World Green/Bio-Based Solvents Market - Opportunities and Forecast, 2014-2020

  • ID: 3493692
  • Report
  • Region: Global
  • 136 pages
  • Allied Analytics LLP
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Green/Bio-Based Solvents Market is Expected to Reach $13 billion, Globally by 2020

FEATURED COMPANIES

  • BASF SE
  • Bio-Amber Inc.
  • Cargill Incorporated
  • Dow Chemicals
  • Florida Chemicals Inc.
  • Gevo Inc.
  • MORE
Green solvents are derived from the agricultural sources, such as corn, sugarcane, lactic acid, refined glycerin, bio succinic acid, soybean oil and similar others. Eco-friendly nature and low volatile organic compound (VOC) content emission than conventional petroleum based solvent were the prime reason for manufacturers to shift towards green solvent. In 2014, the market for green solvents stood at 2,600 kilotons and is expected to grow at a CAGR of 4.3% during 2015-2020. Volatility in the crude oil prices, hazardous environmental effects of volatile organic compounds and increasing adoption of green solvents in the end user industries such as paints and coating, printing inks and similar others are the key factors driving the growth of global green solvents market. However, its high production cost hampers the market growth to certain extent.

Green solvents are consumed across wide range of industries such as paints & coatings, printing inks, adhesives & sealants and industrial & domestic cleaning among others. Paints and coatings application segment would continue to lead the global green solvents market throughout the forecast period. Increasing environmental concerns in conjunction with rising consumer awareness towards eco-friendly products fuels the adoption of green solvent in paints and coating industry. Furthermore, the pace of consumption of green solvents in industrial & domestic cleaning industry will be highest during the forecast period. This is due to increasing concern of health and hygiene among household consumers’ and institutional workers.

Green solvents market has been segmented by type as esters, alcohols, diols & glycols, D-limonene and others. Furthermore, esters are segmented into lactate esters, methyl esters & others and alcohols, diols & glycols are segmented into solketal, isobutanol and others. The consumption of esters in the overall green solvents market will be highest during 2014-2020 due to its wide application area, comparatively lower price than other green solvents and easy availability. In terms of geography, the market has been segmented into North America, Europe, and Asia Pacific & LAMEA. North America would continue to dominate the market through 2020, due to intense awareness among the consumers for the adoption of green solvents and robust improvement in the U.S. & Mexican construction industry. However, Asia Pacific will be the fastest growing market and is expected to grow at a CAGR of 6.2% during 2015-2020.

Competitive Intelligence on prominent manufacturers of green solvents provide key insights in terms of strategies implemented to gain significant share in the green solvents market. Some of the leading manufacturers profiled in this report includes BASF SE, BioAmber Inc., Myriant Corporation, Dow Chemicals, Cargill Incorporated, Gevo Inc., Vertec Bio solvents Inc., Florida Chemicals, Lyondellbasell and E.I du Pont de Numerous and Company, Solvay S.A and Huntsman Corporation.

Key benefits

- The report includes extensive analysis of the factors driving as well as restraining the global green solvents market.
- The market estimations for the period 2014-2020 have been included along with factors affecting the same.
- The report also provides quantitative as well as qualitative market trends to help the stakeholders to analyze the current situation prevailing in the market.
- An in-depth analysis of key segments of the market demonstrates stakeholders with different types of green solvents consumed across different industries.
- SWOT analysis enables to study the internal environment of the leading companies for strategy formulation.
- Competitive intelligence highlights the business practices followed by the leading market players across various geographies.

Key market segments

The market for global green solvents is segmented as

GLOBAL GREEN SOLVENTS MARKET - BY TYPES

- Esters
- Lactate Esters
- Methyl Esters
- Others
- Alcohols, diols & glycols
- Solketal
- Isobutanol
- D-Limonene
- Others

GLOBAL GREEN SOLVENTS MARKET - BY APPLICATION

- Paints & Coatings
- Adhesives & Sealants
- Printing Ink
- Industrial & Domestic Cleaners
- Others

GLOBAL GREEN SOLVENTS MARKET - BY GEOGRAPHY

- North America
- Europe
- Asia Pacific
- LAMEA

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FEATURED COMPANIES

  • BASF SE
  • Bio-Amber Inc.
  • Cargill Incorporated
  • Dow Chemicals
  • Florida Chemicals Inc.
  • Gevo Inc.
  • MORE
CHAPTER 1 INTRODUCTION

