That the global chemical industry with a worth of $2 trillion has an enormous impact on economy, society and the environment, is undisputed. However, with regard to the nowadays unstable economic and political situation worldwide, an increasing rate of development in science and technology and higher customer demands, chemical companies have to struggle for competitive advantages.
A key factor for a company to maintain its market position and even enlarge it is successful innovation. Furthermore, the direction of innovation plays a major role for sustainable growth of a company.
Nowadays, the basis of innovation in chemical industry is defined by sustainability and environmental protection due to climate change, pollution and therefore stricter regulations.
But of course every manufacturing company, as most of the companies in chemical industry manufacture, searches for ways to produce more efficient, faster and cheaper.
So might there be a way to combine both desires and transform the chemical industry to be more sustainable and increase their economic benefit at the same time?
Even if one can hardly imagine, “green” chemistry is about to achieve both of these goals and leads to transformational changes in chemical industry due to “green” innovations in various chemical fields. Pike Research, a market research and consulting firm, predicts that “green chemistry represents a market opportunity that will grow from $2.8 billion in 2011 to $98.5 billion in 2020” and, which is also extremely promising for chemical companies, that green chemicals will save industry $65.5 billion by 2020.
Various chemical inventions and technological developments, for example in the expanding field of catalysis, set the basis for the production of new, less-hazardous and multifunctional chemicals, which is at the same time more efficient and environmentally friendly.
Hence, the impact on chemical industry through inventions in the field of green chemistry is obviously enormous. But how exactly do inventions in green chemistry, especially in the promising field of catalysis, affect innovation in chemical industry?
Therefore, to find an answer to this question, the field of green chemistry and its potential to foster innovation in chemical industry is going to be examined in this work.
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Inhaltsverzeichnis (Table of Contents)
- Introduction
- Review of Literature
- Innovation in chemical industry
- Green chemistry - the innovative state-of-the-art field in chemical industry
- Catalysis a driver for economic, social and environmental benefits
- Synthesis of Literature Review
- Example from case studies
- Elevance Renewable Sciences
- Monsanto Company
- Discussion of the Cases in the light of the Literature Synthesis
- Conclusions
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This work aims to investigate how inventions in the chemical industry lead to successful innovations that deliver economic, social, and environmental benefits. The focus is on green chemistry, particularly catalysis, as a key driver of innovation in the modern chemical industry.
- Innovation in the chemical industry and its impact on economic, social, and environmental aspects.
- Green chemistry as a sustainable approach to chemical manufacturing.
- The role of catalysis in driving innovation and sustainability in the chemical industry.
- Case studies of successful green chemistry innovations.
- The relationship between green chemical inventions and economically, socially, and environmentally beneficial innovations.
Zusammenfassung der Kapitel (Chapter Summaries)
Introduction: This chapter introduces the chemical industry's significant impact on the economy, society, and the environment. It highlights the need for innovation within the chemical industry to maintain competitiveness in a volatile global landscape and addresses the growing importance of sustainability and environmental protection in driving innovation. The chapter introduces the concept of "green" chemistry as a way to combine economic benefits with sustainable practices and sets the stage for the exploration of green chemistry's impact on innovation within the chemical sector.
Review of Literature: This chapter provides a comprehensive overview of existing literature on innovation within the chemical industry. It begins by examining various categories of innovation, including product and process innovations, and explores critical success factors for companies heavily reliant on R&D. The chapter then delves into the concept of green chemistry, detailing its principles and impact on companies, with a particular focus on sustainability marketing. Finally, it explores the crucial role of catalysis in driving both innovation and a shift towards greener chemical processes, laying the groundwork for subsequent case studies.
Synthesis of Literature Review: This chapter synthesizes the findings from the literature review, connecting the different aspects of innovation in the chemical industry. It develops a framework that illustrates the relationship between innovative green chemistry and chemical companies, clarifying the path from green chemical inventions to innovations with economic, social, and environmental benefits. This synthesis serves as a crucial bridge between the theoretical framework and the practical case studies presented in the following chapters.
Example from case studies: This chapter presents case studies of Elevance Renewable Sciences and the Monsanto Company. These companies were selected due to their success in transforming green catalytic inventions into sustainable innovations, recognized by the Presidential Green Chemistry Award. The detailed examination of these cases provides concrete examples of the principles and concepts explored in previous chapters, showcasing the practical application and real-world impact of green chemistry innovations.
Schlüsselwörter (Keywords)
Green chemistry, catalysis, innovation, chemical industry, sustainability, environmental protection, economic benefits, social benefits, case studies, Elevance Renewable Sciences, Monsanto Company, R&D, sustainability marketing, product innovation, process innovation.
Frequently Asked Questions: A Comprehensive Language Preview on Green Chemistry Innovations
What is the purpose of this document?
This document provides a comprehensive preview of a work investigating how inventions in the chemical industry lead to successful innovations delivering economic, social, and environmental benefits. It includes a table of contents, objectives and key themes, chapter summaries, and keywords.
What are the key themes explored in this work?
The key themes revolve around green chemistry, particularly catalysis, as a driver of innovation in the modern chemical industry. It explores innovation's impact on economic, social, and environmental aspects; green chemistry as a sustainable approach; the role of catalysis; case studies of successful green chemistry innovations; and the relationship between green chemical inventions and beneficial innovations.
What topics are covered in the literature review?
The literature review covers innovation in the chemical industry, focusing on product and process innovations and success factors for R&D-heavy companies. It delves into green chemistry principles and their impact on companies, including sustainability marketing, and explores catalysis's role in driving innovation and greener processes.
What case studies are included?
The document features case studies of Elevance Renewable Sciences and Monsanto Company, both recognized for their success in transforming green catalytic inventions into sustainable innovations, as evidenced by the Presidential Green Chemistry Award.
How does the document synthesize the information?
The document synthesizes the literature review findings, creating a framework illustrating the relationship between innovative green chemistry and chemical companies. This framework clarifies the path from green chemical inventions to innovations with economic, social, and environmental benefits, bridging the theoretical framework and the practical case studies.
What are the chapter summaries?
The chapter summaries provide concise overviews of each chapter's content. The introduction sets the stage by highlighting the chemical industry's impact and the growing importance of sustainability. The literature review examines various aspects of innovation and green chemistry. The synthesis chapter connects these aspects, building a framework. The case studies chapter provides detailed analysis of Elevance and Monsanto. The conclusion (not detailed in the preview) would summarize the findings.
What are the key words associated with this work?
Keywords include: Green chemistry, catalysis, innovation, chemical industry, sustainability, environmental protection, economic benefits, social benefits, case studies, Elevance Renewable Sciences, Monsanto Company, R&D, sustainability marketing, product innovation, and process innovation.
What is the overall objective of the research?
The overall objective is to investigate how inventions in the chemical industry result in successful innovations that provide economic, social, and environmental benefits, focusing on green chemistry and catalysis.
- Quote paper
- Anonym (Author), 2017, Green Chemistry. Innovation in the Chemical Industry, Munich, GRIN Verlag, https://www.grin.com/document/369630
