Mexico Green Chemicals Market Overview, 2029

A history of the emergence of the green chemicals market in Mexico could be understood within the larger context of the global tendency toward sustainability in the post-World War II period, where environmental awareness was growing vigorously toward the end of the 20th century. Initially, petrochemical processes dominated the chemical industry in Mexico; although seemingly cheap, these were very hazardous to the environment. Indeed, the passing moments of time ushered an early 2000s period where the government began pushing through for stricter environmental regulations influentially shaped by international agreements and growing awareness of the need to step into that development. However, the foundational piece was already in place from the moment when in 1988, the General Law on Ecological Balance and Environmental Protection was established. The Mexican green chemicals market, in a time-beaten way, has slowly shifted towards the greener alternative, as companies have eventually realized fiscal benefits associated with going green. Investments in research and development of bio-based chemicals increased gradually while trending towards greener alternatives. Sustainability initiatives have been found to be integral to the Mexican green chemicals market. The Mexican government has undertaken many initiatives aimed at reducing emissions of greenhouse gases and promoting renewable resources. Such programs in the National Strategy on Climate Change include measures that have predefined targets for the reduction of emissions along with growth in dependence on renewable sources of energy. Most companies in Mexico also transition towards sustainability with ESG standards globally. In most of these strategies, there are commitments to waste reduction, resource efficiency, and biodegradable materials. Innovation forms something of a cornerstone for the green chemicals market in Mexico, as recent advances in biotechnology and green chemistry continue being developed. As for new production methods based on renewable resources - be it agricultural byproducts or biomass - the houses of research have been working directly with companies. According to the research report "Mexico Green Chemicals Market Overview, 2029," published by Bonafide Research, the Mexico Green Chemicals market is anticipated to grow at more than 10% CAGR from 2024 to 2029.As consumer awareness with respect to environmental issues keeps growing, demand for green products continues to increase. Improvements in biotechnology and green chemistry allow for more efficient production processes and create bio-based alternatives. Mexican green chemicals market has some deterrents that are likely to restrict its growth. The infrastructure for large-scale production is still under development, so this in itself is another challenge that the companies face, in order to switch their gears and shift base to green chemicals. Moreover, there is a call for education and awareness with the consumers for green chemicals since market acceptance and demand alone depend on it. The Mexican market for green chemicals is full of opportunities for growth and innovation. The challenge that grows with the numbers of consumers preferring consumption based on sustainability will allow room for companies to come up with new, bio-based chemicals and eco-friendly materials. Here, the packaging industry will truly be one rich in innovative fields, especially considering the new regulations imposing bans on the use of single-use plastics and driving the entire shift toward biodegradable and compostable alternatives. Another key area for the bio-based fertilizers and pesticides is the agriculture sector since farmers demand environmentally friendly solutions that will yield higher crop production with minimal environmental degradation. Several associations and organizations also play critical roles in driving green chemicals development into the Mexican market. The most important role in the promotion of sustainability practice within the chemical sector is taken by the Mexican Chemical Industry Association, which campaigns for sustainable practices within the chemical sector. The National Council of Science and Technology is another organization that has been funding research projects in green chemistry.

The market include bio alcohols, bio organic acids, bio ketones, bio polymers, and bio solvents to support the two aspects of sustainability-economic growth and environmental. Bio Alcohols Bioalcohols form one of the biggest chapters of Mexican green chemistry. The most widely used bioalcohol produced is that from renewable sources-sugarcane and corn, to name a few. Cleaning up the transport sector through emissions of greenhouse gases, firms such as BioFields have been incorporated, with an emphasis on the bioethanol generated in sugarcane, looking at improving the local agriculture activities as well as the energy security for the nation. Bio Organic Acids are gaining much recognition these days due to their multifunctionality and widespread applications in different industries. In Mexico, for example, the group of the lactic acid and citric acid stands tall. Lactic acid is applied mainly in food preservations and biodegradable plastics, while citric acid is used for preservation and flavoring in food and beverages industries. Cemie-Bio is a centre that focuses on research into improving the production of this acid from renewable resources. Bio Ketones are on the rise as solvents and intermediates in chemistry. Their production from biomass is a more sustainable source of ketones instead of petro-based ketones. In Mexico, research institutions find out about how to synthesize bio ketones from residues from agriculture, and the article points out the value-added transformation for the environment. Bio Polymers find a large market in Mexico due to their biodegradable nature. PLA or polylactic acid is produced from renewable sources including corn starch, and finds usage in such applications as packaging, disposable goods among other things. Companies, like Braskem, invested in the production of the Bio-Polymers and focus on sustainability with the reduction of plastic waste. Bio-based solvents, being much less toxic compared to their traditional counterparts, are in high demand nowadays. Such solvents are used in paints and coatings and for cleaners. Mexican manufacturers are increasingly using bio-based solvents developed from agricultural feedstocks, as there is a current trend globally for less toxic chemical solutions. Apart from the above mentioned major categories, other product types in the form of biogas and specialty chemicals from the biomass source are also seeking their respective share in the growth of the Mexican green chemicals market. The green chemicals market in Mexico is proving to be on the move as industries consider sustainability and eco-friendly practices more and more. Growth in the green chemicals market in Mexico is not limited to packaging, healthcare, pharmaceuticals and personal care, construction, food and beverages, paints and coatings, and automotive. There is the emerging trend of market packaging towards sustainable materials. Companies such as Biofase, which make biodegradable utensils and straws from avocado pits, take the lead on this list. Here is another example of circular economy are reducing plastic waste while using agriculture byproducts. The medical industry is also embracing the principles of green chemistry in the manufacture of safer medicinal products. For example, Grupo Pochteca has been developing friendly solvents to be applied in pharmaceutical uses; with a focus on decreasing the toxicity without losing efficacy. This reflects the current worldwide trend towards safer health care solutions that supersede both patient and environmental health safety. This reflects the shift in the movement of brands in that industry, such as pharmaceuticals and personal care, products like Cuidado Con El Perro that reformulate their products to be free from harmful chemicals by making a commitment to natural through the involvement of sustainable sourcing principles. It appears this would bode well in light of the ever-growing concerns consumers have with their purchases and the environment.

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Manmayi Raval

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An embracing of green chemicals by the construction industry is low-VOC paints and sustainable building materials. The companies- in this case, Cemex- innovate by developing eco-friendly concrete solutions that incorporate recycled materials. That reduces carbon emissions coming from traditional construction practices. The food and beverages sector appears to see a trend moving forward toward sustainable packaging and organic ingredients. La Costeña uses compostable packaging for their product as consumers increasingly demand this kind of consumption to help promote local agriculture. The paints and coatings industry is also shifting, as companies like Comex create low-VOC paints to enhance the quality of the indoor environment. These products target the residential and commercial markets where improved living conditions are desired. In the car industry, the vehicle manufacturing companies are involving themselves more and more with bio-based materials in their auto units. For instance, Nissan Mexicana could recycle its plastics and also used it in the car interiors-an effort towards higher sustainability and better performance in the cars. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Green Chemicals market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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By Product Type • Bio Alcohols • Bio Organic Acids • Bio Ketones • Bio Polymers • Bio Solvents • Others Product Types By Applications • Packaging • Healthcare • Pharmaceuticals & Personal Care Products • Construction • Food & Beverages • Paints & Coatings • Automotive • Other Applications The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Green Chemicals industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.