Is Sustainability & Green Chemistry Really The Future Of The Chemical Industry?
The talks around eco-friendliness and sustainability have been around for decades, but it got real in 2020 when the U.S. installed the world clock. For the same reason, green chemistry has become a buzzword, and it’s likely to hit $100 billion globally. In particular, North America will experience growth from $3 billion to up to $20 billion within the same period. The growth is accredited to people thinking about the future of the planet, and it’s an absolute sign that the chemical industry requires a change.
To provide more information, around 8% of deaths and 6% of global deaths are caused by climate change and chemical exposure. For this reason, sustainable chemistry is the next big thing, and the industry is already ensuring that new chemicals and already developed chemicals are made more eco-friendly. Honestly, the pressure keeps rising because green chemicals are new, but companies don’t have an idea about promoting sustainable chemistry.
What Does The Chemical Industry Say?
Given the constant pressure, Elsevier has already hosted the Green & Sustainable Chemistry Conference, with which the leading chemical companies discussed being green and what sustainability means for their company. In addition, they discussed how the entire chemical industry could promote sustainability as a whole and ways of raising awareness. To conclude, they devised ways to improve sustainable chemistry and welcome new innovations. In the section below, we are sharing the five areas that were set to create a more sustainable outlook, including;
- First was the anticipation of problems that must be solved. To illustrate, it was discussed how the chemical industry could align with the sustainable development goals set by the UN. For this purpose, regulatory changes must be made because chemistry plays a crucial role in rounding up sustainability
- Green chemistry will not only justify the adverse impacts of other aspects of chemistry. On the other hand, it needs to focus on building innovation in the chemical industry
- Sustainability focuses on how the users are experiencing different products and what can be done to dispose and recycle them. The chemical industry must determine how products work since customers are crucial for driving growth
- The chemical industry needs to include the general circular economy into the chemical product lifestyle. This is because innovation needs to work on a collaborative basis to develop sustainable chemical products. In addition, it can be achieved by promoting improved chemistry with the help of advanced material technology
- The public must be informed, and they must be demonstrated about sustainable and green chemistry. This is because the public must understand why a certain product is more eco-friendly as compared to regular products, and what it means for the customers
Green Chemicals – What Are These?
When it comes down to sustainability and green chemistry, it’s needless to say green chemicals are also crucial to the industry, at least right now. To illustrate, green chemicals are defined as chemicals that promise higher performance standards and functionality while being eco-friendly. In fact, green chemicals are environment-friendly throughout the product life cycle. As far as development is concerned, there is a framework available for designing and innovating the chemicals.
With green chemicals, the chemical companies can create value for their customers and the environment. To begin with, new chemicals and materials are being invented and developed to improve the chemical products and enhance the processes. In addition, it involves the development of advanced syntheses that are more effective and efficient in achieving sustainability goals.
On top of everything, some chemical companies work with clients to create a premium formulation that isn’t only effective but healthy as well. With the help of green chemistry and chemicals, they can develop chemicals by deploying renewable resources and bio bases. The best thing about green chemistry is that all these benefits are yielded while reducing operational costs. In addition, the companies will be able to align with the regulatory requirements and reduce the need for capital for VOC and labeling.
The Bottom Line
The bottom line is that green chemistry and green chemicals are gradually becoming the future of the chemical industry. It’s crucial because the chemical industry is most prevalent among other industries that make up the economy.