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Report
Green Solvents: Technologies, Emerging Opportunities and Markets
Market Research Report I 2024-10-08 I 119 Pages I BCC Research
Description
Report Scope
This report analyzes the global market for green solvents by segmenting it based on material, application and region. These market segments are analyzed at the global and regional levels. The base year for this analysis is 2023 and market estimates and forecasts are given from 2024 through 2029. The market estimates are provided in terms of volume (kilo tons) and revenue ($ millions).
Based on material, the market is segmented into:
- Bio-based alcohol, glycol, diols.
- D-limonene.
- Fatty acid methyl esters (FAME).
- Lactate esters.
- Others.
Bio-based alcohol, glycol and diols are further bifurcated into:
- Bioethanol.
- Biobutanol.
- Bio-PG.
- Bio-BDO.
- Glycerol and derivatives.
- Others.
Based on application, the market is segmented into:
- Paints and coatings.
- Cosmetics.
- Printing inks.
- Cleaning products.
- Adhesives and sealants.
- Pharmaceuticals.
- Others.
Based on region, the market is segmented into:
- North America.
- Europe.
- Asia-Pacific.
- Rest of the World (RoW).
Report Includes
- 72 data tables and 25 additional tables
- An analysis of trends, technologies and opportunities in the global market for green solvents
- Analyses of the industry structure, with market revenue data from 2023, estimates for 2024, forecasts for 2028, and projected CAGRs through 2029
- Estimates of the market size and growth forecasts both in value and volumetric terms, and a corresponding market share analysis by material type, application, and region
- Facts and figures pertaining to the market dynamics, technology advances, regulatory landscape, and the impact of macroeconomic variables
- Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, ESG score analysis, and the ESG practices of leading companies
- Analysis of the competitive intelligence, including company shares, strategic alliances, M&A activity and venture fundings outlook
- Company profiles of market leaders, including ADM, Braskem, Cargill Inc., Corbion, and BASF SE
Executive Summary
Summary:
Green solvents, also known as environmentally friendly or sustainable solvents, are typically produced through crop processing. Various types of green solvents include water, supercritical water, ionic liquids and fluids. These alternatives are more environmentally friendly, non-toxic and safer compared with conventional volatile organic compounds (VOCs).
In industrial applications, eco-friendly green solvents help minimize the environmental footprint of the application. They are formulated with two primary goals: reducing toxicity and conserving energy resources. The green and bio-based solvents market is expected to grow significantly in the coming years, driven by strict regulations on VOC emissions and other hazardous air pollutants and increasing adoption in the Asia-Pacific region.
The shift from petrochemical and fuel products to renewable resources, along with growing government support for research into green and bio-based solvents, presents significant opportunities for market growth. The demand for eco-friendly paints and coatings has risen due to favorable regulations from entities like the European Commission (EC) and the Eco-product Certification Scheme (ECS). These solvents are crucial in dispersing or dissolving compounds used in paint production. These regulations are designed to promote the use of sustainable materials in paint production. As these regulations become more prevalent, they catalyze the adoption of green solvents, essential for dispersing or dissolving compounds in paint. This regulatory push is one of the major forces propelling the growth of the green solvents market.
The packaging industry, which uses green solvent-based sealants and adhesives for bonding applications, has grown rapidly due to increased demand for consumer goods. These factors are expected to drive market expansion during the forecast period.
Among the various green solvents, lactate esters are expected to grow at a significant rate. This prominence is due to their widespread use in pharmaceuticals, industrial applications and personal care products. Lactate esters offer several advantages, making them attractive alternatives to traditional petroleum-based solvents. They are easily recyclable, non-corrosive, 100% biodegradable and do not contribute to ozone depletion. These properties, combined with the potential for cost reductions in their production, make lactate esters a compelling choice for a variety of applications, including paints and coatings.
ADM, Braskem, Cargill, Corbion, BASF SE, Dow, Solvay and LyondellBasell are some major green solvent producers. These companies engage in R&D to produce eco-friendly and sustainable products. They also focus on expanding their product portfolio and strengthening the supply chain network to capture market share.
Four geographical regions have been identified for the green solvents market: North America, AsiaPacific, Europe and the Rest of the World (the Middle East and Africa and Latin America). In 2023, North America dominated the global market for green solvents. A few of the major factors propelling the regional market are the presence of several green solvents manufacturing companies in the region, technological advances and stringent regulation on the use of petroleum-based products.
