The global green and bio-solvents market reached a value of US$ 11 billion in 2021. Looking forward, the market is projected to reach US$ 18.1 billion by 2027, exhibiting a CAGR of 8.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use industries. These insights are included in the report as a major market contributor.
Green and bio-solvents refer to environment-friendly chemical substances that are derived from agricultural sources. They are manufactured after processing of crops, such as corn, sugarcane, and lactic acid, refined glycerin, bio-succinic acid and soybean oil. Water- and hydrocarbon-based variants are two of the most commonly used green and bio-solvents. They exhibit various advantageous properties, such as high boiling point, minimal odor, convenient recyclability and low toxicity. In comparison to the traditionally used petrochemical-based solvents, they emit a lesser amount of volatile organic compounds (VOCs) while manufacturing and handling. As a result, they find extensive applications in the manufacturing of agrochemicals, paints, coatings, printing inks, adhesives, sealants, pharmaceuticals, cosmetics and domestic cleaning products.
The growing demand for environment-friendly solvents across industries is one of the key factors creating a positive outlook for the market. Green solvents are manufactured using lactate ester solvents, which are non-carcinogenic, noncorrosive and nonozone-depleting, and are rapidly replacing synthetic solvents, such as toluene, acetone and xylene. In line with this, these solvents are also used for drug discovery and development by extracting and separating compounds from mixtures. Additionally, various advancements in production technologies and numerous product innovations are acting as other growth-inducing factors. For instance, bio-solvents are used in the agriculture industry to increased yield, improved product quality and reduced cost of production. Other factors, including the growing demand for consumer products, such as perfumes, along with extensive research and development (R&D) activities and enhanced focus on sustainable development, are anticipated to drive the market further.
This report provides an analysis of the key trends in each sub-segment of the global green and bio-solvents market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on type and application.
The report has also analysed the competitive landscape of the market with some of the key players being Archer Daniels Midland Company, BASF SE, Cargill, Incorporated, CREMER OLEO GmbH & Co. KG, Dow Inc., Elevance Renewable Sciences Inc., Florachem Corporation, Huntsman Corporation, LyondellBasell Industries N.V. and Vertec Biosolvents Inc.
Green and bio-solvents refer to environment-friendly chemical substances that are derived from agricultural sources. They are manufactured after processing of crops, such as corn, sugarcane, and lactic acid, refined glycerin, bio-succinic acid and soybean oil. Water- and hydrocarbon-based variants are two of the most commonly used green and bio-solvents. They exhibit various advantageous properties, such as high boiling point, minimal odor, convenient recyclability and low toxicity. In comparison to the traditionally used petrochemical-based solvents, they emit a lesser amount of volatile organic compounds (VOCs) while manufacturing and handling. As a result, they find extensive applications in the manufacturing of agrochemicals, paints, coatings, printing inks, adhesives, sealants, pharmaceuticals, cosmetics and domestic cleaning products.
The growing demand for environment-friendly solvents across industries is one of the key factors creating a positive outlook for the market. Green solvents are manufactured using lactate ester solvents, which are non-carcinogenic, noncorrosive and nonozone-depleting, and are rapidly replacing synthetic solvents, such as toluene, acetone and xylene. In line with this, these solvents are also used for drug discovery and development by extracting and separating compounds from mixtures. Additionally, various advancements in production technologies and numerous product innovations are acting as other growth-inducing factors. For instance, bio-solvents are used in the agriculture industry to increased yield, improved product quality and reduced cost of production. Other factors, including the growing demand for consumer products, such as perfumes, along with extensive research and development (R&D) activities and enhanced focus on sustainable development, are anticipated to drive the market further.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global green and bio-solvents market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on type and application.
Breakup by Type:
- Lactate Esters
- Methyl Soyate Solvents
- Bio-Alcohols, Bio-Diols and Bio-Glycols
- D-Limonene
- Others
Breakup by Application:
- Paints and Coatings
- Printing Inks
- Cleaning Products
- Adhesives and Sealants
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also analysed the competitive landscape of the market with some of the key players being Archer Daniels Midland Company, BASF SE, Cargill, Incorporated, CREMER OLEO GmbH & Co. KG, Dow Inc., Elevance Renewable Sciences Inc., Florachem Corporation, Huntsman Corporation, LyondellBasell Industries N.V. and Vertec Biosolvents Inc.
Key Questions Answered in This Report
- How has the global green and bio-solvents market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global green and bio-solvents market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global green and bio-solvents market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Green and Bio-Solvents Market
What is the estimated value of the Global Green and Bio-Solvents Market?
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| Report Attribute | Details |
|---|---|
| No. of Pages | 144 |
| Published | April 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 11 Billion |
| Forecasted Market Value ( USD | $ 18.1 Billion |
| Compound Annual Growth Rate | 8.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Green and Bio-Solvents Market
6 Market Breakup by Type
7 Market Breakup by Application
8 Market Breakup by Region
9 SWOT Analysis
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Archer Daniels Midland Company
- BASF SE
- Cargill
- Incorporated
- CREMER OLEO GmbH & Co. KG
- Dow Inc.
- Elevance Renewable Sciences Inc.
- Florachem Corporation
- Huntsman Corporation
- LyondellBasell Industries N.V.
- Vertec Biosolvents Inc
Methodology
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