Green and Bio Solvents Market Growth By Regional Analysis (America, Europe, Asia Pacific, and Middle East & Africa) Growth Opportunity and Industry Forecast 2023-2030 (Financial Impact Analysis)
ID : MRU_
115226 | Date :
Feb, 2023 | Pages :
168 | Region : Global |
Publisher : Ri research
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 report offers detailed coverage of Green and Bio Solvents industry and main market trends. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading Green and Bio Solvents by geography. The report splits the market size, by volume and value, on the basis of application type and geography.
The report forecast global Green and Bio Solvents market to grow to reach xxx Million USD in 2023 with a CAGR of xx% during the period 2023-2030.
First, this report covers the present status and the future prospects of the global Green and Bio Solvents market for 2018-2030.
And in this report, we analyze global market from 5 geographies: Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia], Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland], North America[United States, Canada, Mexico], Middle East & Africa[GCC, North Africa, South Africa], South America[Brazil, Argentina, Columbia, Chile, Peru].
Key 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
At the same time, we classify Green and Bio Solvents according to the type, application by geography. More importantly, the report includes major countries market based on the type and application.
Market Segment as follows: Market by Order Type
Bioalcohols
Bio-Glycols&Diols
Lactate Esters
D-Limonene
Methyl Soyate Market by Application
Industrial & Domestic Cleaners
Paints & Coatings
Adhesives
Pharmaceuticals
Cosmetics
By Region
Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia]
Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
North America[United States, Canada, Mexico]
Middle East & Africa[GCC, North Africa, South Africa]
South America[Brazil, Argentina, Columbia, Chile, Peru]
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?
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