Table of Contents
Chapter 1 Executive Summary
Market Outlook
Scope of Report
Market Summary
Chapter 2 Market Overview
Green Solvents
Traditional Solvents Vs. Green Solvents
Applications of Green Solvents
Supply Chain Analysis
Feedstock
Green Solvents
Distribution and Logistics
Consumers
Porter's Five Forces Analysis
Bargaining Power of Suppliers: Moderate
Competition in the Industry: High
Threat of Substitutes: Moderate
Threat of Market Entry: Moderate
Bargaining Power of Buyers: Moderate
Chapter 3 Market Dynamics
Overview
Market Drivers
Increasing Demand for Bio-based Coatings
Stringent Environmental Regulations
Increasing Use of Green Solvents by End Users
Market Opportunities
Technological Advances in Green Chemistry
Expansion in End-use Markets
Market Challenges
The High Production Cost of Green Solvents
Market Competition from Traditional Solvents
Chapter 4 Regulatory Landscape
Regulatory Analysis
Environmental Regulations
Safety and Health Regulations
Industry-specific Regulations
Chapter 5 Emerging Technologies
Technological Advances
Bio-based Feedstocks
Innovation in Production Technologies
Green Solvents Application
Technological Challenges and Future Scope
Chapter 6 Market Segmentation Analysis
Segmentation Breakdown
Market Analysis by Material
Bio-based Alcohol, Glycol, Diols
D-limonene
Fatty Acid Methyl Esters (FAME)
Lactate Esters
Other Green Solvents
Market Analysis by Application
Paints and Coatings
Cosmetics
Printing inks
Cleaning Products
Adhesives and Sealants
Pharmaceuticals
Other Applications
Geographic Breakdown
Market Analysis by Region
North America
Europe
Asia-Pacific
Rest of the World
Chapter 7 Competitive Landscape
Market Competitiveness
Market Player Positioning
Company Revenue
Product Portfolio
Geographic Presence
Market Player Positioning Analysis
Chapter 8 Sustainability in Green Solvents Industry: An ESG Perspective
Importance of ESG in the Green Solvents Industry
ESG Practices in the Green Solvents Industry
Emerging Sustainability Trends
Concluding Remarks from BCC Research
Chapter 9 Appendix
Methodology
Information Sources
References
Abbreviations
Company Profiles
ADM
ASTROBIO
BASF SE
BIO BRANDS LLC.
BRASKEM
CARGILL INC.
CORBION
DOW
LYONDELLBASELL INDUSTRIES HOLDINGS B.V.
SOLVAY
List of Tables
Summary Table : Global Market for Green Solvents, by Region, Through 2029
Table 1 : Regulations on Green Solvents Market, 2023
Table 2 : Global Market Volume for Green Solvents, by Material, Through 2029
Table 3 : Global Market for Green Solvents, by Material, Through 2029
Table 4 : Global Market Volume for Bio-based Alcohol, Glycol and Diols, by Type, Through 2029
Table 5 : Global Market for Bio-based Alcohol, Glycol and Diols, by Type, Through 2029
Table 6 : Global Market Volume for Bio-based Alcohol, Glycol and Diols, by Region, Through 2029
Table 7 : Global Market for Bio-based Alcohol, Glycol and Diols, by Region, Through 2029
Table 8 : Global Market Volume for D-limonene, by Region, Through 2029
Table 9 : Global Market for D-limonene, by Region, Through 2029
Table 10 : Global Market Volume for FAME, by Region, Through 2029
Table 11 : Global Market for FAME, by Region, Through 2029
Table 12 : Global Market Volume for Lactate Esters, by Region, Through 2029
Table 13 : Global Market for Lactate Esters, by Region, Through 2029
Table 14 : Global Market Volume for Other Green Solvents, by Region, Through 2029
Table 15 : Global Market for Other Green Solvents, by Region, Through 2029
Table 16 : Global Market Volume for Green Solvents, by Application, Through 2029
Table 17 : Global Market for Green Solvents, by Application, Through 2029
Table 18 : Global Market Volume for Green Solvents for Paints and Coatings, by Region, Through 2029
Table 19 : Global Market for Green Solvents for Paints and Coatings, by Region, Through 2029
Table 20 : Global Market Volume for Green Solvents for Cosmetics, by Region, Through 2029
Table 21 : Global Market for Green Solvents for Cosmetics, by Region, Through 2029
Table 22 : Global Market Volume for Green Solvents for Printing Inks, by Region, Through 2029
Table 23 : Global Market for Green Solvents for Printing Inks, by Region, Through 2029
Table 24 : Global Market Volume for Green Solvents for Cleaning Products, by Region, Through 2029
Table 25 : Global Market for Green Solvents for Cleaning Products, by Region, Through 2029
Table 26 : Global Market Volume for Green Solvents for Adhesives and Sealants, by Region, Through 2029