1.1 Report description
1.2 Key benefits
1.3 Key market segment
1.4 Research methodology

1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY

2.1 CXO perspective
2.2 Market beyond what to expect by 2025

2.2.1 Moderate growth scenario
2.2.2 Rapid growth scenario
2.2.3 Diminishing growth scenario

CHAPTER 3 MAKRET OVERVIEW

3.1 Market definition and scope
3.2 Key findings

3.2.1 Top factors impacting global green solvents market
3.2.2 Top investment pockets
3.2.3 Top winning strategies of Global Green solvents market

3.3 Comparative analysis of petrochemical and green solvents
3.4 Porters five force analysis

3.4.1 Low bargaining power of the supplier
3.4.2 High bargaining power of the buyer
3.4.3 Moderate threat of substitute
3.4.4 Less competitive rivalry
3.4.5 Less threat of new entrants

3.5 Value chain analysis
3.6 PESTLE analysis

3.6.1 Political
3.6.2 Economic
3.6.3 Social
3.6.4 Technological
3.6.5 Legal
3.6.6 Environmental

3.7 Raw material analysis

3.7.1 Corn
3.7.2 Sugarcane
3.7.3 Lactic Acid
3.7.4 Refined Glycerine
3.7.5 Bio Succinic acid
3.7.6 Soybean Oil

3.8 Market Drivers

3.8.1 Hazardouds environmental effects of VOC
3.8.2 Increasing adoption of green solvents in the end user market
3.8.3 Volatile prices of crude oil
3.8.4 Emerging economies

3.9 Market restraints

3.9.1 Cost of green solvent production

3.10 Market opportunities

3.10.1 Support from the federal governments
3.10.2 Implementation of regulatory frameworks in the developing countries

CHAPTER 4 GLOBAL GREEN SOLVENTS MARKET, BY TYPE

4.1 Ester Solvents

4.1.1 Key market trends
4.1.2 Key growth factors and opportunities
4.1.3 Comparative analysis
4.1.4 Market size and forecast
4.1.5 Types of Ester Solvent

4.1.5.1 Lactate Esters
4.1.5.2 Methyl Esters

4.2 D-Limonene

4.2.1 Key market trends
4.2.2 Key growth factors and opportunities
4.2.3 Comparative analysis
4.2.4 Market size and forecast

4.3 Alcohol, Glycols & Diols Solvents

4.3.1 Key market trends
4.3.2 Key growth factors and opportunities
4.3.3 Comparative analysis
4.3.4 Market size and forecast
4.3.5 Types of Alcohols, Diols & Glycols

4.3.5.1 Solketal
4.3.5.2 Iso-butanol
4.3.5.3 Others

4.4 Others

4.4.1 Key market trends
4.4.2 Key growth factors and opportunities
4.4.3 Comparative analysis
4.4.4 Market size and forecast

CHAPTER 5 GLOBAL GREEN SOLVENTS MARKET, BY APPLICATION

5.1 Paints and coatings

5.1.1 Market size and forecast

5.2 Adhesives and sealants

5.2.1 Market size and forecast

5.3 Printing ink

5.3.1 Market size and forecast

5.4 Industrial and domestic cleaner

5.4.1 Market size and forecast

5.5 Others (Pharmaceuticals and personal care)

5.5.1 Market size and forecast

CHAPTER 6 GLOBAL GREEN SOLVENTS MARKET- BY GEOGRAPHY

6.1 North America

6.1.1 Key market trends
6.1.2 Key growth factors and opportunities
6.1.3 Market size and forecast

6.2 Europe

6.2.1 Key market trends
6.2.2 Key growth factors and opportunities
6.2.3 Market size and forecast

6.3 Asia Pacific

6.3.1 Key market trends
6.3.2 Key growth factors and opportunities
6.3.3 Market size and forecast

6.4 LAMEA

6.4.1 Key market trends
6.4.2 Key growth factors and opportunities
6.4.3 Market size and forecast

CHAPTER 7 COMPANY PROFILE

7.1 BASF SE

7.1.1 Company overview
7.1.2 Financial performance
7.1.3 Strategic moves and developments
7.1.4 SWOT analysis of BASF SE

7.2 Bio-Amber Inc.

7.2.1 Company overview
7.2.2 Financial performance
7.2.3 Strategic moves and developments
7.2.4 SWOT analysis of Bio-Amber Inc

7.3 Myriant Corporation

7.3.1 Company overview
7.3.2 Strategic moves and developments
7.3.3 SWOT analysis of Myriant Corporation

7.4 Dow Chemicals

7.4.1 Company overview
7.4.2 Financial performance
7.4.3 SWOT analysis of DOW Chemicals

7.5 Cargill Incorporated

7.5.1 Company overview
7.5.2 Financial performance
7.5.3 Strategic moves and developments
7.5.4 SWOT analysis of Cargill Incorporated

7.6 Gevo, Inc.

7.6.1 Company overview
7.6.2 Financial performance
7.6.3 Strategic moves and developments
7.6.4 SWOT analysis of Gevo, Inc.

