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Green & Bio-Solvents Market by Type, End-Use Industry and Region - Global Forecast to 2026

Green & Bio-Solvents Market by Type, End-Use Industry and Region - Global Forecast to 2026

  • April 2021
  • 208 pages
  • ID: 3414454
  • Format: PDF
  • MarketsandMarkets

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The green & bio-solvents market size is estimated to be USD 1.2 billion in 2021 and is projected reach USD 1.5 billion by 2026, at a CAGR of 4.5% between 2021 and 2026. Industrial & Domestic Cleaners is the largest application of the green & bio-solvents market. Factors such as growing demand from pharmaceuticals industry, rapid industrialization in growing economies like China, India & Thailand and increasing stringent regulations will drive the green & bio-solvents market.

Environmental regulations to reduce VOC emissions
Volatile organic compounds (VOC) contain one or more carbon atoms that have high vapor pressures and, therefore, evaporate rapidly in the air.These are compounds that form ground-level ozone and particulate matter and, thus, are the main ingredients of smog.

Smog is known to have an adverse effect on human health and also on the environment, including reductions in agricultural crops and commercial forest yields, reduced growth & survivability of tree seedlings, and increased plant susceptibility to diseases, pests, and harsh weather conditions. Conventional solvents are high on VOC content, and they are used in paints & coatings, adhesives, sealants, printing inks, and varnishes.

Methyl Soyate is the fastest growing segment by type for green & bio-solvents market during the forecast period
Methyl soyate has become commercially successful as a viable green alternative industrial solvent on its own merits.Its market demand has increased exponentially over the past ten years.

This is despite some perceived solvent property deficiencies.Beyond being an ingredient in cleaners and strippers to replace chlorinated or petroleum products, methyl soyate could find increased use as a carrier solvent.

Methyl soyate is not limited to the replacement of regulated industrial cleaning solvents.Due to its eco-friendly nature, methyl soyate can be used to clean up and recover petroleum products from shorelines and streams.

The EPA has listed a methyl soyate bio-solvent on the National Contingency Plan product schedule for oil spills.

Industrial & Domestic Cleaners is estimated to be the largest application for green & bio-solvents market between 2021 and 2026.
Bio-solvents are used in the cleaning of high-precision mechanical parts such as ball bearings.For this application, perfect cleaning is necessary for the proper functioning of the mechanical piece (remaining dirt would damage the metal) and is critical to the safety of machines in the working process.

The use of bio-solvents in household cleaners helps to clean the kitchens, showers, toilets, carpets, and other household items.For example, solvents used in dry cleaning machines help clean clothes by dispersing and dissolving dirt.

Bio-solvents also help with disinfectant to get into all the nooks and crannies of the surface. They give products a longer shelf-life and also ensure product stability.

North America is expected to be the largest green & bio-solvents market during the forecast period, in terms of value and volume.

North America has conventionally been a strong market for green & bio-solvents.Globally, the North American market has been a leader with respect to demand as well as product innovation in terms of quality and application development.

The key countries in the North American market are the US (the most dominant market, accounting for a significant market share), Canada, and Mexico. Although a small market, Mexico has witnessed promising demand that is expected to continue in the near future.
As the shale gas production increases, North American ethylene producers are increasingly shifting from petroleum-derived naphtha to lighter, natural gas-based feedstock.Sugars, glycerol, and other plant-derived products are emerging as economically competitive starting materials for a range of commodity chemicals.

The US accounts for the maximum market share in the North American region, followed by other countries in the region.Many key players of the green & bio-solvents market are headquartered in the region.

The versatile properties of various types of green & bio-solvents have resulted in high growth of the market in the past decades.

In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees are as follows:
• By Company Type: Tier 1 - 69%, Tier 2 - 23%, and Tier 3 - 8%
• By Designation: C-Level - 23%, Director Level - 37%, and Others - 40%
• By Region: North America - 32%, Europe - 21%, APAC - 28%, RoW- 19%,

The key market players profiled in the report include BASF SE (Germany), Archer Daniels Midland Company (US), Vertec Biosolvents Inc. (US), Stepan Company (US), Solvay (Belgium), GFBiochemicals (Netherlands), Cargill Inc. (US), Astrobio (Italy), The Dow Chemical Company (US), and India Glycols Limited (India). They are continuously undertaking developmental strategies such as expansions, acquisitions, and contracts & agreements to strengthen their position in the market.

Research Coverage
This report segments the market for green & bio-solvents market on the basis of type, application and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for green & bio-solvents market.

Reasons to buy this report
This research report is focused on various levels of analysis — industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the green & bio-solvents market; high-growth regions; and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on green & bio-solvents market offered by top players in the global green & bio-solvents market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the green & bio-solvents market
• Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for green & bio-solvents market across regions
• Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global green & bio-solvents market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the green & bio-solvents market
• Impact of COVID-19 on green & bio-solvents market

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