Chemical Industry's Evolution Towards Sustainability and Green Chemistry
Key Ideas
- Indian chemical industry is embracing sustainability and circular economy practices to reduce environmental impact and enhance resource efficiency.
- Global chemical companies are committing to GHG emissions reduction targets and net-zero aspirations, driving the industry towards a cleaner future.
- The adoption of green hydrogen in chemical production is forecasted to reduce costs and enable decarbonization by 2030, marking a significant shift from fossil fuels.
- Innovations in biotechnology and collaboration across the value chain are key drivers for sustainability and circularity in the chemical sector, aiming for a greener ecosystem.
The Indian chemical industry is at a crucial juncture, focusing on sustainability and circular economy principles to mitigate its environmental impact. The sector is transitioning towards cleaner production techniques, resource optimization, and green technologies to address challenges like high energy consumption and waste generation. With global regulations emphasizing net-zero emissions, companies are investing in energy-efficient processes, waste management, and green technologies to align with sustainability goals. The market for green chemicals is growing, with Asia-Pacific leading the shift towards sustainable manufacturing. Green hydrogen is emerging as a vital component in decarbonizing chemical production, with cost reductions expected by 2030. While global chemical giants are committing to GHG reductions and net-zero targets, Indian companies are urged to accelerate their sustainability efforts. Collaboration, innovations in biotechnology, and circular economy practices are highlighted as essential for driving sustainability in the chemical industry and setting a benchmark for global ESG performance.
Topics
India
Innovation
Sustainability
Economic Growth
Emissions Reduction
Green Chemistry
Circularity
ESG Performance
Policy Shift
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