Global Green and Bio Solvents Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global green and bio solvents market in its upcoming report titled, “Global Green and Bio Solvents Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global green and bio solvents market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global green and bio solvents market report have been segmented on the basis of type, application, and region.
Green solvents are derived from processing of agricultural crops, such as corn, sugarcane, soybean oil, refined glycerin, and similar others. Players operating in the target market are shifting towards green solvents owing to its eco-friendly nature and low volatile organic component (VOC) content emission, which helps to reduce negative environmental impact as compared to petroleum-based solvent.
Increasing adoption of green and bio solvents, owing to their properties such as biodegradable, recyclable, and resistance to corrosion is a major factor expected to drive growth of the global market over the forecast period. In addition, fluctuating crude oil prices and rising adoption of green solvents in various end-use industries such as paints and coatings, printing inks, etc. are other factors expected to fuel growth of the target market. Furthermore, increasing awareness regarding hazardous environmental effects resulting in shift of consumer preference towards green- and bio-based products as they are volatile organic component (VOC) free is another factor expected to support growth of this market in the near future. Moreover, increasing government initiatives and investment in research and development activities for development of green and bio-based solvents, and stringent regulations on VOC emissions and other hazardous air pollutants are some other important factors expected to fuel growth of the global market over the forecast period.
However, high production cost owing to limited technological advancements in bio-solvent production process is a key factor expected to restrain growth of the global market over the forecast period.
Technological advancements and development of cost-effective production technology is expected to create lucrative opportunities for target players operating the market.
The market in North America dominates the target market in terms of revenue over the forecast period, owing to increasing awareness amongst individuals regarding adoption of green solvents especially in the US construction industry. The market in Europe is expected to account for second highest share in the market over the forecast period, owing to rising government regulations for green and bio solvents in various countries in the region. The market in Asia Pacific is expected to account for highest CAGR over the forecast period, owing to increasing government initiatives and investment in research and development activities across various sectors in the region.
Global green and bio solvents market segmentation:
Segmentation by type:
- Bio glycols
- Bio diols
- Methyl Soyate
Segmentation by application:
- Paints & coatings
- Industrial & domestic cleaners
- Personal care
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- BASF SE
- BioAmber Inc.
- Myriant Corporation
- Dow Chemicals
- Cargill Incorporated
- Gevo Inc.
- Vertec BioSolvents Inc.
- Florida Chemical Company, Inc.
- Solvay S.A
- Huntsman Corporation
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