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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.
Scope of the Report:
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 2021. 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 worldwide market for Green and Bio Solvents is expected to grow at a CAGR of roughly 7.8% over the next five years, will reach 8610 million US$ in 2024, from 5480 million US$ in 2019, according to a new GIR (Global Info Research) study.
This report focuses on the Green and Bio Solvents in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
Market Segment by Manufacturers, this report covers
- 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
- Pinova Holding INC
Market Segment by Regions, regional analysis covers
- North America (United States, Canada and Mexico)
- Europe (Germany, France, UK, Russia and Italy)
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- South America (Brazil, Argentina, Colombia etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
- Lactate Esters
- Methyl Soyate
Market Segment by Applications, can be divided into
- Industrial & Domestic Cleaners
- Paints & Coatings
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Green and Bio Solvents product scope, market overview, market opportunities, market driving force and market risks.
Chapter 2, to profile the top manufacturers of Green and Bio Solvents, with price, sales, revenue and global market share of Green and Bio Solvents in 2017 and 2018.
Chapter 3, the Green and Bio Solvents competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Green and Bio Solvents breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2014 to 2019.
Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2014 to 2019.
Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2014 to 2019.
Chapter 12, Green and Bio Solvents market forecast, by regions, type and application, with sales and revenue, from 2019 to 2024.
Chapter 13, 14 and 15, to describe Green and Bio Solvents sales channel, distributors, customers, research findings and conclusion, appendix and data source.