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
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationCanada 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
In 2022, the global renewable chemicals market size was around USD 91.7 billion.
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 |
|
Base Year |
2022 |
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Historic Data |
2018 – 2021 |
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Estimated
Year |
2023 |
|
Forecast Period |
2024 – 2028 |
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Quantitative
Units |
Revenue
in USD Million, Volume in Thousand Tones, CAGR for 2018-2022 and 2023-2028 |
|
Report Coverage |
Revenue
forecast, company share, competitive landscape, growth factors, and trends |
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Segments Covered |
Products Application |
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Regional Scope |
Quebec,
Ontario, Alberta, British Columbia, Saskatchewan, Manitoba, Rest of Canada |
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Key Companies
Profiled |
GreenMantra Technologies, Enerkem,
BioAmber, Celluforce, GreenCentre Canada, Bioindustrial Innovation Canada
(BIC), CarbonCure Technologies, Terramera, Ingredion, Greenfield Global |
|
Customization
Scope |
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope. |
|
Pricing and Purchase
Options |
Avail
customized purchase options to meet your exact research needs. Explore
purchase options |
|
Delivery Format |
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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