Greenfield
Global are some of the key players of the Canada green chemicals market.
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Attribute
|
Details
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Base Year
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2022
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Historic Data
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2018 – 2021
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Estimated
Year
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2023
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Forecast Period
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2024 – 2028
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Quantitative
Units
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Revenue
in USD Million, Volume in Thousand Tones, CAGR for 2018-2022 and 2023-2028
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Report Coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
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Segments Covered
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Products
Application
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Regional Scope
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Quebec,
Ontario, Alberta, British Columbia, Saskatchewan, Manitoba, Rest of Canada
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Key Companies
Profiled
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GreenMantra Technologies, Enerkem,
BioAmber, Celluforce, GreenCentre Canada, Bioindustrial Innovation Canada
(BIC), CarbonCure Technologies, Terramera, Ingredion, Greenfield Global
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Customization
Scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
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Pricing and Purchase
Options
|
Avail
customized purchase options to meet your exact research needs. Explore
purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable version
of the report in PPT/Word format on special request)
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Report
Scope:
In
this report, Canada green chemicals market has been segmented into the
following categories, in addition to the industry trends, which have also been
detailed below:
- Green
Chemicals Market, By Products:
- Bio-Alcohols
- Bio-
Organic Acids
- Bio-Ketones
- Biopolymers
- Green
Chemicals Market, By Application:
- Industrial
& Chemicals
- Pharmaceuticals
- Construction
- Packaging
- Automotive
- Others
- Green
Chemicals Market, By Region:
- Quebec
- Ontario
- Alberta
- British
Columbia
- Saskatchewan
& Manitoba
- Rest
of Canada
Competitive
landscape
Company
Profiles: Detailed
analysis of the major companies present in Canada green chemicals market.
Available
Customizations:
With
the given market data, TechSci Research offers customizations according to a
company’s specific needs. The following customization options are available for
the report:
Company
Information
- Detailed
analysis and profiling of additional market players (up to five).
Canada
green chemicals market is an upcoming report to be released soon. If you wish
an early delivery of this report or want to confirm the date of release, please
contact us at
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