Based on the analysis the report identified that with the increasing area of sustainable chemistry along with the rising environmental concerns has prompted the adoption of green & bio-based solvent by chemical industries worldwide. Moreover, they are gaining popularity across the chemical and pharmaceutical industry owing to their renewability, biodegradability, low toxicity, and high melting point. Also, eco-friendly nature and low VOC content emission than synthetic solvents are raising their demand worldwide. Growing demand for green and bio-based solvents across various end-use industries such as adhesive and sealants, cosmetics, and pharmaceutical industries will open new opportunity growth for the market.
According to the Value Market Research (VMR), the Global Green & Bio-Based Solvent Market is estimated to grow at CAGR 7.4% and reach USD 10,680.5 MN by 2024. By volume, the market was estimated to reach XX.X KT by 2024 with a CAGR of X.X%.
ETHYL LACTATE IS HIGHLY PREFERRED AS THE GREEN SOLVENT
Ethyl lactate is likely to bring nearly USD XX.X MN by end of 2024. It is green and safe agrochemical solvent. It is used to extract phytonutrients from food waste, which can be further used in pharmaceutical, food, and cosmetic products as preservatives, natural antioxidants, colorants, and functional foods. Rising demand for economically viable and environmentally friendly solvent across various industries over traditional solvent is expected to raise the demand for ethyl lactate. Moreover, growing demand for large-scale organic synthesis chemicals is again raising the demand of the product.
PAINTS AND COATING EMERGES AS THE LARGEST APPLICATION SECTOR
Growing paints and coating industry across the globe is likely to raise the demand for green solvent, where they are used to disperse different component which is used in the paints formulation such as resins and pigments. However, solvents help to provide decorative and glossy paints for the surface. Therefore, growing demand for efficient and effective coating across various end-use industries such as automotive, construction, marine etc. is considered to be the major factor driving the growth of the segment. It estimated that by end of 2024, the paint and industry is projected to reach USD XX.X MN.
NORTH AMERICA IS LIKELY TO RULE THE MARKET
North America is likely to dominate the market owing to the rising adoption of green solvent across various end-use sectors along with the rapid expansion of construction industry in U.S. At the same time, the Asia-Pacific region is growing at the fastest rate owing to the growing consumption of green solvent in construction, pharmaceutical, paint & coating, cosmetic, agrochemical, and printing inks application.
Archer Daniels Midland Company, Corbion NV, Vertec Biosolvents Inc., Cargill Inc., BioAmber Inc., BioMCN, Galactic, Florida Chemical Company, Elevance Renewable Sciences, Inc, and Cobalt Technologies. Players are coming with new products in order to meet the demand across the globe also the advent of new vendors in the market will present room for the growth.
As per this study the Global Green & Bio-based Solvents Market was valued USD 6,495.5 MN (by revenue) in 2017 and is anticipated to reach USD 10,680.5 MN by 2024 with a CAGR of 7.5%. By volume, the market was estimated at XX.X KT in 2017 and is expected to reach XX.X KT by 2024 with a CAGR of X.X%.
With the increasing area of sustainable chemistry and the rising environmental concerns with increasing consumer awareness of eco-friendly products has prompted the adoption of green & bio-based solvent by chemical industries worldwide. Due to their renewability, biodegradability and low toxicity, and high melting point - green & bio-based solvents are gaining popularity in the various chemical and pharmaceutical industries.
Green and bio-based solvent are produced by the agricultural sources, such as corn, sugarcane, lactic acid, refined glycerin, bio-succinic acid, and soybean oil. These solvents are produced in biorefinery which combines biomass conversion process and equipment to produce fuel, power and chemical products like solvent from biomass. They are non-corrosive & non-carcinogenic in nature, recyclable and help to prevent ozone depletion, thus green & bio-based solvents are eco- friendly.
Fluctuating price of crude oil, adverse impact on the environment due to volatile organic compounds and rising adoption of green solvents in the end-user industries such as paints and coating, printing inks and others are the prime factors driving the growth of global green solvents market. On the other hand, high production cost limits the market growth to a certain extent.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of green & bio-based solvents.
The broad green & bio-based solvents market has been sub-grouped into product, and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Application Market Share 2017
- Bio-Based Methanol
- Bio-Based Ethanol
- Bio-Based Propanol
- Bio-Based Butanol
- Bio-Based Propylene Glycol
- Ethyl Lactate
- Methyl Soyate
- Paints & Coatings
- Printing Inks
- Commercial & Domestic Cleaning
- Adhesives & Sealants
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for green & bio-based solvents in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Green & bio-based solvents Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the green & bio-based solvents market includes Cargill Inc., Vertec Biosolvents Inc., BioAmber Inc., BioMCN, Corbion NV, Galactic, Archer Daniels Midland Company, Florida Chemical Company, Elevance Renewable Sciences, Inc, and Cobalt Technologies. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.
