+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Green and Bio-Solvents Market Size and Forecast 2024-2034: Global and Regional Share, Trends, and Growth Opportunity Analysis by Type; Application; End-use Industry; and Region

  • PDF Icon

    Report

  • 122 Pages
  • August 2024
  • Region: Global
  • IHR Insights
  • ID: 5860377
10% Free customization
10% Free customization

This report comes with 10% free customization, enabling you to add data that meets your specific business needs.

This report provides a comprehensive analysis of the green and bio-solvents market from 2020 to 2030, with a focus on key trends, drivers, challenges, and opportunities shaping the industry. The report offers insights into market dynamics, competitive landscape, regulatory framework, and regional analysis to assist stakeholders in making informed decisions. It aims to provide a detailed understanding of the market landscape, enabling companies to devise effective strategies for market penetration and growth during the forecast period.

Market Dynamics:

The green and bio-solvents market is driven by increasing environmental regulations, a growing consumer preference for sustainable products, and the need for industries to reduce their carbon footprint. Rising awareness about the harmful effects of traditional solvents has led to a shift towards bio-based alternatives. However, challenges such as higher production costs and limited scalability compared to conventional solvents can hinder market growth. Technological advancements and the development of cost-effective production methods are crucial for the widespread adoption of green and bio-solvents in various industries.

Market Trends:

The green and bio-solvents market is experiencing key trends such as a surge in demand for eco-friendly products, driven by stricter environmental regulations and consumer awareness. Innovations in bio-based solvent production, including advancements in fermentation and enzymatic processes, are enhancing efficiency and cost-effectiveness. There's also an increasing focus on developing bio-solvents for diverse applications, from paints and coatings to pharmaceuticals. Additionally, partnerships and collaborations between companies and research institutions are on the rise, aimed at accelerating the commercialization of next-generation green solvents.

Market Driver

Strong demand for cleaner, sustainable products

A major driver of the green and bio-solvents market is the increasing regulatory pressure to reduce environmental pollution, particularly the emission of volatile organic compounds (VOCs) associated with traditional solvents. This, coupled with growing consumer demand for sustainable and eco-friendly products, is pushing industries to adopt bio-based alternatives. Additionally, advancements in biotechnology and the availability of renewable raw materials are making the production of green solvents more viable, further fueling market growth. The global shift towards sustainable practices in industrial processes is a key factor driving the expansion of this market.

Market Restraint

Higher production costs and limited availability of bio-solvents

A significant restraint in the green and bio-solvents market is the higher production cost compared to traditional petrochemical-based solvents. The complexities of sourcing renewable raw materials and the need for advanced technologies in production contribute to these costs, making green solvents less economically attractive for some industries. Additionally, the limited scalability and availability of bio-solvents can hinder their widespread adoption. These challenges are compounded by the performance gap that sometimes exists between bio-solvents and their conventional counterparts, particularly in highly specialized applications.

Market Size Estimation:

The global green and bio-solvents market is estimated to reach USD 6.5 billion by 2030, growing at a CAGR of 5.2% from 2024 to 2030. The global green and bio-solvents market is primarily driven by the increasing emphasis on environmental sustainability and the need to reduce harmful emissions, particularly volatile organic compounds (VOCs) associated with traditional solvents. Regulatory bodies across the globe are implementing stricter environmental standards, compelling industries to shift towards eco-friendly alternatives. Additionally, growing consumer demand for sustainable and non-toxic products in sectors like paints and coatings, pharmaceuticals, and cleaning products is accelerating the adoption of green and bio-solvents. Advances in biotechnology and the availability of renewable raw materials are also playing a crucial role in driving market growth by making the production of these solvents more efficient and cost-effective.

Market Segmentation:

The Green and Bio-Solvents market is segmented by type, application, end-use industry, and region. The type segment includes bio-alcohols, bio-ester, bio-lactones, bio-derived terpenes, and other green and bio-based solvents, representing the various formulations derived from renewable resources. Applications are categorized into paints & coatings, adhesives, cleaning products, pharmaceuticals, industrial processes, and other uses, showcasing the diverse roles of green and bio-solvents across different sectors. The end-use industry segment covers automotive, construction, consumer goods, healthcare, and manufacturing, illustrating the adoption of green and bio-solvents in various fields for their environmental and performance benefits. The market is also analyzed across key regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, providing insights into regional market dynamics and growth opportunities.

Competitive Landscape:

The green and bio-solvents market's competitive landscape is characterized by a mix of established chemical companies and emerging players focusing on sustainable solutions. Major companies like BASF, Dow, and Cargill are leveraging their extensive R&D capabilities and global distribution networks to develop and market bio-based solvents. Meanwhile, smaller companies and startups are innovating with new technologies and specialized products to carve out niche markets. Strategic collaborations, mergers, and acquisitions are common as companies seek to expand their product portfolios and enhance their market presence. The competition is intensifying as the demand for eco-friendly solvents grows, driving innovation and pushing companies to differentiate their offerings.

