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Green & Bio-Solvents Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Bio-Alcohols, Bio-Diols, Bio-Glycols, Methyl Soyate Solvents, Lactate Esters, and Others), By Application (Paints and Coatings, Adhesives and Sealants, Cleaning Products, Printing Inks and Others), Region, and Competition
Market Report I 2022-12-01 I 115 Pages I TechSci Research
Global Green & Bio-Solvents Market is anticipated to grow at a robust CAGR during the forecast period, 2024-2027. This can be ascribed to the growing demand for green chemicals among the population. Additionally, growing environmental awareness and imposition of regulations to reduce greenhouse and volatile organic compounds emissions is expected to support the market growth through 2028. Besides, growing application of green & Biosolvents among various applications such as cleaning, plant protection oil, wetting agents, among others is further expected to support the market growth in the coming years.
Green & Bio-Solvents are generated from crops and are an environmentally beneficial alternative to conventional solvents. These organic solvents have many benefits, including reducing labor exposure to dangerous substances and protecting workspaces. Reducing the number of chemical compounds discharged into the air from coated surfaces like furniture and flooring increases security in homes and buildings. They also aid in reducing manufacturing operations' impact on the environment. This in turn is expected to support the market growth in the coming years.
Increasing Concern for Environmental Protection
Volatile Organic Compounds (VOC) evaporate rapidly in the air and contribute to smog formation. Rapid evaporation of volatile organic compounds (VOC) is a factor contributing to smog development. Smog causes damage to the environment and human health. Most of the solvents and chemicals emit VOCs causing harm to the environment. The growing VOC emissions requires alternatives in order to protect the environment. The United States emitted approximately 11.9 million tons of volatile organic compounds (VOC) in 2021. In comparison to the traditionally used petrochemical-based solvents, green & bio-solvents emit a lesser amount of volatile organic compounds (VOCs) while manufacturing and handling. Hence are being extensively used across wide application arenas such as manufacturing of agrochemicals, paints & coatings, adhesives & sealants, among others.
Growing adoption of green and bio-based solvents across various End User Industries
The market has expanded because of the increased use of green and bio-based solvents in a wide range of industries, including paints and coatings, pharmaceuticals, and cosmetics. Throughout the forecast period, the market for green solvents would continue to be led by the paints and coatings application segment. The use of green solvent in the paint and coating industry is fueled by growing environmental concerns as well as growing consumer awareness of eco-friendly products. However, according to the European Solvents Industry Group (ESIG), five million tonnes of solvents are consumed yearly in Europe, of which only 13% are bio-based solvents. Additionally, on the global level, biobased solvents only account for 12% of the total market.
Recent Developments
The use of green and biobased solvents in asymmetric organocatalysis is growing due to several advantages over conventional catalytic techniques, including the operational simplicity of the organocatalytic processes, the tolerance to different functional groups, the high diversity of the available organic molecules, and the stability and non-toxicity of the catalyst. Additionally, asymmetric hydrogen-bonding organocatalytic processes have been conducted using biobased solvents.
Market Segmentation
Global Green & Bio-Solvents Market is segmented based on type, and application. Based on type, the global Green & Bio-Solvents Market can be divided into Bio-Alcohols, Bio-Diols, Bio-Glycols, Methyl Soyate Solvents, Lactate Esters, and Others. Based on Application, the market is divided into Paints and Coatings, Adhesives and Sealants, Cleaning Products, Printing Inks and Others. Regionally, the global green & bio-solvents market can be categorized into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Market players
Archer Daniels Midland Company, BASF SE, Cargill Incorporated, Cremer oleo GmbH & Co. KG, Dow Inc., Elevance Renewable Sciences Inc., Florachem Corporation, Huntsman Corporation, LyondellBasell Industries N.V. and Vertec Biosolvents Inc. are some of the key players operating in the market.
