Global Green Solvents Market Size, Share, Reveneu Estimation, Emerging Trends, Growth and Forecast to 2030

Manufacturing of organic chemicals and other products has historically largely been dependent on petroleum feedstocks, a finite resource which is becoming increasingly expensive and for which renewable replacements are needed. Green Chemistry is helping to drive forward the uptake of renewable resources as a substitute for fossil feedstocks and to move towards a more circular economy approach in resource utilisation. Green Solvent or bio-based solvents is one of a kind renewable resource solvent derived from agricultural crops such as corn and soybean. Its use provides several benefits such as reduced toxicity, biodegradability, low volatile organic compounds (VOC), worker safety and environmental friendliness.

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The green solvent can be manufacture using several base compounds such as alcohol, ester, ether, hydrocarbon, and dipolar aprotic but the ester type green solvent is used in many industries because of its versatility, low price comparatively to others, and easy access to the solvents based on this compound.

North America is a major player in the green solvent market due to strict rules and regulation set by the government with respect to emission levels and government funding for eco-friendly chemicals. However, increasing oil & gas activity in the region reduce petrochemical price and increase conventional solvents production due to higher profit margin, which may restrain the market in the region.

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The rising adoption of eco-friendly solvents among various industries, such as paints & coatings and printing inks, are the key factors driving the growth of the green solvents market across the world because prolonged exposure to conventional solvents has a harmful impact on all living organisms, damaging most organs. Further the Montreal Protocol toward protecting the ozone from depletion are boosting the demand for eco-friendly solvents. However, to some extent, the growth of the market is being hindered by the high cost of production of green solvents, since the technology employed for their production is quite expensive.

Green Solvents Market Competitive Landscape

Some of the major companies operating in the global green solvents market are BASF SE, BioAmber Inc., Genomatica Inc., CytoCulture International Inc., Solvay S.A., The Dow Chemical Company, Cargill Incorporated, Vertec Biosolvents Inc., Florida Chemical Company, and Nachmann S.r.l.

The study provides the historical as well the forecast market size for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, South Korea, Brazil, Argentina, Saudi Arabia, and South Africa.

Green/Bio-Based Solvents Market Size Breakdown by Segment

Based on Type

Alcohol
Ester
Ether
Hydrocarbon
Dipolar Aprotic
Based on Application

Paints & Coatings
Industrial & Domestic Cleaners
Adhesives
Printing Inks
Geographical Analysis

North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Asia-Pacific (APAC)
China
Japan
India
South Korea
Latin America (LATAM)
Brazil
Argentina
Middle East & Africa (MEA)
South Africa
Saudi Arabia

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This release was published on openPR.