Australia Green Chemicals Market Overview, 2029

The Australian green chemicals market was born at the turn of the late 20th century, as the rest of the world began to feel the pangs of growing environmental awareness. Its first achievements were related to waste reduction and recycling, which eventually served as a basis for understanding the necessity of sustainable production. Probably the most important milestone was the policy of the government towards renewable energy and friendly solutions that began to be implemented in the early 2000s. These policies catalyzed green chemicals, setting Australia on its way to a more sustainable economy by promoting innovation and investment in bio-based alternatives. Innovation in biotechnology has dramatically made a difference in producing biofuels and bioplastics. The technology of fermentation and enzymes was applied in order to optimize yields. Process engineering has also scaled up the production of green chemicals to an easily more feasible and economic level. Waste-to-energy technologies are becoming popular where the waste material is converted into some other value-added product, thus supporting the circular economy. The support and funding from the Australian Renewable Energy Agency have helped a lot of growth in bioenergy and green chemicals. One of the most significant companies involved in private sector investment in developing green chemicals is BioAmber, as well as many startups that are investing in research and development. A lot of leading associations and organizations play a pivotal role in advancing the Australian green chemicals market. The Australian Renewable Energy Agency (ARENA) is very important in terms of its funding and support of renewable energy projects, including some activities focused on green chemicals. Bioenergy Australia is another very important industry association which, among other things, speaks out for the development of bioenergy and policies supportive of bio-based products. Among other bodies, the Clean Energy Council is a very important one representing the clean energy industry in Australia and taking action to assist initiatives related to renewable energy and green technologies. Together, these organizations play a vital role in deciding the green chemicals landscape and creating a sustainable future. Several events reflect the developments and opportunities within Australia's green chemicals market. The Bioenergy Australia Conference is an annual event for all stakeholders within the bioenergy and the green chemicals industries, forming much-needed discussions concerning current developments and challenges. Renewable technologies are also promoted through the discussion at the Sustainable Food Summit on how to produce sustainable food by incorporating bio-based materials. The Royal Australian Chemical Institute (RACI) is the premier professional organization for the chemist in Australia. It fosters the advancement of the practice and profession of chemistry. RACI offers resources to members for networking and professional development.

