New GC3 Report: Significant Market Growth in
Green Chemistry Products
Today, the GC3 released a new report documenting significant growth in green chemistry marketed products, both sales and consumer demand. The report was developed in partnership with NYU Stern Center for Sustainable Business, North Carolina State University, the Dynamic Sustainability Lab at Syracuse University, and Duke University
The analysis shows an unprecedented rise in sales and consumer demand, with green chemistry products’ share in the market rising from 10.1% to 14.3% between 2015 and 2019 compared to products without green chemistry marketing. Sales even continued their climb through the coronavirus pandemic, despite expectations of turbulence. This points to a sustained rise in customer demand for green chemistry products, and the habits of younger consumers promise a sustained rise beyond 2021.
The analysis also found green chemistry products delivered 62% of market growth, 12.6 times faster than their conventional counterparts. In 8 out of 10 categories, growth in green chemistry product sales outpaced the growth of their respective categories. And not only are consumers driving growth, but government policies like the European Commission’s Chemicals Strategy for Sustainability and investor expectations are pushing green chemistry forward as well. Some 84% of business leaders surveyed for the report say they’ve increased their investment in green chemistry research and development, with 98% anticipating a further rise in investment over the next five years.
GC3 member organizations were instrumental in providing expert insight for the analysis, and the report included case studies from Apple, Beautycounter, Cargill, Checkerspot, Lowe’s Companies, Nike, Seventh Generation, and VF Corporation.
The sector’s growth points to a potential boon of job creation and economic growth: the analysis shows that one job created in the green chemistry industry, on average, creates 8 additional jobs, and for every dollar of value-added created, over 6 dollars of value-added are created throughout the US economy.
See the executive summary or full report to learn more. Please contact Joel Tickner for additional information.
GC3 Board Approves New Member Code of Conduct
Recently, the GC3 Board of Directors, after consultation with the Member Advisory Committee, finalized a new GC3 member Code of Conduct, which more clearly articulates the expectations for all members participating in the GC3. The organization has always asked members joining the GC3 to informally agree to the vision of the GC3 and to work toward advancing the 12 Principles of Green Chemistry. As we implement our new strategy to drive commercialization and scale, the GC3’s new member Code of Conduct (and parallel Board member Code of Conduct) is designed to align the full membership in support of faster development of safer, more sustainable chemistries.
Commercializing innovative chemistry solutions is by its nature a disruptive market process that can result in replacement of—and/or improvement on—existing chemistries that may be manufactured by GC3 member companies. As our new strategy is implemented, and we focus on specific functions, chemicals or classes identified by members as priorities for innovation and substitution, our efforts will increasingly disrupt the market for incumbent chemicals. We want to be fully transparent about this and this new member Code of Conduct is designed to articulate expectations around GC3 membership in that context. In setting priorities for its projects, the GC3 seeks input from its members, scientists, government authorities, and others to develop its priorities for innovation and commercialization.
The full document is here, but below are some key highlights. When GC3 members join or renew their membership, they will be asked to commit to:
- help advance the GC3 vision and mission, encouraging development and commercialization of innovative green and sustainable chemistry solutions
- support the projects prioritized by the GC3 Management and Board to advance the GC3 mission, including functions, chemicals, and/or classes identified as priority areas for innovation
- not use their membership to discourage innovation or member initiatives around specific chemicals and/or classes nor use their membership as an opportunity to defend incumbent chemicals and/or classes
If you have any questions about the approach or intent of this new Code of Conduct, please don’t hesitate to reach out to Joel Tickner, GC3 Executive Director or Jason Pearson, GC3 Governance Committee.
GC3 Member Event: Speed Scouting
Using a virtual fast-paced format, the GC3 Speed Scouting event on Wednesday, December 1 from 10:00-11:30 AM ET is designed to help GC3 members learn about recent advances in new products, markets, scale-up, and commercialization from GC3 startups. The GC3 Speed Scouting event will acquaint members with the recent developments of GC3 startups, some of which are brand new to the GC3. There will also be an opportunity to (re)meet with startups of your choice, ask questions, and create new relationships. If you are a startup company and are interested in presenting, please contact Julie Manley.
New to the GC3: Curie Co. and Sweetwater Energy
Existing GC3 Startups: Kalion, mobius, Paxymer, Performance BioFilaments, Pyran, and Sironix Renewables
Registration is open, please register in advance for this meeting.
GC3 Commercialization Hub Pilot Project:
Indication of Interest Due by Dec. 3rd
Indications of interest are due December 3 for the GC3’s pilot project on commercializing new product preservation solutions. The pilot will use a proven model of matching new technology providers with potential downstream partners and investors (a "shark tank" model). Suppliers of new and existing preservation solutions that meet GC3 criteria will pitch their technologies to a group of interested downstream partners (e.g., brands, formulators, retailers, investors) to determine if there is a strong connection between the technology and the downstream needs. This new process will primarily focus on technologies that have moved beyond the initial ideation and prototyping stages to those further along in the commercialization process- yet needing additional in-kind, financial, or other support or clear demand alignment to drive them through to final market launch and scale. To learn more and apply to participate, click here. This opportunity is open to GC3 members and non-members.