Green and Bio Solvents Market Size By Application, Industry Analysis Reports, Regional Outlook (North America, Europe, Asia Pacific, Middle East & Africa, And South America), Growth Potential, Price Trends, Competitive Market Shares & Forecast 2023 - 2030
Green & bio-based solvents are characterized by low toxicity, low miscibility, higher boiling point, less odor, and easy recycling process. Thus, green & bio-based solvents are eco-friendly. These properties or inherent advantages makes them suitable for usage in various applications.
Industrial solvents are used as component ingredients in formulated products or as processing aids in manufacturing. Demand will grow modestly but the mix of solvents will continue to change dramatically under environmental and regulatory pressure designed to reduce emissions of ODS (Ozone Depleting Substances), VOCs (Volatile Organic Compounds) and HAPs (Hazardous Air Pollutants). Environmentally friendly \"green solvents\" and conventional solvents that are regulation exempt to replace conventional hydrocarbon and chlorinated solvents.
North America is the biggest producer and consumer of bio solvents, the production accounted for 33.78% of global production in 2015, followed by Europe, accounted for 26.62%. Asia Pacific is expected to witness the highest growth rate over the forecast period. The region is expected to grow at an estimated CAGR of 10.3% from 2015 to 2022. Growth of major end-use industries particularly in China and India is expected to drive the regional market.
The raw materials of bio solvents are mainly corn and vegetable oils. The bio solvents market offers immense opportunities countries such as USA, India, and China, as these regions have high petroleum prices and a large number of diesel and gasoline fueled vehicles.
On the basis of application, bio solvents market is segmented as paints & coatings, adhesives & sealants, and printing inks among other niche applications such as pharmaceuticals and cosmetics. Increasing construction spending in emerging markets such as Brazil, China, India and Mexico on account of rapid industrialization and urbanization rates is expected to remain a key driving factor for this segment. The shift in trends towards using eco-friendly paints coupled with growing construction industry is expected to drive bio solvents demand.
Global bio solvents market is concentrated with top five companies accounting for more than 50% of the market share in 2015. Major companies operating in the global market include Archer Daniels Midland Company, BASF SE, Bioamber Inc, Huntsman Corporation, E.I. Dupont De Nemours & Co, The DOW Chemical Company, Vertec Biosolvents Inc, Florida Chemicals Company Inc, Cargill Inc, Galactic, LyondellBasell and Solvay.
The Global Green and Bio Solvents Market was valued at xxx million USD with a CAGR xx% from 2018-2022. Subsequently, it will touch xxx million USD in 2023 with a CAGR xx % from 2023 - 2030.
In the global Green and Bio Solvents Market, This report focuses particularly in North America, South America, Europe and Asia-Pacific, and Middle East and Africa. This report classifies the Market on the basis of application, type, regions, and manufactures.
In Market segmentation by manufacturers, the report covers the following companies-
Archer Daniels Midland Company
BASF SE
Bioamber Inc
Huntsman Corporation
E.I. Dupont De Nemours & Co.
The DOW Chemical Company
Vertec Biosolvents Inc
Florida Chemicals Company Inc
Cargill Inc
Galactic
LyondellBasell
Gevo
Pinova Holding INC
Myriant
Solvay
In Market segmentation by geographical regions, the report has analysed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
In Market segmentation by types :
Bioalcohols
Bio-Glycols&Diols
Lactate Esters
D-Limonene
Methyl Soyate
In Market segmentation by applications :
Industrial & Domestic Cleaners
Paints & Coatings
Adhesives
Pharmaceuticals
Cosmetics
The research provides answers to the following key questions:
• What is the estimated growth rate and Market share and size of the Green and Bio Solvents Market for the forecast period 2023 - 2030?
• What are the driving forces in the Green and Bio Solvents Market for the forecast period 2023 - 2030?
• Who are the prominent Market players and how have they gained a competitive edge over other competitors?
• What are the Market trends influencing the progress of the Green and Bio Solvents industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the Market hold for the prominent Market players?
Any special requirements about this report, please let us know and we can provide custom report.
Note – In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.
Research Methodology
The Market Research Update offers technology-driven solutions and its full integration in the research process to be skilled at every step. We use diverse assets to produce the best results for our clients. The success of a research project is completely reliant on the research process adopted by the company. Market Research Update assists its clients to recognize opportunities by examining the global market and offering economic insights. We are proud of our extensive coverage that encompasses the understanding of numerous major industry domains.
Market Research Update provide consistency in our research report, also we provide on the part of the analysis of forecast across a gamut of coverage geographies and coverage. The research teams carry out primary and secondary research to implement and design the data collection procedure. The research team then analyzes data about the latest trends and major issues in reference to each industry and country. This helps to determine the anticipated market-related procedures in the future. The company offers technology-driven solutions and its full incorporation in the research method to be skilled at each step.
The Company's Research Process Has the Following Advantages:
- Information Procurement
The step comprises the procurement of market-related information or data via different methodologies & sources.
- Information Investigation
This step comprises the mapping and investigation of all the information procured from the earlier step. It also includes the analysis of data differences observed across numerous data sources.
- Highly Authentic Source
We offer highly authentic information from numerous sources. To fulfills the client’s requirement.
- Market Formulation
This step entails the placement of data points at suitable market spaces in an effort to assume possible conclusions. Analyst viewpoint and subject matter specialist based examining the form of market sizing also plays an essential role in this step.
- Validation & Publishing of Information
Validation is a significant step in the procedure. Validation via an intricately designed procedure assists us to conclude data-points to be used for final calculations.