Report Scope:
In this report, Global Green & Bio-Solvents market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Green & Bio-Solvents Market, By Type:
o Bio-Alcohols
o Bio-Diols
o Bio-Glycols
o Methyl Soyate Solvents
o Lactate Esters
o Others
- Green & Bio-Solvents Market, By Application:
o Paints and Coatings
o Adhesives and Sealants
o Cleaning Products
o Printing Inks
o Others
- Green & Bio-Solvents Market, By Region:
o Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
o North America
- United States
- Canada
- Mexico
o Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
o Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Turkey
- South Africa
o South America
- Brazil
- Argentina
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Green & Bio-Solvents Market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Research Data
2.3.1. Secondary Data
2.3.2. Primary Data
2.4. Market Size Estimation
2.4.1. Bottom-Up Approach
2.4.2. Top-Down Approach
2.5. Market Breakdown & Triangulation
2.6. Research Assumptions
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. Impact of COVID-19 on Global Green & Bio-Solvents Market
5. Impact of Russia-Ukraine War on Global Green & Bio-Solvents Market
6. Global Green & Bio-Solvents Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Type (Bio-Alcohols, Bio-Diols, Bio-Glycols, Methyl Soyate Solvents, Lactate Esters, and Others)
6.2.2. By Application (Paints and Coatings, Adhesives and Sealants, Cleaning Products, Printing Inks and Others)
6.2.3. By Region (Europe, North America, Asia Pacific, South America, Middle East & Africa)
6.2.4. By Company (2021)
6.3. Market Map
6.3.1. By Type
6.3.2. By Application
6.3.3. By Region
6.4. Pricing Analysis
7. Europe Green & Bio-Solvents Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Type (Bio-Alcohols, Bio-Diols, Bio-Glycols, Methyl Soyate Solvents, Lactate Esters, and Others)
7.2.2. By Application (Paints and Coatings, Adhesives and Sealants, Cleaning Products, Printing Inks and Others)
7.2.3. By Region
7.3. Pricing Analysis
7.4. Europe: Country Analysis
7.4.1. France Green & Bio-Solvents Market Outlook
7.4.1.1. Market Size & Forecast
7.4.1.1.1. By Value & Volume
7.4.1.2. Market Share & Forecast
7.4.1.2.1. By Type
7.4.1.2.2. By Application
7.4.2. Germany Green & Bio-Solvents Market Outlook
7.4.2.1. Market Size & Forecast
7.4.2.1.1. By Value & Volume
7.4.2.2. Market Share & Forecast
7.4.2.2.1. By Type
7.4.2.2.2. By Application
7.4.3. United Kingdom Green & Bio-Solvents Market Outlook
7.4.3.1. Market Size & Forecast
7.4.3.1.1. By Value & Volume
7.4.3.2. Market Share & Forecast
7.4.3.2.1. By Type
7.4.3.2.2. By Application
7.4.4. Italy Green & Bio-Solvents Market Outlook
7.4.4.1. Market Size & Forecast
7.4.4.1.1. By Value & Volume
7.4.4.2. Market Share & Forecast
7.4.4.2.1. By Type
7.4.4.2.2. By Application
7.4.5. Spain Green & Bio-Solvents Market Outlook
7.4.5.1. Market Size & Forecast
7.4.5.1.1. By Value & Volume
7.4.5.2. Market Share & Forecast
7.4.5.2.1. By Type
7.4.5.2.2. By Application
8. North America Green & Bio-Solvents Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Type (Bio-Alcohols, Bio-Diols, Bio-Glycols, Methyl Soyate Solvents, Lactate Esters, and Others)
8.2.2. By Application (Paints and Coatings, Adhesives and Sealants, Cleaning Products, Printing Inks and Others)
8.2.3. By Region
8.3. Pricing Analysis
8.4. North America: Country Analysis
8.4.1. United States Green & Bio-Solvents Market Outlook
8.4.1.1. Market Size & Forecast
8.4.1.1.1. By Value & Volume
8.4.1.2. Market Share & Forecast
8.4.1.2.1. By Type
8.4.1.2.2. By Application
8.4.2. Canada Green & Bio-Solvents Market Outlook
8.4.2.1. Market Size & Forecast
8.4.2.1.1. By Value & Volume
8.4.2.2. Market Share & Forecast
8.4.2.2.1. By Type
8.4.2.2.2. By Application
8.4.3. Mexico Green & Bio-Solvents Market Outlook
8.4.3.1. Market Size & Forecast
8.4.3.1.1. By Value & Volume
8.4.3.2. Market Share & Forecast
8.4.3.2.1. By Type
8.4.3.2.2. By Application
9. Asia-Pacific Green & Bio-Solvents Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Type (Bio-Alcohols, Bio-Diols, Bio-Glycols, Methyl Soyate Solvents, Lactate Esters, and Others)
9.2.2. By Application (Paints and Coatings, Adhesives and Sealants, Cleaning Products, Printing Inks and Others)
9.2.3. By Region
9.3. Pricing Analysis
9.4. Asia-Pacific: Country Analysis
