United Kingdom Sustainable Chemicals Market Size, Share, and COVID-19 Impact Analysis, By Product (Bio-Alcohols, Bio-Organic Acids, Bio-Ketones, Biopolymers, and Others), By Application (Industrial & Chemicals, Pharmaceuticals, Construction, Packaging, Automotive, and Others), and United Kingdom Sustainable Chemicals Market Insights, Industry Trend, Forecasts to 2033
Industry: Chemicals & MaterialsUnited Kingdom Sustainable Chemicals Market Insights Forecasts to 2033
- The U.K. Sustainable Chemicals Market Size was valued at USD 17.85 Million in 2023.
- The U.K. Sustainable Chemicals Market is growing at a CAGR of 5.06% from 2023 to 2033
- The U.K. Sustainable Chemicals Market Size is expected to reach USD 29.25 Million by 2033
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The United Kingdom Sustainable Chemicals Market Size is Anticipated to exceed USD 29.25 Million By 2033, Growing at a CAGR of 5.06% from 2023 to 2033. The shifting preference towards green and sustainable products, concerns over the rapid depletion of oil & gas, and advancement for the development of various end-use products are driving the growth of the sustainable chemicals market in the UK.
Market Overview
The sustainable chemicals market refers to the production and use of chemicals that produce eco-friendly products while minimizing environmental impact and promoting resource efficiency throughout their life cycle. Sustainable chemicals are green chemicals that minimize harm to the environment and human health, promoting resource efficiency and reducing waste. The consumer strive for meeting decarbonization targets and growing demand for sustainability related chemical products and solutions are anticipated to escalate the growth of sustainable chemicals market. Further, industries' commitment to reducing their greenhouse gas footprint leads to propelling the demand for sustainable chemicals. The shift toward sustainability-related chemical products, as well as consumer & company preferences for eco-friendly options, are escalating lucrative market growth opportunities for sustainable chemicals.
Report Coverage
This research report categorizes the market for the UK sustainable chemicals market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United Kingdom Sustainable Chemicals market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the UK sustainable chemicals market.
United Kingdom Sustainable Chemicals Market Report Coverage
Report Coverage | Details |
---|---|
Base Year: | 2023 |
Market Size in 2023: | USD 17.85 Million |
Forecast Period: | 2023-2033 |
Forecast Period CAGR 2023-2033 : | 5.06% |
2033 Value Projection: | USD 29.25 Million |
Historical Data for: | 2019-2022 |
No. of Pages: | 199 |
Tables, Charts & Figures: | 100 |
Segments covered: | By Product, By Application and COVID-19 Impact Analysis |
Companies covered:: | Mitsubishi Chemical UK Limited, Cargill PLC, BASF SE, Arkema UK Limited, Toray International UK Ltd. (TIUK), Evonik Industries AG, DSM United Kingdom Limited, Aemetis, Inc., Albemarle Corporation, and other key vendors. |
Pitfalls & Challenges: | COVID-19 Empact, Challenge, Future, Growth, & Analysis |
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Driving Factors
The upsurging trend of green and sustainable products with the growing consumer priority for eco-friendly choices and sustainable products and services offered by businesses in order to comply with environmental sustainability is propelling the market. The depletion of oil resources and gas production in the country leads to driving the preference for sustainable resources, thereby augmenting the sustainable chemicals market. The use of green and sustainable chemistry innovation for creating sustainable products and consumption with minimized (or no) chemical hazard potential is propelling the market growth.
Restraining Factors
The high cost of bio-derived chemicals and complex manufacturing processes are challenging the sustainable chemicals market. Further, the lack of awareness and regulatory support is restraining the market.
Market Segmentation
The United Kingdom sustainable chemicals market share is classified into product and application.
- The bio-alcohols segment dominates the market with the largest market share in 2023 and is expected to grow at a significant CAGR during the projected period.
The United Kingdom sustainable chemicals market is segmented by product into bio-alcohols, bio-organic acids, bio-ketones, biopolymers, and others. Among these, the bio-alcohols segment dominates the market with the largest market share in 2023 and is expected to grow at a significant CAGR during the projected period. Bio-alcohols are increasingly recognized as sustainable chemicals and are fossil fuel and petrochemical alternatives widely used in transportation, chemicals, and other industries. The increasing awareness and issues related to chemical modification, pollution, and depletion of fossil fuels lead to propel the market demand in the bio-alcohols segment.
- The pharmaceuticals segment dominates the market with a major market share and is expected to grow at a significant CAGR during the projected period.
The United Kingdom sustainable chemicals market is segmented by application into industrial & chemicals, pharmaceuticals, construction, packaging, automotive, and others. Among these, the pharmaceuticals segment dominates the market with a major market share and is expected to grow at a significant CAGR during the projected period. Sustainable chemicals in the pharmaceutical sector aim to minimize environmental impact, reduce waste, and enhance efficiency in drug development and manufacturing. The regulatory pressures on cleaner production methods and increased emphasis on the ethical consumption of chemicals are propelling the market demand.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the U.K. sustainable chemicals market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Mitsubishi Chemical UK Limited
- Cargill PLC
- BASF SE
- Arkema UK Limited
- Toray International UK Ltd. (TIUK)
- Evonik Industries AG
- DSM United Kingdom Limited
- Aemetis, Inc.
- Albemarle Corporation
- Others
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In March 2023, the University of York partnered with renewable chemicals company, Circa Group, to launch the Circa Renewable Chemistry Institute (CRCI). The new Institute aims to produce and promote bio-based products that are safer and more sustainable for the chemical industry. The partnership also means that students would be able to work on real-world projects in renewable chemistry to support their future careers in the industry.
Market Segment
This study forecasts revenue at U.K., regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United Kingdom Sustainable Chemicals Market based on the below-mentioned segments
UK Sustainable Chemicals Market, By Product
- Bio-Alcohols
- Bio-Organic Acids
- Bio-Ketones
- Biopolymers
- Others
UK Sustainable Chemicals Market, By Application
- Industrial & Chemicals
- Pharmaceuticals
- Construction
- Packaging
- Automotive
- Others
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