Research shapshot: Green chemistry set to blow up
Green chemistry is set to become a $100 billion sector by 2020.
Led by companies as diverse as Nike and Columbia Forest Products and bolstered by university research, Oregon is at the forefront of the green chemistry movement. Just how big that movement is, was highlighted by a recent report by the cleantech analysts at Pike Research.
In green chemistry, a sprawling market covering household cleaning supplies to wood products to running shoes, Pike Research found an area ripe for growth. The chemical industry worldwide is valued at about $3 trillion, and the efficiencies provided by green chemistry advances — which eliminate waste and reduce ecological impacts — have the potential to provide billions in savings.
Pike pegs the green chemical industry’s worth at $11 billion in 2015 and nearly $100 billion by 2020.
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