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Bio-based Solvents - 6 Dimensional Analysis (TechVision) 

  • September 2015
  • 44 pages
  • Frost & Sullivan
Report ID: 3312528

Summary

Table of Contents

Bio-based Solvents - 6 Dimensional Analysis (TechVision) : Evaluating Bio-Solvents through a 6-Dimensional Approach

Bio based solvents, an emerging grade of fluids is considered as a key technology to facilitate a greener manufacturing across industries- Developments in processes using bio based feed-stocks has resulted in solvents which can compete with traditional solvents in terms of performance with significant value adds such as zero toxicity, biodegradability and zero volatile organic compound emissions- A key contributing factor for its adoption can be attributed to enforcement of stringent regulations that necessitate the replacement of petroleum based solvents across the globe- This research study focuses on evaluating bio-based solvents using six criteria, namely: market potential, IP, funding, application potential, breadth of industries impacted and its impact of mega trends, The disruptive potential of the technology across various industries have also been analyzed.

Key Findings

-The primary focus of research on bio-based solvents is finding green alternatives to high-demand petroleum-based solvents-

• The proven capability of improved performance of bio-based solvents in industrial cleansers and surfactants, paint formulations and coatings has resulted in increase in adoption- The need for environment-friendly substitutes at lower production costs are the key factors that will drive the bio-based solvents market in the next years-

-Coatings and paints are a large volume application segment for bio-based solvents- With over % of solvent composition in paint formulations, effective solvents for paints and coatings is expected to have a large market share of % of the total bio solvents market-

• Polyesters, polyacrylate, and alkyds are the primary resin constituents of paint formulations- Therefore, the research focus currently is on developing solvents that can act as coalescing agents for such formulations-

- According to Frost & Sullivan analysis, the global market for bio-based solvents is currently estimated to be around USD billion with a total addressable market volume of million metric tons- The penetration of bio-based solvents of the total solvent market of million metric tons is assumed to be around % in 2015-

• Due to an increase in the urbanization and industrialization rate, developments toward implementing green practices in industrial solvents and commodity chemicals is expected to drive growth in this industry at a rate of % and reach a total market potential of USD billion by 2020-

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