Request More Information
MarketsandMarkets study finds renewable chemicals sector will be worth $59
A new research report from the consultancy MarketsandMarkets predicts bright business career opportunities in the global green chemistry sector, as it projects it will be worth some $59 billion in 2014.
The company's analysts explain renewable chemicals are obtained from sources such as agricultural raw materials, agricultural waste products or biomass, and microorganisms. They add the market's growth is driven by the increasing demand from the food packaging industry, biodegradable and compostable plastics and other consumer products.
Alcohols compose the largest segment of the renewable chemicals market today, but it is expected the polymers segment has the highest growth potential in the 2009-2014 timeframe.
The study also found the U.S. and Europe will account for nearly 30 percent and 35 percent of the total revenues, respectively. Currently, the market is estimated at about $45 billion.
For those who would like to take advantage of this international business opportunity, there are many masters and doctoral programs in green chemistry that can prepare them to be competitive in that job market.
The Bureau of Labor Statistics says environmental scientists will see a 25 percent job growth rate in the next few years, with salaries exceeding $94,670.