|Growing Demand for Green Products/Materials Offers Opportunities|
Growing Demand for Green Products/Materials Offers Opportunities
According to a recent report McKinsey survey, 80% of industry executives in product value chains believe that “green” is not a passing fad, but a growing trend in their respective industries. Products or materials often identified as green include those that are recyclable, biodegradable, or bio-based and those that have a low carbon footprint, are made from recycled material, or have low toxicity. More than half of the executives in the survey attached greater significance to materials that can be recycled (32%) or have low toxicity (28%). Executives in the survey estimate that almost one in three customers in the consumer-packaged-goods industry is significantly attached to green products. Based on what these executives are seeing, buyers of high-quality and “in-vogue” products are even more likely to respond to the green message, and are willing to pay a premium for green products of equal quality. The report concluded that this growing demand for green materials and products presents a significant opportunity for numerous industries, including the chemical/petrochemical sector.
- According to Google, the energy it takes to conduct 100 searches on its site is equivalent to a 60-watt light bulb burning for 28 minutes. (pcmag.com)
- With 104 operating reactors, the United States produces more electricity with nuclear power than any of the 30 countries with that capability. (Forbes.com)
- 30% of energy used in buildings is used either inefficiently or unnecessarily. (SEMCO Sustainable Energy Management)
- China is the world’s second largest oil consumer behind the United States, and the largest global energy consumer, according to the International Energy Agency. (IEA)