The Global Green And Bio Solvents Market Will Grow From USD 1.2 Billion In 2022 To USD 1.6 Billion By 2030, At A CAGR Of 5.6%.

Green and Bio Solvents Market Overview:

Green solvents are derived from agricultural resources such as corn, sugar cane, lactic acid, refined glycerin, biosuccinic acid, soybean oil, etc. They are the least toxic solvents such as acetone, ethanol, methanol, 2-propanol, ethyl acetate, isopropyl acetate, methyl ethyl ketone, 1-butanol, tert-butanol, etc. They are used as intermediates in the manufacture of various products in industries such as detergents, cosmetics, paints and coatings, inks, adhesives and sealants, and pharmaceuticals.

Green and Bio Solvents market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Green and Bio Solvents market in detail. Regional market sizes related to products by type, by application, and by the player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In November 2019, Archer Daniels Midland Company acquired Florida Chemical Company (FCC), a division of Flotek Industries (NYSE: FTK ). The company produces D-limonene, a biodegradable solvent, and a degreaser derived from orange peels.
• In September 2019, Corbion renewed its contract with Brenntag, a distributor of chemicals and ingredients in Europe and the Middle East.
• In May 2019, DuPont Tate & Lyle Bio Products, Corbion, INOLEX and ACT Solutions collaborated to produce a range of personal care product formulations with 100% bio-based ingredients.
• In February 2020, the company announced a joint venture with Towell Engineering Group (Oman) to produce levulinic acid-derived biochemical products. The partnership, called Nxtlevvel, is expected to produce 30,000 metric tons of biodegradable solvents and plasticizers per year for the cleaning, personal care, coatings and agricultural markets.

Major Segments Covered in the Global Green and Bio Solvents Market:

Market Key Players:
Archer Daniels Midland Company, BASF SE, BioAmber Inc, Huntsman Corporation, E.I. Du Pont de Nemours & Co, The Dow Chemical Company, Vertec Biosolvents Inc., Florida Chemical Company, Cargill Incorporated, Galactic, Gevo, Pinova Holdings INC, Myriant, LyondellBasell, Solvay, Akzo Nobel., And Others.

Green and Bio Solvents Market by Types:

• Bio-Alcohols
• Bio-Glycols&Diols
• Lactate Esters
• D-Limonene
• Methyl Soyate

Green and Bio Solvents Market by Applications:

• Industrial & Domestic Cleaners
• Paints & Coatings
• Adhesives
• Pharmaceuticals
• Cosmetics

Green and Bio Solvents Market by Regions:

The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030.

The green/bio-based solvents market size in Asia Pacific is expected to grow at the highest CAGR of 6.5% over the forecast period, accounting for 21% of the green/bio-based solvents market share by 2020. This is attributed to increasing demand in markets such as paints & coatings, ink manufacturing, industrial, cosmetics, pharmaceuticals, etc. in Asia Pacific. The paints and coatings industry in China is growing rapidly, which in turn is driving market manufacturers to produce high-quality green/bio-based solvents market for dispersing ingredients in paint formulations. Moreover, global manufacturers consider Asia Pacific to be an attractive market due to its low labor costs, low setup costs of manufacturing units, and low market costs. These factors drive the green/bio-based solvents market in the region.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Driver:

The demand for green and biosolvents is growing faster than conventional solvents. This is because of increasing environmental regulations, especially in Europe and North America, and increasing availability of green and biosolvents with enhanced properties at lower cost by existing and new production plants. Green and biosolvents are used in applications such as cleaning, plant protection oils, wetting agents and biofluxes. Due to continuous product innovations, the application areas of green and biosolvents are increasing, which is the key driver of the market.

Restraint:

The availability of raw materials and their continuous supply are crucial to ensure undisturbed green and biosolvent production. Uniform raw material quality is also essential for efficient production. The profitability of green and biosolvents is often based on the availability of cheap renewable raw materials, while future increases/strong cyclicality in raw material prices would make production unprofitable. SMEs are less likely to use price hedging instruments and other similar instruments to establish long-term fixed-price contracts than larger companies.

Opportunity:

Common solvents such as diethanolamine, triethanolamine, and polyethylene glycol are used in personal care products. These solvents can cause health problems such as hormone disruption, irritation of the eyes, skin, respiratory tract, sore throat, asthma and allergic contact dermatitis. Other common solvents, such as carbon tetrachloride and 1,2-dichloroethane, are used in toxic and carcinogenic pharmaceutical applications. These factors expand the scope of research and development in the field of green and biosolvents.

Challenge:

The economics of the green and biosolvents industry are complex given the wide range of variables in the fairly new value chain and production chain. Larger players have a better chance of understanding the value chain and positioning themselves than Small and Medium Enterprises (SMEs).

Green and biosolvents can compete fiercely with petrochemical solvents. Breaking into a well-structured industry with major players can be challenging for new players.

Report Scope of Global Green and Bio Solvents Market:

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
• The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Frequently Asked Questions-

What is the CAGR of Green and Bio Solvents market?

The Green and Bio Solvents Market is growing at a CAGR of 5.96% During Forecast Period.

 What are the key types and applications of Green and Bio Solvents market?

- Bio-Alcohols, Bio-Glycols&Diols, Lactate Esters, D-Limonene, Methyl Soyate

- Industrial & Domestic Cleaners, Paints & Coatings, Adhesives, Pharmaceuticals, Cosmetics

Who are the key players in Green and Bio Solvents market?

Archer Daniels Midland Company, BASF SE, BioAmber Inc, Huntsman Corporation, E.I. Du Pont de Nemours & Co, The Dow Chemical Company, Vertec Biosolvents Inc., Florida Chemical Company, Cargill Incorporated, Galactic, Gevo, Pinova Holdings INC, Myriant, LyondellBasell, Solvay, Akzo Nobel., And others.