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Green Solvents & Bio Solvents Market to Reflect Impressive Growth Rate of 9.4% by 2026 | Global Key Players - The dow chemical company, BASF SE, E.I. Dupont de nemours & co., Cargill, Huntsman Corporation, Florida Chemicals Company
Green Solvents & Bio Solvents Market OverviewThe Global Green Solvents & Bio Solvents market is expected to grow from $5.50 billion in 2017 to reach $12.31 billion by 2026 with a CAGR of 9.4%. Rising government support for make inquiries on green and bio-based solvents and severe parameter on VOC emissions and other hazardous air pollutants are some of the factors attributing the growth of the market. Huge manufacturing price and uncertainty about feedstock supplies is hampering the growth of the market. Transition of petro-chemical and fuel products and goods towards renewable resources is providing ample opportunities in boosting the market in the near future.
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Green solvents are solvents made from naturally occurring resources like plants, fruits, seeds and other. These are non-diffusing Volatile Organic Compounds, and their distinctiveness is low miscibility & toxicity, easier biodegradability under ecological conditions. They are being used more than conventional solvents, as they are less toxic, easy to recycle and have a high boiling point. Environmental concerns have led to industrial participants investing to developer cheaper and superior green solvents.
Key players:
Some of the key players in global green solvents & bio solvents the market includes The dow chemical company, BASF SE, E.I. Dupont de nemours & co., Cargill Inc., Huntsman Corporation, Florida Chemicals Company Inc., Vertec Biosolvents Inc., LyondellBasell, Circa Group, Archer Daniels Midland Company, Bioamber Inc., Cremer Oleo GmbH & Co., Myriant Corporation, Shenzhen Esun Industrial Co. LTD, Sucrogen Bioethanol PTY LTD, Pinova Holdings INC, Diacel Chemical Industries Ltd, Genomatica INC, Exxon Mobil Corporation and PetroleoBrasileiroS.A.
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Market Segmentation:
Based on end user, Paints & Coatings section holds more shares and profits of the global green and bio-based solvents market. Rising ecological concerns in conjunction with growing customer awareness towards environmental-friendly products fuels the acceptance of green solvent in paints and coating industry.
Depending on geography, Asia pacific market has attributed sluggish growth over the last few years. Rising economies such as India, China, Malaysia, Indonesia, Russia, Thailand and Brazil are predicted to witness quick expansion in the green solvents market. Such healthy demand can be propel to construction initiatives and government initiatives regarding health and environment.
Types Covered:
• Methyl Soyate
• Diols & Glycols
• Esters
• D-Limonene
• Hydrogen Peroxide
• Alcohols
• 2-Methyltetrahydrofuran
• Other Types
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