Market Forecast:

The green and bio-solvents market is expected to experience robust growth over the forecast period, driven by increasing environmental regulations, rising consumer demand for sustainable products, and advancements in bio-based technologies. The market is anticipated to expand as industries across sectors like paints, coatings, cleaning products, and pharmaceuticals increasingly adopt eco-friendly solvents to meet regulatory standards and reduce their carbon footprint. While higher production costs and scalability challenges may temper growth, ongoing innovations and investments in research are likely to mitigate these issues, leading to a strong upward trajectory for the market.

Regulatory Framework:

The regulatory framework for the green and bio-solvents market is shaped by stringent environmental laws and policies aimed at reducing pollution and promoting sustainability. Governments and regulatory bodies, particularly in regions like North America and Europe, are enforcing strict limits on volatile organic compound (VOC) emissions, driving the adoption of eco-friendly solvents. Regulations such as the REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) in the European Union and the Clean Air Act in the United States are significant drivers pushing industries towards green and bio-solvents. These regulations not only encourage the use of renewable resources but also mandate transparency in chemical usage, further boosting the market for safer, bio-based alternatives.

Customer Landscape:

The customer landscape of the green and bio-solvents market is diverse, encompassing industries such as paints and coatings, pharmaceuticals, cosmetics, and cleaning products, all seeking sustainable alternatives to traditional solvents. Industrial customers are increasingly prioritizing eco-friendly solutions to comply with environmental regulations and meet the growing consumer demand for sustainable products. End-users are also becoming more environmentally conscious, driving demand for green products with lower toxicity and reduced environmental impact. This shift is influencing purchasing decisions across the value chain, from manufacturers to retailers, creating opportunities for companies offering innovative and sustainable solvent solutions.

Regional Analysis:

The green and bio-solvents market shows varying dynamics across regions. In North America and Europe, stringent environmental regulations and strong consumer demand for sustainable products drive significant market growth, with robust adoption in industries such as paints and coatings. Asia-Pacific is emerging as a rapidly growing region due to increased industrial activity and rising awareness of environmental issues, though the market here is still maturing. Latin America and the Middle East are also showing growth potential as regulatory frameworks strengthen and industrial sectors seek greener alternatives. Each region's growth is influenced by local regulations, economic conditions, and the level of industry adoption of sustainable practices.

Industry Outlook:

The industry outlook for the green and bio-solvents market is positive, with anticipated growth driven by increasing environmental regulations and a rising consumer preference for sustainable products. Companies are investing in research and development to innovate and expand their green solvent offerings, addressing challenges related to cost and scalability. As industries across sectors, including paints, coatings, pharmaceuticals, and cleaning products, seek eco-friendly alternatives, the market is expected to see substantial expansion. The trend towards sustainability is likely to accelerate market growth, leading to greater adoption of bio-based solvents and fostering a more competitive and dynamic industry landscape.

