Press release
Green Solvent Market Trends Research and Projections for 2017-2024: Global Market Insights Inc.
Increasing concern over VoC to reduce such emission is enhancing adhesive and sealant formulators, thereby influencing green solvent market growth. Adhesive and sealant industry is showing a robust growth due to positive application outlook in building & construction, shoe making, wood-working and product packaging. Global adhesive and sealant market is poised to exceed over USD 6.5 billion in 2024. Green solvent emit low VoC, thereby reduces smog formation and protects the environment.
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Increase in standard of living and growing consumer health awareness has propelled domestic cleaner industry. Global domestic cleaner industry is poised to surpass USD 4 billion by 2024. Green solvent is less toxic and protects consumer from carcinogen diseases, dizziness, vomiting and nausea symptom without affecting cleaning property.
Global paints & coatings market size should witness significant gains at over 5.5%. In paints, solvents easily disperse or dissolve different components used in the paint formulation including resin and pigment, thereby making it suitable for the application. Green solvent based automotive paint is non-toxic in nature, owing to VoC free and sustaining paint durability.
Rising adoption of eco-friendly inks including UV cured inks and water based printing along with increase in R&D spending may favour printing inks market demand. It is used on metal sheets, paper, cardboards, flex and plastic sheets. Printing tonners are toxic in nature and prolonged exposure can cause dermatitis, skin burn and eye irritation.
Europe, green solvents market size, driven by UK, France, Italy, and Germany, may show significant gains. Presence of major automotive industries in France and Germany should drive adhesives and sealants market in the region.
Volatility in crude oil prices along with environmental effects of VoC may hinder the industry growth and affect green solvents market price trend. However, strict government guidelines by EPA regarding VoC emissions along with consumer awareness for eco-friendly products should drive green solvents market growth.
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Global green solvent market share is competetive. Key market players operating in the industry include Huntsman, BASF, Solvay, Dow Chemical, Cargill, DuPont, Gevo, Vertec, Myriant, Lyondellbasell and Bio Amber. Companies are producing various products to be catered in end-use industries which may enhance product portfolio and expand regional presence.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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