9.4.1. China Green & Bio-Solvents Market Outlook
9.4.1.1. Market Size & Forecast
9.4.1.1.1. By Value & Volume
9.4.1.2. Market Share & Forecast
9.4.1.2.1. By Type
9.4.1.2.2. By Application
9.4.2. India Green & Bio-Solvents Market Outlook
9.4.2.1. Market Size & Forecast
9.4.2.1.1. By Value & Volume
9.4.2.2. Market Share & Forecast
9.4.2.2.1. By Type
9.4.2.2.2. By Application
9.4.3. Japan Green & Bio-Solvents Market Outlook
9.4.3.1. Market Size & Forecast
9.4.3.1.1. By Value & Volume
9.4.3.2. Market Share & Forecast
9.4.3.2.1. By Type
9.4.3.2.2. By Application
9.4.4. South Korea Green & Bio-Solvents Market Outlook
9.4.4.1. Market Size & Forecast
9.4.4.1.1. By Value & Volume
9.4.4.2. Market Share & Forecast
9.4.4.2.1. By Type
9.4.4.2.2. By Application
9.4.5. Australia Green & Bio-Solvents Market Outlook
9.4.5.1. Market Size & Forecast
9.4.5.1.1. By Value & Volume
9.4.5.2. Market Share & Forecast
9.4.5.2.1. By Type
9.4.5.2.2. By Application
10. Middle East and Africa Green & Bio-Solvents Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Type (Bio-Alcohols, Bio-Diols, Bio-Glycols, Methyl Soyate Solvents, Lactate Esters, and Others)
10.2.2. By Application (Paints and Coatings, Adhesives and Sealants, Cleaning Products, Printing Inks and Others)
10.2.3. By Region
10.3. Pricing Analysis
10.4. MEA: Country Analysis
10.4.1. Saudi Arabia Green & Bio-Solvents Market Outlook
10.4.1.1. Market Size & Forecast
10.4.1.1.1. By Value & Volume
10.4.1.2. Market Share & Forecast
10.4.1.2.1. By Type
10.4.1.2.2. By Application
10.4.2. UAE Green & Bio-Solvents Market Outlook
10.4.2.1. Market Size & Forecast
10.4.2.1.1. By Value & Volume
10.4.2.2. Market Share & Forecast
10.4.2.2.1. By Type
10.4.2.2.2. By Application
10.4.3. Egypt Green & Bio-Solvents Market Outlook
10.4.3.1. Market Size & Forecast
10.4.3.1.1. By Value & Volume
10.4.3.2. Market Share & Forecast
10.4.3.2.1. By Type
10.4.3.2.2. By Application
10.4.4. Turkey Green & Bio-Solvents Market Outlook
10.4.4.1. Market Size & Forecast
10.4.4.1.1. By Value & Volume
10.4.4.2. Market Share & Forecast
10.4.4.2.1. By Type
10.4.4.2.2. By Application
10.4.5. South Africa Green & Bio-Solvents Market Outlook
10.4.5.1. Market Size & Forecast
10.4.5.1.1. By Value & Volume
10.4.5.2. Market Share & Forecast
10.4.5.2.1. By Type
10.4.5.2.2. By Application
11. South America Green & Bio-Solvents Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value & Volume
11.2. Market Share & Forecast
11.2.1. By Type (Bio-Alcohols, Bio-Diols, Bio-Glycols, Methyl Soyate Solvents, Lactate Esters, and Others)
11.2.2. By Application (Paints and Coatings, Adhesives and Sealants, Cleaning Products, Printing Inks and Others)
11.2.3. By Region
11.3. Pricing Analysis
11.4. South America: Country Analysis
11.4.1. Brazil Green & Bio-Solvents Market Outlook
11.4.1.1. Market Size & Forecast
11.4.1.1.1. By Value & Volume
11.4.1.2. Market Share & Forecast
11.4.1.2.1. By Type
11.4.1.2.2. By Application
11.4.2. Argentina Green & Bio-Solvents Market Outlook
11.4.2.1. Market Size & Forecast
11.4.2.1.1. By Value & Volume
11.4.2.2. Market Share & Forecast
11.4.2.2.1. By Type
11.4.2.2.2. By Application
12. Market Dynamics
12.1. Drivers
12.1.1. Eco-friendly and lower VOC emissions
12.1.2. Market penetration is expanding and needs to decarbonize economy
12.1.3. Stringent Rules and Regulations laid by the government
12.2. Challenges
12.2.1. Concerns over the supply of raw materials
12.2.2. Regulatory challenges
13. Market Trends & Developments
13.1. Technological Advancements
13.2. Rigorous Green & Bio-Solvent Research & Development
14. Global Green & Bio-Solvents: SWOT Analysis
15. Porter's Five Forces Analysis
15.1. Competition in the Industry
15.2. Potential of New Entrants
15.3. Power of Suppliers
15.4. Power of Customers
15.5. Threat of Substitute Products
16. Competitive Landscape
16.1. Business Overview
16.2. Company Snapshot
16.3. Products & Services
16.4. Financials (In case of listed companies)
16.5. Recent Developments
16.6. SWOT Analysis
16.6.1. Archer Daniels Midland Company
16.6.2. BASF SE
16.6.3. Cargill Incorporated
16.6.4. Cremer oleo GmbH & Co. KG
16.6.5. Dow Inc.
16.6.6. Elevance Renewable Sciences Inc.
16.6.7. Florachem Corporation
16.6.8. Huntsman Corporation
16.6.9. LyondellBasell Industries N.V.
16.6.10. Vertec Biosolvents Inc.
17. Strategic Recommendations
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