2. EXECUTIVE SUMMARY
- Introduction To Green & Bio-Based Solvents
- Report Description
- Objectives Of The Study
- Research Scope
- Research Methodology
3. MARKET ANALYSIS
- Market Highlight
- Global Green & Bio-Based Solvents Market: Snapshot
4. GREEN & BIO-BASED SOLVENTS MARKET ANALYSIS BY PRODUCT
- Porter’s Five Forces Analysis
- Value Chain Analysis
5. GREEN & BIO-BASED SOLVENTS MARKET ANALYSIS BY APPLICATION
- Market In Bio-Based Methanol
- Market In Bio-Based Ethanol
- Market In Bio-Based Propanol
- Market In Bio-Based Butanol
- Market In Bio-Based Propylene Glycol
- Market In Ethyl Lactate
- Market In D-Limonene
- Market In Methyl Soyate
- Market In Others
6. GREEN & BIO-BASED SOLVENTS MARKET ANALYSIS BY GEOGRAPHY
- Market In Paints & Coatings
- Market In Printing Inks
- Market In Commercial & Domestic Cleaning
- Market In Adhesives & Sealants
- Market In Pharmaceutical
- Market In Cosmetics
- Market In Others
7. COMPETITIVE LANDSCAPE OF THE GREEN & BIO-BASED SOLVENTS COMPANIES
- North America (NA)
- North America Market Estimates
- North America Market Estimates By Country
- United States (U.S.) Market Estimates By Segments
- Canada Market Estimates By Segments
- Mexico Market Estimates By Segments
- Europe (EU)
- Europe Market Estimates
- Europe Market Estimates By Country
- United Kingdom (UK) Market Estimates By Segments
- Germany Market Estimates By Segments
- France Market Estimates By Segments
- Rest Of Europe Market Estimates By Segments
- Asia Pacific (APAC)
- Asia Pacific Market Estimates
- Asia Pacific Market Estimates By Country
- China Market Estimates By Segments
- Japan Market Estimates By Segments
- India Market Estimates By Segments
- Rest Of Asia Pacific Market Estimates By Segments
- Latin America (LA)
- Latin America Market Estimates
- Latin America Market Estimates By Country
- Brazil Market Estimates By Segments
- Rest Of Latin America Market Estimates By Segments
- Middle East And Africa (MEA)
- Middle East And Africa Market Estimates
- Middle East And Africa Market Estimates By Country
- Middle East Market Estimates By Segments
- Africa Market Estimates By Segments
8. COMPANY PROFILES OF THE GREEN & BIO-BASED SOLVENTS INDUSTRY (Company Overview, Financial, Major Products & Recent Development)
- Market Competition
- Mergers And Acquisitions
- New Product Launches
- Other Developments
* Tentative TOC
LIST OF TABLES
- Cargill Inc.
- Vertec Biosolvents Inc.
- BioAmber Inc.
- Corbion NV
- Archer Daniels Midland Company
- Florida Chemical Company
- Elevance Renewable Sciences, Inc.
- Cobalt Technologies
Table 1. Market Highlights Of Green & Bio-Based Solvents
Table 2. Global Green & Bio-Based Solvents Market By Product
Table 3. Global Green & Bio-Based Solvents Market By Application
Table 4. Global Green & Bio-Based Solvents Market By Geography
Table 5. North America Green & Bio-Based Solvents Market
Table 6. Europe Green & Bio-Based Solvents Market
Table 7. Asia Pacific Green & Bio-Based Solvents Market
Table 8. Latin America Green & Bio-Based Solvents Market
Table 9. Middle East And Africa Green & Bio-Based Solvents Market
Table 10. Partnership/Collaboration/Agreements
Table 11. Mergers And Acquisitions
Table 12. New Product Development
Table 13. Other Developments
LIST OF FIGURES
Fig. 1. Market Segmentation Of Green & Bio-Based Solvents Market
Fig. 2. Top-Down Approach
Fig. 3. Bottom-Up Approach
Fig. 4. Market Highlights Of Green & Bio-Based Solvents
Fig. 5. Value Chain Analysis
Fig. 6. Porter’s Five Forces Analysis
Fig. 7. Global Green & Bio-Based Solvents Market By Product
Fig. 8. Global Green & Bio-Based Solvents Market By Application
Fig. 9. Global Green & Bio-Based Solvents Market By Geography
Fig. 10. North America Green & Bio-Based Solvents Market
Fig. 11. Europe Green & Bio-Based Solvents Market
Fig. 12. Asia Pacific Green & Bio-Based Solvents Market
Fig. 13. Latin America Green & Bio-Based Solvents Market
Fig. 14. Middle East And Africa Green & Bio-Based Solvents Market
Fig. 15. Market Share Of Green & Bio-Based Solvents Companies
Fig. 16. Recent Developments In Green & Bio-Based Solvents Industry
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.