Research and development in energy conversion and storage are becoming increasingly important due to the increasing energy demand for economic and social development and it is fast becoming one of the principal challenges facing the energy sector Energy storage can be defined as simply storing energy generated during periods of low demand to use during periods of high demand. The market for energy storage is expected to grow at a CAGR of approximately 24.38% during the forecast period of 2020 – 2025. In an attempt to make the power industry more effective, a new trend in electric power production has witnessed intense development during the recent past years.
As there is enormous release of co2 in the world by means of pollutions and harmful gases an effective use of these gases should be done .The emphasis is on the dissemination of leading-edge research from basic science to the development of new processes, technologies and applications. This includes CO2 as a feedstock in the chemical, energy and materials sectors, and utilization in general to help minimize environmental impact.
This statistic displays the market size of the sustainable or green chemistry industry worldwide in 2015, with forecasted figures for 2016 to 2020. The global renewable chemicals market size in 2015 was some 51.7 billion U.S. dollars, and it is forecasted that by 2020 it will be some 85.6 billion U.S. dollars.
Waste utilisation and Re-use involves the collection of used and discarded materials processing these materials and making them into new products. It reduces the amount of waste that is thrown into the community dustbins thereby making the environment cleaner and the air fresher to breathe. The global waste management market size is expected to reach $530.0 billion by 2025 from $330.6 billion in 2017, growing at a CAGR of 6.0% from 2018 to 2025. Waste management is the process of treating solid wastes, and involves different solutions to recycle items.
Green catalysts are the catalysts which are eco-friendly , can be regenerated hence reused multiple times and thus minimise waste production during process. The phase transfer catalyst market is projected to grow from USD 960 million in 2018 to USD 1,232 million by 2023, at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period from 2018 to 2023
Advances in artificial intelligence (AI) could be one of the solutions to solving major global environmental crises--from climate change to animal endangerment to disease containment--as projects in each of these areas are already underway. Business decision-makers working in environmental sustainability are optimistic about the power of AI, according to a 2018 report from Intel: 74% of the 200 professionals in this field surveyed agreed that AI will help solve long-standing environmental challenges. However, several challenges prevent AI from being the answer to all of our environmental problems. Top barriers to doing so included cost (33%) and regulatory approval (17%), the report found.
The concept of sustainable building incorporates and integrates a variety of strategies during the design, construction and operation of building projects. The use of green building materials and products represents one important strategy in the design of a building.Green building materials are composed of renewable, rather than nonrenewable resources. Green materials are environmentally responsible because impacts are considered over the life of the product (Spiegel and Meadows, 1999). Depending upon project-specific goals, an assessment of green materials may involve an evaluation of one or more of the criteria listed below.
Green analytical chemistry is described as the ‘use of analytical chemistry techniques and methodologies that reduce or eliminate solvents, reagents, preservatives, and other chemicals that are hazardous to human health or the environment. According to the report, global renewable chemical market was valued at over USD 49.22 billion in 2016, is expected to reach above USD 102.76 billion in 2022 and is anticipated to grow at a CAGR of slightly above 11.29% between 2017 and 2022.
Sustainable chemistry is a scientific concept that seeks to improve the efficiency with which natural resources are used to meet human needs for chemical products and services. Global green chemicals market size will grow by almost USD 50 billion during 2019-2023, at a CAGR close to 10%. In the last few years, toxic chemicals have been facing bans due to the generation of hazardous chemicals.
You can see how designing chemicals to break down can be very challenging, but many researchers around the world are working on this right now. Some examples are biodegradable polymers that are used in plastics, like compostable cutlery. The 10th principle is currently one of the largest challenges in green chemistry. If scientist designing new chemicals understand more about the mechanisms that can degrade them, we may be able to make chemicals that are reliable and stable during their intended use, but break down in the environment. The scope of designing chemicals and products which degrades automatically in environment is increasing at 35%AGR by 2025. As the pollution and increase in plastic usage.