Table of Contents

1. Executive Summary
2. Market Introduction
2.1. Market Definition
2.2. Market Segmentation
2.3. Research Methodology
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4. Market Trends
4. Global Green and Bio-Solvents Market, by Type
4.1. Bio-Alcohols
4.2. Bio-Ester
4.3. Bio-Lactones
4.4. Bio-Derived Terpenes
4.5. Others
5. Global Green and Bio-Solvents Market, by Application
5.1. Paints & Coatings
5.2. Cleaning Products
5.3. Pharmaceuticals
5.4. Industrial Processes
5.5. Others
6. Global Green and Bio-Solvents Market, by End-use Industry
6.1. Automotive
6.2. Construction
6.3. Consumer Goods
6.4. Healthcare
6.5. Manufacturing
6.6. Others
7. Global Green and Bio-Solvents Market, by Region
7.1. North America
7.1.1. United States
7.1.2. Canada
7.1.3. Mexico
7.2. Europe
7.2.1. Germany
7.2.2. United Kingdom
7.2.3. France
7.2.4. Italy
7.2.5. Spain
7.2.6. Rest of Europe
7.3. Asia Pacific
7.3.1. China
7.3.2. Japan
7.3.3. India
7.3.4. South Korea
7.3.5. Australia
7.3.6. Rest of Asia Pacific
7.4. South and Central America
7.4.1. Brazil
7.4.2. Argentina
7.4.3. Rest of South and Central America
8. Competitive Landscape
8.1. Market Share Analysis
8.2. Company Profiles
8.2.1. BASF SE
8.2.2. Dow Inc.
8.2.3. Archer Daniels Midland Company
8.2.4. Cargill, Incorporated
8.2.5. Solvay S.a.
8.2.6. Gevo, Inc.
8.2.7. Vertec Biosolvents Inc.
8.2.8. Corbion N.V.
8.2.8. Stepan Company
8.2.8. Florida Chemical Company, Inc.
8.2.11. LyondellBasell Industries N.V.
8.2.12. Myriant Corporation
8.2.13. GFBiochemicals Ltd.
8.2.14. Agaia, Inc.
8.2.15. Circa Group aS
9. Conclusion and Future Outlook10. Appendix
List of Tables
Table 1: Global Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 2: Global Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 3: Global Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 4: North America Bio-Solvents Market Value by Country, 2022-2032 (USD Million)
Table 5: United States Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 6: United States Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 7: United States Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 8: Canada Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 9: Canada Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 10: Canada Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 11: Mexico Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 12: Mexico Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 13: Mexico Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 14: Europe Bio-Solvents Market Value by Country, 2022-2032 (USD Million)
Table 15: Germany Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 16: Germany Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 17: Germany Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 18: United Kingdom Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 19: United Kingdom Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 20: United Kingdom Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 21: France Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 22: France Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 23: France Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 24: Italy Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 25: Italy Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 26: Italy Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 27: Spain Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 28: Spain Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 29: Spain Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 30: Russia Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 31: Russia Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 32: Russia Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 33: Rest of Europe Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 34: Rest of Europe Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 35: Rest of Europe Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 36: Asia Pacific Bio-Solvents Market Value by Country, 2022-2032 (USD Million)
Table 37: China Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 38: China Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 39: China Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 40: Japan Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 41: Japan Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 42: Japan Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 43: India Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 44: India Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 45: India Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 46: Australia Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 47: Australia Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 48: Australia Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 49: South Korea Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 50: South Korea Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 51: South Korea Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 52: ASEAN Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 53: ASEAN Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 54: ASEAN Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 55: Rest of Asia-Pacific Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 56: Rest of Asia-Pacific Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 57: Rest of Asia-Pacific Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 58: MEA Bio-Solvents Market Value by Country, 2022-2032 (USD Million)
Table 59: Turkey Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 60: Turkey Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 61: Turkey Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 62: Saudi Arabia Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 63: Saudi Arabia Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 64: Saudi Arabia Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 65: UAE Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 66: UAE Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 67: UAE Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 68: South Africa Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 69: South Africa Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 70: South Africa Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 71: Rest of MEA Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 72: Rest of MEA Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 73: Rest of MEA Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 74: South America Bio-Solvents Market Value by Country, 2022-2032 (USD Million)
