August 11, 2009

Global green chems worth $45bn

I've been waiting for some figures from consultants about the possible current worth of renewable chemicals and one finally arrived from a Delaware-based firm called Markets and Markets. They estimated the global renewable chemicals market to be worth $45bn this year and is expected to reach $59.1bn by 2014, with an aggregate growth rate of 5.3% from 2009-2014.

The U.S. and Europe is said to account for nearly 30% and 35% of the total revenues respectively. The largest market, Europe, is estimated to reach $21bn by 2014, with growth rate of 5.5% driven by consumer demand for green products and governmental support. The second largest segment, US, will reach $17.5bn by 2014 with growth rate of 5.1%.

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