The global green chemistry market is expected to become $ 98.5 billion by 2020, presenting huge opportunities for Indian companies using green principles to produce chemicals
Global manufacturing industry is witnessing a change which is fast and universal. In fact, many believe that we are already witnessing the third wave of industrial revolution in which Internet-based communication technology is converging with renewable resources. Just like during first and second industrial revolutions, chemistry is again expected to play a pivotal role in ushering third industrial revolution, as the world makes a transition from the fossil-age to the renewable-based economy.
“The third industrial revolution is already taking place in front of us; indeed we are living historical moments today. Additionally, the third industrial revolution is all about ‘green’ and ‘sustainable’ chemistry. Green chemistry is all about our license to operate, while sustainable chemistry is all about to become the new leaders of the future. No industry, or company will be able to operate without a clear mastering of the key principles of green chemistry,” saidRafael Cayuela of STYRON Europe, and Author of the book, ‘Future of chemical industry by 2050’, who was in Mumbai in December last year to attend the Industrial Green Chemistry Workshop (IGCW).