Table 75: Brazil Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 76: Brazil Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 77: Brazil Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 78: Argentina Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 79: Argentina Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 80: Argentina Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 81: Rest of South America Bio-Solvents Market Value by Type, 2022-2032 (USD Million)
Table 82: Rest of South America Bio-Solvents Market Value by Application, 2022-2032 (USD Million)
Table 83: Rest of South America Bio-Solvents Market Value by End-use Industry, 2022-2032 (USD Million)
Table 84: Company Regional Footprint
Table 85: Company Industry Footprint
List of Figures
Figure 1: Global Bio-Solvents Market Segments
Figure 2: Research Timelines
Figure 3: Data Triangulation Method
Figure 4: Market Research Flow
Figure 5: Data Sources
Figure 6: Executive Summary
Figure 7: Global Bio-Solvents Market Estimates and Forecast (USD Million), 2022-2031
Figure 8: Global Bio-Solvents Market Absolute Market Opportunity
Figure 9: Global Bio-Solvents Market Attractiveness Analysis, by Region
Figure 10: Global Bio-Solvents Market Attractiveness Analysis, by Type
Figure 11: Global Bio-Solvents Market Attractiveness Analysis, by Application
Figure 12: Global Bio-Solvents Market Attractiveness Analysis, by End-use Industry
Figure 13: Global Bio-Solvents Market Geographical Analysis, 2024-2031
Figure 14: Global Bio-Solvents Market, by Type (USD Million)
Figure 15: Global Bio-Solvents Market, by Application (USD Million)
Figure 16: Global Bio-Solvents Market, by End-use Industry (USD Million)
Figure 17: Future Market Opportunities
Figure 18: Global Bio-Solvents Market Outlook
Figure 19: Porter's Five Forces Analysis
Figure 20: Global Bio-Solvents Market, by Type
Figure 21: Global Bio-Solvents Market Basis Point Share (BPS) Analysis, by Type
Figure 22: Global Bio-Solvents Market, by Application
Figure 23: Global Bio-Solvents Market Basis Point Share (BPS) Analysis, by Application
Figure 24: Global Bio-Solvents Market, by End-use Industry
Figure 25: Global Bio-Solvents Market Basis Point Share (BPS) Analysis, by End-use Industry
Figure 26: Global Bio-Solvents Market, by Geography, 2022-2031 (USD Million)
Figure 27: North America Market Snapshot
Figure 28: U.S. Market Snapshot
Figure 29: Canada Market Snapshot
Figure 30: Mexico Market Snapshot
Figure 31: Europe Market Snapshot
Figure 32: Germany Market Snapshot
Figure 33: UK Market Snapshot
Figure 34: France Market Snapshot
Figure 35: Italy Market Snapshot
Figure 36: Russia Market Snapshot
Figure 37: Spain Market Snapshot
Figure 38: Rest of Europe Market Snapshot
Figure 39: Asia-Pacific Market Snapshot
Figure 40: China Market Snapshot
Figure 41: India Market Snapshot
Figure 42: Japan Market Snapshot
Figure 43: Australia Market Snapshot
Figure 44: South Korea Market Snapshot
Figure 45: ASEAN Market Snapshot
Figure 46: Rest of Asia-Pacific Market Snapshot
Figure 47: MEA Market Snapshot
Figure 48: Turkey Market Snapshot
Figure 49: UAE Market Snapshot
Figure 50: Saudi Arabia Market Snapshot
Figure 51: South Africa Market Snapshot
Figure 52: Rest of MEA Market Snapshot
Figure 53: South America Market Snapshot
Figure 54: Brazil Market Snapshot
Figure 55: Argentina Market Snapshot
Figure 56: Rest of South America Market Snapshot
Figure 57: Company Market Ranking Analysis
Figure 58: Ace Matrix
Figure 59: BASF SE - Company Insights
Figure 60: BASF SE - Segment Breakdown
Figure 61: BASF SE - SWOT Analysis
Figure 62: Dow Inc. - Company Insights
Figure 63: Dow Inc. - Segment Breakdown
Figure 64: Dow Inc. - SWOT Analysis
Figure 65: Archer Daniels Midland Company - Company Insights
Figure 66: Archer Daniels Midland Company - Segment Breakdown
Figure 67: Archer Daniels Midland Company - SWOT Analysis
Figure 68: Cargill, Incorporated - Company Insights
Figure 69: Cargill, Incorporated - Segment Breakdown
Figure 70: Cargill, Incorporated - SWOT Analysis
Figure 71: Solvay S.a. - Company Insights
Figure 72: Solvay S.a. - Segment Breakdown
Figure 73: Solvay S.a. - SWOT Analysis
Figure 74: Gevo, Inc. - Company Insights
Figure 75: Gevo, Inc. - Segment Breakdown
Figure 76: Gevo, Inc. - SWOT Analysis
Figure 77: Vertec Biosolvents Inc. - Company Insights
Figure 78: Vertec Biosolvents Inc. - Segment Breakdown
Figure 79: Vertec Biosolvents Inc. - SWOT Analysis
Figure 80: Corbion N.V. - Company Insights
Figure 81: Corbion N.V. - Segment Breakdown
Figure 82: Corbion N.V. - SWOT Analysis
Figure 83: Stepan Company - Company Insights
Figure 84: Stepan Company - Segment Breakdown
Figure 85: Stepan Company - SWOT Analysis
Figure 86: Florida Chemical Company, Inc. - Company Insights
Figure 87: Florida Chemical Company, Inc. - Segment Breakdown
Figure 88: Florida Chemical Company, Inc. - SWOT Analysis
Figure 89: LyondellBasell Industries N.V. - Company Insights
Figure 90: LyondellBasell Industries N.V. - Segment Breakdown
Figure 91: LyondellBasell Industries N.V. - SWOT Analysis
Figure 92: Myriant Corporation - Company Insights
Figure 93: Myriant Corporation - Segment Breakdown
Figure 94: Myriant Corporation - SWOT Analysis
Figure 95: GFBiochemicals Ltd. - Company Insights
Figure 96: GFBiochemicals Ltd. - Segment Breakdown
Figure 97: GFBiochemicals Ltd. - SWOT Analysis
Figure 98: Agaia, Inc. - Company Insights
Figure 99: Agaia, Inc. - Segment Breakdown
Figure 100: Agaia, Inc. - SWOT Analysis
Figure 101: Circa Group aS - Company Insights
Figure 102: Circa Group aS - Segment Breakdown
Figure 103: Circa Group aS - SWOT Analysis

Companies Mentioned

  • BASF SE
  • Dow Inc.
  • Archer Daniels Midland Company
  • Cargill Incorporated
  • Solvay S.A.
  • Gevo Inc.
  • Vertec Biosolvents Inc.
  • Corbion N.V.
  • Stepan Company
  • Florida Chemical Company Inc.
  • LyondellBasell Industries N.V.
  • Myriant Corporation
  • GFBiochemicals Ltd.
  • Agaia Inc.
  • Circa Group AS