“Shift Towards Sustainability and Eco-Friendly Chemicals”
- The shift towards sustainability is gaining momentum in the chemical market, with companies focusing on eco-friendly solutions such as biodegradable plastics and non-toxic solvents
- For instance, BASF developed "ecovio," a biodegradable plastic used in packaging, addressing concerns about plastic waste
- Many companies are turning to renewable raw materials to reduce their reliance on fossil fuels, such as the use of plant-based feedstocks for producing chemicals. In collaboration with NatureWorks, Cargill is producing Ingeo, a bio-based plastic made from renewable plant materials
- Water-based products are becoming increasingly popular in industries such as coatings and paints to reduce harmful emissions. AkzoNobel has introduced water-based paints to replace traditional oil-based formulations, significantly reducing volatile organic compound emissions
- Stricter environmental regulations are encouraging chemical companies to develop greener alternatives, such as sustainable solvents and energy-efficient production methods. The European Union’s REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) regulation is pushing companies to reduce harmful chemical substances in their products
- The circular economy model is being embraced by the chemical industry, with companies focusing on reducing waste and reusing materials. Dow Chemical’s collaboration with the recycling firm, Plastic Energy, is aimed at turning plastic waste into high-quality feedstock for new plastic production
