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Green Chemistry $2.8 billion market opportunities in 2011
Commercial estimates have pegged the market in green chemistry at close to $100 billion!
A recently published study about Green Chemistry anticipates dramatic growth rates for green chemicals during the coming decade. According to this report from Pike Research, Green Chemistry represents a market opportunity that will grow from 2.8 billion US$ in 2011 to approximately 100 billion US$ by 2020... a part of the $5.3 trillion US chemical industry.
“Green chemistry markets are currently nascent, with many technologies still at laboratory or pilot scale,” says Pike Research president Clint Wheelock, “and many production-scale green chemical plants are not expected to be running at capacity for several more years.
Most green chemical companies are targeting large, existing chemical markets, so adoption of these products is limited less by market development issues than by the ability to feed extant markets at required levels of cost and performance.
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Edited by Carolyn Allen