According to the research report "Australia Green Chemicals Market Overview, 2029," published by Bonafide Research, the Australia Green Chemicals market is anticipated to grow at more than 11% CAGR from 2024 to 2029. The green chemicals have a potential economic impact for the Australian economy, as it creates jobs and develops investment opportunities. The growing sector helps in employment-generating research, production, and distribution levels, which will eventually help Australia shift toward a low-carbon economy. Increasing investment in green chemicals helps pump the economy since firms are interested in innovation and delivering product lines that are more sustainable. Furthermore, the export potential of the bio-based products positions Australia as a global player and further builds on diversification and a good economic resilience in a rapidly changing globe. Great growth prospects characterize the green chemicals market, driven by consumer demands on sustainability and also supportive government policies. Other sectors such as packaging, agricultural, and personal care have high prospects for shifting towards sustainable practice that also boosts the growth of the green chemicals market. There are significant opportunities for innovation and growth in Australia in the market of green chemicals. There is huge scope for innovation of new bio-based products, especially in fields like construction and automobiles, where there is a growing demand for sustainable material. An increase in investment in R&D is most likely to produce breakthroughs in biotechnology and process optimization, further enhancing production efficiency. In agriculture also, bio-based fertilizers and pesticides have been developed as a part of efforts toward sustainable agriculture. It will not only support the achievement of environmental goals but also fill consumers' increasing demand for goods that are tied to ecological values. The best and brightest of the Australian chemistry industry have been recognised at the second annual Chemistry Australia Industry Awards, held at the Grand Hyatt in Melbourne on Wednesday 1 May. Australia is witnessing a rapidly rising demand for green chemicals in the market due to the growth of environmental awareness and as an outcome of government plans put forward for sustainable utilization. The important segments incorporated into this market include bio alcohols, bio organic acids, bio ketones, bio polymers, and bio solvents, and all these are moving in tandem toward a commitment from the country towards sustainability. Bio Alcohols were one of the most critical parts of the green chemicals scenario prevailing in the country. Some 60 million litres of bioethanol are produced annually, again largely from the molasses by-product of sugar production, and amongst the biggest producers of bioethanol are the firms that provide the bioethanol for E10 and E85 fuel blends sold by Wilmar Sugar. This sector is supported by the government of Australia through mandates given to New South Wales and Queensland, encouraging the blending of ethanol with petrol to reduce dependence on imported fuels as well as its greenhouse gas emissions. In Australia, these organic acids are increasingly in use due to their high applicability in many areas. Lactic acid and citric acid are primarily produced by fermentations from renewable feedstocks. Companies in Australia are developing these acids for use as food preservatives and biodegradable plastics. Research centres are also exploring new alternative methods of producing these acids to achieve higher productivity and sustainability. Bio ketones are emerging as important intermediates in chemical synthesis within the evolving Australian green chemicals sector. Efforts are also on to produce bio ketones from agricultural residues and other biomass sources. This thus directly aligns with national goals to promote circular economy practices and minimize environmental impact. Bio Polymers Bio Polymers are very rapidly being adopted as they are bio-degradable. Polylactic acid (PLA) is widely used in packing and in consumer products. Nowadays, companies are very actively investing in biopolymer production. EcoCocoon, for instance, is heavily investing in the production of biopolymer to cater to the growing demand for sustainable packaging solutions. The government of Australia further encourages the use of the biodegradable materials to reduce the wasted plastics in the country with various initiatives. Bio Solvents have lower toxicity than traditional solvents and are in demand for applications in a wide range of products from paints, coatings, cleaning goods, and many more. The Australian manufacturers are expanding the bio-based solvents from agricultural feedstocks in line with global movements towards safer chemical solutions. Australian green chemicals are fast becoming more prominent in the sectors, which pin a lot of emphasis on sustainability and environmentally friendly initiatives. The various applications it has cover packaging, healthcare, pharmaceuticals and personal care products, construction, food and beverages, paints and coatings, automotive, and many others. Within the case of packaging, Australian manufacturers are becoming to view sustainable materials as a must to address plastic waste in packaging industries. For instance, compostable bags and packaging from renewable resources like corn starch and vegetable oils form part of the present innovations in BioBag World Australia that also minimize environmental impact while being inexpensive compared to traditional plastic packaging. One such policy is the adoption of packaging by the Australian government; it encourages green packaging, especially through the National Packaging Targets, which aim to make all new packaging reusable, recyclable, or compostable by 2025. The healthcare industry in Australia is now using green chemistry in the production of safer medical products. Biodegradable, eco-friendly gloves are developed by one of the world's leading producers of personal protective equipment, Ansell. This reduces waste associated with such products and is in tandem with the aim of the country to continue its process towards sustainable healthcare practices and reduction of medical waste on the environment. Businesses are reformulating their product lines to eliminate chemicals that are now proven to be harmful, and this is precisely what is happening within the pharmaceutical and personal care industries. Jurlique is a natural skincare brand known to follow organic and biodynamic principles while using organic and biodynamic ingredients in producing its line of products to meet increasing demands for transparency and sustainability. The construction industry goes green by embracing low-VOC paints and green building materials. Dulux, which is one of the world's biggest paint companies, unveiled 'breathe easy' eco-friendly coating solutions that do not adversely alter indoor air quality while meeting ultra-high environmental standards. Recycled content also forms a big component in the use of recycled materials in construction projects, another way Australia is living up to its sustainability commitments. It is in the food and beverage sector in Australia that companies are embracing organic content in packaging and raw materials, which have seen flagship beverage companies like Coca-Cola Amatil introduce a plant-based bottle of sugarcane for self-confidence on sustainable stewardship while targeting health-conscious consumers. Haymes Paint is also developing low VOC products in the paints and coatings industry. Such products targeted both residential and commercial markets that wanted healthier environments. In the automobile world, more and more bio-based materials are being applied to vehicle production by car makers across Australia. Ford Australia made automobile interiors from recycled plastic bottles because doing so shows commitment to sustainability and the improvement of vehicle performance. 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

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.