Table 27 : Global Market for Green Solvents for Adhesives and Sealants, by Region, Through 2029
Table 28 : Global Market Volume for Green Solvents for Pharmaceuticals, by Region, Through 2029
Table 29 : Global Market for Green Solvents for Pharmaceuticals, by Region, Through 2029
Table 30 : Global Market Volume for Green Solvents for Other Applications, by Region, Through 2029
Table 31 : Global Market for Green Solvents for Other Applications, by Region, Through 2029
Table 32 : Global Market Volume for Green Solvents, by Region, Through 2029
Table 33 : Global Market for Green Solvents, by Region, Through 2029
Table 34 : North American Market Volume for Green Solvents, by Country, Through 2029
Table 35 : North American Market for Green Solvents, by Country, Through 2029
Table 36 : North American Market Volume for Green Solvents, by Material, Through 2029
Table 37 : North American Market for Green Solvents, by Material, Through 2029
Table 38 : North American Market Volume for Bio-based Alcohol, Glycol and Diols, by Type, Through 2029
Table 39 : North American Market for Bio-based Alcohol, Glycol and Diols, by Type, Through 2029
Table 40 : North American Market Volume for Green Solvents, by Application, Through 2029
Table 41 : North American Market for Green Solvents, by Application, Through 2029
Table 42 : European Market Volume for Green Solvents, by Country, Through 2029
Table 43 : European Market for Green Solvents, by Country, Through 2029
Table 44 : European Market Volume for Green Solvents, by Material, Through 2029
Table 45 : European Market for Green Solvents, by Material, Through 2029
Table 46 : European Market Volume for Bio-based Alcohol, Glycol and Diols, by Type, Through 2029
Table 47 : European Market for Bio-based Alcohol, Glycol and Diols, by Type, Through 2029
Table 48 : European Market Volume for Green Solvents, by Application, Through 2029
Table 49 : European Market for Green Solvents, by Application, Through 2029
Table 50 : Asia-Pacific Market Volume for Green Solvents, by Country, Through 2029
Table 51 : Asia-Pacific Market for Green Solvents, by Country, Through 2029
Table 52 : Asia-Pacific Market Volume for Green Solvents, by Material, Through 2029
Table 53 : Asia-Pacific Market for Green Solvents, by Material, Through 2029
Table 54 : Asia-Pacific Market Volume for Bio-based Alcohol, Glycol and Diols, by Type, Through 2029
Table 55 : Asia-Pacific Market for Bio-based Alcohol, Glycol and Diols, by Type, Through 2029
Table 56 : Asia-Pacific Market Volume for Green Solvents, by Application, Through 2029
Table 57 : Asia-Pacific Market for Green Solvents, by Application, Through 2029
Table 58 : Rest of the World Market Volume for Green Solvents, by Sub-region, Through 2029
Table 59 : Rest of the World Market for Green Solvents, by Sub-region, Through 2029
Table 60 : Rest of the World Market Volume for Green Solvents, by Material, Through 2029
Table 61 : Rest of the World Market for Green Solvents, by Material, Through 2029
Table 62 : Rest of the World Market Volume for Bio-based Alcohol, Glycol and Diols, by Type, Through 2029
Table 63 : Rest of the World Market for Bio-based Alcohol, Glycol and Diols, by Type, Through 2029
Table 64 : Rest of the World Market Volume for Green Solvents, by Application, Through 2029
Table 65 : Rest of the World Market for Green Solvents, by Application, Through 2029
Table 66 : ESG Carbon Footprint Issue Analysis
Table 67 : Abbreviations Used in This Report
Table 68 : ADM: Company Snapshot
Table 69 : ADM: Financial Performance, FY 2022 and 2023
Table 70 : ADM: Product Portfolio
Table 71 : Astrobio: Company Snapshot
Table 72 : Astrobio: Product Portfolio
Table 73 : BASF SE: Company Snapshot
Table 74 : BASF SE: Financial Performance, FY 2022 and 2023
Table 75 : BASF SE: Product Portfolio
Table 76 : BASF SE: News/Key Developments, 2023
Table 77 : Bio Brands LLC.: Company Snapshot
Table 78 : Bio Brands LLC.: Product Portfolio
Table 79 : Braskem: Company Snapshot
Table 80 : Braskem: Financial Performance, FY 2022 and 2023
Table 81 : Braskem: Product Portfolio
Table 82 : Cargill Inc.: Company Snapshot
Table 83 : Cargill Inc.: Product Portfolio
Table 84 : Corbion: Company Snapshot
Table 85 : Corbion: Financial Performance, FY 2022 and 2023
Table 86 : Corbion: Product Portfolio
Table 87 : Dow: Company Snapshot
Table 88 : Dow: Financial Performance, FY 2022 and 2023