7.7 Vertec Biosolvents, Inc.

7.7.1 Company overview
7.7.2 Strategic moves and developments
7.7.3 SWOT analysis of Vertec Biosolvents Inc.

7.8 Florida Chemicals, Inc.

7.8.1 Company overview
7.8.2 Strategic moves and developments
7.8.3 SWOT analysis of Florida Chemicals, Inc.

7.9 LyondellBasell

7.9.1 Company overview
7.9.2 Financial performance
7.9.3 Strategic moves and development
7.9.4 SWOT analysis of Lyondell basell

7.10 E.I. du Pont de Nemours and Company

7.10.1 Company overview
7.10.2 Financial performance
7.10.3 Strategic moves and developments
7.10.4 SWOT analysis of E.I. Du Pont De Numerous and Company

7.11 Huntsman Corp

7.11.1 Company overview
7.11.2 Financial performance
7.11.3 SWOT analysis of Huntsman Corp

7.12 Solvay S.A

7.12.1 Company overview
7.12.2 Financial performance
7.12.3 SWOT analysis of Solvay

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FEATURED COMPANIES

  • BASF SE
  • Bio-Amber Inc.
  • Cargill Incorporated
  • Dow Chemicals
  • Florida Chemicals Inc.
  • Gevo Inc.
  • MORE
According to the report titled, "World Green Solvents Market Opportunities and Forecast, 2014-2020", the green solvents market volume would reach 3,321.4 kilo tons by 2020, registering a CAGR of 4.3% during 2015-2020. Paints and coatings application segment contributed 43.6% share of the overall green solvents market, and is expected to maintain this trend during the forecast period.

Green solvents are bio-based solvents that are derived from various agricultural sources, such as corn, sugarcane, lactic acid, refined glycerine, bio succinic acid, vegetable oils, among others. Volatility in the crude oil prices, lower content of volatile organic compounds (VOC) and environment-friendly attribute of green solvents are the major factors fostering the growth of this market across the globe. Furthermore, increasing adoption of green solvents among the end users, including paints and coatings, printing inks and others; spiralling construction activities, automobile and consumer goods industries across the globe would supplement the market growth. However, high production cost due to capital-intensive production techniques coupled with heavy R&D investments are the major factors that would hamper the market growth.

The ester solvents segment accounted for the highest consumption in 2014 and would continue this trend during the forecast period, which was primarily due to its unique properties such as high solvency rate, easy availability and comparatively lower pricing than the other green solvents.

Key findings of the study

- Industrial and domestic cleaner application segment is projected to register highest CAGR of 7.3%, in terms of volume, during the forecast period.
- Paints and coatings is forecast to be the largest revenue-generating segment of North America green solvents industry throughout the analysis period.
- Solketal is projected to be the fastest growing segment in the alcohols, glycols & diols market during the forecast period.
- Lactate esters segment accounted for around one-fourth of the total consumption in the overall green solvents market in 2014.
- North America was the largest consumer of D-limonene across the globe in 2014.

North America and Europe collectively accounted for about 70.3% share of the market in 2014 and is expected to maintain their lead over the forecast period. Favourable government regulations and rapid adoption of innovative technologies are the key factors responsible for market growth in these regions. Rising environmental awareness among consumers and stringent environmental regulations on VOC emission of synthetic solvents have fostered the demand of green solvents in the North American region. However, Asia Pacific is projected to be the fastest growing region during the forecast period. This is due to increasing industrial activities coupled with rising environmental awareness among the consumers. China and Japan are the prime markets supplementing the growth of the Asia-Pacific green solvents market owing to booming manufacturing sectors and favourable government initiatives.

The leading players in the market have adopted expansion and partnership/collaboration as the most preferred developmental strategies to expand their respective market presence. The prominent players profiled in this report, include BASF SE, BioAmber, Inc., Myriant Corporation, Dow Chemicals, Cargill Incorporated, Gevo, Inc., Vertec Bio solvents, Inc., Florida Chemicals, Lyondellbasell and E.I. du Pont de Numerous and Company, Solvay S.A. and Huntsman Corporation.

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- BASF SE
- Bio-Amber Inc.
- Myriant Corporation
- Dow Chemicals
- Cargill Incorporated
- Gevo Inc.
- Vertec Biosolvents Inc.
- Florida Chemicals Inc.
- LyondellBasell
- E.I. du Pont de Nemours and Company
- Huntsman Corp
- Solvay S.A

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