Group sees $46.6bn market for alternative chems

07 July 2008 16:03  [Source: ICIS news]

HOUSTON (ICIS news)--The US alternative chemicals market in 2008 will be worth some $46.6bn (€29.8bn) in 2008, growing at a compound annual growth rate of 15.3% to $94.8bn in 2013, according to a study by BCC research announced on Monday.

“Along with the public’s demand for greener products, manufacturers’ needs for cost-effective processing, cheaper feedstocks, and new product avenues have become major market drivers for the commercialization of alternative chemical products,” the group said in a statement.

The market is broken down by end-use alternative chemical products and includes plastics, packaging, cleaning and detergent products, miscellaneous specialty chemicals and other chemical products.

Miscellaneous specialty chemicals have the largest share of the US market and are expected to be worth $17.3bn in 2008 and $35.5bn in 2013, BCC said.

Cleaning and detergent products have the second largest share of the domestic market, estimated to be worth $10.0bn in 2008 and $19.1bn in 2013, the group said.

Packaging is the fastest growing segment and is expected to increase from $4.4bn in 2008 to $13.0bn in 2013, according to the researchers.

The plastics and other chemical products segments also are expected to see robust growth, the group said.

Plastics should increase from an estimated $5.5bn in 2008 to $11.1bn in 2013. The production of other chemical products is expected to generate $9.4bn in 2008 and $16.1bn in 2013, BCC research said.

($1 = €0.64)

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By: John Waggoner
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