Table 89 : Dow: Product Portfolio
Table 90 : Dow: News/Key Developments, 2024
Table 91 : LyondellBasell Industries Holdings B.V.: Company Snapshot
Table 92 : LyondellBasell Industries Holdings B.V.: Financial Performance, FY 2022 and 2023
Table 93 : LyondellBasell Industries Holdings B.V.: Product Portfolio
Table 94 : Solvay: Company Snapshot
Table 95 : Solvay: Financial Performance, FY 2022 and 2023
Table 96 : Solvay: Product Portfolio
List of Figures
Summary Figure : Global Market for Green Solvents, by Region, 2023-2029
Figure 1 : Different Types of Green Solvents
Figure 2 : Ecosystem of Supply Chain Partners: Green Solvents
Figure 3 : Porter's Five Forces Analysis: Market for Green Solvents
Figure 4 : Snapshot of the Market Dynamics for Green Solvents
Figure 5 : Global Market Shares of Green Solvents, by Material, 2023
Figure 6 : Global Market Shares of Bio-based Alcohol, Glycol and Diols, by Type, 2023
Figure 7 : Global Market Shares of Bio-based Alcohol, Glycol and Diols, by Region, 2023
Figure 8 : Global Market Shares of D-limonene, by Region, 2023
Figure 9 : Global Market Shares of FAME, by Region, 2023
Figure 10 : Global Market Shares of Lactate Esters, by Region, 2023
Figure 11 : Global Market Shares of Other Green Solvents, by Region, 2023
Figure 12 : Global Market Shares of Green Solvents, by Application, 2023
Figure 13 : Global Market Shares of Green Solvents for Paints and Coatings, by Region, 2023
Figure 14 : Global Market Shares of Green Solvents for Cosmetics, by Region, 2023
Figure 15 : Global Market Shares of Green Solvents for Printing Inks, by Region, 2023
Figure 16 : Global Market Shares of Green Solvents for Cleaning Products, by Region, 2023
Figure 17 : Global Market Shares of Green Solvents for Adhesives and Sealants, by Region, 2023
Figure 18 : Global Market Shares of Green Solvents for Pharmaceuticals, by Region, 2023
Figure 19 : Global Market Shares of Green Solvents for Other Applications, by Region, 2023
Figure 20 : Global Market Shares of Green Solvents, by Region, 2023
Figure 21 : North American Market Shares of Green Solvents, by Country, 2023
Figure 22 : North American Market Shares of Green Solvents, by Material, 2023
Figure 23 : North American Market Shares of Bio-based Alcohol, Glycol and Diols, by Type, 2023
Figure 24 : North American Market Shares of Green Solvents, by Application, 2023
Figure 25 : European Market Shares of Green Solvents, by Country, 2023
Figure 26 : European Market Shares of Green Solvents, by Material, 2023
Figure 27 : European Market Shares of Bio-based Alcohol, Glycol and Diols, by Type, 2023
Figure 28 : European Market Shares of Green Solvents, by Application, 2023
Figure 29 : Asia-Pacific Market Shares of Green Solvents, by Country, 2023
Figure 30 : Asia-Pacific Market Shares of Green Solvents, by Material, 2023
Figure 31 : Asia-Pacific Market Shares of Bio-based Alcohol, Glycol and Diols, by Type, 2023
Figure 32 : Asia-Pacific Market Shares of Green Solvents, by Application, 2023
Figure 33 : Rest of the World Market Shares of Green Solvents, by Sub-region, 2023
Figure 34 : Rest of the World Market Shares of Green Solvents, by Material, 2023
Figure 35 : Rest of the World Market Shares of Bio-based Alcohol, Glycol and Diols, by Type, 2023
Figure 36 : Rest of the World Market Shares of Green Solvents, by Application, 2023
Figure 37 : Market Entry Strategies: Suggestions for Small- and Medium-Sized Players
Figure 38 : Market Player Positioning Analysis, 2023
Figure 39 : ESG Factors in the Market for Sustainable Packaging
Figure 40 : ADM: Revenue Share, by Business Unit, FY 2023
Figure 41 : ADM: Revenue Share, by Country/Region, FY 2023
Figure 42 : BASF SE: Revenue Share, by Business Unit, FY 2023
Figure 43 : BASF SE: Revenue Share, by Country/Region, FY 2023
Figure 44 : Braskem: Revenue Share, by Region/Country, FY 2023
Figure 45 : Corbion: Revenue Share, by Business Unit, FY 2022
Figure 46 : Corbion: Revenue Share, by Region, FY 2022
Figure 47 : Dow: Revenue Share, by Business Unit, FY 2023
Figure 48 : Dow: Revenue Share, by Country/Region, FY 2023
Figure 49 : LyondellBasell Industries Holdings B.V.: Revenue Share, by Business Unit, FY 2023
Figure 50 : LyondellBasell Industries Holdings B.V.: Revenue Share, by Country/Region, FY 2023
Figure 51 : Solvay: Revenue Share, by Business Unit, FY 2023
Figure 52 : Solvay: Revenue Share, by Country/Region, FY 2023
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