Why Is Everyone Talking About The Green Evolution Of The Chemical Industry?

 The Oil and Gas sector has been one of the most dominant supply verticals within the chemical industry. However, the total market has been shifting towards sustainable raw materials due to which the market for green chemicals  has been booming during the past decade. The overall chemical sector has been returning to its bio-roots.


What are Green Chemicals?

Green chemicals provide higher performance as well as functionality while being environmentally viable throughout their entire life cycle. Some of these chemicals are degradable, they disintegrate into innocuous products and can be recovered for further use. One of the key examples of green chemicals is green solvents. They are derived from crops and are regarded as environmentally friendly alternatives to petrochemical solvents. One of the key examples of green solvents is Ethyl Lactate which is used for the processing of corn. The growth in overall adoption of sustainable chemicals is poised to boost the surge in demand for green chemicals. The instating of government regulations is also expected to support the burgeoning growth of the green chemicals market.

Global Market Database is noted to be one of the key market research tools that can be used to identify the key market trends. The overall growth dynamics for the green chemicals market and the chemical industry’s market size can be procured using the same.



Regulatory Bodies and their Impact on Global Chemical Disposition

The effluents and chemical disposition of waste are regulated by bodies such as the EPA (Environment Protection Agency) for the US. In 2019, the EPA noted recorded voluntary disclosure and certified corrections of violations at more than 1,900 facilities. Between 2018 and 2019, the rise in the number of cases for environmental violations was accounted to be 20%. According to the EPA, in 2019 the number of criminal cases opened for improper disposal of chemicals was noted to be 170. Additionally, roughly USD 471 Million was collected via judicial civil penalties and combined federal administrative.

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