Green-Bio-based Solvents Market Growth Factors, Segmentation, Trends, Opportunities, Key Players and Forecast | Evolve Business Intelligence

As per the study initiated by Evolve Business Intelligence, the global Green-Bio-based Solvents Market size accounted for USD 4.2 Billion in 2022, growing at a CAGR of 7.6% from 2023 to 2033. The Green-Bio-based Solvents Market refers to the market for solvents derived from renewable biological sources such as plants, agricultural waste, and microorganisms. These solvents are considered eco-friendly and sustainable alternatives to traditional petroleum-based solvents, which have detrimental environmental impacts due to their non-renewable nature and potential toxicity.

Request/Download PDF Sample: https://report.evolvebi.com/index.php/sample/request?referer=OpenPR&reportCode=021976

The Green-Bio-based Solvents Market is primarily driven by the Growing awareness of the environmental impact of traditional solvents. Consumers and businesses are increasingly aware of the environmental damage caused by conventional petroleum-based solvents, including air and water pollution, ozone depletion, and greenhouse gas emissions. This awareness is driving the demand for eco-friendly alternatives like bio-based solvents.

Key Players
Some of the major Green-Bio-based Solvents Market players holding high market shares include Solvay, Archer Daniels Midland Company, BASF SE, DowDuPont, Vertec BioSolvents and CREMER OLEO GmbH & Co. KG. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Cargill Incorporated, Corbion, Merck KGaA, LyondellBasell Industries Holdings B.V. and Galactic.

Report Description: https://report.evolvebi.com/index.php/sample/request?referer=OpenPR&reportCode=021976

Segmental Analysis
Based on Type, the Green-Bio-based Solvents Market is segmented into Esters, Alcohols and D-Limonene. Esters are chemical compounds derived from the reaction between an organic acid and an alcohol. In the context of bio-based solvents, esters are often sourced from renewable feedstocks such as plant oils. Esters are used in a variety of applications, including paints and coatings, adhesives, and printing inks. They can also be found in cleaning products and as solvent carriers in various formulations.
Based on Application, the Green-Bio-based Solvents Market is segmented into Paints and Coatings, Industrial & Domestic Cleaning, Printing Inks and Pharmaceutical. The paints & coatings segment dominated the global market. This is attributed to factors such as sustained economic growth coupled with rise in foreign direct investment (FDI) inflow in building & construction sector, which in turn has increased the demand for green/bio-based solvents.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

Address
Evolve Business Intelligence
C-218, 2nd floor, M-Cube
Gujarat 396191
India
Email: sales@evolvebi.com
Website: https://evolvebi.com/

About EvolveBI
Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool - EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from fortune's global 2000 companies.

This release was published on openPR.